M&A Deal Summary

BlackBern Partners and Merion Investment Partners Acquire Zentech

On May 13, 2019, private equity firm BlackBern Partners and mezzanine finance firm Merion Investment Partners acquired manufacturer Zentech from NewSpring Capital

Acquisition Highlights
  • This is BlackBern Partners’ 1st and Merion Investment Partners’ 5th transaction in the Manufacturing sector.
  • This is BlackBern Partners’ 2nd and Merion Investment Partners’ 33rd transaction in the United States.
  • This is BlackBern Partners’ 1st and Merion Investment Partners’ 3rd transaction in Maryland.

M&A Deal Summary

Date 2019-05-13
Target Zentech
Sector Manufacturing
Buyer(s) BlackBern Partners
Merion Investment Partners
Sellers(s) NewSpring Capital
Deal Type Secondary Buyout

Target

Zentech

Baltimore, Maryland, United States
Zentech is an engineering-driven electronics contract manufacturer specializing in the design and manufacture of highly-complex electronic and RF circuit cards and assemblies. Zentech was formed in 1998 and is based in Baltimore, Maryland.

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Buyer(S) 2

DESCRIPTION

BlackBern Partners LLC invests in mature operating companies in the lower middle-market, partnering with management teams that have a proven track record of success and providing capital to realize organic growth and acquisition opportunities. BlackBern is industry agnostic and focuses on situations where it can see specific opportunities to add value. BlackBern Partners was formed in 2010 and is headquartered in New York City.


DEAL STATS #
Overall 2 of 2
Sector (Manufacturing) 1 of 1
Type (Secondary Buyout) 1 of 1
State (Maryland) 1 of 1
Country (United States) 2 of 2
Year (2019) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-10-23 Westfall Technik

Chandler, Arizona, United States

Westfall Technik provides highly productive plastics manufacturing solutions to serve the medical, packaging and consumer goods industries. Westfall Technik’s competitive advantage is its modern technology applied to automated systems and correlative molding processes. Westfall Technik is based in Chandler, Arizona.

Buy -
DESCRIPTION

Merion Investment Partners is a mezzanine finance firm that provides subordinated debt to middle-market growth Companies generating at least $10 million in sales and at least $2 million in EBITDA. Merion focuses on opportunities in business services, specialty manufacturing, and healthcare services and products. Merion's invests in the range of $4 and $20 million per transaction. Merion Investment Partners was formed in 2003 and is based in King of Prussia, Pennsylvania.


DEAL STATS #
Overall 33 of 40
Sector (Manufacturing) 5 of 5
Type (Secondary Buyout) 2 of 2
State (Maryland) 3 of 3
Country (United States) 33 of 40
Year (2019) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-01-01 Salt Dental Collective

Phoenix, Arizona, United States

Salt Dental Collective is an owner and operator of pediatric dental care services. Salt Dental Collective was founded in 2018 and is based in Phoenix, Arizona.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-02-13 Magma

Lakewood, California, United States

Magma is a manufacturer and marketer of high-quality cookware products designed for use in harsh marine and outdoor environments. Magma was formed in 2001 and is based in Lakewood, California.

Buy -

Seller(S) 1

SELLER

NewSpring Capital

Radnor, Pennsylvania, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1999
PE ASSETS 3.5B USD
Size Large
Type Sector Agnostic
DESCRIPTION

NewSpring Capital is a private investment firm focused on growth companies in the Mid-Atlantic US. The Firm can provide both growth equity and junior capital to prospective companies. NewSpring's target investment size for both mezzanine and equity financing is $2 to $5 million, although for new ventures, the Firm can commit up to $10 million. Sectors of interest include specialty manufacturing, technology, business services, information technology, life science, healthcare services, and medical devices. NewSpring Capital was formed in 1999 and is based in Radnor, Pennsylvania with an additional office in Short Hills, New Jersey.


DEAL STATS #
Overall 56 of 86
Sector (Manufacturing) 5 of 6
Type (Secondary Buyout) 10 of 20
State (Maryland) 3 of 5
Country (United States) 55 of 85
Year (2019) 4 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-04-15 Paragon Bioservices

Baltimore, Maryland, United States

Paragon Bioservices, Inc. is a contract development and manufacturing organization (CDMO) whose focus is the development and manufacturing of cutting-edge biopharmaceuticals. Paragon aims to build strong client partnerships with the world’s best biotech and pharma companies, focusing on transformative technologies, including gene therapies (AAV), next-generation vaccines, oncology immunotherapies (oncolytic viruses), and other complex biologics. Paragon Bioservices, Inc. was founded in 1990 and is based in Baltimore, Maryland.

Sell $1.2B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-06-26 EnterpriseDB

Bedford, Massachusetts, United States

EnterpriseDB is a provider of Postgres software and services that enable enterprises to reduce their reliance on costly proprietary solutions and slash their database spend by 90% or more. With powerful performance and security enhancements for PostgreSQL, sophisticated management tools for global deployments and database compatibility for Oracle, EnterpriseDB software supports both mission and non-mission critical enterprise applications. EnterpriseDB was founded in 2004 and is based in Bedford, Massachusetts.

Sell -