Buyout (LBO, MBO, MBI) • Safety/Security

Blackford Capital and Convergent Capital Partners Acquire BSI

On January 12, 2007, private equity firm Blackford Capital and growth capital firm Convergent Capital Partners acquired safety/security company BSI

Acquisition Context
  • This is Blackford Capital’s 1st and Convergent Capital Partners’ 1st transaction in the Safety/Security sector.
  • This is Blackford Capital’s 3rd and Convergent Capital Partners’ 26th transaction in the United States.
  • This is Blackford Capital’s 1st and Convergent Capital Partners’ 1st transaction in Florida.
Investment Fate
  • BSI was sold to a publicly-traded strategic buyer in 2019.

Explore All 270 Buyout (LBO, MBO, MBI) Safety/Security Deals - Search the Database Free


M&A Deal Summary

Date January 12, 2007
Target BSI
Sector Safety/Security
Buyer(s) Blackford Capital
Convergent Capital Partners
Deal Type Buyout (LBO, MBO, MBI)

Target Company

BSI

Delray Beach, Florida, United States
Best Security Industries, Inc. is a manufacturer and distributor of compatible electronic article surveillance products (EAS) tags, labels, and systems that retailers install to prevent shoplifting. Best Security Industries was founded in 1987 and is based in Delray Beach, Florida.
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Buyers Overview 2

Buyer

Blackford Capital

Grand Rapids, Michigan, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2000
Size Small
Type Sector Agnostic
DESCRIPTION

Blackford Capital is a private investment firm that targets mature or growth-oriented manufacturing, distribution, and service companies located in North America. Specific areas of interest include paper; rubber and miscellaneous plastics; stone, clay, and glass products; primary metal industries; fabricated metal products; industrial machinery and equipment; and electronics and other electrical equipment. Blackford prefers situations where management is seeking to retire or exit. The Firm's target revenue range is between $20 and $100 million. Blackford Capital Partners was formed in 2000 and is based in Grand Rapids, Michigan.


Deal Context for Buyer #
Overall 3 of 31
Sector: Safety/Security 1 of 2
Type: Buyout (LBO, MBO, MBI) 2 of 19
State: Florida 1 of 1
Country: United States 3 of 30
Year: 2007 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2006-03-01 Rhinotek

Carson, California, United States

Rhinotek is a leading North American retail distributor of high quality compatible inkjet and toner cartridges

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2008-06-18 Industrial Piping

Pineville, North Carolina, United States

Industrial Piping, Inc. designs, assembles and installs process and utility piping systems, skid-mounted modular systems, and fire protection systems for industrial customers, primarily in the Southeast region of the United States.

Buy -
DESCRIPTION

Convergent Capital is a private investment firm that provides growth and debenture financing to late-stage growth companies. Convergent prefers to commit $3 to $12 million per transaction in businesses with at least $10 million in revenues. Convergent is a generalist investor and will consider businesses in a wide range of industries. Investment funds are typically used to assist growth, but the firm can also structure investments around buyouts, recapitalizations, consolidations, and add-on acquisitions. Convergent is licensed as a SBIC. Convergent Capital was formed in 1999 and is based in Minneapolis, Minnesota.


Deal Context for Buyer #
Overall 26 of 62
Sector: Safety/Security 1 of 1
Type: Buyout (LBO, MBO, MBI) 11 of 25
State: Florida 1 of 2
Country: United States 26 of 62
Year: 2007 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2006-12-01 Quality Assured Enterprises

Minneapolis, Minnesota, United States

Quality Assured Label, Inc. designs and prints pressure-sensitive labels for the personal care, pharmaceutical and household product industries.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-06-01 Healthy Pet

Shelton, Connecticut, United States

Healthy Pet Corp. is an operator of veterinary hospitals in the eastern United States.

Sell $153M