Secondary Buyout • Automotive

Blue Point Capital Partners Acquires Transtar Industries

On January 22, 2021, private equity firm Blue Point Capital Partners acquired automotive company Transtar Industries from FFL Partners, American Capital and Kensington

Acquisition Context
  • This is Blue Point Capital Partners’ 1st transaction in the Automotive sector.
  • This is Blue Point Capital Partners’ 39th transaction in the United States.
  • This is Blue Point Capital Partners’ 10th transaction in Ohio.

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M&A Deal Summary

Date January 22, 2021
Target Transtar Industries
Sector Automotive
Buyer(s) Blue Point Capital Partners
Sellers(s) FFL Partners
American Capital
Kensington
Deal Type Secondary Buyout

Target Company

Transtar Industries

Cleveland, Ohio, United States
Transtar Industries is a distributor and remanufacturer of automotive aftermarket transmission repair parts and manufacturers of automotive refinishing products. Transtar Industries was founded in 1975 and is based in Cleveland, Ohio.
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Buyer Overview 1

Buyer

Blue Point Capital Partners

Cleveland, Ohio, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1990
PE ASSETS 1.9B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Blue Point Capital Partners is a middle-market private equity firm focused on investments throughout the US, Canada, and Europe. The Firm looks to commit $10 to $50 million of equity capital in companies generating sales of $30 to $300 million and EBITDA of at least $5 million. Blue Point looks for control investments that arise from management led buyouts, recapitalizaitons, and companies in need of growth capital. Sectors of interest include transportation components, metals processing, plastics, packaging, specialty distribution, environmental, building materials, industrial textiles, transportation/logistics, chemicals, industrial outsourcing, and engineered components. Blue Point will not invest in real estate, restaurants, retail, or companies operating in highly regulated industries. Blue Point Capital Partners was formed in 1990 and has offices in Cleveland, Ohio; Charlotte, North Carolina; and Seattle, Washington.


Deal Context for Buyer #
Overall 43 of 54
Sector: Automotive 1 of 1
Type: Secondary Buyout 9 of 12
State: Ohio 10 of 13
Country: United States 39 of 50
Year: 2021 1 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-12-27 Country Pure Foods

Akron, Ohio, United States

Country Pure Foods is a provider of branded and private label beverage products to healthcare and education markets as well to grocery retailers. Country Pure Foods was founded in 1948 and is based in Akron, Ohio.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-03-18 Weaver Leather

Mount Hope, Ohio, United States

Weaver Leather is a provider of leather and nylon products and accessories into the Western-style equine, livestock, pet, and arborist markets. Weaver manufactures, markets, and distributes a broad line of branded and non-branded leather, nylon/synthetic, hardware, and other products and product accessories uniquely designed for its four consumer-focused divisions (equine, livestock, pet, and arborist) - and its wholesale supply division. Weaver Leather was established in 1973 and is based in Mount Hope, Ohio.

Buy -

Seller Profiles 3

SELLER

FFL Partners

San Francisco, California, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1997
PE ASSETS 6.0B USD
Size Mega
Type Sector Focused
DESCRIPTION

FFL Partners (formerly known as Friedman Fleischer & Lowe) is a private equity group focused on majority and minority investments in North American middle-market companies. Prospective businesses generally have revenues of $30 to $400 million and are valued between $50 and $300 million. Target situations include ownership restructurings in closely-held and family-owned companies, management buyouts, PIPEs, growth equity fundings, take privates, special situations, and recapitalizations. Sectors of interest include outsourced business services, education and training, marketing and media, consumer products, healthcare, and financial services. FFL Partners was formed in 1997 and is based in San Francisco, California.


Deal Context for Seller #
Overall 25 of 32
Sector: Automotive 1 of 1
Type: Secondary Buyout 9 of 13
State: Ohio 1 of 1
Country: United States 23 of 30
Year: 2021 1 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-12-02 Midwest Dental

Mondovi, Wisconsin, United States

Midwest Dental, Inc. is a provider of business management services for dental offices serving communities throughout the Midwest. Dental practices affiliated with Midwest Dental offer a comprehensive range of treatment services including preventive, cosmetic, restorative, and reconstructive dentistry for adults and children. Midwest Dental was formed in 1968 and is based in Mondovi, Wisconsin.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-04-06 Velocity Global

Denver, Colorado, United States

Velocity Global is a global professional employer organization (PEO) and employer of record (EOR). The company provides global expansion and employer⁠-⁠of⁠-⁠record services to clients across all 50 states and nearly 200 countries. Velocity Global was founded in 2014 and is based in Denver, Colorado.

Buy -
SELLER

American Capital


Category Private Equity Firm
Founded 1997
PE ASSETS 22.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

American Capital was a publicly traded buyout and mezzanine investment firm. American Capital invested in buyouts, growth capital financings, acquistion financings, and recapitalizations. The Firm looked to finance businesses with at least $4 million in EBITDA and valued between $20 and $500 million. American Capital ws a generalist firm with broad interest in traditional industries such as manufacturing, distribution, and services. American Capital's European investment affiliate is European Capital. European Capital looked to invest $10 to $600 million of equity, mezzanine, and/or senior debt in similar opportunities across Europe. American Capital was formed in 1997 and in January 2017, merged with Ares Capital Management.


Deal Context for Seller #
Overall 193 of 194
Sector: Automotive 11 of 11
Type: Secondary Buyout 70 of 71
State: Ohio 11 of 11
Country: United States 185 of 186
Year: 2021 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-06-29 Unison

McLean, Virginia, United States

Unison is a provider of purpose-built procurement and contract management software solutions to U.S. federal government agencies and government contractors. All software development and support are done within the USA. For over 30 years, Unison has continually advanced software and insight solutions to help Federal programs efficiently achieve their missions. Unison was founded in 1983 and is based in McLean, Virginia.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-10-19 Pelican Products

Torrance, California, United States

Pelican Products is a designer and manufacturer of high performance protective cases, temperature controlled packaging solutions, advanced portable lighting systems and rugged gear for professionals and outdoor enthusiasts. Pelican's products are used by professionals in the most demanding markets including fire safety, law enforcement, defense / military, aerospace, entertainment, industrial and consumer. Pelican products are designed and built to last a lifetime. Pelican Products was founded in 1976 and is based in Torrance, California.

Sell -
SELLER
DESCRIPTION

Kensington Capital Partners is a specialist private equity group and M&A advisor focused on the automotive and industrial sectors. Kensington is based in Kensington, New York.


Deal Context for Seller #
Overall 3 of 3
Sector: Automotive 2 of 2
Type: Secondary Buyout 1 of 1
State: Ohio 1 of 1
Country: United States 2 of 2
Year: 2021 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-04-09 Pure Power Technologies

Columbia, South Carolina, United States

Pure Power Technologies LLC is a provider of high-performance diesel fuel-injection systems and precision machining products and systems for medium- and heavy-duty truck applications.

Sell -