M&A Deal Summary

Blue Wolf Capital Partners and Yellow Point Equity Partners Acquire State Group

On April 4, 2018, private equity firms Blue Wolf Capital Partners and Yellow Point Equity Partners acquired engineering company State Group

Acquisition Highlights
  • This is Blue Wolf Capital Partners’ 1st and Yellow Point Equity Partners’ 1st transaction in the Engineering sector.
  • This is Blue Wolf Capital Partners’ 20th and Yellow Point Equity Partners’ 1st transaction in the United States.
  • This is Blue Wolf Capital Partners’ 1st and Yellow Point Equity Partners’ 1st transaction in Tennessee.

M&A Deal Summary

Date 2018-04-04
Target State Group
Sector Engineering
Buyer(s) Blue Wolf Capital Partners
Yellow Point Equity Partners
Deal Type Buyout (LBO, MBO, MBI)
Advisor(s) Cowen Group, Inc. (Financial)

Target

State Group

Franklin, Tennessee, United States
State Group is a multi-trade industrial and specialty services contractor that provides comprehensive electrical and mechanical trade services to Fortune 100 companies in the power generation, automotive, oil and gas, communications, metals and transportation industries. The State Group performs over two million man-hours annually of retrofit, maintenance, construction and emergency services and maintains a tooling and equipment inventory to support its skilled workforce. State Group was founded in 1961 and is based in Toronto, Ontario.

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Buyer(S) 2

Buyer

Blue Wolf Capital Partners

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2005
PE ASSETS 2.5B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Blue Wolf Capital Partners is a private equity investment firm that targets control investments in middle-market North American companies. Blue Wolf looks to commit at least $25 million of equity capital in businesses with minimum revenues of $50 million. Blue Wolf is a generalist firm with broad interest in service and applied engineering companies, capital equipment manufacturers, general manufacturing, financial services, paper products, and broadcast media. Blue Wolf will also consider distressed situation investments. The Firm does not invest in start-ups. Blue Wolf Capital Partners was formed in 2005 and is located in New York, New York.


DEAL STATS #
Overall 21 of 34
Sector (Engineering) 1 of 2
Type (Buyout (LBO, MBO, MBI)) 6 of 12
State (Tennessee) 1 of 1
Country (United States) 20 of 31
Year (2018) 3 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-02-12 Petrosmith

Abilene, Texas, United States

Petrosmith is a manufacturer of broad suite of tanks (including oilfield storage tanks and gunbarrel tanks) and vessels (including heater treaters, separators and vapor recovery towers) used by large E&P companies primarily in the Permian Basin, Eagle Ford and Mid-Continent region. The Company also sells a variety of new and used OCTG and provides a wide array of OCTG refurbishment services. Petrosmith also has state-of-the-art blasting and coating facilities that service the Company’s tank, vessel and OCTG divisions. In addition, the Company provides plug and abandonment services to E&P companies. Petrosmith is headquartered in Abilene, Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-04-10 Great Lakes Caring

Jackson, Michigan, United States

Great Lakes Home Health Services, Inc. (dba Great Lakes Caring) is a provider of home health care, hospice care, as well as home medical equipment, daily to more than 6,000 patients throughout the Midwest. Great Lakes Caring, based in Jackson, Michigan, offers a broad range of services within the continuum of in-home health care including home health, hospice, home-based primary care, palliative care and private duty services. The company was founded in 1994 by Cherilyn Deary, and has built its business on a patient-centric commitment to superior quality and innovation. Great Lakes Caring has become one of the highest rated home health and hospice companies in the country, developing and implementing its products and services throughout the Midwest. The company employs more than 2,600 health care professionals in 25 offices, providing superior quality home health care, hospice care, palliative care as well as home-based primary care and private duty services to more than 9,000 patients daily.

Sell -
Buyer

Yellow Point Equity Partners

Vancouver, British Columbia, Canada

Investor Investor Investor Investor


Category Private Equity Firm
Founded 2004
Size Small
Type Sector Agnostic
DESCRIPTION

Yellow Point Equity Partners is a private equity group focused on management buyouts and growth investments in mid-sized companies located in Western Canada and the Northwest of the US. Yellow Point will consider opportunities in a wide range of sectors, including basic manufacturing, technology, communications, energy, financial, healthcare, and services. The Firm 'gravitates' towards businesses with established market positions and 'compelling' products. Yellow Point Equity Partners was formed in 2004 and is based in Vancouver, British Columbia.


DEAL STATS #
Overall 20 of 27
Sector (Engineering) 1 of 1
Type (Buyout (LBO, MBO, MBI)) 11 of 12
State (Tennessee) 1 of 1
Country (United States) 1 of 1
Year (2018) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-03-21 Shanahan’s

Surrey, British Columbia, Canada

Shanahan’s is a distributor, manufacturer, and installer of hardware, hollow-metal doors and construction specialty products in Canada. The Company is also the exclusive Canadian distributor of ABUS security products and other third-party hardware, industrial/wood doors, and washroom accessories through its Hardware Agencies and Serrubec brands.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-05-23 MacKay CEO Forums

Vancouver, British Columbia, Canada

MacKay CEO Forums provides professionally facilitated peer learning groups for CEOs, executives, and business owners. The company accelerates the performance of results-oriented business leaders through its efficient time requirements and high-impact approach. MacKay CEO Forums’ groups are formed to leverage members’ complementary strengths, providing real-world solutions to challenges faced by executives at any stage of their career. MacKay CEO Forums was founded in 2005 and is based in Vancouver, British Columbia.

Buy -