M&A Deal Summary

BlueCrest Acquires Fluence Automation

On November 1, 2021, BlueCrest acquired machinery company Fluence Automation from Tecum Capital, Midwest Mezzanine Funds and Colfax Creek Capital

Acquisition Highlights
  • This is BlueCrest’s 1st transaction in the Machinery sector.
  • This is BlueCrest’s 2nd transaction in the United States.
  • This is BlueCrest’s 1st transaction in Illinois.

M&A Deal Summary

Date 2021-11-01
Target Fluence Automation
Sector Machinery
Buyer(s) BlueCrest
Sellers(s) Tecum Capital
Midwest Mezzanine Funds
Colfax Creek Capital
Deal Type Add-on Acquisition

Target

Fluence Automation

Arlington Heights, Illinois, United States
Fluence Automation LLC provides mail and parcel sorting systems/hardware and related software and service revenue associated with the hardware as well as assets that will be leveraged for growth opportunities in the material handling and e-Commerce fulfillment markets. Fluence Automation is based in Arlington Heights, Illinois.

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Buyer(S) 1

Buyer

BlueCrest

Danbury, Connecticut, United States

Category Company
Founded 2018
Sector Machinery
Revenue 270M USD (2017)
DESCRIPTION

BlueCrest is a global provider of inserting, sorting, and printing related equipment primarily for the transactional and direct mail industries. BlueCrest was formed in 2018 and is based in Danbury, Connecticut.


DEAL STATS #
Overall 2 of 3
Sector (Machinery) 1 of 1
Type (Add-on Acquisition) 2 of 3
State (Illinois) 1 of 1
Country (United States) 2 of 3
Year (2021) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-12-22 BCC Software

Rochester, New York, United States

BCC Software LLC is a provider of software and data solutions designed to enhance direct mail processing and facilitate efficient, cost-effective multi-channel marketing. The company provides USPS®-certified mail preparation software with integrated functionality to correct address data, perform matching and consolidation, and to sequence mailing lists for postal discounts, through on-premise, cloud-based and API solutions. BCC Software was founded in 1978 and is based in Rochester, New York.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-02-23 Window Book

Cambridge, Massachusetts, United States

Window Book provides innovative mailing and shipping solutions that reduce manual labor, improve mailing accuracy, and maximize postage discounts. It has enabled approximately 10,000 businesses to produce over 39.5 billion dollars in postage statements and hundreds of millions of dollars in increased profits by using postal software. Window Book was formed in 1988 and is based in Cambridge, Massachusetts.

Buy -

Seller(S) 3

SELLER

Tecum Capital

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2005
PE ASSETS 750M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Tecum Capital is a private equity firm focused on lower middle-market companies across the Eastern-US. Tecum will consider a variety of investment situations including leveraged buyouts, management buyouts, successions, strategic acquisitions, growth capital financings, and recapitalizations. Investment sizes range from $5 - $20 million. Industries of interest include manufacturing, plastics, specialty distribution, technology, healthcare services, defense, food, and business/consumer services. Tecum will not consider investments in start-ups or real estate. Tecum Capital was formed in 2005 and is based in Wexford, Pennsylvania.


DEAL STATS #
Overall 18 of 24
Sector (Machinery) 1 of 2
Type (Add-on Acquisition) 7 of 9
State (Illinois) 2 of 2
Country (United States) 18 of 24
Year (2021) 5 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-10-06 JDP

Wexford, Pennsylvania, United States

JDP is a provider of background check, employment screening and adjacent services to a diverse customer base spanning a variety of industries, including but not limited to: healthcare, youth sports, education, and finance. JDP was founded in 2009 and is based in Wexford, Pennsylvania.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-02-07 ASW Partner

Pittsburgh, Pennsylvania, United States

ASW is a wholesale warehouse distributor of automotive allied products to the collision repair value chain. The Company, through its five (5) strategically located warehouses, consolidates 300+ core vendors to offer tens of thousands of unique products, including key automotive product categories such as paint & coatings, abrasives, tools & equipment, tape, painting cups & filters, and primer. ASW was founded in 1978 and is headquartered in Pittsburgh, Pennsylvania.

Buy -
SELLER

Midwest Mezzanine Funds

Chicago, Illinois, United States

Investor Investor Investor Investor Investor


Category Mezzanine Finance Firm
Founded 1992
PE ASSETS 1.0B USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Midwest Mezzanine Funds (MMF) is a provider of junior capital to lower middle-market, US and Canadian companies. MMF looks to invest $4 to $15 million to support buyouts, acquisition financings, recapitalizations, and growth capital needs. Prospective companies generally have consistent profits ($3 million of EBITDA), low capital intensity, and sustainable competitive advantages. Broad areas of interest include manufacturing, value-added distribution, and services. MMF will not invest in high technology, energy, or real estate. Midwest Mezzanine was formed in 1992 and has offices in Chicago and Monroe, Michigan.


DEAL STATS #
Overall 46 of 56
Sector (Machinery) 1 of 1
Type (Add-on Acquisition) 17 of 24
State (Illinois) 6 of 7
Country (United States) 45 of 55
Year (2021) 2 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-08-02 L.W. Allen

Madison, Wisconsin, United States

L.W. Allen manufactures water and wastewater control systems and distributes industrial and heavy-duty pumps to municipal and industrial customers. The company’s electrical control solutions, marketed under the Altronex brand name, provide the hardware, software, and services used by operators to control water and wastewater systems. It also designs, distributes, installs, and services water and wastewater treatment pump systems. L.W. Allen was formed in 1961 and is based in Madison, Wisconsin.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-11-24 Rackmount Solutions

Plano, Texas, United States

Rackmount Solutions provides off-the-shelf, custom, and niche server racks, server cabinets, wall mounts, portable cooling solutions, outdoor enclosures, batteries, integrated AC and DC power system solutions, rack accessories, and power, along with installation and maintenance services over the phone. Rackmount Solutions was formed in 2001 and is based in Plano, Texas.

Buy -
DESCRIPTION

Colfax Creek Capital is a private investment firm focused on acquiring profitable, lower middle-market companies in the Great Lakes region of the US. The Firm targets businesses with $2 to $7 million of EBITDA in the consumer products, business services, and industrials sectors. Colfax Creek Capital was established in 2017 and is headquartered in Birmingham, Michigan.


DEAL STATS #
Overall 2 of 2
Sector (Machinery) 1 of 1
Type (Add-on Acquisition) 1 of 1
State (Illinois) 1 of 1
Country (United States) 2 of 2
Year (2021) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-09-09 GLE Precision

Bridgeport, Michigan, United States

GLE Precision is a manufacturer of tungsten carbide tooling, gauges, and product components used in diversified industries, including water jet, computer chip, medical, battery, flow technologies, automotive, and others for some of the most recognizable companies in the world such as Johnson & Johnson, Emerson, IBM, and Bosch. GLE Precision was founded in 1961 and is based in Bridgeport, Michigan.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-01-06 Dial Tool

Addison, Illinois, United States

Dial Tool is a full-service provider in the manufacturing industry, offering metal stampings, injection and insert molding, and assembly. Dial Tool can provide turn-key solutions from prototype through production, a business paradigm which increases customer satisfaction, reduces client supply base, and increases efficiencies.

Buy -