M&A Deal Summary

Boathouse Capital Acquires Pleatco Filtration

On June 20, 2011, private equity firm Boathouse Capital acquired manufacturer Pleatco Filtration from Merion Investment Partners

Acquisition Highlights
  • This is Boathouse Capital’s 1st transaction in the Manufacturing sector.
  • This is Boathouse Capital’s 7th transaction in the United States.
  • This is Boathouse Capital’s 1st transaction in Kentucky.
Investment Fate
  • Pleatco Filtration was sold to a consortium of financial buyers in 2017.
  • Pleatco Filtration was sold to a publicly-traded strategic buyer in 2021 for 255M USD.

M&A Deal Summary

Date 2011-06-20
Target Pleatco Filtration
Sector Manufacturing
Buyer(s) Boathouse Capital
Sellers(s) Merion Investment Partners
Deal Type Recapitalization

Target

Pleatco Filtration

Louisville, Kentucky, United States
Pleatco Filtration is a provider of replacement filter cartridges and filtration products to the industrial air and the pool/spa markets across North America, Europe, and around the globe. Pleatco is dedicated to providing customers superior product quality, great service, and industry-leading engineering. Through science and innovation, Pleatco’s products provide clean air filtration for manufacturing employees and clean water to families and the environment broadly. Pleatco Filtration was founded in 2006 and is based in Louisville, Kentucky.

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Buyer(S) 1

Buyer

Boathouse Capital

Wayne, Pennsylvania, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2008
PE ASSETS 2.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Boathouse Capital is a provider of mezzanine and equity capital to lower middle-market companies in a variety of industries. The Firm works in partnership with management teams and private equity firms in funding private equity sponsored buyouts, management buyouts, recapitalizations, refinancings, and growth capital financings. Boathouse can commit up to $25 million per transaction and generally pursues companies with 'exceptional' management, sustainable competitive advantages, growing end markets, 'sticky' business models, and diversified customers. Boathouse seeks companies with at least $10 million in revenues and at least $5 million of EBITDA. Boathouse is based in Wayne, Pennsylvania.


DEAL STATS #
Overall 7 of 53
Sector: Manufacturing M&A 1 of 2
Type: Recapitalization M&A Deals 1 of 3
State: Kentucky M&A 1 of 1
Country: United States M&A 7 of 53
Year: 2011 M&A 3 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-02-25 Pilgrim Quality Solutions

Tampa, Florida, United States

Pilgrim Quality Solutions is a provider of enterprise risk, compliance and quality management solutions for global organizations. Pilgrim helps organizations manage industry and regulatory compliance, address potential risks, reduce manufacturing costs and improve customer satisfaction through its integrated platform.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-09-30 Colortree Group

Richmond, Virginia, United States

Colortree Group, Inc. is specializes in short-to-mid run production of multi-color, time-sensitive mailings mostly for non-profit organizations specializing in their need for high quality product(s) and responsiveness.

Buy -

Seller(S) 1

SELLER
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 6 of 26
Sector: Manufacturing M&A 1 of 3
Type: Recapitalization M&A Deals 1 of 2
State: Kentucky M&A 1 of 1
Country: United States M&A 6 of 26
Year: 2011 M&A 2 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-03-31 Consolidated Aviation Services

Jamaica, New York, United States

Consolidated Aviation Services is a provider of an import and export cargo handling services. Cargo Airport Services coordinates the process of transferring and releasing cargo between air carriers and ground transportation providers at major airports.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-09-01 AFS Technologies

Phoenix, Arizona, United States

AFS Technologies is a provider of fully integrated business software solutions, specifically engineered for the Food and Beverage industries. AFS new Service Oriented Architecture (SOA), based on Web Services and built on Microsoft. NET Framework 2.0, provides its customers with greater IT flexibility, increased scalability of their existing systems, and more powerful functionality, all at an affordable price. AFS Technologies was founded in 1985 and is based in Phoenix, Arizona.

Sell -