M&A Deal Summary

Tonka Bay Equity Partners and Boulder Brook Partners Acquire NAI Cranes

On January 6, 2009, private equity firms Tonka Bay Equity Partners and Boulder Brook Partners acquired machinery company NAI Cranes

Acquisition Highlights
  • This is Tonka Bay Equity Partners’ 1st and Boulder Brook Partners’ 1st transaction in the Machinery sector.
  • This is Tonka Bay Equity Partners’ 13th and Boulder Brook Partners’ 2nd transaction in the United States.
  • This is Tonka Bay Equity Partners’ 1st and Boulder Brook Partners’ 2nd transaction in Massachusetts.
Investment Fate
  • NAI Cranes was sold to a strategic buyer in 2015.

M&A Deal Summary

Date 2009-01-06
Target NAI Cranes
Sector Machinery
Buyer(s) Tonka Bay Equity Partners
Boulder Brook Partners
Deal Type Buyout (LBO, MBO, MBI)

Target

NAI Cranes

Woburn, Massachusetts, United States
NAI Cranes LLC is a manufacturer of industrial cranes (overhead cranes). Products include bridge cranes, gantry cranes, monorails, jib cranes, and custom-engineered systems with capacities up to 150 tons and spans up to 150 ft. NAI Cranes was formed in 1969 and is based in Woburn, Massachusetts.

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Buyer(S) 2

Buyer

Tonka Bay Equity Partners

Minnetonka, Minnesota, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1998
PE ASSETS 560M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Tonka Bay Equity Partners is a Midwest US-based private equity firm that targets control and non-control investments in manufacturing, business services, and value-added distribution companies with at least $2 million of EBITDA. Tonka Bay will consider a variety of transaction situations, including management buyouts, shareholder liquidity events, recapitalizations, and expansions. Tonka Bay Equity Partners was formed in 1998 and is based in Minnetonka, Minnesota.


DEAL STATS #
Overall 13 of 34
Sector: Machinery M&A 1 of 1
Type: Buyout (LBO, MBO, MBI) M&A Deals 9 of 14
State: Massachusetts M&A 1 of 1
Country: United States M&A 13 of 33
Year: 2009 M&A 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-12-03 AST Bearings

Montville, New Jersey, United States

AST Bearings LLC is a distributor of high precision bearings and related products. AST has developed a leading market position in miniature and instrument bearings by providing global sourcing and value-added services. AST Bearings was formed in 1963 and is based in Montville, New Jersey.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2009-03-16 AppleWhite Dental Partners

Dubuque, Iowa, United States

Applewhite Dental Partners is a dental services organization with locations in Iowa, Illinois, Wisconsin, and Minnesota. Over the past 10 years, Applewhite has remained at the forefront of the dental field and currently employs over 150 dentists and hygienists. Through a network of 35 offices, Applewhite offers comprehensive dental care to nearly 185,000 patients annually.

Buy -
Buyer

Boulder Brook Partners

Acton, Massachusetts, United States

Investor Investor


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

Boulder Brook Partners LLC is a private investment firm focused on acquiring businesses headquartered primarily in the Northeast US. It targets middle market companies with revenue of $5 - $100 million, and cash flows over $1 million. Specific areas of interest include manufacturing, distribution and consumer services. Type of transactions include MBO’s, MBI’s and recapitalizations. Boulder Brook Partners LLC was formed in 2004 and is based in Acton, Massachusetts.


DEAL STATS #
Overall 2 of 2
Sector: Machinery M&A 1 of 1
Type: Buyout (LBO, MBO, MBI) M&A Deals 2 of 2
State: Massachusetts M&A 2 of 2
Country: United States M&A 2 of 2
Year: 2009 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2004-09-03 Millstone Medical Outsourcing

Fall River, Massachusetts, United States

Millstone Medical Outsourcing is a provider of outsourcing solutions to medical device OEMs, including contract packaging services alongside innovative warehousing and distribution services. Millstone Medical Outsourcing was founded in 2000 and is based in Fall River, Massachusetts.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-04-17 NAI Cranes

Woburn, Massachusetts, United States

NAI Cranes LLC is a manufacturer of industrial cranes (overhead cranes). Products include bridge cranes, gantry cranes, monorails, jib cranes, and custom-engineered systems with capacities up to 150 tons and spans up to 150 ft. NAI Cranes was formed in 1969 and is based in Woburn, Massachusetts.

Sell -