M&A Deal Summary

Goense Capital Partners, Bounds Equity Partners, GarMark Partners and Lincolnshire Management Acquire CrossCom

On November 2, 2004, private equity firm Goense Capital Partners, private equity firm Bounds Equity Partners, mezzanine finance firm GarMark Partners and private equity firm Lincolnshire Management acquired information technology company CrossCom

Acquisition Highlights
  • This is Goense Capital Partners’ 1st, Bounds Equity Partners’ 1st, GarMark Partners’ 1st and Lincolnshire Management’s 1st transaction in the Information Technology sector.
  • This is Goense Capital Partners’ 3rd, Bounds Equity Partners’ 2nd, GarMark Partners’ 6th and Lincolnshire Management’s 10th transaction in the United States.
  • This is Goense Capital Partners’ 1st, Bounds Equity Partners’ 1st, GarMark Partners’ 1st and Lincolnshire Management’s 3rd transaction in Illinois.

M&A Deal Summary

Date 2004-11-02
Target CrossCom
Sector Information Technology
Buyer(s) Goense Capital Partners
Bounds Equity Partners
GarMark Partners
Lincolnshire Management
Deal Type Recapitalization

Target

CrossCom

Buffalo Grove, Illinois, United States
CrossCom delivers nationwide IT services and solutions for geographically dispersed multi-unit operators in the retail, automotive, grocery, hospitality, and restaurant industry segments. CrossCom was founded in 1981 and is based in Buffalo Grove, Illinois.

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Buyer(S) 4

Buyer

Goense Capital Partners

Chicago, Illinois, United States

Investor Investor


Category Private Equity Firm
Founded 2008
PE ASSETS 225M USD
Size Small
Type Sector Agnostic
DESCRIPTION

Goense Capital Partners is a private equity firm focused on making control investments alongside management teams in small to mid-sized business service companies. Goense looks for North American businesses with predictable cash-flow ($2 million+ of EBITDA), identifiable growth opportunities, and market segment leadership. Target transaction situations include consolidations, family successions, shareholder liquidity needs, LBOs, MBOs, and growth capital financings. The Firm prefers to be the lead investor and has a target investment size of $1 to $30 million. Goense was formed in 2008 after becoming independent from Goense Bounds & Partners. The Firm is and is based in Chicago, Illinois.


DEAL STATS #
Overall 3 of 11
Sector: Information Technology M&A 1 of 2
Type: Recapitalization M&A Deals 1 of 2
State: Illinois M&A 1 of 3
Country: United States M&A 3 of 11
Year: 2004 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2003-10-22 Norcraft Companies

Eagan, Minnesota, United States

Norcraft Companies, Inc. is a manufacturer of kitchen and bathroom cabinetry in the United States and Canada. Norcraft provides its customers with a single source for a broad range of high-quality cabinetry, including stock and semi-custom cabinets manufactured in both framed and frameless (full access) construction. Norcraft was formed in 1966 and is based in Eagan, Minnesota.

Sell $315M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2006-02-01 Pinnacle Stone & Tile

Fairfield, California, United States

Pinnacle Stone & Tile is a provider of excellent service at a compelling value for our customers. Our team of fabricators, tile setters and installation crews have been associated with some of the largest and most respected commercial and residential projects in Northern California.

Buy -
Buyer

Bounds Equity Partners

Winnetka, Illinois, United States

Category Private Equity Firm
Founded 1988
PE ASSETS 100M USD
Size Small
Type Sector Agnostic
DESCRIPTION

Bounds Equity Partners LLC (BEP) is a private equity firm focused on smaller company investments (business with $1 million+ of EBITDA). The Firm targets growth companies with market/industry segment leadership, defensible market positions, and operating profit margin of at least 10 percent. BEP looks to invest at least $1 million per transaction and prefers situations where entrepreneurs are seeking liquidity. Target sectors include building materials and services, business services, healthcare products and services, niche distribution and specialty manufacturing. Bounds Equity Partners LLC was formed in 2009 and is based in Highland Park, Illinois.


DEAL STATS #
Overall 2 of 11
Sector: Information Technology M&A 1 of 1
Type: Recapitalization M&A Deals 1 of 1
State: Illinois M&A 1 of 3
Country: United States M&A 2 of 11
Year: 2004 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2003-10-02 Sportcraft

Budd Lake, New Jersey, United States

Sportcraft Ltd. is a manufacturer of recreational sports gear like pool tables, air hockey and horseshoe sets.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2006-03-21 U.S. Builder Services

Richardson, Texas, United States

U.S. Builder Services LLC is a contractor to the residential home building industry in its markets, providing plumbing services in Texas, electrical services in Florida, and drywall services in California. U.S. Builder Services was founded in 2005 and is based in Richardson, Texas.

Buy -
Buyer

GarMark Partners

Stamford, Connecticut, United States

Investor Investor Investor Investor Investor


Category Mezzanine Finance Firm
Founded 1997
PE ASSETS 1.3B USD
Size Large
Type Sector Agnostic
DESCRIPTION

GarMark Partners is a private investment firm that makes debt and equity investments in a wide range of companies. The Firm invests in businesses at various stages of development to facilitate acquisitions, divestitures, recapitalizations, turnarounds or growth. Garmark typically invests between $5 and $30 million with an EBITDA $3 and $25 million. The firm prefers to invest in the sectors of manufacturing/industrial products, distribution, business services, consumer brands, food/nutrition products, transportation, healthcare, retail, and restaurants. GarMark Partners was formed in 1997 and is based in Stamford, Connecticut.


DEAL STATS #
Overall 8 of 38
Sector: Information Technology M&A 1 of 1
Type: Recapitalization M&A Deals 1 of 2
State: Illinois M&A 1 of 4
Country: United States M&A 6 of 36
Year: 2004 M&A 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2004-10-11 Experimental & Applied Sciences

Burlington, Ontario, Canada

EAS is a marketer of products that provide complete nutrition to anyone wanting to improve his or her health and fitness - from elite athletes to health conscious consumers. EAS educates and inspires its customers to live a healthier, more fulfilling lifestyle through exercise and science-based nutrition products. EAS product lines include EAS Myoplex®, EAS HP and the EAS AdvantEdge® lines.

Sell $320M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2005-08-01 Uniscribe Professional Services

Wilton, Connecticut, United States

Uniscribe Professional Services, Inc. is a provider of document outsourcing services to law firms, investment banks, accounting firms, and consulting firms.

Sell -
Buyer

Lincolnshire Management

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1986
PE ASSETS 1.9B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Lincolnshire Management, Inc. (LMI) is a private equity firm focused on acquiring small and mid-sized companies in partnership with management. LMI typically targets companies with the majority of business conducted within the US. Prospective companies also have cash-flows of $5 to $50 million and significant opportunities for growth, either internally or through acquisitions. Target transaction situations include corporate divestitures, selling shareholders, and owners desiring liquidity. Lincolnshire Management was formed in 1986 and has office in New York City.


DEAL STATS #
Overall 11 of 32
Sector: Information Technology M&A 1 of 1
Type: Recapitalization M&A Deals 1 of 1
State: Illinois M&A 3 of 5
Country: United States M&A 10 of 29
Year: 2004 M&A 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2004-04-01 Nexcycle Plastics

Brampton, Ontario, Canada

Nexcycle Plastics, Inc. operates as a recycler of plastic and glass materials in North America.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2005-01-01 Paddock Pool Construction Co.

Scottsdale, Arizona, United States

Paddock Pool Construction Co. is a provider of pool construction services and related backyard accessories in the Arizona and Nevada markets. Paddock offers its customers a unique combination of pool, spa and backyard design and construction services and an unmatched retail selection of backyard items including pool supplies, outdoor furniture, barbecues, outdoor lighting, and related accessories.

Buy -