M&A Deal Summary

Boyd Acquires Action Fabricators

On February 26, 2018, Boyd acquired chemicals company Action Fabricators from Maranon Capital and River Associates

Acquisition Highlights
  • This is Boyd’s 1st transaction in the Chemicals sector.
  • This is Boyd’s 4th transaction in the United States.
  • This is Boyd’s 1st transaction in Michigan.

M&A Deal Summary

Date 2018-02-26
Target Action Fabricators
Sector Chemicals
Buyer(s) Boyd
Sellers(s) Maranon Capital
River Associates
Deal Type Add-on Acquisition

Target

Action Fabricators

Grand Rapids, Michigan, United States
Action Fabricators, Inc. is a premier converter of custom designed flexible materials, including custom made tapes, adhesives, non-adhesive backed foams and other specialty materials for numerous end market applications, including automotive, medical, electronics, security, furniture, appliance, and general industrial applications. Action provides its clients with cost-effective, value-added custom solutions to meet their specific application needs.

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Buyer(S) 1

Buyer

Boyd

Modesto, California, United States

Category Company
Founded 1996
Sector Manufacturing
DESCRIPTION

Boyd Corp is a designer, manufacturer, marketer, and distributor of extruded, die-cut, and molded flexible rubber and plastic components and sealing systems for industrial applications. The business has a history of design and manufacturing innovation related to sealing systems and applications.


DEAL STATS #
Overall 4 of 12
Sector (Chemicals) 1 of 2
Type (Add-on Acquisition) 3 of 10
State (Michigan) 1 of 1
Country (United States) 4 of 10
Year (2018) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-05-18 Aavid Thermalloy

Concord, New Hampshire, United States

Aavid, through its global network of manufacturing and design centers, provides a broad range of technologically advanced thermal management solutions for aerospace and defense, telecommunication, LED lighting, server, data center, consumer electronics, transportation, and industrial applications to customers all over the world.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-01-10 Henkel - Airflow Systems Business

Rocky Hill, Connecticut, United States

Henkel Corp. - Airflow Systems Business engages in manufacture and design capability and high-performance air blower technology.

Buy -

Seller(S) 2

SELLER

Maranon Capital

Chicago, Illinois, United States

Investor Investor Investor Investor Investor


Category Mezzanine Finance Firm
Founded 2007
PE ASSETS 4.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Maranon Capital LP is an investment firm that provides senior financing, mezzanine debt and equity co-investments for private equity backed and non sponsored middle market companies. Maranon seeks investments in financially healthy businesses with stable cash flows, diverse customers, and strong management. Prospective companies are valued between $30 and $150 million and generate $5 to $30 million of EBITDA. Maranon looks to invest $2 to $10 million for equity co-investments, $5 to $30 million for junior capital needs, and $10 to $50 million for senior debt requirements. Areas of interest include business services, healthcare services, distribution, manufacturing and consumer products/services. Funds typically support acquisitions, recapitalizations, refinancings, consolidations, ESOPs and growth capital needs. Maranon Capital LP was formed in 2007 and is based in Chicago. The Firm has additional offices in Birmingham, Michigan and South Bend, Indiana.


DEAL STATS #
Overall 10 of 21
Sector (Chemicals) 2 of 2
Type (Add-on Acquisition) 3 of 4
State (Michigan) 1 of 1
Country (United States) 10 of 21
Year (2018) 1 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-10-23 HaystackID

Washington, District of Columbia, United States

HaystackID is an international end-to-end eDiscovery and forensics services and solutions provider. The Company offers consultation and solutions to corporations and law firms that vastly improve legal hold, data collection and eDiscovery workflow. Haystack's goal is to work collaboratively to lower overall spend and minimize risk while improving efficiency.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-03-08 Engage2Excel

Statesville, North Carolina, United States

Engage2Excel is a provider of employee engagement and recognition programs. Engage2Excel helps clients measure, manage, and improve performance with the industry's only ROI-based employee recognition solution. Engage2Excel was founded in 1892 and is based in Statesville, North Carolina.

Sell -
SELLER

River Associates

Chattanooga, Tennessee, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1989
PE ASSETS 1.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

River Associates is a private equity firm that targets buyouts, divestitures and recapitalizations of lower middle-market companies. River looks for investments in manufacturing, high-margin distribution, industrial services and 'non-faddish' retail companies. The Firm focuses on companies located in the US and Canada with minimum sales of $15 million and EBITDA of $3 to $12 million. River Associates avoids investing in heavily regulated industries as well as start-up, high-technology, commodity or natural resource companies. River Associates was formed in 1989 and is based in Chattanooga, Tennessee.


DEAL STATS #
Overall 20 of 25
Sector (Chemicals) 2 of 2
Type (Add-on Acquisition) 6 of 7
State (Michigan) 2 of 2
Country (United States) 19 of 24
Year (2018) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-06-30 Premier Parking

Nashville, Tennessee, United States

Premier Parking is a provider of parking management solutions for urban, healthcare, hospitality, and mixed-use developments including restaurants, offices, municipal, and special events. The Company’s services include on-site parking management, traffic management, valet and shuttle services, parking enforcement, and parking design and technology consulting services. Premier Parking was established in 2001 and is based in Nashville, Tennessee.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-03-23 Specialty Fenestration Group

Houston, Texas, United States

Specialty Fenestration Group is a niche window and door platform comprised of two industry-leading brands – Quikserv & United States Bullet Proofing. The partnership between Quikserv and USBP leverages the platform’s collective manufacturing and innovation capabilities to provide a comprehensive, and best-in-class line of security and transaction products to the security, glazing and architectural communities.

Buy -