Recapitalization • Defense

BRS and Triangle Capital Acquire Magpul Industries

On September 22, 2011, private equity firms BRS and Triangle Capital acquired defense company Magpul Industries

Acquisition Context
  • This is BRS’s 2nd and Triangle Capital’s 1st transaction in the Defense sector.
  • This is BRS’s 31st and Triangle Capital’s 59th transaction in the United States.
  • This is BRS’s 1st and Triangle Capital’s 1st transaction in Colorado.

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M&A Deal Summary

Date September 22, 2011
Target Magpul Industries
Sector Defense
Buyer(s) BRS
Triangle Capital
Deal Type Recapitalization
Advisor(s) Integris Partners (Financial)

Target Company

Magpul Industries

Boulder, Colorado, United States
Magpul Industries Corp. designs, assembles and markets a range of innovative, performance-driven accessories for firearms. The Company’s products include polymer-based magazines, sights, stocks, slings, grips, rails and other accessories primarily for the AR-15 rifle platform. Magpul also offers firearms training classes, training videos and other consumer products which embody the brand’s spirit of self-sufficiency. Magpul was formed in 1999 and is based in Boulder, Colorado.
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Buyers Overview 2

Buyer

BRS

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1995
PE ASSETS 1.2B USD
Size Large
Type Sector Agnostic
DESCRIPTION

BRS is a private equity investment firm that specializes in management buyouts and recapitalizations of middle-market companies with strong market positions and growth potential. Broad areas of interest include consumer products, consumer services, food/nutrition, restaurants, retail, and distribution. BRS looks to commit $10 to $25 million per transaction. BRS was formed in 1995 and is based in New York, New York.


Deal Context for Buyer #
Overall 32 of 46
Sector: Defense 2 of 2
Type: Recapitalization 8 of 8
State: Colorado 1 of 1
Country: United States 31 of 42
Year: 2011 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-06-13 Il Fornaio

Corte Madera, California, United States

Il Fornaio is an upscale restaurant concept serving creatively prepared, premium-quality Italian cuisine based on authentic regional recipes. Il Fornaio's wholesale bakeries produce over 100 varieties of hand-made breads, pastries and other artisan baked goods for sale at their own locations. Il Fornaio was founded in 1980 and is based in Corte Madera, California.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-11-08 McCormick and Schmick

Portland, Oregon, United States

McCormick and Schmick Restaurant Corp. owns and operates 34 full-service, casual dining seafood restaurants located in 15 states. McCormick and Schmick restaurants specialize in serving fresh seafood at moderate prices in a classic atmosphere. The Company also manages a catering operation in several locations.

Sell $136M
Buyer

Triangle Capital

Raleigh, North Carolina, United States

Category Private Equity Firm
Founded 2007
Size Middle-Market
Type Sector Agnostic
DESCRIPTION


Deal Context for Buyer #
Overall 59 of 114
Sector: Defense 1 of 2
Type: Recapitalization 14 of 20
State: Colorado 1 of 2
Country: United States 59 of 112
Year: 2011 12 of 15
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-09-02 PetroLiance

Apex, North Carolina, United States

PetroLiance LLC is a distributor of industrial, commercial and passenger vehicle lubricants, fuel and ancillary products and services.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-09-23 Venture Technology Groups

Farmington Hills, Michigan, United States

Venture Technology Groups, Inc. is a distributor of fluid handling systems, measurement equipment, and communication devices which are critical to the operation and monitoring of production processes in industrial facilities.

Buy -