M&A Deal Summary

Buckingham Capital Partners Acquires SRC Worldwide

On January 4, 2011, private equity firm Buckingham Capital Partners acquired chemicals company SRC Worldwide from Monomoy Capital Partners

Acquisition Highlights
  • This is Buckingham Capital Partners’ 4th transaction in the Chemicals sector.
  • This is Buckingham Capital Partners’ 10th transaction in the United States.
  • This is Buckingham Capital Partners’ 2nd transaction in Ohio.
Investment Fate
  • SRC Worldwide went bankrupt in 2013.
  • SRC Worldwide was sold to a financial buyer in 2014.

M&A Deal Summary

Date 2011-01-04
Target SRC Worldwide
Sector Chemicals
Buyer(s) Buckingham Capital Partners
Sellers(s) Monomoy Capital Partners
Deal Type Secondary Buyout
Advisor(s) Lincoln International (Financial)

Target

SRC Worldwide

Cleveland, Ohio, United States
SRC Worldwide is a producer of fused magnesium flux, a critical chemical component in the production and recycling of magnesium and aluminum alloys. Magnesium flux is also used in a variety of industrial and other applications, including desiccants and the manufacture of specialized catalysts.

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Buyer(S) 1

Buyer

Buckingham Capital Partners

New York, New York, United States

Category Private Equity Firm
Founded 2004
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Buckingham Capital Partners is a private investment firm specializing in leveraged buyouts and recapitalizations of middle-market industrial and manufacturing companies. Buckingham looks to makes control equity investments of $2 to $15 million in companies valued up to $100 million. Buckingham prefers to invest in companies headquartered in the US. Prospective businesses generally have stable cash-flows and are strong competitors in the markets they serve. Buckingham Partners was formed in 2003 and is based in New York City.


DEAL STATS #
Overall 10 of 10
Sector: Chemicals M&A 4 of 4
Type: Secondary Buyout M&A Deals 1 of 1
State: Ohio M&A 2 of 2
Country: United States M&A 10 of 10
Year: 2011 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2008-07-01 Aspect Automation

Saint Paul, Minnesota, United States

Aspect Automation, LLC formerly known as – Remmele Engineering’s Automation Division is a recognized leader in the design and build of custom automation solutions and related engineering services. The Company employs over 100 people in their Saint Paul, Minnesota facility.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-03-23 Quest Specialty Chemicals

Charleston, South Carolina, United States

Quest Specialty Chemicals is a specialty chemicals and coatings business. QSC is engaged in the formulation, manufacturing, and marketing of coatings designed to repair, restore, and preserve the assets of our customers. Quest Specialty Chemicals is based in Charleston, South Carolina.

Sell -

Seller(S) 1

SELLER

Monomoy Capital Partners

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2005
PE ASSETS 5.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Monomoy Capital Partners is a private equity firm that invests in mid to large-sized companies valued up to $1 billion. Monomoy prefers cash flow positive companies with $20 to $200 million of EBITDA. Sectors of interest include automotive, industrial, distribution, consumer products, packaging, and transportation. Monomoy Capital Partners was formed in 2005 and is headquartered in New York City.


DEAL STATS #
Overall 2 of 23
Sector: Chemicals M&A 1 of 1
Type: Secondary Buyout M&A Deals 1 of 7
State: Ohio M&A 1 of 4
Country: United States M&A 2 of 23
Year: 2011 M&A 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-07-09 Heat Transfer Products Group

Scottsboro, Alabama, United States

Heat Transfer Products Group, LLC engages in design, manufacture and market refrigeration components and equipment used by food retailers and restaurants, sports arenas and warehouses, blood banks and pharmaceutical companies.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-04-21 Steel Parts Manufacturing Inc

Tipton, Indiana, United States

Steel Parts Manufacturing, Inc. is a manufacturer of components for automotive transmissions and other motion applications. The company manufactures precision components for transmissions in the automotive and heavy-duty markets, along with products for suspension systems, heavy-duty brake programs and steering applications. Headquartered in Tipton, Indiana,

Buy -