M&A Deal Summary

Capitala Group Acquires Navis TubeTex

On January 31, 2011, asset manager Capitala Group acquired machinery company Navis TubeTex from HKW

Acquisition Highlights
  • This is Capitala Group’s 2nd transaction in the Machinery sector.
  • This is Capitala Group’s 34th transaction in the United States.
  • This is Capitala Group’s 5th transaction in North Carolina.

M&A Deal Summary

Date 2011-01-31
Target Navis TubeTex
Sector Machinery
Buyer(s) Capitala Group
Sellers(s) HKW
Deal Type Secondary Buyout

Target

Navis TubeTex

Lexington, North Carolina, United States
Navis TubeTex designs, engineers and manufactures the world’s major machinery for the global knit, woven, nonwoven, technical, and geotextile industries. Navis TubeTex was founded in 1929 and is based in Lexington, North Carolina.

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Buyer(S) 1

Buyer

Capitala Group

Charlotte, North Carolina, United States

Investor Investor Investor Investor Investor


Category Asset Manager
Founded 1998
PE ASSETS 2.2B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Capitala Group is an asset manager that provides equity and mezzanine capital to mid-sized companies valued up to $250 million. Funds are generally used to support growth needs, add-on acquisitions, management/leveraged buyouts, and recapitalizations. Capitatala will invest across the US, but generally targets opportunities located in the Southeast. Industry preferences include building products, business services, consumer/reteail, general industrial, healthcare, and technology. Prospective companies typically have revenues greater than $10 million and EBITDA of at least $3 million. Capitala was formed in 1998 and is headquartered in Charlotte, North Carolina.


DEAL STATS #
Overall 35 of 98
Sector (Machinery) 2 of 2
Type (Secondary Buyout) 3 of 9
State (North Carolina) 5 of 8
Country (United States) 34 of 97
Year (2011) 1 of 11
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-12-30 Simply Fresh Foods

Buena Park, California, United States

Simply Fresh Foods produces fresh, all-natural foods for fast-growing segments of the refrigerated products market across a wide range of channels. The company markets its products under several brands. The Rojo’s brand encompasses innovative salsas and dips and is a top label of fresh salsa and layered dips. The company’s San Francisco brand covers a line of seafood salads and has been on the market since 1987.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-02-24 Vology

Clearwater, Florida, United States

Vology is a high-growth strategic solutions provider with the capabilities to handle full Information technology needs from managed services to field services and product solutions. Vology was founded in 1996 and is based in Clearwater, Florida.

Buy -

Seller(S) 1

SELLER

HKW

Indianapolis, Indiana, United States

Investor Investor Investor Investor


Category Private Equity Firm
Founded 1903
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Hammond Kennedy Whitney & Company (HKW) is a private equity firm focused on making control investments in mid-sized, 'market leading' companies generating sales of $5 to $75 million. HKW looks for companies with low risk for technological obsolescence, defined growth strategies, and talented management who want to own equity. Target transaction situations include industry consolidations, corporate divestitures, generational changes in ownership, growth equity, management buy-outs and recapitalizations. HKW prefers North American based opportunities. HKW dates back to 1903, however the Firm transitioned from sole to institutional investors in 2001. The Firm has offices in Indianapolis and New York City.


DEAL STATS #
Overall 8 of 38
Sector (Machinery) 2 of 4
Type (Secondary Buyout) 4 of 19
State (North Carolina) 1 of 2
Country (United States) 8 of 30
Year (2011) 1 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-11-30 Canadian Hospital Specialties

Oakville, Ontario, Canada

Canadian Hospital Specialties manufactures, sells, markets, and distributes disposable medical and surgical products primarily to the Canadian hospital market. Canadian Hospital Specialties is based in Oakville, Ontario.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-04-28 Total Equipment And Service

Granbury, Texas, United States

Total E&S, Inc. (dba Total Equipment And Service) is a manufacturer and designer of proprietary equipment used by oil and national gas well servicing companies, including coiled tubing and pressure pumping trucks.

Sell -