M&A Deal Summary

Cardinal Equity Partners and MCM Capital Partners Acquire Aspex International

On January 1, 1995, private equity firms Cardinal Equity Partners and MCM Capital Partners acquired test/measurement equipment company Aspex International

Acquisition Highlights
  • This is Cardinal Equity Partners’ 1st and MCM Capital Partners’ 1st transaction in the Test/Measurement Equipment sector.
  • This is Cardinal Equity Partners’ 4th and MCM Capital Partners’ 1st transaction in the United States.
  • This is Cardinal Equity Partners’ 1st and MCM Capital Partners’ 1st transaction in Pennsylvania.
Investment Fate
  • Aspex International was sold to a publicly-traded strategic buyer in 2012 for 31M USD.

M&A Deal Summary

Date 1995-01-01
Target Aspex International
Sector Test/Measurement Equipment
Buyer(s) Cardinal Equity Partners
MCM Capital Partners
Deal Type Buyout (LBO, MBO, MBI)

Target

Aspex International

Delmont, Pennsylvania, United States
Aspex manufacturers proprietary analytical instruments sold into a number of industrial end markets, including: semi-conduction, steel fabrication, textiles and pulp/paper. The Company has developed many application-specific software packages that automate certain highly repetitive, time-consuming tasks.

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Buyer(S) 2

Buyer

Cardinal Equity Partners

Indianapolis, Indiana, United States

Investor Investor Investor


Category Private Equity Firm
Founded 1993
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Cardinal Equity Partners is a privately owned partnership that targets investments in lower middle-market businesses headquartered in the central portion of the US. Cardinal looks for light manufacturing, distribution, or service businesses with $5 to $50 million in revenue and at least $1 million of EBITDA. Prospective transaction situations include management buyouts, recapitalizations, family successions, and corporate spin-offs. Cardinal prefers businesses with proven management, recurring revenue, and no major customer concentration issues. Cardinal will not invest in software, heavy manufacturing, automotive, consulting, or companies with a significant percentage of non-US sales. Cardinal Equity Partners was formed in 1993 and is based in Indianapolis, Indiana.


DEAL STATS #
Overall 4 of 28
Sector: Test/Measurement Equipment M&A 1 of 1
Type: Buyout (LBO, MBO, MBI) M&A Deals 4 of 16
State: Pennsylvania M&A 1 of 1
Country: United States M&A 4 of 28
Year: 1995 M&A 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
1995-01-01 Receivable Funding

Columbus, Ohio, United States

RFC was a specialty finance company focusing on the telecommunications market.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
1997-01-01 Steel Dynamics

Fort Wayne, Indiana, United States

Steel Dynamics is a steel producer and metal recycler. The Company's primary source of revenues are from the manufacture and sale of steel products, processing and sale of recycled ferrous and nonferrous metals, and fabrication and sale of steel joists and deck products. Steel Dynamics was founded in 1993 and is based in Fort Wayne, Indiana.

Sell -
Buyer

MCM Capital Partners

Beachwood, Ohio, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1992
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

MCM Capital Partners is Midwest based private equity firm focused on acquiring niche manufacturers, value added distributors and service companies. Specific areas of interest include specialty chemicals, medical component products, home accessories, engineered materials, packaging, specialty distribution, building products, transportation, and high performance composites. Prospective companies generally have revenues of $8 to $50 million and are valued up to $50 million. Typical transactions include recapitalizations, management buyouts, and divestitures. MCM Capital Partners was formed in 1992 and is based in Beachwood, Ohio.


DEAL STATS #
Overall 1 of 22
Sector: Test/Measurement Equipment M&A 1 of 1
Type: Buyout (LBO, MBO, MBI) M&A Deals 1 of 12
State: Pennsylvania M&A 1 of 1
Country: United States M&A 1 of 21
Year: 1995 M&A 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
1998-01-01 Amrep

Marietta, Georgia, United States

Amrep, Inc. is a specialty chemical formulator and manufacturer of high performance products and professional grade chemical products for the Automotive, Fleet Maintenance, Industrial/MRO Supply, Institutional Supply, and Motorcycle markets under the Misty®, Next DimensionTM, Petro®, i-Chem® and a number of private labeled brands.

Buy -