M&A Deal Summary

Carousel Capital Acquires Process Barron

On March 6, 2019, private equity firm Carousel Capital acquired machinery company Process Barron from The Sterling Group

Acquisition Highlights
  • This is Carousel Capital’s 1st transaction in the Machinery sector.
  • This is Carousel Capital’s 27th transaction in the United States.
  • This is Carousel Capital’s 5th transaction in Alabama.

M&A Deal Summary
Date 2019-03-06
Target Process Barron
Sector Machinery
Buyer(s) Carousel Capital
Sellers(s) The Sterling Group
Deal Type Secondary Buyout

Target

Process Barron

Pelham, Alabama, United States
Process Barron designs, manufactures, and installs industrial process fans and material handling systems and provides follow-on service and maintenance for this equipment. Process Barron serves various industries including pulp and paper, power, steel, cement, food, and agriculture. Process Barron was founded in 1981 and is based in Pelham, Alabama.

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Buyer(S) 1

Buyer

Carousel Capital

Charlotte, North Carolina, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1996
PE ASSETS 1.3B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Carousel Capital is a private investment group that invests in companies headquartered in the Southeast US. The Firm targets leveraged buyouts and recapitalizations of businesses in consumer products/services, business services, and healthcare services. Carousel will consider both the majority and minority situations. Prospective companies are generally valued up to $250 million and have at least $3 million of EBITDA. Carousel Capital was formed in 1996 and is based in Charlotte, North Carolina.

DEAL STATS #
Overall 27 of 37
Sector (Machinery) 1 of 1
Type (Secondary Buyout) 6 of 6
State (Alabama) 5 of 7
Country (United States) 27 of 37
Year (2019) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-12-06 Caldwell & Gregory

Manakin-Sabot, Virginia, United States

Caldwell & Gregory is a provider of turnkey laundry facility management services for customers in the university and multifamily housing markets. C&G owns and services over 50,000 laundry machines across 23 states and the District of Columbia. Caldwell & Gregory was founded in 1990 and is based in Manakin-Sabot, Virginia.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-04-16 Palmetto Infusion

West Columbia, South Carolina, United States

Palmetto Infusion is a provider of high-touch specialty infusion services to patients with complex, acute, and chronic conditions. Infusion was founded in 1999 and is based in West Columbia, South Carolina.

Buy -

Seller(S) 1

SELLER

The Sterling Group

Houston, Texas, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1982
PE ASSETS 2.1B USD
Size Large
Type Sector Agnostic
DESCRIPTION

The Sterling Group is a private equity firm focused on acquiring middle-market businesses within basic manufacturing, industrial services, and distribution. Sterling looks for companies valued from $100 to $750 million with positive cash-flow, strong market positions, and potential to grow. Sterling avoids investments in financial services, real estate, healthcare, or information technology companies. The Sterling Group was formed in 1982 and is based in Houston, Texas.

DEAL STATS #
Overall 27 of 29
Sector (Machinery) 3 of 4
Type (Secondary Buyout) 13 of 15
State (Alabama) 1 of 1
Country (United States) 24 of 26
Year (2019) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-01-04 Saxco

Concord, California, United States

Saxco International LLC is a provider of rigid packaging solutions to the wine, beer, liquor, and food industries. Saxco International was founded in 1936 and is based in Concord, California.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-03-15 Polychem

Mentor, Ohio, United States

Polychem Corp. is a securement packaging industry. Polychem manufactures polyester ("PET") and polypropylene strapping consumables, securement equipment and related products, serving the food and beverage, consumer packaged goods, and industrial industries. Polychem Corp. was founded in 1974 and is based in Mentor, Ohio.

Buy -
Mergr

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