M&A Deal Summary

Cennox Acquires FireKing

On December 1, 2021, Cennox acquired safety/security company FireKing from Midwest Mezzanine Funds and Champlain Capital

Acquisition Highlights
  • This is Cennox’s 1st transaction in the Safety/Security sector.
  • This is Cennox’s 2nd transaction in the United States.
  • This is Cennox’s 1st transaction in Indiana.

M&A Deal Summary
Date 2021-12-01
Target FireKing
Sector Safety/Security
Buyer(s) Cennox
Sellers(s) Midwest Mezzanine Funds
Champlain Capital
Deal Type Add-on Acquisition

Target

FireKing

New Albany, Indiana, United States
FireKing is a manufacturer of fireproof, impact-resistant, document retention and data storage systems. FireKing was founded in 1951 and is based in New Albany, Indiana.

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Buyer(S) 1

Buyer

Cennox

Surrey, United Kingdom
Category Company
Founded 2004
Sector Business Services
DESCRIPTION

Cennox provides ATM services and technology business. The ATM division supplies a range of sector-specific services to banks and ATM service businesses including parts supply, project and field services, and signage. Cennox was founded in 2004 and is based in Surrey, England.

DEAL STATS #
Overall 6 of 11
Sector (Safety/Security) 1 of 1
Type (Add-on Acquisition) 2 of 3
State (Indiana) 1 of 1
Country (United States) 2 of 3
Year (2021) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-06-22 Cennox

Surrey, United Kingdom

Cennox provides ATM services and technology business. The ATM division supplies a range of sector-specific services to banks and ATM service businesses including parts supply, project and field services, and signage. Cennox was founded in 2004 and is based in Surrey, England.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-01-05 Mick s Vault Works

Edmond, Oklahoma, United States

Mick's Vault Works is a product and services installer and maintainer that serves regional and community banks and credit unions. It provides the quickly growing cannabis industry with high-security solutions. Mick's Vault Works is based in Edmond, Oklahoma.

Buy -

Seller(S) 2

SELLER

Midwest Mezzanine Funds

Chicago, Illinois, United States

Investor Investor Investor Investor Investor

Category Mezzanine Finance Firm
Founded 1992
PE ASSETS 1.0B USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Midwest Mezzanine Funds (MMF) is a provider of junior capital to lower middle-market, US and Canadian companies. MMF looks to invest $4 to $15 million to support buyouts, acquisition financings, recapitalizations, and growth capital needs. Prospective companies generally have consistent profits ($3 million of EBITDA), low capital intensity, and sustainable competitive advantages. Broad areas of interest include manufacturing, value-added distribution, and services. MMF will not invest in high technology, energy, or real estate. Midwest Mezzanine was formed in 1992 and has offices in Chicago and Monroe, Michigan.

DEAL STATS #
Overall 47 of 56
Sector (Safety/Security) 2 of 3
Type (Add-on Acquisition) 18 of 24
State (Indiana) 1 of 2
Country (United States) 46 of 55
Year (2021) 3 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-11-24 Rackmount Solutions

Plano, Texas, United States

Rackmount Solutions provides off-the-shelf, custom, and niche server racks, server cabinets, wall mounts, portable cooling solutions, outdoor enclosures, batteries, integrated AC and DC power system solutions, rack accessories, and power, along with installation and maintenance services over the phone. Rackmount Solutions was formed in 2001 and is based in Plano, Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-12-06 Packaging Concepts & Design

Troy, Michigan, United States

Packaging Concepts & Design is a provider of design, and delivery of packaging solutions primarily to the automotive industry including OEMs and Tier One suppliers. Packaging Concepts & Design is based in Troy, Michigan.

Sell -
SELLER

Champlain Capital

San Francisco, California, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2000
PE ASSETS 140M USD
Size Small
Type Sector Agnostic
DESCRIPTION

Champlain Capital Partners is a private equity firm focused on growth capital financings and investments in businesses facing succession issues. The Firm is a generalist investor investor and will consider opportunities in a broad range of manufacturing, service and distribution industries. Target businesses typically have revenues of $10 to $100 million and EBITDA of $3 to $15 million. Champlain prefers companies located in the US. Champlain will not invest in turnaround situations. Champlain Capital Partners was formed in 2000 and is based in San Francisco, California with an additional office in Boston, Massachusetts.

DEAL STATS #
Overall 15 of 15
Sector (Safety/Security) 2 of 2
Type (Add-on Acquisition) 6 of 6
State (Indiana) 1 of 1
Country (United States) 15 of 15
Year (2021) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-09-01 S.R. Smith

Canby, Oregon, United States

S.R. Smith is a global manufacturer specializing in commercial and residential pool deck equipment and accessories. The company operates manufacturing facilities from multiple locations in the United States and Australia. Their products are supported by distributors around the world, with a focus in the United States, Australia, Canada and Europe. S.R. Smith was founded in 1932 and is based in Canby, Oregon.

Sell $240M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-01-13 iPROMOTEu

Wayland, Massachusetts, United States

iPROMOTEu is a service provider to distributor organizations in the promotional products industry. iPROMOTEu was founded in 1999 and is based in Wayland, Massachusetts.

Buy -
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