M&A Deal Summary

Center Rock Capital Partners and Leelanau Private Capital Acquire Eastern Wholesale Fence

On November 5, 2020, private equity firms Center Rock Capital Partners and Leelanau Private Capital acquired building materials company Eastern Wholesale Fence from NewSpring Capital and Corinthian Capital Group

Acquisition Highlights
  • This is Center Rock Capital Partners’ 1st and Leelanau Private Capital’s 1st transaction in the Building Materials sector.
  • This is Center Rock Capital Partners’ 6th and Leelanau Private Capital’s 1st transaction in the United States.
  • This is Center Rock Capital Partners’ 1st and Leelanau Private Capital’s 1st transaction in New York.

M&A Deal Summary
Date 2020-11-05
Target Eastern Wholesale Fence
Sector Building Materials
Buyer(s) Center Rock Capital Partners
Leelanau Private Capital
Sellers(s) NewSpring Capital
Corinthian Capital Group
Deal Type Secondary Buyout
Advisor(s) Lincoln International (Financial)
Clifford Chance (Legal)

Target

Eastern Wholesale Fence

Medford, New York, United States
Eastern Wholesale Fence is a manufacturer and distributor of a full range of fence products. Eastern Wholesale Fence produces poly vinyl-chloride (“PVC”), wood, and chain link fence and railing products. Eastern Wholesale Fence was founded in 1971 and is based in Medford, New York.

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Buyer(S) 2

Buyer

Center Rock Capital Partners

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2017
Size Middle-Market
Type Sector Focused
DESCRIPTION

Center Rock Partners is a private investment group focused on investing in middle-market industrial companies headquartered in North America that serve domestic and global markets. The Firm generally pursues companies with $50 to $500 million in revenue and up to $50 million of EBITDA. Specific areas of interest include Industrial manufacturing, industrial distribution and industrial services. Center Rock Capital Partners was formed in 2017 and is headquartered in Chicago, Illinois.

DEAL STATS #
Overall 6 of 9
Sector (Building Materials) 1 of 1
Type (Secondary Buyout) 4 of 5
State (New York) 1 of 1
Country (United States) 6 of 9
Year (2020) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-02-11 TAG Manufacturing

Chattanooga, Tennessee, United States

TAG Manufacturing is a designer and manufacturer of highly engineered attachments for construction and earth-moving applications in North America. TAG manufactures universal attachments for excavators and loaders serving material handling, construction, agriculture, and municipal end markets.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-03-03 Flanders

Evansville, Indiana, United States

Flanders is a provider of electrical motor and component services, and automation and control systems for heavy industrial applications. The Company serves mining, mills, general industrial, power & utilities, oil & gas, and marine customers from its 17 locations across 5 continents.

Buy -
Buyer

Leelanau Private Capital

Category Private Equity Firm
Founded 2020
Size Small
Type Sector Agnostic
DESCRIPTION

Leelanau Private Capital (LPC) is a private equity firm focused on control investments in businesses located in the Eastern and Central US. Target companies generally have $10 to $200 million in revenue and $3 to $20 million of EBITDA. LPC typically invests in the manufacturing and distribution sectors, and does not invest in start-ups. Leelanau Private Capital was founded in 2020 and is based in Birmingham, Michigan.

DEAL STATS #
Overall 1 of 4
Sector (Building Materials) 1 of 2
Type (Secondary Buyout) 1 of 1
State (New York) 1 of 1
Country (United States) 1 of 4
Year (2020) 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-07-30 Titanus Cement Wall

Novi, Michigan, United States

Titanus Cement Wall is a construction contractor engaged in the pouring of concrete walls for residential builders in southeast Michigan. Titanus Cement Wall was founded in 1951 and is based in Novi, Michigan.

Buy -

Seller(S) 2

SELLER

NewSpring Capital

Radnor, Pennsylvania, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1999
PE ASSETS 3.5B USD
Size Large
Type Sector Agnostic
DESCRIPTION

NewSpring Capital is a private investment firm focused on growth companies in the Mid-Atlantic US. The Firm can provide both growth equity and junior capital to prospective companies. NewSpring's target investment size for both mezzanine and equity financing is $2 to $5 million, although for new ventures, the Firm can commit up to $10 million. Sectors of interest include specialty manufacturing, technology, business services, information technology, life science, healthcare services, and medical devices. NewSpring Capital was formed in 1999 and is based in Radnor, Pennsylvania with an additional office in Short Hills, New Jersey.

DEAL STATS #
Overall 64 of 86
Sector (Building Materials) 1 of 1
Type (Secondary Buyout) 14 of 20
State (New York) 4 of 6
Country (United States) 63 of 85
Year (2020) 4 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-11-01 ConTeras

Houston, Indiana, United States

ConTeras is a provider of commercial and industrial multi-craft service contractor delivering scaffolding solutions, industrial insulation, industrial painting, heat tracing, abatement, remediation, and general maintenance. ConTeras was founded in 2020 and is based in Houston, Indiana.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-11-16 Atlantic Metro Communications

Parsippany, New Jersey, United States

Atlantic Metro Communications, Inc. is an infrastructure service provider delivering innovative IT solutions to businesses nationwide. Atlantic Metro combines cloud hosting, colocation services, and network connectivity solutions with round-the-clock managed services so you can improve operational efficiency and scale your business as needed. Atlantic Metro Communications was founded in 2007 and is based in Parsippany, New Jersey.

Sell -
SELLER

Corinthian Capital Group

New York, New York, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2005
Size Small
Type Sector Agnostic
DESCRIPTION

Corinthian Capital Group is a private equity firm that targets middle market-company investments located in North America. Corinthian prefers investments in consumer product, niche manufacturing, distribution, and service companies with revenues between $50 and $300 million with an EBITDA of $5 - $30 million. Corinthian typically targets opportunities brought on by generational turnover, shareholder liquidity, or corporate restructuring. Corinthian Capital was formed in 2005 and is based in New York City with additional office in Boston.

DEAL STATS #
Overall 11 of 12
Sector (Building Materials) 2 of 2
Type (Secondary Buyout) 6 of 6
State (New York) 3 of 3
Country (United States) 11 of 12
Year (2020) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-06-28 Alumacraft Boat

St. Peter, Minnesota, United States

Alumacraft Boat Co. is a manufacturer of branded 10 to 20-foot aluminum fishing boats for lake and river use. Alumacraft offers a diverse product line with flexible manufacturing and a reputation for delivering the highest quality, smoothest riding aluminum fishing boats in the industry. Alumacraft Boat was founded in 1946 and is based in St. Peter, Minnesota.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-08-10 Metaltec Steel Abrasive

Canton, Michigan, United States

Metaltec Steel Abrasive is a producer of cast steel abrasive products, including steel shot and steel grit, along with several niche materials that are produced as a byproduct of the grit and shot manufacturing process. Metaltec Steel Abrasive was founded in 1981 and is based in Canton, Michigan.

Sell -
Mergr

Product

Company

Legal