M&A Deal Summary

Center Rock Capital Partners Acquires Merit Distribution

On April 4, 2019, private equity firm Center Rock Capital Partners acquired distribution company Merit Distribution from Centre Lane Partners

Acquisition Highlights
  • This is Center Rock Capital Partners’ 3rd transaction in the Distribution sector.
  • This is Center Rock Capital Partners’ 3rd transaction in the United States.
  • This is Center Rock Capital Partners’ 1st transaction in South Carolina.

M&A Deal Summary

Date 2019-04-04
Target Merit Distribution
Sector Distribution
Buyer(s) Center Rock Capital Partners
Sellers(s) Centre Lane Partners
Deal Type Secondary Buyout

Target

Merit Distribution

Spartanburg, South Carolina, United States
Merit Distribution is a full-line distributor of painting and flooring installation sundries. Merit, through its Lancaster and E.J. Welch brands, provides just-in-time delivery to retailers and installers of sundries, tools, and products used for painting and flooring installation. Merit Distribution is based in Spartanburg, South Carolina.

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Buyer(S) 1

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 3 of 9
Sector (Distribution) 3 of 3
Type (Secondary Buyout) 2 of 5
State (South Carolina) 1 of 1
Country (United States) 3 of 9
Year (2019) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-09-18 LINC Systems

Westfield, Indiana, United States

LINC Systems is a distributor of fastening solutions and industrial supplies serving a broad range of industrial end markets including pallet, furniture, housing, construction, and general industrial. LINC Systems was founded in 1995 and is based in Westfield, Indiana.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-05-07 Signature Systems Group

Flower Mound, Texas, United States

Signature Systems Group is a manufacturer of composite mats for worksite safety and ground protection. Signature Systems Group’s products are utilized in the construction, power transmission, infrastructure, energy, and special events industries. Signature Systems Group was formed in 1998 and is based in Flower Mound, Texas.

Buy -

Seller(S) 1

DESCRIPTION

Centre Lane Partners is a private investment firm focused on making credit and equity, control and non-control, investments in North American middle-market companies. Centre Lane targets companies with revenues between $20 and $500 million that have leading market positions and sustainable competitive advantages in their respective niches. The Firm does not have any sector preferences and seeks to invest $5 to $250 million per transaction. Centre Lane Partners was formed in 2007 and is headquartered in New York City.


DEAL STATS #
Overall 6 of 7
Sector (Distribution) 2 of 2
Type (Secondary Buyout) 3 of 4
State (South Carolina) 1 of 1
Country (United States) 5 of 6
Year (2019) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-01-02 Turning Technologies

Youngstown, Ohio, United States

Turning Technologies LLC develops interactive response systems utilizing software and hardware tools available and transforms them into state of the art applications for audience response. Turning's flagship products, the TurningPoint Software and ResponseCard (Keypads), integrate with Microsoft's PowerPoint software, providing the most advanced combination of knowledge and technology currently available in the field of audience and student assessment. Turning Technologies was founded in 2002 and is based in Youngstown, Ohio.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-09-13 Hollander Sleep Products

Boca Raton, Florida, United States

Hollander Sleep Products is a producer of sleep products, including high-quality synthetic and down (natural) filled pillows, comforters, mattress pads and other related bedding products.

Buy -