M&A Deal Summary

Centerfield Capital Partners and LFM Capital Acquire Heartland Steel Products

On January 1, 2016, mezzanine finance firm Centerfield Capital Partners and private equity firm LFM Capital acquired manufacturer Heartland Steel Products

Acquisition Highlights
  • This is Centerfield Capital Partners’ 2nd and LFM Capital’s 1st transaction in the Manufacturing sector.
  • This is Centerfield Capital Partners’ 42nd and LFM Capital’s 2nd transaction in the United States.
  • This is Centerfield Capital Partners’ 5th and LFM Capital’s 2nd transaction in Michigan.

M&A Deal Summary
Date 2016-01-01
Target Heartland Steel Products
Sector Manufacturing
Buyer(s) Centerfield Capital Partners
LFM Capital
Deal Type Buyout (LBO, MBO, MBI)

Target

Heartland Steel Products

Marysville, Michigan, United States
Heartland Steel Products is a manufacturer of engineered structural steel platforms and mezzanine systems for warehousing and distribution facilities. Heartland Steel Products was established in 2008 and is based in Marysville, Michigan.

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Buyer(S) 2

Buyer

Centerfield Capital Partners

Indianapolis, Indiana, United States

Investor Investor Investor Investor Investor

Category Mezzanine Finance Firm
Founded 2001
PE ASSETS 1.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Centerfield Capital Partners is a private investment firm that provides subordinated debt and equity capital to mid-market companies. Prospective transactions include acquisition financings, management buyouts, shareholder liquidity needs, recapitalizations, corporate divestitures, ESOP financings, and sponsored/unsponsored transactions. Centerfield generally invests in companies with sales of $15 to $100 million and EBITDA of $3 to $15 million. Target sectors include manufacturing, business services, healthcare services, and transportation/distribution. Centerfield will not invest in early stage businesses, turnaround situations, retail, real estate, and finance companies. Centerfield Capital Partners was founded in 2001 and is based in Indianapolis, Indiana.

DEAL STATS #
Overall 42 of 78
Sector (Manufacturing) 2 of 4
Type (Buyout (LBO, MBO, MBI)) 23 of 32
State (Michigan) 5 of 6
Country (United States) 42 of 78
Year (2016) 2 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-01-01 Strategic Pharma Solutions

Raleigh, North Carolina, United States

Strategic Pharma Solutions is a healthcare communications agency focused on bringing clients tailor-made, strategic solutions for their marketing and communications needs. Specializing in digital, strategy, scientific and creative, SPS boasts a scaled agency model that eliminates high overhead costs for our customers.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-01-07 Cosmic Pet

Wichita, Kansas, United States

Cosmic Pet is a designer, marketer, and distributor of pet products, including toys, beds, collars and leashes, treats, feeders and bowls, and other accessories. Cosmic Pet is based in Wichita, Kansas.

Buy -
Buyer

LFM Capital

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2014
PE ASSETS 110M USD
Size Small
Type Sector Agnostic
DESCRIPTION

LFM Capital is a private equity investor focused on acquiring North American manufacturing and industrial services businesses. The Firm looks to invest in lower middle-market companies generating sales of $10 to $150 million and EBITDA between $3 and $15 million. LFM Capital was founded in 2014 and headquartered in Nashville, Tennessee.

DEAL STATS #
Overall 2 of 20
Sector (Manufacturing) 1 of 9
Type (Buyout (LBO, MBO, MBI)) 2 of 6
State (Michigan) 2 of 4
Country (United States) 2 of 20
Year (2016) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-06-17 Invio Automation

Lansing, Michigan, United States

Invio Automation designs, builds, and sustains advanced industrial solutions used to solve complex manufacturing needs. The company's proven portfolio of Industry 4.0 technology includes autonomous guided vehicles (AGVs), collaborative robot systems, traditional robotics, assembly automation & simulation, 3D printing tool development & production, and Factory of the Future consulting for manufacturers. Invio Automation was formed in 1974 and is based in Lansing, Michigan.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-08-18 Vektek

Emporia, Kansas, United States

Vektek is a designer and manufacturer of hydraulic clamps and related products that are used to secure parts during the metal cutting process associated with CNC machining. Vektek’s extensive product offering of highly-engineered workholding products includes hydraulic clamps, work supports, cylinders, valves, and power supplies. Vektek serves a loyal, highly diverse, and global customer base primarily comprised of end users that machine high-volume precision parts themselves and fixture builders that manufacture and assemble workholding devices that are sold to end users. Vektek’s products serve a wide range of industries including automotive, rail, agriculture, and aerospace. Vektek was founded in 1974 and is based in Emporia, Kansas.

Buy -
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