Investment Summary

Centerfield Capital Partners, High Street Capital and Prism Capital Exits Banner Industries

On January 9, 2019, invested in metals/mining company Banner Industries from Centerfield Capital Partners, High Street Capital and Prism Capital

Investment Highlights
  • This is transaction in the Metals/Mining sector.
  • This is transaction in the United States.
  • This is transaction in Illinois.

Investment Summary

Date 2019-01-09
Target Banner Industries
Sector Metals/Mining
Sellers(s) Centerfield Capital Partners
High Street Capital
Prism Capital
Deal Type Secondary Sale

Target

Banner Industries

Carol Stream, Illinois, United States
Banner Industries is a processor and distributor of metal bar products for a diverse set of industrial and medical end markets. Banner provides supply chain solutions and a variety of value-added metal processing services, including centerless grinding, chamfering, turning, precision saw cutting, straightening, material ID and full traceability, waterjet cutting, ultrasonic testing, and CNC machining to its OEM, contract manufacturer, and precision machining customers. Banner Industries was founded in 1961 and is based in Carol Stream, Illinois.

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Seller(S) 3

SELLER

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 31 of 47
Sector: Metals/Mining M&A 1 of 1
Type: Secondary Sale M&A Deals 3 of 3
State: Illinois M&A 2 of 2
Country: United States M&A 31 of 47
Year: 2019 M&A 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-12-13 Simply Fresh Foods

Buena Park, California, United States

Simply Fresh Foods produces fresh, all-natural foods for fast-growing segments of the refrigerated products market across a wide range of channels. The company markets its products under several brands. The Rojo’s brand encompasses innovative salsas and dips and is a top label of fresh salsa and layered dips. The company’s San Francisco brand covers a line of seafood salads and has been on the market since 1987.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-07-01 Wild Sports

Westfield, Indiana, United States

Wild Sports is a manufacturer and provider of licensed and branded tailgating, homegating and outdoor games. Wild Sports brand has achieved category leadership at big-box retailers and continues its significant expansion with leading on-line retailers as well. Wild Sports products include well-known games such as Cornhole, Tailgate Toss, and Stackers, in addition to other tailgating accessories such as team-branded tables and chairs.

Sell -
SELLER

High Street Capital

Chicago, Illinois, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1997
PE ASSETS 165M USD
Size Small
Type Sector Agnostic
DESCRIPTION

High Street Capital is a private investment firm focused on acquiring lower middle-market businesses generating revenues $10-$100 million with an EBITDA up to $15 million. The Firm typically invests in recapitalizations, management buyouts and growth equity financings. Target sectors include business services, aerospace/defense, healthcare product manufacturers and suppliers, testing and analytical services, chemicals and coatings, specialty plastics, and test/measurement equipment manufacturers. High Street looks to commit $2 to $8 million of equity per transaction and will consider both control and non-control situations. High Street will not invest in retail businesses, restaurants, oil and gas, entertainment, commodities, turnarounds, or start-ups. High Street Capital was formed in 1997 and is based in Chicago, Illinois.


DEAL STATS #
Overall 9 of 15
Sector: Metals/Mining M&A 1 of 2
Type: Secondary Sale M&A Deals 1 of 1
State: Illinois M&A 1 of 1
Country: United States M&A 9 of 15
Year: 2019 M&A 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-10-01 Open Range Beef

Gordon, Nebraska, United States

Open Range Beef is a niche provider of beef processing services, focused on serving the certified organic, grass-fed, antibiotic-free, toll processing, and other niche markets that require small production runs, traceability, segregation, and quality processes. Open Range Beef is based in Gordon, Nebraska.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-03-01 Commodity Blenders

West Salem, Ohio, United States

Commodity Blenders is an independent feed mill producing and delivering custom dairy, poultry and swine feed directly to farm operations in a seven-state region. Commodity Blenders was founded in 1997 and is based in West Salem, Ohio.

Buy -
SELLER

Prism Capital

Chicago, Illinois, United States

Investor Investor Investor Investor


Category Mezzanine Finance Firm
Founded 1999
PE ASSETS 190M USD
Size Small
Type Sector Agnostic
DESCRIPTION

Prism Capital is a licensed SBIC investment firm focused on providing equity and mezzanine capital to lower middle market companies. Prism's Mezzanine practice looks to provide up to $7 million in financing for Midwest based mature industrial companies. Mezzanine capital is typically invested to support internal growth, recapitalizations, mergers, acquisitions and ownership changes. Prism also provides equity of $2 to $15 million through an Opportunity Fund. The Opportunity Fund invests in expansion stage IT companies as well as traditional manufacturing and service businesses with growth opportunities. Prism Capital was formed in 1999 and is based in Chicago, Illinois.


DEAL STATS #
Overall 30 of 30
Sector: Metals/Mining M&A 3 of 3
Type: Secondary Sale M&A Deals 1 of 1
State: Illinois M&A 7 of 7
Country: United States M&A 30 of 30
Year: 2019 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-12-10 Via seating

Sparks, Nevada, United States

Via seating is a manufacturer of chairs in the categories of executive, conference, task, multipurpose, lounge, and motion. Via seating was founded in 1987 and is based in Sparks, Nevada.

Sell -