M&A Deal Summary

Clearlake Capital Acquires IXS

On February 4, 2020, private equity firm Clearlake Capital acquired automotive company IXS from Olympus Partners

Acquisition Highlights
  • This is Clearlake Capital’s 5th transaction in the Automotive sector.
  • This is Clearlake Capital’s 56th transaction in the United States.
  • This is Clearlake Capital’s 2nd transaction in Tennessee.

M&A Deal Summary
Date 2020-02-04
Target IXS
Sector Automotive
Buyer(s) Clearlake Capital
Sellers(s) Olympus Partners
Deal Type Secondary Buyout
Advisor(s) Jefferies
Harris Williams (Financial)

Target

IXS

Lebanon, Tennessee, United States
IXS is composed of two divisions, Ground Effects, and IXS Coatings. Ground Effects is the market leader for OEM spray-on pickup truck bedliners, and the division provides additional margin-enhancing vehicle upfit services. IXS Coatings includes LINE-X, a franchisor of 500+ branded service locations and the industry’s largest aftermarket retailer of spray-on bedliners, as well as industrial coating solutions with deep expertise in the formulation of polyurea coatings and high-speed robotic applications that enable bedliner production at OEM scale. IXS is based in Lebanon, Tennessee.

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Buyer(S) 1

Buyer

Clearlake Capital

Santa Monica, California, United States
Category Private Equity Firm
Founded 2006
PE ASSETS 72.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Clearlake Capital Group is a private equity firm that focuses on corporate divestitures, recapitalizations, buyouts, restructurings, rescue financing, growth capital, turnarounds, and other equity investments. Clearlake seeks to partner with strong management teams by providing long-term capital and operational expertise. Areas of interest include technology, industrials, and consumer. Clearlake Capital Group was formed in 2006 and is based in Santa Monica, California.

DEAL STATS #
Overall 59 of 90
Sector (Automotive) 5 of 7
Type (Secondary Buyout) 22 of 39
State (Tennessee) 2 of 2
Country (United States) 56 of 85
Year (2020) 2 of 10
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-01-15 Pretium Packaging

St. Louis, Missouri, United States

Pretium Packaging is a provider of custom, high-performance rigid plastic bottles, and containers, serving a diverse base of customers in the food and specialty beverage, healthcare, sports nutrition, personal care, beauty, and household products end markets. Pretium Packaging was established in 1992 and is based in St. Louis, Missouri.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-02-18 RSA Security

Bedford, Massachusetts, United States

RSA Security is a provider of intelligence-driven security solutions. RSA enables customers to cost-effectively secure critical information assets and online identities wherever they live and at every step of the way, and manage security information and events to ease the burden of compliance. RSA Security was established in 1982 and is based in Bedford, Massachusetts.

Buy $2.1B

Seller(S) 1

SELLER

Olympus Partners

Stamford, Connecticut, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1988
PE ASSETS 8.4B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Olympus Partners is a private equity group focused on investing in growth companies with strong management, and positions in their respective markets. The Firm will consider both venture capital and private equity investments and looks to commit $50 to $300 million per transaction. The Firm focuses its investment activities within the business services, healthcare, financial services, consumer, restaurant, software/IT services, and logistics/transportation industries. Olympus Partners was formed in 1988 and is based in Stamford Connecticut.

DEAL STATS #
Overall 41 of 50
Sector (Automotive) 1 of 1
Type (Secondary Buyout) 9 of 14
State (Tennessee) 2 of 2
Country (United States) 38 of 47
Year (2020) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-12-03 Heniff Transportation Systems

Oak Brook, Illinois, United States

Heniff Transportation Systems is a transportation company that offers liquid chemical transport services. Heniff is a provider of bulk liquid truck, tank washing, ISO, and transloading services. Heniff Transportation Systems was founded in 1998 and is based in Oak Brook, Illinois.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-11-02 Footprint

Gilbert, Arizona, United States

Footprint is a material sciences company focused on sustainable, plant-based packaging solutions serving the world’s largest packaged food producers and other customers in the grocery and QSR channels. Footprint was founded in 2013 and is based in Gilbert, Arizona.

Buy -
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