M&A Deal Summary

Clearlake Capital Acquires Team Technologies

On November 15, 2018, private equity firm Clearlake Capital acquired manufacturer Team Technologies from The Riverside Company and Yukon Partners

Acquisition Highlights
  • This is Clearlake Capital’s 2nd transaction in the Manufacturing sector.
  • This is Clearlake Capital’s 49th transaction in the United States.
  • This is Clearlake Capital’s 1st transaction in Tennessee.

M&A Deal Summary
Date 2018-11-15
Target Team Technologies
Sector Manufacturing
Buyer(s) Clearlake Capital
Sellers(s) The Riverside Company
Yukon Partners
Deal Type Secondary Buyout
Advisor(s) William Blair (Financial)

Target

Team Technologies

Morristown, Tennessee, United States
Team Technologies is a provider of manufacturing solutions provider for medical and dental products. From conceptualization to completion, TEAM Technologies offers the technology and solutions for every stage of the development and manufacturing processes all under ISO 13485 and FDA-regulated guidelines. Team Technologies was founded in 1988 and is based in Morristown, 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 52 of 88
Sector (Manufacturing) 2 of 2
Type (Secondary Buyout) 16 of 38
State (Tennessee) 1 of 1
Country (United States) 49 of 83
Year (2018) 12 of 12
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-11-12 Real Food From the Ground Up

Fairfield, New Jersey, United States

Real Food From the Ground Up is a marketer of plant-based non-GMO chips, pretzels, and crackers made from cauliflower, broccoli, and other vegetables. The products come in a variety of flavors with a serving of vegetables in each serving. Real Food From the Ground Up is based in Fairfield, New Jersey.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-01-14 Jacuzzi

Chino, California, United States

Jacuzzi is a global manufacturer of premium spas, swim spas, whirlpool, soaker and walk-in bathtubs and related bathroom products and accessories. The Company believes that ‘when we feel good, we live a better life.’ The Company operates under multiple brands, including Jacuzzi, Sundance, Dimension One Spas, Hydropool, ThermoSpas, and BathWraps. The Company’s flagship brand, Jacuzzi, is the most recognized in the world for spa and hydrotherapy bathing. Jacuzzi was founded in 1956 and is based in Chino, California.

Sell -

Seller(S) 2

SELLER

The Riverside Company

New York, New York, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1988
PE ASSETS 5.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

The Riverside Company is a global private equity firm that seeks investments in profitable lower middle-market companies valued under $400 million. Riverside looks to invest in growth businesses headquartered in North America, Europe, and Asia (primarily Japan and South Korea), that have been in operation for at least five years. Riverside targets investments in a wide array of industries including distribution, automotive, healthcare, education, manufacturing, software, consumer services, plastics, publishing, food, communications, marine, and business services. Riverside was formed in 1988 and is based in New York City.

DEAL STATS #
Overall 144 of 191
Sector (Manufacturing) 13 of 14
Type (Secondary Buyout) 57 of 77
State (Tennessee) 3 of 4
Country (United States) 102 of 133
Year (2018) 15 of 17
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-11-02 SureWerx

Coquitlam, British Columbia, Canada

SureWerx is a supplier of professional safety products, tools, and equipment. The company offers access to its brands through its partner distributor network servicing the industrial, construction, safety, and automotive aftermarket markets globally. SureWerx was founded in 1957 and is based in Coquitlam, British Columbia.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-11-19 Euromed S.A.

Mollet del Vallès, Spain

Euromed S.A. is a provider of herbal extracts and natural active substances for the pharmaceutical, dietary supplement and cosmetic sectors. Euromed S.A. was founded in 1971 and is based in Mollet del Vallès, Spain.

Sell -
SELLER

Yukon Partners

Minneapolis, Minnesota, United States

Investor Investor Investor Investor Investor

Category Mezzanine Finance Firm
Founded 2008
PE ASSETS 640M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Yukon Partners is a mezzanine finance firm that works with private equity sponsors to fund a variety of investment situations. Yukon looks to invest $10 to $40 million to support buyouts, recapitalizations, take privates, and refinancings. Sectors of interest include automotive, building products, business services, consumer products, food/beverages, healthcare products/services, industrial manufacturing, niche manufacturing, and transportation/logistics. Prospective companies generally have revenues of $30 to $500 million and are profitable with EBITDA of $5 to $50 million. Yukon Partners was formed in 2008 and is based in Minneapolis, Minnesota.

DEAL STATS #
Overall 12 of 28
Sector (Manufacturing) 2 of 3
Type (Secondary Buyout) 7 of 17
State (Tennessee) 2 of 2
Country (United States) 12 of 27
Year (2018) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-06-07 GSM Outdoors

Irving, Texas, United States

GSM Outdoors specializes in developing and marketing innovative products for the hunting, sport shooting, and rugged outdoor enthusiast market. GSM owns 20+ industry-leading brands including stealth cam, walker’s, muddy outdoors, birchwood casey, hawk, cyclops, western rivers, american hunter, HME, and SME among others. GSM’s strong focus on innovation, product development, rigorous quality control, and customer support has earned it a reputation for delivering top quality outdoor gear backed by industry-leading customer service. GSM Outdoors was founded in 1999 and is based in Irving, Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-11-28 Apex Companies

Rockville, Maryland, United States

Apex is a multi-disciplinary environmental services firm with 28 branches located throughout the Eastern and Central United States. The company provides a broad platform of environmental services, including stormwater system design, engineering, and maintenance; ports, harbors, and water system design and engineering; environmental remediation; industrial hygiene services; and general site assessment, regulatory compliance, and environmental consulting work. Apex was formed in 1988 and is headquartered in Rockville, Maryland.

Buy -
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