Recapitalization • Test/Measurement Equipment

ClearLight Partners, Black Canyon Capital and Industrial Growth Partners Acquire TASI

On May 31, 2007, private equity firms ClearLight Partners, Black Canyon Capital and Industrial Growth Partners acquired test/measurement equipment company TASI from Industrial Growth Partners

Acquisition Context
  • This is ClearLight Partners’ 1st, Black Canyon Capital’s 1st and Industrial Growth Partners’ 2nd transaction in the Test/Measurement Equipment sector.
  • This is ClearLight Partners’ 8th, Black Canyon Capital’s 4th and Industrial Growth Partners’ 12th transaction in the United States.
  • This is ClearLight Partners’ 1st, Black Canyon Capital’s 1st and Industrial Growth Partners’ 3rd transaction in Ohio.
Investment Fate
  • TASI was sold to a consortium of financial buyers in 2014.

Explore All 18 Recapitalization Test/Measurement Equipment Deals - Search the Database Free


M&A Deal Summary

Date May 31, 2007
Target TASI
Sector Test/Measurement Equipment
Buyer(s) ClearLight Partners
Black Canyon Capital
Industrial Growth Partners
Sellers(s) Industrial Growth Partners
Deal Type Recapitalization

Target Company

TASI

Harrison, Ohio, United States
TASI is a manufacturer of highly-engineered leak test and measurement equipment designed to enhance manufacturing efficiency in the automotive, plastics, industrial and pharmaceutical end markets. TASI was founded in 1981 and is headquartered in Harrison, Ohio.
Explore More Deals

Browse All 215,130 Deals

FILTER BY

  • Buyer Type (PE or Strategic)
  • Deal Size ($10M to $10B+)
  • Sector (60 Sectors)
  • Deal Type
  • Geography
  • & More

Search Free

Buyers Overview 3

Buyer

ClearLight Partners

Newport Beach, California, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2000
PE ASSETS 900M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

ClearLight Partners LLC is a private equity firm that invests in mid-sized companies with strong cash-flow margins and limited capital intensity. ClearLight looks for US and Canadian headquartered companies with annual revenues between $25 and $250 million and EBITDA of $4 and $15 million. ClearLight targets investments across a broad range of industries with a particular interest in specialty manufacturing and distribution, business services, education and training, healthcare services, specialty finance, and consumer products and services. The Firm's target investment size is $10 to $50 million per transaction. ClearLight Partners was formed in 2000 and is based in Newport Beach, California.


Deal Context for Buyer #
Overall 8 of 22
Sector: Test/Measurement Equipment 1 of 1
Type: Recapitalization 1 of 2
State: Ohio 1 of 2
Country: United States 8 of 22
Year: 2007 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2006-09-06 Richardson Sales Performance

Philadelphia, Pennsylvania, United States

Richardson Sales Performance is a provider of sales training and consulting firm. Richardson Sales Performance was founded in 1979 and is based in Philadelphia, Pennsylvania.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-07-09 Katzkin Leather Interiors

Montebello, California, United States

Katzkin Leather Interiors is a designer, manufacturer, and distributor of made-to-order leather interiors for automobiles and light trucks. Katzkin’s product line also includes seat-heating components, mobile electronics, and other aftermarket accessories. Katzkin was founded in 1983 and is based in Montebello, California.

Buy -
Buyer

Black Canyon Capital

Los Angeles, California, United States

Category Private Equity Firm
Founded 2004
PE ASSETS 1.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Black Canyon is a private investment firm that targets both equity and debt/mezzanine related investments in middle-market companies. Sectors of interest include business services, consumer products, financial services, industrial/niche manufacturing, healthcare, media, restaurants, and retail. Black Canyon's target investment size is $25 to $50 million in businesses with at least $5 million of EBITDA. Prospective investment situations can include leveraged buyouts, management buyouts, recapitalizations/refinancings, and growth/acquisition financings. Black Canyon Capital was formed in 2004 and is based in Los Angeles, California.


Deal Context for Buyer #
Overall 4 of 7
Sector: Test/Measurement Equipment 1 of 2
Type: Recapitalization 1 of 2
State: Ohio 1 of 1
Country: United States 4 of 7
Year: 2007 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2006-12-01 Logan s Roadhouse

Nashville, Tennessee, United States

Logan’s Roadhouse is a casual dining steakhouse headquartered in Nashville, TN. Offering mesquite wood-fire grilled steaks, signature yeast rolls and American-inspired signature favorites for over 25 years, Logan’s has 204 corporate and franchise restaurants in 22 states.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2008-05-12 Saunders & Associates

Phoenix, Arizona, United States

Saunders & Associates is a global manufacturer of test, measurement, and production equipment supplying the global frequency control device manufacturing industry. Saunders & Associates was founded in 1967 and is based in Phoenix, Arizona.

Buy -
Buyer

Industrial Growth Partners

San Francisco, California, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1997
PE ASSETS 3.4B USD
Size Large
Type Sector Focused
DESCRIPTION

Industrial Growth Partners (IGP) is a private equity firm that invests in privately held, lower middle-market manufacturing and manufacturing services companies. Specific areas of interest include industrial components and equipment, electrical and electronic equipment, process instrumentation and controls, analytical instruments and measuring devices, filtration and pumps, specialty chemicals, plastics, and healthcare/safety equipment. Prospective transaction situations include management buyouts, leveraged buyouts, corporate divestitures, recapitalizations, management buy-ins, and growth capital financings. Target companies typically are profitable and have annual revenues up to $250 million. IGP was formed in 1997 and is based in San Francisco, California.


Deal Context for Buyer #
Overall 12 of 46
Sector: Test/Measurement Equipment 2 of 4
Type: Recapitalization 2 of 2
State: Ohio 3 of 5
Country: United States 12 of 45
Year: 2007 2 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-04-17 Seaboard International

Houston, Texas, United States

Seaboard International, Inc. is a wellhead solutions provider that manufactures proprietary, highly engineered wellhead and pressure control equipment. Seaboard also offers related critical field service, equipment repair and frac tree rental.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-06-29 AmerCable

El Dorado, Arkansas, United States

AmerCable is a manufacturer of electrical power cables used in severe operating environments such as offshore drilling platforms and mines as well as specialized applications for automotive robotics and telecommunications. AmerCable was founded in 1899 and is based in El Dorado, Arkansas.

Sell $212M

Seller Profile 1

SELLER

Industrial Growth Partners

San Francisco, California, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1997
PE ASSETS 3.4B USD
Size Large
Type Sector Focused
DESCRIPTION

Industrial Growth Partners (IGP) is a private equity firm that invests in privately held, lower middle-market manufacturing and manufacturing services companies. Specific areas of interest include industrial components and equipment, electrical and electronic equipment, process instrumentation and controls, analytical instruments and measuring devices, filtration and pumps, specialty chemicals, plastics, and healthcare/safety equipment. Prospective transaction situations include management buyouts, leveraged buyouts, corporate divestitures, recapitalizations, management buy-ins, and growth capital financings. Target companies typically are profitable and have annual revenues up to $250 million. IGP was formed in 1997 and is based in San Francisco, California.


Deal Context for Seller #
Overall 5 of 34
Sector: Test/Measurement Equipment 2 of 4
Type: Recapitalization 1 of 1
State: Ohio 1 of 4
Country: United States 5 of 33
Year: 2007 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-04-17 Seaboard International

Houston, Texas, United States

Seaboard International, Inc. is a wellhead solutions provider that manufactures proprietary, highly engineered wellhead and pressure control equipment. Seaboard also offers related critical field service, equipment repair and frac tree rental.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-06-29 AmerCable

El Dorado, Arkansas, United States

AmerCable is a manufacturer of electrical power cables used in severe operating environments such as offshore drilling platforms and mines as well as specialized applications for automotive robotics and telecommunications. AmerCable was founded in 1899 and is based in El Dorado, Arkansas.

Sell $212M