M&A Deal Summary

Clover Environmental Solutions Acquires LMI Solutions

On October 17, 2019, Clover Environmental Solutions acquired chemicals company LMI Solutions from Turnspire Capital Partners

Acquisition Highlights
  • This is Clover Environmental Solutions’ 1st transaction in the Chemicals sector.
  • This is Clover Environmental Solutions’ 2nd transaction in the United States.
  • This is Clover Environmental Solutions’ 1st transaction in Arizona.

M&A Deal Summary
Date 2019-10-17
Target LMI Solutions
Sector Chemicals
Buyer(s) Clover Environmental Solutions
Sellers(s) Turnspire Capital Partners
Deal Type Add-on Acquisition

Target

LMI Solutions

Phoenix, Arizona, United States
LMI Solutions is a manufacturer and distributor of toner cartridges. The Company offers print cartridges, fusers, drums, maintenance kits, color toners, universal cartridges, refurbished printers, packaging, and labeling products. LMI Solutions was established in 1992 and is based in Phoenix, Arizona.

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Buyer(S) 1

Buyer

Clover Environmental Solutions

Hoffman Estates, Illinois, United States
Category Company
Founded 1996
Sector Environmental
Employees5,000
DESCRIPTION

Clover Environmental Solutions provides environmentally sustainable solutions focused on the recovery, returns management, remanufacturing, and recommerce of business and consumer goods. By leveraging its world-class engineering, manufacturing, and distribution infrastructure, Clover Environmental Solutions provides circular economy solutions for various products, making the company a product lifecycle management provider of choice for OEMs and retailers globally. Clover Environmental Solutions was established in 1996 and is based in Hoffman Estates, Illinois.

DEAL STATS #
Overall 2 of 4
Sector (Chemicals) 1 of 1
Type (Add-on Acquisition) 2 of 4
State (Arizona) 1 of 1
Country (United States) 2 of 4
Year (2019) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-08-13 American Communications

Santa Barbara, California, United States

American Communications is a supplier of new, surplus and used telecommunications hardware, supporting carriers, service providers, enterprise clients, end users, and resellers around the world. Company provide turnkey solutions for data, wireless, wireline, and cable networks, including buying and selling equipment, equipment test and repair, assembly and integration, de-installations, asset recovery, and technology migration solutions.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-07-21 Phoenix Direct

Duluth, Georgia, United States

Phoenix Direct offers direct-to-consumer brands end-to-end solutions including: a full suite of eCommerce fulfillment services; marketing, eCommerce, catalog, and web services; a 24/7 customer service call center; and complete warehouse and distribution services. Phoenix Direct was formed in 2012 and is based in Duluth, Georgia.

Buy -

Seller(S) 1

SELLER

Turnspire Capital Partners

Investor Investor Investor

Category Private Equity Firm
Founded 2013
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Turnspire Capital Partners is a private investment firm focused on acquiring North American companies that have reached 'strategic, operational, or financial inflection points' with their business and could benefit from a hands-on investor. Turnspire will consider a variety of transaction situations, including special situations, corporate carve-outs, and family transitions. Sectors of interest include aerospace/defense, automotive, machinery, chemicals, consumer, building materials, food/beverages, logistics, metals, packaging, and plastics. Prospective companies generally have revenues of $50 to $400 million. Turnspire Capital Partners was formed in 2013 and is based in New York City.

DEAL STATS #
Overall 1 of 4
Sector (Chemicals) 1 of 1
Type (Add-on Acquisition) 1 of 3
State (Arizona) 1 of 1
Country (United States) 1 of 4
Year (2019) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-01-03 Crane Carrier

New Philadelphia, Ohio, United States

Crane Carrier is a provider in the vocational truck industry, providing custom, severe-service chassis, and purpose-built vehicles for the refuse and recycling, infrastructure maintenance, ground support, agriculture, and oil and gas markets under the Crane Carrier Company and Crane Carrier Company Engineered Chassis brands. Crane Carrier was founded in 1953 and is based in New Philadelphia, Ohio.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-01-16 MPI Products

Rochester Hills, Michigan, United States

MPI Products is a manufacturer of high-precision, fine blanked metal components for powertrain systems, hydraulic systems and other safety-critical automotive and industrial applications. MPI Products was founded in 1969 and is based in Rochester Hills, Michigan.

Buy -
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