Buyout (LBO, MBO, MBI) • Machinery

Connell Limited Partnership Acquires Dayton Progress

On April 3, 2008, private equity firm Connell Limited Partnership acquired machinery company Dayton Progress

Acquisition Context

This is Connell Limited Partnership’s 1st transaction in the Machinery sector.
This is Connell Limited Partnership’s 3rd transaction in the United States.
This is Connell Limited Partnership’s 1st transaction in Ohio.

Investment Fate

Dayton Progress was sold to a strategic buyer in 2012.

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M&A Deal Summary
Date	April 3, 2008
Target	Dayton Progress
Sector	Machinery
Buyer(s)	Connell Limited Partnership
Deal Type	Buyout (LBO, MBO, MBI)

Target Company

Dayton Progress

Dayton, Ohio, United States

Dayton Progress Corporation is the global industry leader in the production of punches, pilots, dies, retainers and other metal stamping and forming tools serving the automotive, housing, appliance and ammunition industries. Through its subsidiary PCS Company, it is also a North American leader in the sale of mold bases, components and hot runner systems for plastic injection molds. Dayton has approximately 800 employees located in the U.S., Canada, Mexico, Japan, Taiwan, Portugal, France, Germany, Poland, the Czech Republic and the United Kingdom.

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Buyer Overview 1

Buyer

Connell Limited Partnership

Boston, Massachusetts, United States

Category	Private Equity Firm
Founded	1987
Size	Small
Type	Sector Agnostic

DESCRIPTION

Connell Limited Partnership is a private acquisition group that targets companies in the industrial manufacturing sector. Connell has a particular interest in businesses engaged in the metallurgy and manufacturing of metal products. Connell was formed in 1987 and is based in Boston, Massachusetts.

Deal Context for Buyer	#
Overall	5 of 8
Sector: Machinery	1 of 2
Type: Buyout (LBO, MBO, MBI)	3 of 6
State: Ohio	1 of 2
Country: United States	3 of 5
Year: 2008	3 of 3

PREVIOUS DEAL

DATE	TARGET	DEAL TYPE	VALUE
2008-04-03	PCS Company Fraser, Michigan, United States PCS Company is a leading North American supplier of mold bases, components, and hot runner systems to the plastics and metal die cast industries. PCS has three sales and manufacturing facilities in the United States. The primary markets of PCS include mold makers, plastic injection molders, and die casters serving the automotive, appliance, electronics, consumer and medical industries.	Buy	-

DATE

TARGET

DEAL TYPE

VALUE

2008-04-03

PCS Company

Fraser, Michigan, United States

PCS Company is a leading North American supplier of mold bases, components, and hot runner systems to the plastics and metal die cast industries. PCS has three sales and manufacturing facilities in the United States. The primary markets of PCS include mold makers, plastic injection molders, and die casters serving the automotive, appliance, electronics, consumer and medical industries.

Buy

FOLLOWING DEAL

DATE	TARGET	DEAL TYPE	VALUE
2009-11-03	Yuba Heat Transfer Tulsa, Oklahoma, United States Yuba Heat Transfer LLC focused on providing advanced engineering design, quality fabrication, and turnkey field services. Yuba Heat Transfer is based in Tulsa, Oklahoma.	Sell	-

DATE

TARGET

DEAL TYPE

VALUE

2009-11-03

Yuba Heat Transfer

Tulsa, Oklahoma, United States

Yuba Heat Transfer LLC focused on providing advanced engineering design, quality fabrication, and turnkey field services. Yuba Heat Transfer is based in Tulsa, Oklahoma.

Sell

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