Acquisition Financing • Manufacturing

Convergent Capital Partners Invests In Law Enforcement Targets

On July 1, 2006, growth capital firm Convergent Capital Partners invested in manufacturer Law Enforcement Targets

Investment Context
  • This is Convergent Capital Partners’ 4th transaction in the Manufacturing sector.
  • This is Convergent Capital Partners’ 23rd transaction in the United States.
  • This is Convergent Capital Partners’ 8th transaction in Minnesota.
Investment Fate
  • Law Enforcement Targets was recapitalized in 2009.
  • Law Enforcement Targets was sold to a strategic buyer in 2011.

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Investment Summary

Date July 1, 2006
Target Law Enforcement Targets
Sector Manufacturing
Investor(s) Convergent Capital Partners
Deal Type Acquisition Financing

Target Company

Law Enforcement Targets

Minneapolis, Minnesota, United States
Law Enforcement Targets, Inc. headquartered in Minneapolis, MN, designs and distributes all types of shooting targets constructed of paper, cardboard, plastic, steel and rubber.
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Investor Overview 1

Investor
DESCRIPTION

Convergent Capital is a private investment firm that provides growth and debenture financing to late-stage growth companies. Convergent prefers to commit $3 to $12 million per transaction in businesses with at least $10 million in revenues. Convergent is a generalist investor and will consider businesses in a wide range of industries. Investment funds are typically used to assist growth, but the firm can also structure investments around buyouts, recapitalizations, consolidations, and add-on acquisitions. Convergent is licensed as a SBIC. Convergent Capital was formed in 1999 and is based in Minneapolis, Minnesota.


Deal Context for Investor #
Overall 23 of 62
Sector: Manufacturing 4 of 6
Type: Acquisition Financing 3 of 4
State: Minnesota 8 of 12
Country: United States 23 of 62
Year: 2006 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2006-05-01 Hearthstone Assisted Living

Houston, Texas, United States

Hearthstone Assisted Living, Inc., headquartered in Houston, TX, is a growing operator of assisted living communities for older adults.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2006-08-01 Quality Rail Services

Golden, Colorado, United States

Quality Rail Services enables North American railroads to increase productivity and profitability by delivering industry leading fueling, mechanical and support services.

Buy -