M&A Deal Summary

Corinthian Capital Group and Cerberus Capital Management Acquire Control Solutions

On December 1, 2008, private equity firm Corinthian Capital Group and asset manager Cerberus Capital Management acquired electronics company Control Solutions

Acquisition Highlights
  • This is Corinthian Capital Group’s 1st and Cerberus Capital Management’s 1st transaction in the Electronics sector.
  • This is Corinthian Capital Group’s 6th and Cerberus Capital Management’s 19th transaction in the United States.
  • This is Corinthian Capital Group’s 1st and Cerberus Capital Management’s 1st transaction in Illinois.

M&A Deal Summary

Date 2008-12-01
Target Control Solutions
Sector Electronics
Buyer(s) Corinthian Capital Group
Cerberus Capital Management
Deal Type Buyout (LBO, MBO, MBI)

Target

Control Solutions

Aurora, Illinois, United States
Control Solutions is is a provider of microprocessor-based motion control products for a variety of applications in the commercial, medical and military markets. Control Solutions was founded in 1989 and is based in Aurora, Illinois.

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Buyer(S) 2

Buyer

Corinthian Capital Group

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2005
Size Small
Type Sector Agnostic
DESCRIPTION

Corinthian Capital Group is a private equity firm that targets middle market-company investments located in North America. Corinthian prefers investments in consumer product, niche manufacturing, distribution, and service companies with revenues between $50 and $300 million with an EBITDA of $5 - $30 million. Corinthian typically targets opportunities brought on by generational turnover, shareholder liquidity, or corporate restructuring. Corinthian Capital was formed in 2005 and is based in New York City with additional office in Boston.


DEAL STATS #
Overall 6 of 21
Sector (Electronics) 1 of 1
Type (Buyout (LBO, MBO, MBI)) 5 of 11
State (Illinois) 1 of 2
Country (United States) 6 of 21
Year (2008) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2008-10-01 Precision Motor Transport Group

Okemos, Michigan, United States

Precision Motor Transport Group LLC (PMTG) is an automobile carrier focused exclusively on transporting premier luxury brand vehicles through its owned fleet of custom enclosed truck-trailer combinations. Precision Motor Transport Group was founded in 1992 and is based in Okemos, Michigan.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2009-12-01 Beta International

Houston, Texas, United States

Beta International, Inc. is a supplier of fl ow control products to the energy, transmission, and infrastructure industries. Beta International was founded in 1976 and is based in Houston, Texas.

Buy -
Buyer

Cerberus Capital Management

New York, New York, United States

Investor Investor Investor Investor Investor


Category Asset Manager
Founded 1992
PE ASSETS 55.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Cerberus Capital Management is a private investment firm that targets a wide range of global investments. Cerberus primarily looks for undervalued or distressed situations. Industry sectors of interest include aerospace and defense, apparel, automotive and industrial, building products, commercial services, consumer and retail, financial services, healthcare, manufacturing and distribution, paper, packaging, and printing, real estate, technology, telecommunications, transportation, and travel. In addition to private equity investing, Cerberus also provides corporate credit and acquires real estate. Cerberus was formed in 1992 by Steve Feinberg and is based in New York City.


DEAL STATS #
Overall 28 of 88
Sector (Electronics) 1 of 1
Type (Buyout (LBO, MBO, MBI)) 10 of 26
State (Illinois) 1 of 1
Country (United States) 19 of 64
Year (2008) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2008-11-19 Handel und Kredit KG

Frankfurt, Germany

Handel und Kredit GmbH & Co. KG is a full German banking license according to Bafin requirements (§32 (1) of the banking act) and operates two branches in Altena and Hagen, which offer a full banking service to retail and small corporate clients.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2009-04-30 Chrysler Group

Auburn Hills, Michigan, United States

Chrysler Group LLC is an American automobile manufacturer headquartered in Auburn Hills, Michigan. It is a wholly owned subsidiary of the Italian multinational Fiat S.p.A.

Sell -