M&A Deal Summary

Crossplane Capital Acquires Hynes Industries

On December 11, 2023, private equity firm Crossplane Capital acquired manufacturer Hynes Industries from Resilience Capital Partners

Acquisition Highlights
  • This is Crossplane Capital’s 1st transaction in the Manufacturing sector.
  • This is Crossplane Capital’s 9th transaction in the United States.
  • This is Crossplane Capital’s 1st transaction in Ohio.

M&A Deal Summary

Date 2023-12-11
Target Hynes Industries
Sector Manufacturing
Buyer(s) Crossplane Capital
Sellers(s) Resilience Capital Partners
Deal Type Secondary Buyout

Target

Hynes Industries

Youngstown, Ohio, United States
Hynes Industries is a manufacturer of custom and standard rolled formed shapes, slit coil and strip steel products, specialty wire, and flat wire shapes. Hynes was established in 1925 and is based in Youngstown, Ohio.

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Buyer(S) 1

DESCRIPTION

Crossplane Capital is a private equity firm focused on acquiring family-owned or other complex situations in the industrial sector. The Firm prefers control equity investments in businesses generating $40 to $200 million of revenue and valued up to $120 million. In addition to family-owned companies, Crossplane will consider restructurings, carve-outs, and bankruptcies. The Firm's geographic coverage includes the US and Canada. Crossplane Capital was established in 2018 and is based in Dallas, Texas.


DEAL STATS #
Overall 9 of 9
Sector (Manufacturing) 1 of 1
Type (Secondary Buyout) 2 of 2
State (Ohio) 1 of 1
Country (United States) 9 of 9
Year (2023) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-08-07 Accent Family of Companies

Tomball, Texas, United States

Accent Family of Companies is a full service, value-added industrial distribution company focused on the waste/recycling and building materials industries. Through its Wire-Tie division, Accent’s core offerings include baling wire distribution, bale tie manufacturing, wire-tier equipment manufacturing, and wire-tier parts and repair services to waste management providers, material recovery facilities, packaging companies, and commercial customers throughout the United States, Canada, and the United Kingdom. Through its Building Materials division, Accent is a regional distributor of roofing, concrete, drywall, and acoustical products to the construction industry under the Striker and NATCO brands throughout the west, southwest, and gulf coast the United States. Accent Family of Companies was founded in 1986 and is based in Tomball, Texas.

Sell -

Seller(S) 1

SELLER

Resilience Capital Partners

Cleveland, Ohio, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2001
PE ASSETS 675M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Resilience Capital Partners is a private equity firm focused on investing in lower middle-market underperforming and turnaround situations. Resilience targets non-core divisions or subsidiaries, companies with severe operational issues, businesses suffering from insufficient management focus, and privately held companies with lack of access to capital. Sectors of interest include niche manufacturing, specialty chemicals, and industrial services. Prospective companies are generally located in North America with $25 to $250 million in revenue, and EBITDA typically under $20 million. Resilience Capital Partners was formed in 2001 and is located in Cleveland, Ohio.


DEAL STATS #
Overall 19 of 19
Sector (Manufacturing) 2 of 2
Type (Secondary Buyout) 6 of 6
State (Ohio) 6 of 6
Country (United States) 19 of 19
Year (2023) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-03-16 CR Brands

West Chester, Ohio, United States

CR Brands is a manufacturer, marketer, and sells branded laundry products (Biz and Oxydol) and heavy-duty household cleaning products under the nationally branded names Mean Green, Magnum Power, and Pine Power. CR Brands was established in 2000 and is based in West Chester, Ohio.

Sell -