M&A Deal Summary

Crossplane Capital Acquires TransAxle

On January 7, 2020, private equity firm Crossplane Capital acquired automotive company TransAxle from Graham Partners and Golub Capital

Acquisition Highlights
  • This is Crossplane Capital’s 1st transaction in the Automotive sector.
  • This is Crossplane Capital’s 2nd transaction in the United States.
  • This is Crossplane Capital’s 1st transaction in New Jersey.

M&A Deal Summary
Date 2020-01-07
Target TransAxle
Sector Automotive
Buyer(s) Crossplane Capital
Sellers(s) Graham Partners
Golub Capital
Deal Type Secondary Buyout

Target

TransAxle

Cinnaminson, New Jersey, United States
TransAxle is a remanufacturer of drivetrain related components (transmissions, differentials, hydraulic pumps, and motors) and is an authorized distribution partner of ArvinMeritor, Eaton, Dana, Bendix, and over 100 other OE product lines. Transaxle was founded in 1979 and is based in Cinnaminson, New Jersey.

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Buyer(S) 1

Buyer

Crossplane Capital

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2018
Size Small
Type Sector Agnostic
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 2 of 9
Sector (Automotive) 1 of 1
Type (Secondary Buyout) 1 of 2
State (New Jersey) 1 of 1
Country (United States) 2 of 9
Year (2020) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-09-19 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.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-12-01 Empower Rental Group

Franklin, Tennessee, United States

ERG is a local equipment rental company. ERG maintains a broad offering of high-quality construction rental equipment for customers in commercial and industrial end markets. ERG was founded in 2020 and is based in Franklin, Tennessee.

Buy -

Seller(S) 2

SELLER

Graham Partners

Newtown Square, Pennsylvania, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1988
PE ASSETS 5.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Graham Partners is a private equity that targets middle market industrial and manufacturing companies. The Firm seeks to invest in businesses based in the US and also consider investments in Canada and Western Europe. Graham Partners focuses on strong growth potential companies with high return on invested capital, led by experienced management teams in revenues between $30 - $500 million and EBITDA between $10 million and $50 million. The firm typically invests between $10 million and $100 million in equity and the balance via debt and can invest higher than $100 million through co-investments. Broad areas of interest include building products, water management, medical products, consumer products, packaged food & beverage, packaging, aerospace/defense, agriculture, capital equipment, energy related products, home and outdoor, sports and leisure, and transportation services. Prospective transaction types include MBOs, recapitalization and growth capital financing. Graham Partners is an affiliate of The Graham Group was formed in 1988 and is based in Newton Square, Pennsylvania.

DEAL STATS #
Overall 27 of 37
Sector (Automotive) 2 of 2
Type (Secondary Buyout) 12 of 15
State (New Jersey) 2 of 2
Country (United States) 25 of 34
Year (2020) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-11-13 Damping Technologies

Mishawaka, Indiana, United States

Damping Technologies is an advanced material science company focused on engineered aerospace vibration and noise control applications primarily serving the aerospace, defense, and space end markets. Damping Technologies was founded in 1989 and is based in Mishawaka, Indiana.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-09-25 BrightPet

Lisbon, Ohio, United States

BrightPet manufactures premium and super-premium pet foods and international markets. BrightPet's top-of-the-line ingredient options and state-of-the-art American manufacturing operations ensure the quality of every recipe we produce. BrightPet was founded in 2016 and is based in Lisbon, Ohio.

Sell -
SELLER

Golub Capital

New York, New York, United States

Investor Investor Investor Investor Investor

Category Lender
Founded 1994
PE ASSETS 55.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Golub Capital is a private investment firm focused on making debt and equity investments in US based middle-market companies. Golub looks to invest between $5 and $75 million in businesses with established operating cash flow, strong customer relationships, and 'sustainable proprietary positions in their markets'. Prospective investment structures include refinancings, recapitalizations, buyouts, and growth financings. Sectors of interest include consumer products, business and consumer services, defense, manufacturing, value-added distribution, media, healthcare services and restaurants. Golub Capital was formed in 1994 and maintains offices in New York City, Atlanta, and Chicago.

DEAL STATS #
Overall 19 of 41
Sector (Automotive) 1 of 1
Type (Secondary Buyout) 10 of 19
State (New Jersey) 2 of 2
Country (United States) 19 of 39
Year (2020) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-11-19 Calero Software

Rochester, New York, United States

Calero Software is a provider of communications lifecycle management (CLM) solutions designed to turn communication data into actionable insight by simplifying the management of voice, mobile and other unified communications services and assets. Calero Software is based in Rochester, New York.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-01-17 Groundworks

Virginia Beach, Virginia, United States

Groundworks is a vertically integrated foundation services company that serves primarily the single-family residential market, providing a critical suite of services to homeowners that preserve home value, integrity, and safety, including foundation repair, basement waterproofing, crawl space repair and encapsulation, and concrete lifting. Groundworks is based in Virginia Beach, Virginia.

Buy -
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