M&A Deal Summary

CW Industrial Partners and PNC Mezzanine Capital Acquire Mantaline

On March 12, 2024, private equity firm CW Industrial Partners and mezzanine finance firm PNC Mezzanine Capital acquired automotive company Mantaline

Acquisition Highlights
  • This is CW Industrial Partners’ 2nd and PNC Mezzanine Capital’s 3rd transaction in the Automotive sector.
  • This is CW Industrial Partners’ 25th and PNC Mezzanine Capital’s 73rd transaction in the United States.
  • This is CW Industrial Partners’ 12th and PNC Mezzanine Capital’s 7th transaction in Ohio.

M&A Deal Summary

Date 2024-03-12
Target Mantaline
Sector Automotive
Buyer(s) CW Industrial Partners
PNC Mezzanine Capital
Deal Type Buyout (LBO, MBO, MBI)

Target

Mantaline

Mantua, Ohio, United States
Mantaline is a manufacturer of customized, extruded elastomeric profiles for the automotive, heavy truck, and industrial markets. Mantaline was formed in 1964 and is based in Mantua, Ohio.

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Buyer(S) 2

Buyer

CW Industrial Partners

Cleveland, Ohio, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1999
PE ASSETS 500M USD
Size Middle-Market
Type Sector Focused
DESCRIPTION

CW Industrial Partners is an industrial-focused private equity firm that is backed by knowledgeable investors who partner with it in finding, vetting, and owning companies. CW Industrial Partners acquires lower middle-market companies in manufacturing and industrial services industries and provides capital, support, and freedom to grow. CW Industrial Partners was founded in 1999 and is based in Cleveland, Ohio.


DEAL STATS #
Overall 27 of 27
Sector (Automotive) 2 of 2
Type (Buyout (LBO, MBO, MBI)) 11 of 11
State (Ohio) 12 of 12
Country (United States) 25 of 25
Year (2024) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-07-28 Ripley Tools

Cromwell, Connecticut, United States

Ripley Tools is a designer and manufacturer of a wide variety of cable preparation tools. These specialty hand tools are sold to electrical utility, electrical contractor, CATV, telephone and telecommunication markets under the Utility Tool, Cablematic, Miller and Clauss tool brand names. Ripley Tools was founded in 1936 and is based in Cromwell, Connecticut.

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Buyer

PNC Mezzanine Capital

Pittsburgh, Pennsylvania, United States

Investor Investor Investor Investor Investor


Category Mezzanine Finance Firm
Founded 1989
PE ASSETS 1.5B USD
Size Large
Type Sector Agnostic
DESCRIPTION

PNC Mezzanine Capital is the subordinated debt investing arm of PNC Bank. PNC Mezzanine looks to provide $10 to $50 million of junior capital to middle-market companies in a variety of industries. Prospective companies generally have revenues of $20 million and EBITDA greater than $4 million. Broad sectors of interest include niche manufacturing, value-added distribution, and business or consumer services. PNC will not invest in early-stage or technology-driven businesses; real estate, commodity-based or capital-intensive companies; businesses with high customer or vendor concentration; or declining businesses. PNC Mezzanine was formed in 1989 and is based in Pittsburgh, Pennsylvania.


DEAL STATS #
Overall 77 of 77
Sector (Automotive) 3 of 3
Type (Buyout (LBO, MBO, MBI)) 38 of 38
State (Ohio) 7 of 7
Country (United States) 73 of 73
Year (2024) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-02-08 Trexon

Macedonia, Ohio, United States

Trexon is a designer and specialty distributor of high performance, ruggedized wire, cable, connectors, and assembled products. TPC's highly engineered products transmit power and signal in critical applications such as robotic manufacturing systems and temporary power for auto plants, mines, factories, and other harsh industrial environments. Trexon was founded in 1979 and is based in Macedonia, Ohio.

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