Buyout (LBO, MBO, MBI) • Electronics

Cyprium Partners, Monroe Capital and South Franklin Street Partners Acquire MC Assembly

On February 21, 2007, mezzanine finance firm Cyprium Partners, lender Monroe Capital and private equity firm South Franklin Street Partners acquired electronics company MC Assembly

Acquisition Context
  • This is Cyprium Partners’ 2nd, Monroe Capital’s 1st and South Franklin Street Partners’ 1st transaction in the Electronics sector.
  • This is Cyprium Partners’ 20th, Monroe Capital’s 14th and South Franklin Street Partners’ 1st transaction in the United States.
  • This is Cyprium Partners’ 1st, Monroe Capital’s 1st and South Franklin Street Partners’ 1st transaction in Florida.
Investment Fate
  • MC Assembly was sold to a strategic buyer in 2018 for 65M USD.

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M&A Deal Summary

Date February 21, 2007
Target MC Assembly
Sector Electronics
Buyer(s) Cyprium Partners
Monroe Capital
South Franklin Street Partners
Deal Type Buyout (LBO, MBO, MBI)

Target Company

MC Assembly

Palm Bay, Florida, United States
MC Assembly is a provider of electronic manufacturing services to the medical, gaming, industrial, computer and telecommunications industries. Based in Melbourne, FL, MC’s primary focus is low to medium volume, medium-high mix printed circuit board assembly, with an emphasis on high material content printed circuit boards. MC Assembly was founded in 1984 and is based in Palm Bay, Florida.
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Buyers Overview 3

Buyer

Cyprium Partners

Cleveland, Ohio, United States

Investor Investor Investor Investor Investor


Category Mezzanine Finance Firm
Founded 1998
PE ASSETS 1.8B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Cyprium Partners is a private investment firm that provides mezzanine and equity capital to profitable, middle-market companies. The Firm will consider both non-control and control positions in businesses with revenue of $50 to $300 million and at least $8 million of EBITDA. Sectors of interest include traditional industries such as manufacturing, distribution, and services. Cyprium avoids investments in financial services, real estate, energy, commodities, natural resources, restaurants, long-term care and healthcare companies. Cyprium was formerly known as Key Principal Partners. The Firm has offices in Cleveland, Ohio and New York City.


Deal Context for Buyer #
Overall 22 of 54
Sector: Electronics 2 of 2
Type: Buyout (LBO, MBO, MBI) 13 of 25
State: Florida 1 of 2
Country: United States 20 of 51
Year: 2007 2 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-01-12 Imperial Dade

Jersey City, New Jersey, United States

Imperial Dade is an independent distributor of consumable paper and plastic packaging and supplies sold primarily to the restaurant and retail industries in the New York Tri-State area. Imperial Dade sells foodservice products, healthcare supplies, bags and liners, chemicals, janitorial goods, and safety supplies. Imperial Dade was founded in 1932 and is based in Jersey City, New Jersey.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-02-22 KBS

Oceanside, California, United States

KBS is a provider of integrated facilities management services, including outsourced janitorial cleaning and other services, to some of the largest retail and grocery customers in the United States. KBS was founded in 1967 and is based in Oceanside, California.

Buy -
Buyer

Monroe Capital

Chicago, Illinois, United States

Investor Investor Investor Investor Investor


Category Lender
Founded 2004
PE ASSETS 14.1B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Monroe Capital is a provider of senior and junior debt and equity co-investments to middle-market companies in the US and Canada. Investment types include unitranche financings, cash flow and enterprise value based loans, asset based loans, acquisition facilities, mezzanine debt, second lien or last-out loans and equity co-investments. Monroe Capital is a generalist investor and will consider companies in the healthcare, technology, media, retail, consumer sectors. Monroe Capital was formed in 2004 and is based in Chicago, Illinois.


Deal Context for Buyer #
Overall 14 of 135
Sector: Electronics 1 of 2
Type: Buyout (LBO, MBO, MBI) 6 of 39
State: Florida 1 of 6
Country: United States 14 of 134
Year: 2007 1 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2006-11-01 AmeriCast Technologies

Atchison, Kansas, United States

AmeriCast Technologies is a designer, manufacturer and supplier of high-engineered steel and iron castings and machined components for customers such as Caterpillar, General Electric and Electro-Motive.

Sell $110M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-03-26 Speed Commerce

Las Vegas, Nevada, United States

Speed Commerce is a single-source provider of omnichannel customer experience solutions and technology for ecommerce retailers and manufacturers. Speed Commerce was founded in 1982 and is based in Las Vegas, Nevada.

Buy -
DESCRIPTION


Deal Context for Buyer #
Overall 1 of 3
Sector: Electronics 1 of 1
Type: Buyout (LBO, MBO, MBI) 1 of 2
State: Florida 1 of 1
Country: United States 1 of 3
Year: 2007 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2008-03-04 Swiss-Tech

Delavan, Wisconsin, United States

Swiss-Tech is a niche manufacturer of low-volume, highly engineered, small, precision-machined parts for the aerospace, medical, fluid power, and industrial markets. Swiss-Tech was founded in 1965 and is based in Delavan, Wisconsin.

Buy -