M&A Deal Summary

Delos Capital, The Silverfern Group, Ironwood Capital and Genesis Park Acquire Le Sueur

On January 5, 2023, private equity firm Delos Capital, asset manager The Silverfern Group, growth capital firm Ironwood Capital and private equity firm Genesis Park acquired metals/mining company Le Sueur

Acquisition Highlights
  • This is Delos Capital’s 2nd, The Silverfern Group’s 1st, Ironwood Capital’s 2nd and Genesis Park’s 1st transaction in the Metals/Mining sector.
  • This is Delos Capital’s 11th, The Silverfern Group’s 14th, Ironwood Capital’s 89th and Genesis Park’s 21st transaction in the United States.
  • This is Delos Capital’s 1st, The Silverfern Group’s 1st, Ironwood Capital’s 2nd and Genesis Park’s 1st transaction in Minnesota.

M&A Deal Summary

Date 2023-01-05
Target Le Sueur
Sector Metals/Mining
Buyer(s) Delos Capital
The Silverfern Group
Ironwood Capital
Genesis Park
Deal Type Buyout (LBO, MBO, MBI)

Target

Le Sueur

Le Sueur, Minnesota, United States
Le Sueur is a supplier of complex precision aluminum castings and plastic injection molded components. Le Sueur is based in Le Sueur, Minnesota.

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Buyer(S) 4

DESCRIPTION

Delos Capital LLC is a private equity firm that partners with strong management teams and strategic owners to invest in lower middle market companies. Delos Capital LLC was founded in 2013 and is based in New York, New York.


DEAL STATS #
Overall 12 of 12
Sector (Metals/Mining) 2 of 2
Type (Buyout (LBO, MBO, MBI)) 6 of 6
State (Minnesota) 1 of 1
Country (United States) 11 of 11
Year (2023) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-07-21 FCA Packaging

Moline, Illinois, United States

FCA Packaging is a provider of custom industrial packaging that includes wood, steel, corrugated and hybrid products, as well as expendable, reusable, and returnable solutions. FCA Packaging was founded in 1985 and is based in Moline, Illinois.

Sell -
DESCRIPTION

The Silverfern Group is an asset management firm focused on investing in private equity, real estate, and private debt transactions on behalf of institutional investors and single family offices. The Firm will consider opportunities across North/South America, Europe, and Asia. Within its private equity practice, Silverfern makes direct, co-control middle-market private equity investments requiring $25 to $150 million of equity per transaction. Sectors of interest include energy, financial services, food, hospitality, IT, power equipment rental, renewable energy, telecom, transportation, and waste management. The Silverfern Group was established in 2001 and is headquartered in New York City.


DEAL STATS #
Overall 20 of 20
Sector (Metals/Mining) 1 of 1
Type (Buyout (LBO, MBO, MBI)) 9 of 9
State (Minnesota) 1 of 1
Country (United States) 14 of 14
Year (2023) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-11-17 Broad River Energy

Gaffney, South Carolina, United States

Broad River Energy is an 850 MW dual-fuel, simple-cycle power generation facility located in Gaffney, South Carolina that is fully committed to Duke Energy Progress under two long-term tolling agreements. Broad River utilizes 5 GE 7FA.03 gas turbine generators for the generation of electrical power. The units can be on the grid and supplying power within 15 minutes to help serve peak and emergency loads.

Sell -
Buyer

Ironwood Capital

Avon, Connecticut, United States

Investor Investor Investor Investor Investor


Category Growth Capital Firm
Founded 1986
PE ASSETS 1.0B USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Ironwood Capital is a private investment firm that makes equity and subordinated debt investments in lower middle-market companies. Investment proceeds are generally used to support leveraged buyouts, growth financings, and recapitalizations. Investments typically range from $10 to $40 million in companies generating $20 to $250 million in annual sales. Target sectors include healthcare products/services, value-added manufacturing, business services, consumer products, specialty distribution, and education. Ironwood prefers opportunities East of the Mississippi, but will selectively consider investments in the Western US. The Firm's investment horizon is three to five years. Ironwood Capital was formed in 2002 and is based in Avon, Connecticut.


DEAL STATS #
Overall 89 of 93
Sector (Metals/Mining) 2 of 2
Type (Buyout (LBO, MBO, MBI)) 27 of 28
State (Minnesota) 2 of 2
Country (United States) 89 of 93
Year (2023) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-09-28 Caldera Manufacturing Group

Reading, Pennsylvania, United States

Caldera Manufacturing Group is an ISO-Certified manufacturer that serves as a partner for customers seeking process engineering, precision machining, fabrication, powder coating, kitting and assembly services. Caldera Manufacturing Group was founded in 1992 and is based in Reading, Pennsylvania.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-06-15 Pharmaceutic Litho & Label

Simi Valley, California, United States

Pharmaceutic Litho & Label is a provider in the specialty printing industry exclusively serving the pharmaceutical, biotech, and medical device segments. Pharmaceutic Litho & Label was founded in 1964 and is based in Simi Valley, California.

Sell -
Buyer

Genesis Park

Houston, Texas, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1999
Size Small
Type Sector Agnostic
DESCRIPTION

Genesis Park is a private equity firm focused on lower middle-market opportunities. Transaction situations of interest include growth capital financings, carveouts, buyouts, special situations, and helping founder/family companies. The Firm has a preference for majority control, but will consider select minority investments. Prospective businesses are generally profitable ($2 to $20 million) with $5 to $100 million of revenue. Genesis Park was formed in 1999 and is headquartered in Houston, Texas.


DEAL STATS #
Overall 22 of 23
Sector (Metals/Mining) 1 of 1
Type (Buyout (LBO, MBO, MBI)) 9 of 10
State (Minnesota) 1 of 1
Country (United States) 21 of 22
Year (2023) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-11-29 One Source

Greenville, North Carolina, United States

One Source is managed service provider focusing on implementing and maintaining mission-critical connectivity, infrastructure and cyber security for mid to large enterprises with multilocation operations. One Source was founded in 1989 and is based in Greenville, North Carolina.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-04-18 Fastest Labs

San Antonio, Texas, United States

Fastest Labs is a provider of drug, alcohol, and DNA testing services, offering fast and accurate results for individuals, businesses, and government agencies. Fastest Labs was founded in 2008 and is based in San Antonio, Texas.

Buy -