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Buyout (LBO, MBO, MBI) • Machinery

Dogwood Equity Acquires Ajax Rolled Ring & Machine

On October 28, 2005, Dogwood Equity acquired machinery company Ajax Rolled Ring & Machine for 6M USD

Acquisition Context
  • This is Dogwood Equity’s 1st transaction in the Machinery sector.
  • This is Dogwood Equity’s largest (disclosed) transaction.
  • This is Dogwood Equity’s 4th transaction in the United States.
  • This is Dogwood Equity’s 2nd transaction in South Carolina.
Investment Fate
  • Ajax Rolled Ring & Machine was sold to a consortium of financial buyers in 2008.
  • Ajax Rolled Ring & Machine was sold to a strategic buyer in 2014.

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M&A Deal Summary
Date October 28, 2005
Target Ajax Rolled Ring & Machine
Sector Machinery
Buyer(s) Dogwood Equity
Deal Type Buyout (LBO, MBO, MBI)
Deal Value 6M USD
Advisor(s) ICG Capital Securities (Financial)

Target Company

Ajax Rolled Ring & Machine

York, South Carolina, United States
Ajax Rolled Ring & Machine is a manufacturer of seamless rolled rings. Ajax provides heat treating, machining, and shot blasting of the forged rings. The rings are consumed in various global end markets, including mining, construction, oil and gas, and power generation. Ajax Rolled Ring & Machine was founded in 1956 and is based in York, South Carolina.
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Buyer Overview 1

Buyer

Dogwood Equity

Raleigh, North Carolina, United States
Category Private Equity Firm
Founded 2002
PE ASSETS 74M USD
Size Small
Type Sector Agnostic
DESCRIPTION

Dogwood Equity is a private equity fund focused on control buyouts and select non-control investments in private companies located in the Southeast US. The firm will consider investments in a broad range of industries, including manufacturing, distribution, service, and consumer products. Prospective companies generally have revenue of $10 to $75 million and EBITDA of $3 to $10 million. Dogwood's target investment size is $4 to $10 million. Dogwood Equity was formed in 2002 and is based in Raleigh, North Carolina, with an additional office in Charlotte.

Deal Context for Buyer #
Overall 4 of 8
Sector: Machinery 1 of 1
Type: Buyout (LBO, MBO, MBI) 1 of 2
State: South Carolina 2 of 2
Country: United States 4 of 8
Year: 2005 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2003-12-01 Compact Power Equipment Centers

Fort Mill, South Carolina, United States

Compact Power Equipment Centers is a manufacturer and wholesale distributor of compact utility equipment used in a broad spectrum of industries including landscape contracting, telecommunications, general construction, irrigation, and utilities. Compact Power Equipment Centers LLC was established in 2008 and is headquartered in Fort Mill, South Carolina.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2006-01-01 Total Billings

Charlotte, North Carolina, United States

Total Billings, Inc. a provider of billing, payment, archival and tracking software and services to utilities, government agencies and large commercial enterprises.

Sell -

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