M&A Deal Summary

Dominus Capital and Northstar Capital Acquire Consolidated Equipment Group

On August 16, 2021, private equity firm Dominus Capital and mezzanine finance firm Northstar Capital acquired machinery company Consolidated Equipment Group from Hanover Partners and Northstar Capital

Acquisition Highlights
  • This is Dominus Capital’s 1st and Northstar Capital’s 8th transaction in the Machinery sector.
  • This is Dominus Capital’s 13th and Northstar Capital’s 97th transaction in the United States.
  • This is Dominus Capital’s 1st and Northstar Capital’s 10th transaction in Minnesota.

M&A Deal Summary

Date 2021-08-16
Target Consolidated Equipment Group
Sector Machinery
Buyer(s) Dominus Capital
Northstar Capital
Sellers(s) Hanover Partners
Northstar Capital
Deal Type Secondary Buyout

Target

Consolidated Equipment Group

Alexandria, Minnesota, United States
Consolidated Equipment Group is a designer, manufacturer, and marketer of attachments for skid-steers, mini skid steers, compact tractors, and several other light-construction power equipment. Consolidated Equipment Group was founded in 1948 and is based in Alexandria, Minnessota.

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Buyer(S) 2

Buyer

Dominus Capital

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2008
PE ASSETS 410M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Dominus Capital is a private equity firm that targets middle market companies throughout North America. The Firm focuses on companies with defensible market positions, strong free cash flows and margins, untapped growth potential, and 'exceptional' management. Dominus seeks companies generating EBITDA of at least $10 million. Areas of interest include building products, business services, consumer products and services, distribution, food production and services, light manufacturing, restaurants, specialty chemicals and specialty retail. Dominus will consider a variety of transactions types, including buyouts and recapitalizations. Dominus Capital was formed in 2008 and is based in New York City.


DEAL STATS #
Overall 13 of 16
Sector (Machinery) 1 of 1
Type (Secondary Buyout) 5 of 6
State (Minnesota) 1 of 1
Country (United States) 13 of 16
Year (2021) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-09-09 Lockmasters

Nicholasville, Kentucky, United States

Lockmasters is a provider of proprietary products, educational training and distribution of third-party combination locks and hardware to the government and security professional industry. Lockmasters was founded in 1955 and is based in Nicholasville, Kentucky.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-10-19 BluSky Restoration

Centennial, Colorado, United States

BluSky Restoration is a provider of commercial, industrial, governmental, and multi-family restoration, renovation, environmental, and roofing services with an emphasis on commercial, large losses, and emergency restoration services across the continental United States. BluSky Restoration was founded in 2004 and is based in Centennial, Colorado.

Sell -
Buyer

Northstar Capital

Minneapolis, Minnesota, United States

Investor Investor Investor Investor Investor


Category Mezzanine Finance Firm
Founded 1993
PE ASSETS 1.7B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Northstar Capital is a mezzanine finance firm that provides junior capital to middle-market companies operating in the value-added distribution, light manufacturing, business services, financial services, education, and specialty healthcare sectors. Northstar's typical investment size is $5 to $30 million in businesses generating sales of $20 to $300 million with an EBITDA of at least $3 million. Prospective companies have stable cash flows and sustainable margins. Investments typically have maturities of five to eight years. Northstar does not invest in start-ups, real estate development, natural resource exploration, or high technology companies. Northstar Capital was formed in 1993 and is based in Minneapolis, Minnesota.


DEAL STATS #
Overall 102 of 109
Sector (Machinery) 8 of 9
Type (Secondary Buyout) 19 of 19
State (Minnesota) 10 of 11
Country (United States) 97 of 104
Year (2021) 4 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-07-15 Barcode

Bentonville, Arkansas, United States

Barcode optimizes growth for forward-thinking CPG companies in Walmart and Sam’s Club through complete account management and an unmatched suite of services and expertise. The company allows its clients to appreciate a hands-off and thriving Walmart business, which empowers them to redirect their efforts and expand in other retailers. Barcode was formed in 2006 and is based in Bentonville, Arkansas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-09-20 Drake Waterfowl Systems

Olive Branch, Mississippi, United States

Drake Waterfowl Systems is a provider of hunting gear, hunting boots, hunting waders, and hunting clothes made especially for duck hunters by duck hunters. Drake Waterfowl Systems was founded in 2002 and is based in Olive Branch, Mississippi.

Buy -

Seller(S) 2

SELLER

Hanover Partners

San Francisco, California, United States

Investor Investor Investor Investor


Category Private Equity Firm
Founded 1994
Size Small
Type Sector Agnostic
DESCRIPTION

Hanover Partners is a private investment firm that targets middle-market companies with enterprise value between $10 and $60 million and EBIT of at least $2 million. Hanover prefers manufacturing or service based businesses located in the United States that serve business customers. Avoided industries include retail, construction, consulting, job-shops, and distributors not adding specific value. Hanover Partners was formed in 1994 and is based in San Francisco, California with an additional office in Oswego, Oregon.


DEAL STATS #
Overall 11 of 13
Sector (Machinery) 5 of 7
Type (Secondary Buyout) 3 of 4
State (Minnesota) 2 of 2
Country (United States) 11 of 13
Year (2021) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-01-05 Ska Fabricating

Durango, Colorado, United States

Ska Fabricating is a provider of mission-critical packaging machinery equipment. Ska Fab has provided over 1,000 businesses with depalletizers and other specialized packaging line equipment in all 50 states, 7 provinces, and 23 countries. Ska Fabricating is based in Durango, Colorado.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-12-01 Powertronix

Foster City, California, United States

Powertronix is a developer of power product solutions serving critical applications in the medical, renewable energy, electrical utility, and other diversified industrial sectors. Powertronix was founded in 1991 and is based in Foster City, California.

Buy -
SELLER

Northstar Capital

Minneapolis, Minnesota, United States

Investor Investor Investor Investor Investor


Category Mezzanine Finance Firm
Founded 1993
PE ASSETS 1.7B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Northstar Capital is a mezzanine finance firm that provides junior capital to middle-market companies operating in the value-added distribution, light manufacturing, business services, financial services, education, and specialty healthcare sectors. Northstar's typical investment size is $5 to $30 million in businesses generating sales of $20 to $300 million with an EBITDA of at least $3 million. Prospective companies have stable cash flows and sustainable margins. Investments typically have maturities of five to eight years. Northstar does not invest in start-ups, real estate development, natural resource exploration, or high technology companies. Northstar Capital was formed in 1993 and is based in Minneapolis, Minnesota.


DEAL STATS #
Overall 62 of 80
Sector (Machinery) 4 of 5
Type (Secondary Buyout) 23 of 26
State (Minnesota) 7 of 8
Country (United States) 60 of 76
Year (2021) 7 of 11
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-07-15 Barcode

Bentonville, Arkansas, United States

Barcode optimizes growth for forward-thinking CPG companies in Walmart and Sam’s Club through complete account management and an unmatched suite of services and expertise. The company allows its clients to appreciate a hands-off and thriving Walmart business, which empowers them to redirect their efforts and expand in other retailers. Barcode was formed in 2006 and is based in Bentonville, Arkansas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-09-20 Drake Waterfowl Systems

Olive Branch, Mississippi, United States

Drake Waterfowl Systems is a provider of hunting gear, hunting boots, hunting waders, and hunting clothes made especially for duck hunters by duck hunters. Drake Waterfowl Systems was founded in 2002 and is based in Olive Branch, Mississippi.

Buy -