M&A Deal Summary

EBSCO Capital Acquires All Current

On February 17, 2015, corporate investor EBSCO Capital acquired distribution company All Current from High Road Capital Partners and Barings Private Equity

Acquisition Highlights
  • This is EBSCO Capital’s 1st transaction in the Distribution sector.
  • This is EBSCO Capital’s 3rd transaction in the United States.
  • This is EBSCO Capital’s 1st transaction in New Jersey.

M&A Deal Summary

Date 2015-02-17
Target All Current
Sector Distribution
Buyer(s) EBSCO Capital
Sellers(s) High Road Capital Partners
Barings Private Equity
Deal Type Secondary Buyout
Advisor(s) Piper Jaffray Companies (Financial)

Target

All Current

Moorestown, New Jersey, United States
All Current is a reseller of electrical parts and components used in heavy-duty industrial, infrastructure, and energy applications, including conduit fittings, circuit breakers, motor control systems, and wiring devices. All Current was formed in 1981 and is based in Moorestown, New Jersey.

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Buyer(S) 1

Buyer

EBSCO Capital

Investor Investor Investor


Category Corporate Investor
Founded 2014
PE ASSETS 300M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

EBSCO Capital is the private equity investment arm of privately held conglomerate EBSCO Industries. EBSCO Capital looks to make control investments in North American companies operating in traditional industries. Sectors of interest for platform investments include business services, manufacturing, distribution, and consumer products. Target companies are generally profitable ($8 to $25 million of EBITDA) and possess strong management, proven track records of success, low capital expenditures, and diverse customers. EBSCO Capital was formed in2014 and is based in Birmingham, Alabama.


DEAL STATS #
Overall 3 of 7
Sector (Distribution) 1 of 2
Type (Secondary Buyout) 1 of 2
State (New Jersey) 1 of 1
Country (United States) 3 of 6
Year (2015) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-05-20 Valent Group

Birmingham, Alabama, United States

Valent Group provides risk consulting for employee benefits, businesses, and individuals. The group delivers a Fortune 1000 experience that is traditionally only reserved for the largest of companies, offering services that go beyond insurance placement including: HR, Compliance, Data Analytics, Wellness Programming, and Plan Design, as well as Claims Advocacy, Loss Control, Executive Risk & Succession, Cyber, Workers Comp, Facility Security and beyond. Valent Group was formed in 2001 and is based in Birmingham, Alabama.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-09-05 Bailey

Knoxville, Tennessee, United States

Bailey is a manufacturer and distributor of mobile fluid power components including hydraulic cylinders, power units, pumps, valves, motors, hoses and fittings, bearings, and bushings used primarily in mobile equipment applications. Since its founding, the company has evolved into a diversified, industry-leading manufacturer and distributor of highly engineered hydraulic cylinders and related products. Bailey was formed in 1976 and is headquartered in Knoxville, Tennessee.

Buy -

Seller(S) 2

SELLER

High Road Capital Partners

Greenwich, Connecticut, United States

Investor Investor Investor


Category Private Equity Firm
Founded 2007
PE ASSETS 470M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

High Road Capital Partners LLC is a private equity firm focused on acquiring smaller middle-market companies in partnership with management. High Road looks to invest in companies with revenues of $10 to $100 million with an EBITDA of $3 to $ 10 million. Broad areas of interest include manufacturing, service, and value-added distribution businesses. Target transaction situations include buyouts and recapitalization. High Road will consider both control and non-control investments. High Road Capital Partners was formed in 2007 and is based in New York City.


DEAL STATS #
Overall 4 of 13
Sector (Distribution) 1 of 3
Type (Secondary Buyout) 1 of 4
State (New Jersey) 1 of 3
Country (United States) 3 of 12
Year (2015) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-12-19 Handi Quilter

North Salt Lake, Utah, United States

Handi Quilter develops and manufactures branded and OEM quilting machines, frames, tables, computerized quilting systems, and quilting accessories. The company's products are primarily used in the home by dedicated quilting enthusiasts as well as by quilters with home-based businesses. Handi Quilter was founded in 1998 and is based in North Salt Lake, Utah.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-03-09 York Wallcoverings

York, Pennsylvania, United States

York Wallcoverings is a manufacturer of residential and commercial wallpaper, as well as peel-and-stick removable and reusable wall decals. York Wallcoverings was founded in 1895 and is based in York, Pennsylvania.

Buy -
SELLER

Barings Private Equity

Investor Investor


Category Private Equity Firm
Founded 1991
PE ASSETS 5.7B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Barings Private Equity is the private equity arm of global asset management firm Barings. The Group looks to invest in mezzanine, distressed, and other private equity transactions including secondaries and funds. Sectors of interest include manufacturing, business services, distribution, consumer products, consumer services, food products, packaging, and healthcare. Barings Private Equity was originally established in 1991 and is based in Charlotte, North Carolina.


DEAL STATS #
Overall 11 of 37
Sector (Distribution) 1 of 2
Type (Secondary Buyout) 3 of 10
State (New Jersey) 2 of 5
Country (United States) 11 of 33
Year (2015) 2 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-01-26 Money Mailer

Cypress, California, United States

Money Mailer LLC is a provider of shared one-to-one direct mail advertising (annually producing over 163 million mailings delivered to approximately 17 million homes) as well as interactive and online advertising solutions through its nationwide production and distribution network. Money Mailer was founded in 1979 and is based in Cypress, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-03-09 York Wallcoverings

York, Pennsylvania, United States

York Wallcoverings is a manufacturer of residential and commercial wallpaper, as well as peel-and-stick removable and reusable wall decals. York Wallcoverings was founded in 1895 and is based in York, Pennsylvania.

Buy -