M&A Deal Summary

Edgewater Capital Partners and Greyrock Capital Group Acquire NeoGraf Solutions

On January 31, 2023, private equity firm Edgewater Capital Partners and mezzanine finance firm Greyrock Capital Group acquired manufacturer NeoGraf Solutions from Aterian Investment Partners

Acquisition Highlights
  • This is Edgewater Capital Partners’ 5th and Greyrock Capital Group’s 6th transaction in the Manufacturing sector.
  • This is Edgewater Capital Partners’ 28th and Greyrock Capital Group’s 60th transaction in the United States.
  • This is Edgewater Capital Partners’ 6th and Greyrock Capital Group’s 6th transaction in Ohio.

M&A Deal Summary

Date 2023-01-31
Target NeoGraf Solutions
Sector Manufacturing
Buyer(s) Edgewater Capital Partners
Greyrock Capital Group
Sellers(s) Aterian Investment Partners
Deal Type Secondary Buyout
Advisor(s) BDA Partners (Financial)

Target

NeoGraf Solutions

Lakewood, Ohio, United States
NeoGraf Solutions is a developer and manufacturer of high-quality flexible natural and synthetic graphite, powders, and flakes used in thermal management, fire resistance, and other applications. NeoGraf provides mission-critical products that are used for heat dissipation, heat spreading, or utilized as a fire retardant additive to materials due to thinness, flexibility, low weight, and high conductivity characteristics. NeoGraf Solutions was founded in 1881 and is based in Lakewood, Ohio.

Search 201,429 Deals Now

SEARCH BY

  • Buyer Type (PE or Strategic)
  • Deal Size ($10M to $10B+)
  • Sector (60 Sectors)
  • Deal Type
  • Geography
  • & More

Try For Free 7-Day Free Trial

Buyer(S) 2

Buyer

Edgewater Capital Partners

Cleveland, Ohio, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1982
Size Middle-Market
Type Sector Focused
DESCRIPTION

Edgewater Capital Partners is a private equity firm focused on acquiring established, lower middle-market companies. Prospective investment situations include corporate divestitures, management buyouts, and family business liquidity. The Firm's industry preferences include highly-engineered manufacturing, specialty chemicals, specialty Industrials, Life Science. Edgewater Capital Partners was formed in 1982 and is based in Cleveland, Ohio.


DEAL STATS #
Overall 29 of 30
Sector (Manufacturing) 5 of 5
Type (Secondary Buyout) 2 of 2
State (Ohio) 6 of 6
Country (United States) 28 of 29
Year (2023) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-11-01 Altamira Material Solutions

Houston, Texas, United States

Altamira Material Solutions specializes in the custom production of PTFE molding, paste extrusion, plastics machining, and fabrication. Altamira Material Solutions is based in Houston, Texas.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-01-18 Ascent

Chicago, Illinois, United States

Ascent is a provider of compliance automation solutions, leveraging artificial intelligence to streamline regulatory processes for financial services firms. It is dedicated to empowering organizations to more effectively navigate the complex landscape of regulatory compliance to reduce risk, streamline operations, and manage costs. Ascent is based in Chicago, Illinois.

Buy -
Buyer

Greyrock Capital Group

Walnut Creek, California, United States

Investor Investor Investor Investor Investor


Category Mezzanine Finance Firm
Founded 2002
PE ASSETS 350M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Greyrock Capital Group provides mezzanine debt and equity capital to finance buyouts, recapitalizations and growth needs of middle market companies. Greyrock looks to invest between $8 and $40 million of equity and/or junior capital in companies with minimum revenues of $10 million and at least $2 million of EBITDA. Greyrock prefers companies in defensible markets with low cost structures. Greyrock Capital was formed in 2002 and has offices in San Francisco, California; Chicago, Illinois; and Westport, Connecticut.


DEAL STATS #
Overall 61 of 61
Sector (Manufacturing) 6 of 6
Type (Secondary Buyout) 12 of 12
State (Ohio) 6 of 6
Country (United States) 60 of 60
Year (2023) 1 of 1
PREVIOUS 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 -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-01-09 Westside Equipment

Madera, California, United States

Westside Equipment is a manufacturer of tomato and pistachio harvesting equipment and related parts. Westside Equipment started manufacturing machinery for the tomato harvesting industry in 2001 and has grown from a small operation with four employees to a global leader in the commercial tomato harvester equipment industry. Westside Equipment was founded in 1986 and is based in Madera, California.

Sell -

Seller(S) 1

SELLER

Aterian Investment Partners

New York, New York, United States

Investor Investor


Category Private Equity Firm
Founded 2009
PE ASSETS 400M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Aterian Investment Partners is a special situations private equity firm that invests in middle-market businesses that are financially or operationally challenged, or require a creative transaction solution. Aterian invests in businesses generating $25 to $500 million of revenue with strong franchises. Sectors of interest include manufacturing, chemicals, industrials, consumer products, food, beverages, distribution, metals/mining, retail, restaurants, and healthcare services. Aterian Investment Partners LLC is formed in 2009 and is based in New York City.


DEAL STATS #
Overall 4 of 5
Sector (Manufacturing) 3 of 4
Type (Secondary Buyout) 1 of 2
State (Ohio) 1 of 1
Country (United States) 4 of 5
Year (2023) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-07-13 Stein Fibers

Albany, New York, United States

Stein Fibers is a supplier and producer of Polyester Fiberfill and Nonwoven Fibers in North America. The Company has the most extensive in-stock product offerings in the marketplace with unsurpassed responsiveness and customer service. Stein Fibers is based in Albany, New York.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-01-22 Stewart Tubular Products

Houston, Texas, United States

Stewart Tubular Products is a manufacturer, distributor, and threader of down-hole tubing and casing accessories. Stewart Tubular Products was founded in 1988 and is based in Houston, Texas.

Sell -