M&A Deal Summary

Electrolux Group Acquires Grindmaster-Cecilware

On March 2, 2017, Electrolux Group acquired machinery company Grindmaster-Cecilware from First New England Capital, Balance Point Capital Partners, Peachtree Equity Partners, Triangle Capital and Alcentra Capital for 108M USD

Acquisition Highlights
  • This is Electrolux Group’s 4th transaction in the Machinery sector.
  • This is Electrolux Group’s 5th largest (disclosed) transaction.
  • This is Electrolux Group’s 5th transaction in the United States.
  • This is Electrolux Group’s 1st transaction in Kentucky.

M&A Deal Summary

Date 2017-03-02
Target Grindmaster-Cecilware
Sector Machinery
Buyer(s) Electrolux Group
Sellers(s) First New England Capital
Balance Point Capital Partners
Peachtree Equity Partners
Triangle Capital
Alcentra Capital
Deal Type Add-on Acquisition
Deal Value 108M USD

Target

Grindmaster-Cecilware

Louisville, Kentucky, United States
Grindmaster-Cecilware Corp. is a manufacturer of hot, cold and frozen beverage dispensing equipment including coffee machines.

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Buyer(S) 1

Buyer

Electrolux Group

Stockholm, Sweden

Category Company
Founded 1901
Sector Consumer Products
Employees45,000
Revenue 134.5B SEK (2023)
DESCRIPTION
Electrolux plant in St. Cloud, Minnesota.
Electrolux plant in St. Cloud, Minnesota.

Electrolux Group is a multinational household and professional appliances manufacturer. Electrolux Group was founded in 1901 and is based in Stockholm, Sweden.


DEAL STATS #
Overall 14 of 18
Sector (Machinery) 4 of 5
Type (Add-on Acquisition) 11 of 14
State (Kentucky) 1 of 1
Country (United States) 5 of 6
Year (2017) 2 of 3
Size (of disclosed) 5 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-02-06 Anova Applied Electronics

San Francisco, California, United States

Anova Culinary, Inc. is a designer, developer and distributor of mobile application integrated sous vide device for kitchen appliances.

Buy $115M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-07-07 Best Range Hood

Hartford, Wisconsin, United States

Broan Range Hood LLC is a manufacturer of innovative and well-designed kitchen hoods. Best Range Hood was founded in 1932 and is based in Hartford, Wisconsin.

Buy -

Seller(S) 5

SELLER

First New England Capital

West Hartford, Connecticut, United States

Category Private Equity Firm
Founded 1988
PE ASSETS 50M USD
Size Small
Type Sector Agnostic
DESCRIPTION

First New England Capital is a private investment firm that provides equity and mezzanine capital to later-stage, small and middle-market companies operating in the Northeast US. First New England typically invests $2 to $5 million in companies generating $10 to $150 million in annual revenue. First New England can act as the lead investor or participate alongside others. The Firm will consider opportunities across many different sectors. First New England Capital was formed in 1988 and is based in Hartford, Connecticut.


DEAL STATS #
Overall 4 of 7
Sector (Machinery) 1 of 1
Type (Add-on Acquisition) 2 of 3
State (Kentucky) 2 of 2
Country (United States) 4 of 7
Year (2017) 1 of 2
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-10-27 Stonewall Kitchen

York, Maine, United States

Stonewall Kitchen is a specialty food and home goods producer selling jams and jellies at local farmers' markets with a flavorful line of distinctive and high-quality products. Stonewall expanded the brand to include sauces, condiments, crackers, and baking mixes, always focusing on innovative product development, beautiful packaging, and exceptional guest service. Stonewall Kitchen was founded in 1991 and is based in York, Maine.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-12-01 Claris Vision

Warwick, Rhode Island, United States

Koch Eye Associates, Inc. is a provider of eye care and surgical practices, with twenty doctors treating patients at eight office locations, three laser vision centers, and a surgery center. Koch Eye Associates was founded in 1981 and is based in Warwick, Rhode Island.

Sell -
SELLER

Balance Point Capital Partners

Westport, Connecticut, United States

Investor Investor Investor Investor Investor


Category Mezzanine Finance Firm
Founded 2007
PE ASSETS 1.7B USD
Size Small
Type Sector Agnostic
DESCRIPTION

Balance Point Capital Advisors is a provider of equity and debt capital to middle-market US-based companies. The Firm looks to invest $5 to $30 million in companies generating $10 $150 million in revenue. The Firm invest in the range of $15 to $75 million with and enterprise value of $10 to $150 million. Funds are used to support a variety of needs, including private equity sponsored buyouts, strategic acquisitions, refinancing's, management buyouts, leveraged recapitalizations, and growth capital financing needs. Balance Point Capital is based in Westport, Connecticut.


DEAL STATS #
Overall 4 of 16
Sector (Machinery) 1 of 1
Type (Add-on Acquisition) 4 of 9
State (Kentucky) 1 of 1
Country (United States) 4 of 16
Year (2017) 1 of 1
Size (of disclosed) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-12-12 HALO Innovations

Minnetonka, Minnesota, United States

HALO Innovations, Inc. is a developer and marketer of consumer products that provide a healthy and safe sleep environment.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-01-01 OnRamp Access

Austin, Texas, United States

OnRamp Access is a provider of Internet operations support and data center services in the Central Texas market. OnRamp Access was founded in 1994 and is based in Austin, Texas.

Sell -
SELLER

Peachtree Equity Partners

Atlanta, Georgia, United States

Investor Investor Investor Investor


Category Private Equity Firm
Founded 2002
PE ASSETS 170M USD
Size Small
Type Sector Agnostic
DESCRIPTION

Peachtree Equity Partners is a Southeast US based private equity firm that provides non-control equity capital to smaller middle market companies. Peachtree allows business owners to retain control of their companies while accessing capital for growth, acquisitions, or shareholder liquidity. Peachtree's target investment size is $3 to $10 million. Sectors of interest include business services, financial services, government contracting, and specialized manufacturing. Peachtree was formed in 2002 and is based in Atlanta, Georgia.


DEAL STATS #
Overall 12 of 13
Sector (Machinery) 1 of 1
Type (Add-on Acquisition) 6 of 6
State (Kentucky) 1 of 1
Country (United States) 11 of 12
Year (2017) 1 of 1
Size (of disclosed) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-01-30 Aptar CSP Technologies

Auburn, Alabama, United States

Aptar CSP Technologies, Inc. is a provider of custom polymeric solutions and specialty protective packaging. Using patented Activ-Polymer advanced desiccant polymer technology, CSP Technologies manufactures innovative protection solutions that enhance the stability, shelf life and convenience of our customers' products. Aptar CSP Technologies was founded in 1928 and is based in Auburn, Alabama.

Sell $360M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-09-06 Emtec

Jacksonville, Florida, United States

Emtec provides information technology (IT) services and products to the federal, state, and local government, education, and commercial markets. It helps clients identify and prioritize areas for improvement and then implement the process, technology, and business application improvements that reduce costs, improve service and align the delivery of IT with the needs of their organizations. Emtec was founded in 1964 and is based in Jacksonville, Florida.

Sell -
SELLER

Triangle Capital

Raleigh, North Carolina, United States

Category Private Equity Firm
Founded 2007
Size Middle-Market
Type Sector Agnostic
DESCRIPTION


DEAL STATS #
Overall 44 of 71
Sector (Machinery) 2 of 2
Type (Add-on Acquisition) 21 of 33
State (Kentucky) 2 of 2
Country (United States) 44 of 70
Year (2017) 2 of 7
Size (of disclosed) 6 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-02-21 AGM Automotive

Troy, Michigan, United States

AGM Automotive, Inc. is a provider of automotive interior trim, lighting, and electrical components to automotive and related industries.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-04-24 Flowchem

Waller, Texas, United States

Flowchem is a global provider of drag-reducing agents, related support services and equipment to midstream crude oil and refined fuel pipeline operators. Drag reducing agents, also known as DRAs, are specialty chemicals injected into midstream pipelines to reduce friction near the pipeline walls and within the turbulent fluid flowing through the pipeline network. Flowchem was founded in 2001 and is based in Waller, Texas.

Sell $495M
SELLER

Alcentra Capital

New York, New York, United States

Investor Investor Investor Investor Investor


Category Mezzanine Finance Firm
Founded 1998
PE ASSETS 540M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Alcentra Capital Corporation is the direct investment arm of asset management firm Alcentra. Alcentra capital looks to provide equity and subordinated debt to middle-market companies throughout North America. The Firm looks to invest $5 to $15 million per transaction in profitable companies with $5 to $15 million of EBITDA. Sectors of interest include healthcare, government services, business services, and defense. Alcentra Capital Corporation was formerly known as BNY Mellon-Alcentra Mezzanine Partners. The Group was originally established in 1998 and is based in New York City.


DEAL STATS #
Overall 33 of 40
Sector (Machinery) 1 of 1
Type (Add-on Acquisition) 14 of 19
State (Kentucky) 1 of 1
Country (United States) 32 of 38
Year (2017) 1 of 2
Size (of disclosed) 12 of 12
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-11-03 Lugano Diamonds & Jewelry

Newport Beach, California, United States

Lugano Diamonds & Jewelry is an international jewelry firm provides jewelry art in addition to being a leading jeweler to the ultra-high net worth clients. Each design is a signature creation by Lugano Diamonds, featuring artistic, one-of-a-kind settings. Lugano Diamonds & Jewelry was established in 1974 and is based in Newport Beach, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-07-19 My Alarm Center

Newtown Square, Pennsylvania, United States

My Alarm Center is a security company, provides resources to independent alarm companies, as well as advanced security services and home automation to households and businesses. My Alarm Center was founded in 2000 and is based in Newtown Square, Pennsylvania.

Buy -