M&A Deal Summary

ENPRO Services Acquires AMI

On December 28, 2023, ENPRO Services acquired machinery company AMI from Beverly Capital and McNally Capital for 210M USD

Acquisition Highlights
  • This is ENPRO Services’ 1st transaction in the Machinery sector.
  • This is ENPRO Services’ largest (disclosed) transaction.
  • This is ENPRO Services’ 1st transaction in the United States.
  • This is ENPRO Services’ 1st transaction in California.

M&A Deal Summary

Date 2023-12-28
Target AMI
Sector Machinery
Buyer(s) ENPRO Services
Sellers(s) Beverly Capital
McNally Capital
Deal Type Add-on Acquisition
Deal Value 210M USD

Target

AMI

Costa Mesa, California, United States
AMI designs and manufactures oxygen analyzers and sensors, primarily serving the natural gas sector. AMI was founded in 1995 and is based in Costa Mesa, California.

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Buyer(S) 1

Buyer

ENPRO Services

Salisbury, Massachusetts, United States

Category Company
Founded 1983
Sector Environmental
DESCRIPTION

ENPRO Services, Inc. is a provider of full line of environmental, emergency response, and industrial services.


DEAL STATS #
Overall 1 of 1
Sector (Machinery) 1 of 1
Type (Add-on Acquisition) 1 of 1
State (California) 1 of 1
Country (United States) 1 of 1
Year (2023) 1 of 1
Size (of disclosed) 1 of 1

Seller(S) 2

SELLER

Beverly Capital

Evanston, Illinois, United States

Category Private Equity Firm
Founded 2010
Size Small
Type Sector Focused
DESCRIPTION

Beverly Capital LLC is a private investment firm that provides equity and mezzanine financing to lower middle market companies. Beverly targets profitable companies with $2 to $8 million of EBITDA. Areas of interest includes healthcare and outsourced business services. Prospective transaction situations include recapitalizations, minority growth investments, and strategic acquisitions. Beverly Capital LLC is based in Highland Park, Illinois.


DEAL STATS #
Overall 10 of 10
Sector (Machinery) 3 of 3
Type (Add-on Acquisition) 3 of 3
State (California) 2 of 2
Country (United States) 9 of 9
Year (2023) 2 of 2
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-05-04 American Prosthetic Components

Green Bay, Wisconsin, United States

American Prosthetic Components is a manufacturer of titanium prosthetic components sold to O&P facilities, OEMs, and distributors throughout the world. American Prosthetic Components was founded in 2002 and based in Green Bay, Wisconsin.

Sell -
DESCRIPTION

McNally Capital is a family office that partners with other family offices to acquire and invest in lower middle-market business services and manufacturing companies. The Firm targets control or minority investments in US-based companies with $5 to $15 of EBITDA. Specific areas of interest include industrials, food/beverages, aerospace/defense, healthcare, energy, and packaging. McNally Capital was established in 2007 and is based in Chicago, Illinois.


DEAL STATS #
Overall 3 of 4
Sector (Machinery) 1 of 1
Type (Add-on Acquisition) 2 of 2
State (California) 1 of 1
Country (United States) 3 of 4
Year (2023) 1 of 1
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-01-12 Xcelerate Solutions

McLean, Virginia, United States

Xcelerate Solutions is a defense and national security company, providing integrated solutions delivered through three service areas. Xcelerate Solutions manages risk from individuals to systems, create innovative solutions that deliver results, and accelerate time to value. Across three service areas Enterprise Security, Strategic Consulting, and Digital Transformation Xcelerate Solutions enhance the security and resilience of America’s personnel, physical, and cyber infrastructure. Xcelerate Solutions is based in McLean, Virginia.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-01-17 Re-Sourcing

Valhalla, New York, United States

Re-Sourcing is a provider of strategic staffing, consulting, and direct hire solutions, focusing on Compliance, Legal, Information Technology, Finance & Accounting, and HR positions. Re-Sourcing was founded in 2003 and is based in Valhalla, New York.

Sell -