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M&A Deal Summary

Eureka Equity Partners Acquires C/G Electrodes

On May 1, 2003, private equity firm Eureka Equity Partners acquired electrical equipment company C/G Electrodes

Acquisition Highlights
  • This is Eureka Equity Partners’ 1st transaction in the Electrical Equipment sector.
  • This is Eureka Equity Partners’ 6th transaction in the United States.
  • This is Eureka Equity Partners’ 4th transaction in Pennsylvania.
Investment Fate
  • C/G Electrodes was recapitalized in 2005 for 8M USD.
  • C/G Electrodes was sold to a publicly-traded strategic buyer in 2010.

M&A Deal Summary
Date 2003-05-01
Target C/G Electrodes
Sector Electrical Equipment
Buyer(s) Eureka Equity Partners
Deal Type Special Situations/Distressed

Target

C/G Electrodes

Saint Marys, Pennsylvania, United States
C/G Electrodes is a leading manufacturer of consumable graphite electrodes used in the electric arc furnaces of steel mini-mills. These electrodes allow production temperatures to reach 5000 degrees Fahrenheit, believed to be the highest operating temperature in any industrial manufacturing process in the world. Cyprium Partners’ investment facilitated the buyout of minority shareholders of C/G.

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Buyer(S) 1

Buyer

Eureka Equity Partners

Philadelphia, Pennsylvania, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2004
Size Small
Type Sector Agnostic
DESCRIPTION

Eureka Equity Partners is a private equity firm focused on partnering with management in acquiring middle-market companies generating sales up to $100 million. The Firm will consider both control and non-control investments. Sectors of interest include communications, consumer products and services, healthcare, and transportation. Eureka invests in the range of $10 to $25 million per transaction. Eureka's geographic coverage is within the US with a preference for opportunities located in the Eastern and Mid-Atlantic US. Eureka was formed in 2004 and is based in Philadelphia, Pennsylvania.

DEAL STATS #
Overall 6 of 30
Sector: Electrical Equipment M&A 1 of 1
Type: Special Situations/Distressed M&A Deals 1 of 1
State: Pennsylvania M&A 4 of 7
Country: United States M&A 6 of 30
Year: 2003 M&A 2 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2003-04-16 Nailite International

Miami,, Florida, United States

Nailite International Inc. ('Nailite'), a niche manufacturer of molded polypropylene siding ('MPS') for the remodeling and new construction housing markets. Founded in 1978, Nailite International Inc. was the first company in the siding business to develop an injection molded siding product that replicates the appearance of the traditional siding materials of natural cedar, brick and stone, thereby offering homeowners the low cost and minimal maintenance benefits of artificial siding without having to sacrifice aesthetics.

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FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2003-07-01 Maxima Technologies & Systems

Lancaster, Pennsylvania, United States

Maxima Technologies & Systems LLC is a full-service, manufacturing company specializing in electronic controls, vehicle instrumentation, components and related accessories for off-highway equipment, specialty vehicles, industrial and on-highway vehicles, as well as the automotive aftermarket. Maxima markets its products under four distinct brands: AST, Datcon, Stewart Warner and Stewart Warner Performance.

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