M&A Deal Summary

Fedrigoni Acquires GPA Specialty Substrate Solutions

On April 24, 2015, Fedrigoni acquired distribution company GPA Specialty Substrate Solutions from Svoboda Capital Partners, Ellipse Capital and Northstar Capital

Acquisition Highlights
  • This is Fedrigoni’s 1st transaction in the Distribution sector.
  • This is Fedrigoni’s 1st transaction in the United States.
  • This is Fedrigoni’s 1st transaction in Illinois.

M&A Deal Summary
Date 2015-04-24
Target GPA Specialty Substrate Solutions
Sector Distribution
Buyer(s) Fedrigoni
Sellers(s) Svoboda Capital Partners
Ellipse Capital
Northstar Capital
Deal Type Add-on Acquisition

Target

GPA Specialty Substrate Solutions

McCook, Illinois, United States
GPA is a marketer and value-added distributor of specialty printable substrates in North America. The company sells specialty labels, paper, substrates, and films and provides technical knowledge to the printing and graphic arts industry across the country.

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Buyer(S) 1

Buyer

Fedrigoni

Verona, Italy
Category Company
Founded 1888
Sector Forest Products
DESCRIPTION

Fedrigoni is a manufacturer and distributor of paper and paper related products. Fedrigoni was founded in 1888 and is based in Verona, Italy.

DEAL STATS #
Overall 1 of 7
Sector (Distribution) 1 of 1
Type (Add-on Acquisition) 1 of 6
State (Illinois) 1 of 1
Country (United States) 1 of 2
Year (2015) 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-05-28 Gruppo Cordenons

Milan, Italy

Gruppo Cordenons SpA is a manufacturer of high-end specialty papers for luxury packaging and premium publishing applications. Gruppo Cordenons produces high-end specialty graphic papers, as well as industrial filtration paper, and distributes its products in more than 90 countries. Gruppo Cordenons SpA is based in Milan, Italy.

Buy -

Seller(S) 3

SELLER

Svoboda Capital Partners

Chicago, Illinois, United States

Investor Investor Investor

Category Private Equity Firm
Founded 1998
PE ASSETS 400M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Svoboda Capital Partners is a private equity firm that seeks buyout, recapitalization, and growth capital investments in mid-sized companies with leading market positions, strong customer relationships, and high margins. Svoboda generally looks to invest up to $25 million in businesses generating sales of $10 to $100 million and EBITDA of $3 to $15 million. Sectors of interest include value-added distribution, business services, and consumer products. Svoboda Capital Partners was formed in 1998 and is based in Chicago, Illinois.

DEAL STATS #
Overall 21 of 34
Sector (Distribution) 6 of 11
Type (Add-on Acquisition) 7 of 14
State (Illinois) 6 of 8
Country (United States) 21 of 34
Year (2015) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-03-01 Triad Technologies

Vandalia, Ohio, United States

Triad Technologies is a full-line distributor of fluid power, fluid connector, hydraulic, pneumatic, and seal products to a diverse customer base throughout Ohio, Kentucky and Michigan.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-10-08 Grabber Construction Products

Highland, Utah, United States

GRABBER Construction Products, Inc. is an international distributor and manufacturer of premium fasteners and fastening systems for wood, metal, and drywall applications in the commercial and residential construction markets. Grabber Construction Products was established in 1967 and is based in Highland, Utah.

Buy -
SELLER

Ellipse Capital

Chicago, Illinois, United States
Category Private Equity Firm
Founded 2008
Size Small
Type Sector Agnostic
DESCRIPTION

Ellipse Capital is a private investment group focused on partnering with management teams to acquire distribution businesses. Ellipse looks to identify companies where the Firm can work with management to expand geographic reach, product/service offerings, and customers. For new company investments, Ellipse seeks to invest $10 to $50 million for controlling positions in businesses valued up to $100 million. Ellipse Capital was formed in 2008 and is based in Chicago.

DEAL STATS #
Overall 6 of 8
Sector (Distribution) 5 of 6
Type (Add-on Acquisition) 1 of 1
State (Illinois) 1 of 1
Country (United States) 6 of 8
Year (2015) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-07-18 Ward Adhesives

Pewaukee, Wisconsin, United States

Ward Adhesives, Inc. is a distributor of specialty adhesives for the packaging, product assembly, and graphic arts markets. Ward Adhesives was founded in 1988 and is based in Pewaukee, Wisconsin.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-11-01 Monroe Engineering

Rochester Hills, Michigan, United States

Monroe Engineering is a distributor of a broad portfolio of custom and standard hardware and component products for original equipment manufacturers, as well as maintenance, repair and operations applications. Monroe Engineering serves customers across a wide range of end markets including aerospace, defense, medical, transportation, consumer goods, building products, and other diversified industrial markets. Monroe Engineering was established in 1968 and is headquartered in Rochester Hills, Michigan.

Sell -
SELLER

Northstar Capital

Minneapolis, Minnesota, United States

Investor Investor Investor Investor Investor

Category Mezzanine Finance Firm
Founded 1993
PE ASSETS 1.7B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Northstar Capital is a mezzanine finance firm that provides junior capital to middle-market companies operating in the value-added distribution, light manufacturing, business services, financial services, education, and specialty healthcare sectors. Northstar's typical investment size is $5 to $30 million in businesses generating sales of $20 to $300 million with an EBITDA of at least $3 million. Prospective companies have stable cash flows and sustainable margins. Investments typically have maturities of five to eight years. Northstar does not invest in start-ups, real estate development, natural resource exploration, or high technology companies. Northstar Capital was formed in 1993 and is based in Minneapolis, Minnesota.

DEAL STATS #
Overall 27 of 80
Sector (Distribution) 1 of 6
Type (Add-on Acquisition) 9 of 27
State (Illinois) 5 of 9
Country (United States) 26 of 76
Year (2015) 1 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-02-02 Thymes

Minneapolis, Minnesota, United States

Thymes is a designer and marketer of branded bath and body and home fragrance products. Thymes’ premium product line includes soaps, lotions, and other bath and body products, as well as home fragrance selections such as candles and diffusers. Thymes was founded in 1982 and is based in Minneapolis, Minnesota.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-05-13 A&D Environmental Services

High Point, North Carolina, United States

A&D Environmental Services, Inc. is a provider of environmental and industrial service industry providing a full range of industrial, remediation, waste management, transportation and emergency response services.

Sell -
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