M&A Deal Summary

FFL Partners and LNC Partners Acquire Milestone AV Technologies

On October 20, 2004, private equity firms FFL Partners and LNC Partners acquired electrical equipment company Milestone AV Technologies

Acquisition Highlights
  • This is FFL Partners’ 1st and LNC Partners’ 1st transaction in the Electrical Equipment sector.
  • This is FFL Partners’ 6th and LNC Partners’ 13th transaction in the United States.
  • This is FFL Partners’ 1st and LNC Partners’ 1st transaction in Minnesota.
Investment Fate
  • Milestone AV Technologies was sold to a consortium of financial buyers in 2008.
  • Milestone AV Technologies was sold to a consortium of financial buyers in 2013.
  • Milestone AV Technologies was sold to a publicly-traded strategic buyer in 2017.

M&A Deal Summary

Date 2004-10-20
Target Milestone AV Technologies
Sector Electrical Equipment
Buyer(s) FFL Partners
LNC Partners
Deal Type Consolidation

Target

Milestone AV Technologies

Savage, Minnesota, United States
Milestone AV Technologies is a designer, marketer and distributor of branded audio-visual mounting equipment and display solutions for flat panel displays, projectors, AV furniture, and speakers to both the consumer and the commercial markets. Our innovative products, sold principally under the Chief and Sanus brands, are sold through numerous channels, including Pro AV dealers, regional home theater dealers, consumer electronics retailers, mass merchants and original equipment manufacturers.

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Buyer(S) 2

Buyer

FFL Partners

San Francisco, California, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1997
PE ASSETS 6.0B USD
Size Mega
Type Sector Focused
DESCRIPTION

FFL Partners (formerly known as Friedman Fleischer & Lowe) is a private equity group focused on majority and minority investments in North American middle-market companies. Prospective businesses generally have revenues of $30 to $400 million and are valued between $50 and $300 million. Target situations include ownership restructurings in closely-held and family-owned companies, management buyouts, PIPEs, growth equity fundings, take privates, special situations, and recapitalizations. Sectors of interest include outsourced business services, education and training, marketing and media, consumer products, healthcare, and financial services. FFL Partners was formed in 1997 and is based in San Francisco, California.


DEAL STATS #
Overall 7 of 54
Sector: Electrical Equipment M&A 1 of 1
Type: Consolidation M&A Deals 1 of 1
State: Minnesota M&A 1 of 2
Country: United States M&A 6 of 50
Year: 2004 M&A 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2004-08-17 SteelPoint Technologies

Boston, Massachusetts, United States

SteelPoint is a rapidly growing information technology consulting firm that specializes in content management services and solutions, focused on the litigation support and compliance markets. The company's customers include Exxon, Fidelity Investments, John Hancock, Johnson & Johnson, and Shell Oil.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2005-01-01 Wilton Re Holdings

Norwalk, Connecticut, United States

Wilton Re Holdings Limited provides traditional life reinsurance and insurance Run Off Solutions through its wholly owned operating subsidiaries, Wilton Reassurance Company, Wilton Reinsurance Bermuda Limited, and Wilton Reassurance Life Company of New York.

Buy -
Buyer

LNC Partners

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2010
PE ASSETS 1.0B USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

LNC Partners is a private investment firm focused on providing $10 to $40 million of equity and junior capital to support a variety of company transactions. As a provider of debt, LNC offers subordinated debt and unitranche securities. As a provider of equity, LNC will invest as a minority or majority partner. Prospective transaction situations include buyouts, refinancings, acquisition financings, growth capital needs, and recapitalizations. Sectors of interest include business and information services, financial services, insurance, healthcare, and niche manufacturing. LNC Partners is based in Arlington, Virginia.


DEAL STATS #
Overall 13 of 44
Sector: Electrical Equipment M&A 1 of 1
Type: Consolidation M&A Deals 1 of 1
State: Minnesota M&A 1 of 2
Country: United States M&A 13 of 44
Year: 2004 M&A 5 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2004-09-01 Becker Underwood

Ames, Iowa, United States

Becker Underwood is a manufacturer of environmentally-friendly, specialty chemical products for the amenity turf, lawn care, aquatics, seed, and landscaping markets. Becker Underwood is based in Ames, Iowa.

Buy $200M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2005-05-01 Penguin Logistics

Wexford, Pennsylvania, United States

Penguin Logistics LLC (dba MHF Services) is a provider of specialized logistical solutions related to the movement of environmentally sensitive materials.

Buy -