M&A Deal Summary

First Analysis, Emigrant Capital and The Walnut Group Acquire M Cubed

On January 1, 2000, venture capital firm First Analysis, corporate investor Emigrant Capital and The Walnut Group acquired machinery company M Cubed from Lanxide

Acquisition Highlights
  • This is First Analysis’ 1st, Emigrant Capital’s 1st and The Walnut Group’s 1st transaction in the Machinery sector.
  • This is First Analysis’ 8th, Emigrant Capital’s 1st and The Walnut Group’s 1st transaction in the United States.
  • This is First Analysis’ 1st, Emigrant Capital’s 1st and The Walnut Group’s 1st transaction in Connecticut.
Investment Fate
  • M Cubed was sold to a publicly-traded strategic buyer in 2012 for 71M USD.

M&A Deal Summary

Date 2000-01-01
Target M Cubed
Sector Machinery
Buyer(s) First Analysis
Emigrant Capital
The Walnut Group
Sellers(s) Lanxide
Deal Type Divestiture

Target

M Cubed

Newtown, Connecticut, United States
M Cubed develops and markets advanced composite products to original equipment manufacturers in semiconductor, display, industrial, and defense markets worldwide.

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Buyer(S) 3

Buyer

First Analysis

Chicago, Illinois, United States

Investor Investor Investor Investor Investor


Category Venture Capital Firm
Founded 1981
PE ASSETS 800M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

First Analysis is a financial advisory and investment firm. First Analysis' private equity arm targets investments in growth companies at all stages of development. The Group looks for opportunities based primarily in the US and can commit up to $10 million of equity per transaction. Sectors of particular interest include outsourced services, (business/government services, education, environmental services, healthcare services, marketing services); information technology, (business integration, call centers, healthcare IT, network security, open source, sensor systems, transaction processing); and chemistry enabled businesses (advanced materials, chemicals, healthcare products, polymers, purification). First Analysis was formed in 1981 and is based in Chicago, Illinois.


DEAL STATS #
Overall 9 of 60
Sector: Machinery M&A 1 of 1
Type: Divestiture M&A Deals 1 of 1
State: Connecticut M&A 1 of 2
Country: United States M&A 8 of 57
Year: 2000 M&A 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2000-01-01 NetBOA

United States

netBOA outsourced COBRA benefits administration, HIPAA (Health Insurance Portability and Accountability Act) administration, and retiree benefits transaction processing for large corporations. The Company distinguished itself by offering more custom service than most of its competitors. Its clients included a large airline, utilities, and a regional telephone company. netBOA was acquired by Automatic Data Processing Inc.'s Major Accounts Services (NYSE: ADP) in January 2000.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2000-02-25 Omnipoint

Bellevue, Washington, United States

Omnipoint Corporation was a leader in commercializing PCS and a leading developer and supplier of wireless communication technologies, products, and engineering services. As a pioneer in the industry, Omnipoint was on the forefront of developing and integrating advanced wireless technologies including GSM, GPRS packet data, EDGE, positioning, and Internet access.

Sell -
Buyer

Emigrant Capital

New York, New York, United States

Investor Investor Investor Investor


Category Corporate Investor
Founded 1998
PE ASSETS 200M USD
Size Small
Type Sector Agnostic
DESCRIPTION

Emigrant Capital Corp is the investment arm of family-owned Emigrant Saving Bank. Emigrant provides both debt and equity capital to lower middle-market companies headquartered in the US. Through its affiliation with Emigrant Saving Bank, Emigrant Capital provides financial solutions including traditional equity investments, hybrid debt/equity securities, mezzanine, and senior debt financing. Emigrant Capital focuses on profitable companies with strong management teams, large addressable markets, diversified revenues and customers, revenues between $10 - $100 million, and EBITDA of $2 - $15 million. Emigrant looks to invest $5 to $30 million per transaction. Specific areas of interest include healthcare, technology, and manufacturing. The Firm will consider a variety of transaction types, including buyouts, recapitalizations, growth equity, turnarounds, and special situations. Emigrant Capital Corp was formed in 1998 and is based in New York City.


DEAL STATS #
Overall 1 of 6
Sector: Machinery M&A 1 of 1
Type: Divestiture M&A Deals 1 of 1
State: Connecticut M&A 1 of 1
Country: United States M&A 1 of 6
Year: 2000 M&A 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2003-06-19 AC Label

Salt Lake City, Utah, United States

AC Label is a provider of pressure sensitive labels, stickers, coupons and packaging solutions. The company provides its service to a diverse customer base including companies in distilled spirits, specialty beverages, food, nutracueticals and health and beauty.

Sell -
Buyer

The Walnut Group

Cincinnati, Ohio, United States

Category Private Equity Firm
Size Small
Type Sector Agnostic
DESCRIPTION

The Walnut Group was a private equity firm that made investments across a broad range of industry sectors. Sectors of interest included retail, consumer products, media, communications, consumer services, business services, manufacturing, real estate, entertainment, restaurants, and defense. The Walnut Group sought investments in privately held companies seeking to accelerate growth, corporate divestitures, late stage high-potential ventures which have not yet achieved significant levels of earnings or cash flow, or family-owned companies seeking to recapitalize. The Walnut Group was based in Cincinnati, Ohio.


DEAL STATS #
Overall 1 of 9
Sector: Machinery M&A 1 of 1
Type: Divestiture M&A Deals 1 of 1
State: Connecticut M&A 1 of 2
Country: United States M&A 1 of 9
Year: 2000 M&A 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2003-01-01 Peco Pallet

Itasca, Illinois, United States

Peco Pallet engages in transportation and logistics services in North America. Peco Pallet owns a pool of approximately 20 million wood block pallets that primarily serve food and beverage manufacturers in shipping their goods in a cost-effective manner. Peco Pallet was established in 1997 and is based in Itasca, Illinois.

Buy -

Seller(S) 1

SELLER

Lanxide

United States

Category Company
Sector Metals/Mining
DESCRIPTION

Lanxide Corp. provides metal services in US.


DEAL STATS #
Overall 1 of 1
Sector: Machinery M&A 1 of 1
Type: Divestiture M&A Deals 1 of 1
State: Connecticut M&A 1 of 1
Country: United States M&A 1 of 1
Year: 2000 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
1993-01-01 M Cubed

Newtown, Connecticut, United States

M Cubed develops and markets advanced composite products to original equipment manufacturers in semiconductor, display, industrial, and defense markets worldwide.

Buy -