M&A Deal Summary

First Brands Acquires Hopkins

On November 1, 2023, First Brands acquired automotive company Hopkins from ONCAP Management Partners and Penfund

Acquisition Highlights
  • This is First Brands’ 6th transaction in the Automotive sector.
  • This is First Brands’ 6th transaction in the United States.
  • This is First Brands’ 1st transaction in Kansas.

M&A Deal Summary
Date 2023-11-01
Target Hopkins
Sector Automotive
Buyer(s) First Brands
Sellers(s) ONCAP Management Partners
Penfund
Deal Type Add-on Acquisition

Target

Hopkins

Emporia, Kansas, United States
Hopkins is a manufacturer and marketer of specialized towing products and functional accessories for the automotive and recreational vehicle aftermarket. Hopkins was founded in 1953 and is based in Emporia, Kansas.

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Buyer(S) 1

Buyer

First Brands

Rochester, Michigan, United States
Category Company
Sector Automotive
DESCRIPTION

First Brands is a global automotive parts company that develops, markets, and sells premium products through a portfolio of market-leading brands including: Raybestos complete brake solutions, Centric Parts replacement brake components, FRAM filtration products, Luber-finer® filtration products, TRICO wiper blades, ANCO wiper blades, Carter fuel and water pumps, Autolite spark plugs, StrongArm lift supports, and StopTech performance brakes. First Brands is based in Rochester, Michigan.

DEAL STATS #
Overall 6 of 6
Sector (Automotive) 6 of 6
Type (Add-on Acquisition) 6 of 6
State (Kansas) 1 of 1
Country (United States) 6 of 6
Year (2023) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-08-01 CARDONE Industries

Philadelphia, Pennsylvania, United States

CARDONE Industries is a manufacturer and supplier of automotive replacement parts such as brakes, fuel systems, motors and pumps for cars and trucks. CARDONE Industries was established in 1970 and is based in Philadelphia, Pennsylvania.

Buy -

Seller(S) 2

SELLER

ONCAP Management Partners

Toronto, Ontario, Canada

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1999
PE ASSETS 1.8B USD
Size Large
Type Sector Agnostic
DESCRIPTION

ONCAP is the mid-market private equity business of Onex Corporation. ONCAP looks to invest in small and mid-sized North American businesses where it can commit $20 to $200 million of equity capital. ONCAP considers investment opportunities in a wide range of industry sectors. Situations of interest include, complete or partial sales of a closely held private companies, divestitures, companies seeking equity capital to pursue key strategic initiatives, and take privates. ONCAP was established in 1999 and is based in Toronto.

DEAL STATS #
Overall 17 of 18
Sector (Automotive) 2 of 2
Type (Add-on Acquisition) 6 of 7
State (Kansas) 1 of 1
Country (United States) 9 of 9
Year (2023) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-07-11 Right at School

Evanston, Illinois, United States

Right at School provides safe, engaging, and meaningful in-school and extracurricular programs to enrich the lives of students, give parents peace of mind, and enable schools to focus on their academic mission. Right at School was founded in 2011 and is based in Evanston, Illinois.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-06-03 EnGlobe

Quebec, Quebec, Canada

EnGlobe is an international integrated environmental services company specializing in the management of organic-based waste streams and contaminated soils, with an emphasis on beneficial reuse. Englobe offers a broad suite of services from engineering, design and inspection to environmental consulting and remediation. EnGlobe was formed in 1961 and is headquartered in Quebec.

Sell $475M
SELLER

Penfund

Toronto, Ontario, Canada

Investor Investor Investor Investor Investor

Category Mezzanine Finance Firm
Founded 1979
PE ASSETS 2.7B CAD
Size Large
Type Sector Agnostic
DESCRIPTION

Penfund is a private investment firm that provides equity, junior capital, and alternative financing to Canadian-based middle-market companies with EBITDA of at least C$20 million. Penfund can commit up to C$225 million per transaction. Penfund does not have any industry preferences and its investments are generally used to support growth needs, recapitalization, shareholder liquidity, acquisitions, and buyouts. Penfund was formed in 1979 and is based in Toronto.

DEAL STATS #
Overall 19 of 19
Sector (Automotive) 3 of 3
Type (Add-on Acquisition) 8 of 8
State (Kansas) 1 of 1
Country (United States) 10 of 10
Year (2023) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-02-10 Forefront Dermatology

Manitowoc, Wisconsin, United States

Forefront Dermatology delivers medical dermatology, fully integrated surgery and pathology services through more than 130 clinics across 16 U.S. states. Forefront Dermatology was formed in 1980 and is based in Manitowoc, Wisconsin.

Sell -
Mergr

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