M&A Deal Summary

FOMAS Acquires Ajax Rolled Ring & Machine

On October 14, 2014, FOMAS acquired machinery company Ajax Rolled Ring & Machine from Prospect Capital Management, Stewart Capital Management and Pegasus Capital Group

Acquisition Highlights
  • This is FOMAS’s 1st transaction in the Machinery sector.
  • This is FOMAS’s 1st transaction in the United States.
  • This is FOMAS’s 1st transaction in South Carolina.

M&A Deal Summary
Date 2014-10-14
Target Ajax Rolled Ring & Machine
Sector Machinery
Buyer(s) FOMAS
Sellers(s) Prospect Capital Management
Stewart Capital Management
Pegasus Capital Group
Deal Type Add-on Acquisition

Target

Ajax Rolled Ring & Machine

York, South Carolina, United States
Ajax Rolled Ring & Machine, Inc. is a manufacturer of seamless rolled rings. Ajax provides heat treating, machining, and shot blasting of the forged rings. The rings are consumed in various global end markets, including mining, construction, oil and gas, and power generation. Ajax Rolled Ring & Machine was founded in 1956 and is based in York, South Carolina.

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Buyer(S) 1

Buyer

FOMAS

Osnago, Italy
Category Company
Founded 1956
Sector Manufacturing
DESCRIPTION

FOMAS S.p.A. is a manufacturer of components for heavy duties to provide turnkey solutions, from forging and ring rolling to the finished machined parts including bearing races, gears, flanges, and valve seat rings for end-use markets such as the bearing industry, power-generation including steam and gas-turbine, wind energy, mining, and construction equipment, oil & gas, aerospace, petrochemical, defense, rail transportation, and a wide variety of general industrial applications. FOMAS was founded in 1956 and is based in Osnago, Italy.

DEAL STATS #
Overall 1 of 1
Sector (Machinery) 1 of 1
Type (Add-on Acquisition) 1 of 1
State (South Carolina) 1 of 1
Country (United States) 1 of 1
Year (2014) 1 of 1

Seller(S) 3

SELLER

Prospect Capital Management

New York, New York, United States

Investor Investor Investor Investor Investor

Category Business Development Company
Founded 1988
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Prospect Capital Corporation is a publicly traded mezzanine debt and private equity firm that primarily provides non-control financing to support growth, recapitalizations, acquisitions, and development. Prospect will selectively consider control acquisitions by providing multiple levels of the capital structure. Prospect was initially formed in 1988 and went public 2004. The Firm is based in New York City.

DEAL STATS #
Overall 29 of 48
Sector (Machinery) 2 of 3
Type (Add-on Acquisition) 10 of 17
State (South Carolina) 2 of 2
Country (United States) 29 of 47
Year (2014) 8 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-09-15 The TriZetto Group

Denver, Colorado, United States

The TriZetto Group develops, licenses and manages software solutions for the US health insurance industry. The TriZetto Group is based in Denver, Colorado.

Sell $2.7B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-02-17 PrimeSport

Atlanta, Georgia, United States

PrimeSport, Inc. is a provider of direct access to the biggest sporting events on the planet, offering tickets, travel, hospitality, and VIP experiences for corporations, professional sports teams and fans. PrimeSport was founded in 2010 and is based in Atlanta, Georgia.

Sell -
SELLER

Stewart Capital Management

Overland Park, Kansas, United States

Investor

Category Private Equity Firm
Founded 2006
Size Small
Type Sector Agnostic
DESCRIPTION

Stewart Capital Management is a private equity firm that invests in middle-market companies headquartered throughout North America. Stewart focuses on companies with revenues in excess of $20 million and EBITDA greater than $3 million. Specific areas of interest include manufacturing, direct marketing, restaurant, and retail companies. The Firm will consider a variety of transaction types, including MBO’s, growth capital financings, recapitalizations and corporate divestitures. Stewart Capital Management was formed in 2006 and is based in Overland Park, Kansas.

DEAL STATS #
Overall 2 of 4
Sector (Machinery) 1 of 1
Type (Add-on Acquisition) 1 of 2
State (South Carolina) 1 of 1
Country (United States) 2 of 4
Year (2014) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-09-04 QK

Holbrook, Arizona, United States

QK operates 79 Denny's restaurants in six states (Arizona, New Mexico, Texas, Colorado, Utah and Oregon) and is the largest franchisee of Denny's restaurants in the world. In November of 2000, QK diversified and purchased its first Del Taco restaurant in Albuquerque, New Mexico. Today, they operate six Del Taco restaurants in New Mexico.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-09-10 Transnational Foods

Miami, Florida, United States

Transnational Foods is an international distributor of quality shelf-stable food products, including canned seafood, pickles, olives, juices, and grains to retailers throughout the U.S. Transnational Foods was founded in 2002 and is based in Miami, Florida.

Buy -
SELLER

Pegasus Capital Group

Santa Monica, California, United States

Investor Investor

Category Private Equity Firm
Founded 1997
Size Small
Type Sector Agnostic
DESCRIPTION

Pegasus Capital Group is a private investment firm that acquires established, profitable, growth-oriented businesses in non-technology intensive industries. Pegasus has a particular interest in niche-manufacturing, but will also consider value-added distribution and specialty service companies. The Firm prefers North American opportunities. Prospective companies typically have revenues of $5 to $75 million and EBITDA of at least $2 million. Pegasus avoids investing in start-ups, early-stage ventures, technology-driven companies, or minority investments. Pegasus Capital Group was formed in 1997 and is located in Los Angeles, California.

DEAL STATS #
Overall 4 of 10
Sector (Machinery) 2 of 3
Type (Add-on Acquisition) 3 of 5
State (South Carolina) 1 of 1
Country (United States) 4 of 10
Year (2014) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-09-09 Midwest Automotive Designs

Elkhart, Indiana, United States

Midwest Automotive Designs LLC is a provider of custom sprinter conversion vans and specialty Manufacturing Custom & Premium Up-fitter of Vans. Midwest Automotive Designs was formed in 2003 and is based in Elkhart, Indiana.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-04-01 SPG

Atlanta, Georgia, United States

SPG manufactures and supplies commercial-grade, steel, stainless steel, and aluminum materials handling and storage products used in a variety of end-markets including industrial distribution, food service, and grocery and convenience stores. It primarily sells to the domestic locations of leading industrial distributors, quick-service restaurant brands and franchisees, big box retailers, and convenience stores, working directly with customers to engineer custom storage and material handling solutions. SPG was founded in 2010 and is based in Atlanta, Georgia.

Sell -
Mergr

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