Recapitalization • Distribution

Frontenac Acquires A. H. Harris & Sons

On June 10, 2015, private equity firm Frontenac acquired distribution company A. H. Harris & Sons from Navigation Capital Partners

Acquisition Context
  • This is Frontenac’s 6th transaction in the Distribution sector.
  • This is Frontenac’s 54th transaction in the United States.
  • This is Frontenac’s 3rd transaction in Connecticut.
Investment Fate
  • A. H. Harris & Sons was sold to a publicly-traded strategic buyer in 2018 for 380M USD.

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M&A Deal Summary

Date June 10, 2015
Target A. H. Harris & Sons
Sector Distribution
Buyer(s) Frontenac
Sellers(s) Navigation Capital Partners
Deal Type Recapitalization

Target Company

A. H. Harris & Sons

West Hartford, Connecticut, United States
A.H. Harris distributes building products to the heavy & highway, commercial, industrial and residential markets with the same goal in mind as its founding fathers.
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Buyer Overview 1

Buyer

Frontenac

Chicago, Illinois, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1971
PE ASSETS 2.1B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Frontenac is a Midwest US-based private equity firm that seek profitable, lower middle-market company investments with $5 to $25 million of EBITDA. Frontenac typically partners with management when pursuing acquisitions, including companies managed by owner-operators. Sectors of interest include financial services, healthcare services, education/HR services, manufacturing, publishing/media, and technology services. Frontenac was formed in 1971 and is based in Chicago, Illinois.


Deal Context for Buyer #
Overall 56 of 81
Sector: Distribution 6 of 11
Type: Recapitalization 15 of 29
State: Connecticut 3 of 3
Country: United States 54 of 77
Year: 2015 5 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-02-10 Spice Chain

East Brunswick, New Jersey, United States

Spice Chain Corporation is an importer, processor, packager and supplier of premium quality ingredients to the foodservice, private label retail and food manufacturing industries.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-08-11 Salient Federal Solutions

Fairfax, Virginia, United States

Salient Federal Solutions, Inc. is a provider of technology and engineering services to government agencies, primarily within the intelligence community and the Department of Defense.

Sell -

Seller Profile 1

SELLER

Navigation Capital Partners

Atlanta, Georgia, United States

Investor


Category Private Equity Firm
Founded 2006
PE ASSETS 340M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Navigation Capital Partners (NCP) is a private equity firm that makes growth and buyout investments in established mid-market companies with longstanding customer relationships, proprietary manufacturing processes, and mission-critical services. Target companies typically have annual sales up to $150 million and the firm can commit between $10 and $40 million of equity capital per transaction. Sectors of interest include engineered industrial products, automotive & recreational vehicle components, building & construction products, packaging products & services, specialty chemicals, value-added distribution, business services, financial services, healthcare services, and transportation/logistics. Navigation Capital Partners is based in Atlanta, Georgia.


Deal Context for Seller #
Overall 20 of 26
Sector: Distribution 2 of 2
Type: Recapitalization 2 of 2
State: Connecticut 1 of 1
Country: United States 20 of 26
Year: 2015 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-10-08 NDS

Woodland Hills, California, United States

NDS is a manufacturer of water management solution products, including plastic irrigation, drainage, and valve products that are used in many common residential, commercial, and landscaping applications in North America. NDS was founded in 1972 and is based in Woodland Hills, California.

Sell $285M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-07-02 Quantapoint

Houston, Texas, United States

Quantapoint provides digital measurement technology and specialized services that help clients achieve Zero-Defect Projects™ and improve asset lifecycle decison making. The company "digitizes" facilities using its patented laser scanning technology and provides professional services for visualization, analysis, quality control and decision support to help eliminate potential risks across the project lifecycle.

Sell -