M&A Deal Summary

Frontenac and NMP Capital Acquire Newterra

On November 2, 2020, private equity firm Frontenac and mezzanine finance firm NMP Capital acquired environmental company Newterra from Angeleno Group

Acquisition Highlights
  • This is Frontenac’s 1st and NMP Capital’s 2nd transaction in the Environmental sector.
  • This is Frontenac’s 1st and NMP Capital’s 3rd transaction in Canada.
  • This is Frontenac’s 1st and NMP Capital’s 3rd transaction in Ontario.

M&A Deal Summary
Date 2020-11-02
Target Newterra
Sector Environmental
Buyer(s) Frontenac
NMP Capital
Sellers(s) Angeleno Group
Deal Type Secondary Buyout

Target

Newterra

Brockville, Ontario, Canada
Newterra is a provider of decentralized water and wastewater treatment solutions to the global mining, oil & gas, and private development markets. Newterra was founded in 1863 and is based in Brockville, Ontario.

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Buyer(S) 2

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 STATS #
Overall 68 of 79
Sector (Environmental) 1 of 1
Type (Secondary Buyout) 6 of 8
State (Ontario) 1 of 2
Country (Canada) 1 of 2
Year (2020) 4 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-09-30 Integris

Cranbury Township, New Jersey, United States

Integris is a managed IT services provider, dedicated to helping our customers stay one step ahead of their IT infrastructure and data safety needs. The company offers strategic IT consulting services, hardware and software management, networking, a 24/7 service desk, on-site troubleshooting/installations, cybersecurity monitoring, backup solutions, and more. Integris was founded in 1997 and is based in Cranbury Township, New Jersey.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-01-11 Monterey Bay Spice

Watsonville, California, United States

Monterey Bay Spice Co. is a processor and distributor of botanicals, herbs, teas, essential oils, seasonings and spices. Products are sold online, in bulk, and through co-pack agreements into the nutraceutical, food & beverage, and health & beauty end markets. The Company’s website HERBCO.com has been delivering premium botanicals, herbs, teas, essential oils, seasonings, spices, and much more. Monterey Bay Spice Co. was founded in 1997, and headquartered in Watsonville, California.

Buy -
Buyer

NMP Capital

Minneapolis, Minnesota, United States

Investor Investor Investor Investor Investor

Category Mezzanine Finance Firm
Founded 2000
PE ASSETS 4.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

NMP Capital is an independent investment firm focused on providing junior capital to a variety of lower middle-market companies in partnership with financial sponsors. NMP looks to commit $20 to $75 million in profitable companies with at least $10 million of EBITDA. NMP will consider opportunities in a wide range of industries including distribution, manufacturing, healthcare, and consumer. NMP Capital was formed in 2000 and is based in Minneapolis, Minnesota.

DEAL STATS #
Overall 80 of 88
Sector (Environmental) 2 of 2
Type (Secondary Buyout) 25 of 31
State (Ontario) 3 of 3
Country (Canada) 3 of 3
Year (2020) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-05-05 Kernel Season s

Elk Grove Village, Illinois, United States

Kernel’s product portfolio includes more than a dozen popcorn flavors, ranging from simple butter and white cheddar to garlic parmesan and cheesy caramel corn, as well as popcorn oils and drizzles. The Company’s products are sold in more than 22,000 retailers, including mass merchants, grocery and specialty stores, throughout North America and internationally. The products also can be found in movie theaters in more than 30 countries worldwide, accounting for over 32,000 screens. Kernel Season's was formed in 1999 and is based in Elk Grove Village, Illinois.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-12-11 Red Monkey Foods

Springfield, Missouri, United States

Red Monkey Foods is a provider of organic spices, seasonings, and other natural dry food products. Operating out of a state-of-the-art facility, the company manages gourmet store brand programs for many of the nation’s largest food, mass, and specialty retailers. Red Monkey Foods was founded in 2002 and is based in Springfield, Missouri.

Buy -

Seller(S) 1

SELLER

Angeleno Group

Los Angeles, California, United States

Investor Investor Investor Investor Investor

Category Growth Capital Firm
Founded 2001
Size Small
Type Sector Agnostic
DESCRIPTION

Angeleno Group is a private equity firm focused on high growth investments within the energy sector. The Firm pursues a wide range of opportunities and will consider transactions across the US. Angeleno looks for companies that are heavily involved in the development of innovative products and services that are emerging as potential solutions to global energy and environmental challenges. Specific sub-sectors of interest include clean transportation, emissions control and carbon management, energy efficiency, power infrastructure, renewable energy, solar, waste management, and wind. The Firm looks to commit $10 to $30 million per investment and will consider a variety of deal types, including secondaries, first institutional equity, growth equity, and PIPEs. Angeleno Group was founded in 2001 and is based in Los Angeles, California.

DEAL STATS #
Overall 13 of 18
Sector (Environmental) 1 of 2
Type (Secondary Buyout) 1 of 1
State (Ontario) 1 of 1
Country (Canada) 1 of 1
Year (2020) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-03-23 Soraa

Fremont, California, United States

Soraa, Inc. developer of GaN-on-GaN (gallium nitride on gallium nitride) solid-state LED lighting technology for the general illumination market. Soraa’s products offer superior light quality and color rendering when compared to other LEDs while using a fraction of the energy of a comparable halogen lamp. Soraa was founded in 2008 and is based in Fremont, California.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-04-29 Stem

San Francisco, California, United States

Stem is a provider of commercial energy storage systems. Stem delivers innovative technology services that transform the way energy is distributed and consumed. Through its AI platform Athena, Stem powers the largest, most reliable network of energy storage systems in the world. Stem was founded in 2009 and is based in San Francisco, California.

Sell -
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