M&A Deal Summary

Fujitsu Acquires TrueNet Communications

On May 5, 2016, Fujitsu acquired technology hardware company TrueNet Communications from River Associates, Bush O Donnell Capital Partners and Eagle Private Capital

Acquisition Highlights
  • This is Fujitsu’s 2nd transaction in the Technology Hardware sector.
  • This is Fujitsu’s 6th transaction in the United States.
  • This is Fujitsu’s 1st transaction in Florida.

M&A Deal Summary
Date 2016-05-05
Target TrueNet Communications
Sector Technology Hardware
Buyer(s) Fujitsu
Sellers(s) River Associates
Bush O Donnell Capital Partners
Eagle Private Capital
Deal Type Add-on Acquisition

Target

TrueNet Communications

Jacksonville, Florida, United States
TrueNet Communications, Inc. is a provider of communications network infrastructure services specializing in delivering consulting, engineering, installation and technical services to the Broadband, Wireless and Wireline Carrier, Energy and Utility, and corporate and government markets. TrueNet is extremely well positioned to capitalize on the demand for broadband infrastructure driven by the ever increasing need for bandwidth

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Buyer(S) 1

Buyer

Fujitsu

Tokyo, Japan
Category Company
Founded 1923
Sector Communications
Employees124,216
Revenue 3.76T JPY (2024)
DESCRIPTION

Fujitsu is an information and communication technology (ICT) company offering a full range of technology products, solutions and services. Fujitsu was incorporated in 1923 and is based in Tokyo, Japan.

DEAL STATS #
Overall 11 of 14
Sector (Technology Hardware) 2 of 2
Type (Add-on Acquisition) 10 of 13
State (Florida) 1 of 1
Country (United States) 6 of 6
Year (2016) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-05-02 GlobeRanger

Richardson, Texas, United States

GlobeRanger, is a provider of end-to-end enterprise edge solutions. This enables companies to harness data that is generated outside traditional IT environments to improve their business processes and move closer to being real-time organizations.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-07-26 FCL Components

Tokyo, Japan

FCL Components is a manufacturer and sells switching devices (relays, connectors, etc.) and human interface devices (touch panels, keyboards, etc.) as well as electric appliances. FCL Components is based in Tokyo, Japan.

Sell -

Seller(S) 3

SELLER

River Associates

Chattanooga, Tennessee, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1989
PE ASSETS 1.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

River Associates is a private equity firm that targets buyouts, divestitures and recapitalizations of lower middle-market companies. River looks for investments in manufacturing, high-margin distribution, industrial services and 'non-faddish' retail companies. The Firm focuses on companies located in the US and Canada with minimum sales of $15 million and EBITDA of $3 to $12 million. River Associates avoids investing in heavily regulated industries as well as start-up, high-technology, commodity or natural resource companies. River Associates was formed in 1989 and is based in Chattanooga, Tennessee.

DEAL STATS #
Overall 17 of 25
Sector (Technology Hardware) 1 of 1
Type (Add-on Acquisition) 5 of 7
State (Florida) 1 of 1
Country (United States) 16 of 24
Year (2016) 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-02-25 Weaver Leather

Mount Hope, Ohio, United States

Weaver Leather is a provider of leather and nylon products and accessories into the Western-style equine, livestock, pet, and arborist markets. Weaver manufactures, markets, and distributes a broad line of branded and non-branded leather, nylon/synthetic, hardware, and other products and product accessories uniquely designed for its four consumer-focused divisions (equine, livestock, pet, and arborist) - and its wholesale supply division. Weaver Leather was established in 1973 and is based in Mount Hope, Ohio.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-09-29 OMEGA Environmental Technologies

Irving, Texas, United States

OMEGA Environmental Technologies is an aftermarket distributor of climate control products and other mission-critical components across the light and heavy-duty automotive sectors. OMEGA Environmental Technologies was founded in 1989 and is based in Irving, Texas.

Sell -
SELLER

Bush O Donnell Capital Partners

St. Louis, Missouri, United States
Category Private Equity Firm
PE ASSETS 250M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Bush O'Donnell Capital Partners (BOCP) is the private equity investment arm of Bush O'Donnell & Co., a firm that also provides investment advisory services. BOCP makes equity and mezzanine investments of $2 to $10 million in lower middle-market businesses with $5 to $100 million in sales. Funds are generally used to support growth initiatives, management buyouts, leveraged buyouts, and recapitalizations. Prospective companies typically have experienced management, stable cash-flows, and operate in a defensible market niche. The Firm will not invest in start-ups or turnarounds. BOCP is based in St. Louis, Missouri.

DEAL STATS #
Overall 20 of 25
Sector (Technology Hardware) 1 of 1
Type (Add-on Acquisition) 12 of 15
State (Florida) 2 of 2
Country (United States) 20 of 25
Year (2016) 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-01-04 Infinity Homecare

Sarasota, Florida, United States

Infinity Homecare, Inc. is a home health care and hospice services company delivering personalized home health and hospice care to more than 360,000 patients each year.

Sell $63M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-06-03 Quadrant Software

Mansfield, Massachusetts, United States

Quadrant Software, Inc. is a provider of electronic document management software primarily for the IBM iSeries. Quadrant provides application modernization, mobile development, business intelligence and document distribution solutions and services.

Sell -
SELLER

Eagle Private Capital

St. Louis, Missouri, United States

Investor Investor Investor Investor Investor

Category Mezzanine Finance Firm
PE ASSETS 1.0B USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Eagle Private Capital (EPC) makes private equity and mezzanine investments in middle-market companies. The Firm typically invests $4 to $15 million per investment. EPC looks to partner with management or other private equity investors to provide growth or change of control capital. EPC is based in St. Louis, Missouri.

DEAL STATS #
Overall 29 of 49
Sector (Technology Hardware) 2 of 2
Type (Add-on Acquisition) 13 of 25
State (Florida) 2 of 3
Country (United States) 29 of 49
Year (2016) 4 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-04-18 Avadyne Health

Moline, Illinois, United States

Avadyne Health is a provider of revenue cycle management services to a wide range of healthcare providers across the nation. Avadyne Health was founded in 1971 and is based in Moline, Illinois.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-05-09 Bakken Resources

Helena, Montana, United States

Bakken Resources, Inc. is an independent energy company engaged in developing oil and natural gas properties. Current focus is on the Williston Basin in North Dakota, as we now own certain mineral rights beneath approximately 6,000 acres south of the town of Williston.

Buy -
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