M&A Deal Summary

Fulham and Pine Street Capital Partners Acquire CinchSeal

On January 1, 2019, private equity firm Fulham and mezzanine finance firm Pine Street Capital Partners acquired manufacturer CinchSeal

Acquisition Highlights
  • This is Fulham’s 5th and Pine Street Capital Partners’ 5th transaction in the Manufacturing sector.
  • This is Fulham’s 10th and Pine Street Capital Partners’ 33rd transaction in the United States.
  • This is Fulham’s 1st and Pine Street Capital Partners’ 3rd transaction in New Jersey.

M&A Deal Summary

Date 2019-01-01
Target CinchSeal
Sector Manufacturing
Buyer(s) Fulham
Pine Street Capital Partners
Deal Type Buyout (LBO, MBO, MBI)

Target

CinchSeal

Cherry Hill, New Jersey, United States
CinchSeal is a designer and manufacturer of rotary shaft seals for screw conveyors, ribbon blenders, and other industrial mixing and blending equipment. The Company provides sealing solutions for food processing, lithium-ion battery production, chemical production, pulp & paper processing, and bulk material handling. CinchSeal is based in Cherry Hill, New Jersey.

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Buyer(S) 2

Buyer

Fulham

Wellesley, Massachusetts, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1984
PE ASSETS 280M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Fulham & Co. is a private investment firm that targets investments in companies in which ownership wants to reduce their investment stake. Fulham looks for businesses with strong brands or highly engineered products. Target companies typically have EBITDA of $2 to $8 million. Fulham & Co. was originally formed in 1917 and has been investing in companies since 1984. Fulham is based in Wellesley, Massachusetts.


DEAL STATS #
Overall 10 of 11
Sector (Manufacturing) 5 of 6
Type (Buyout (LBO, MBO, MBI)) 4 of 4
State (New Jersey) 1 of 1
Country (United States) 10 of 11
Year (2019) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-01-11 Delphon

Hayward, California, United States

Delphon is a provider of materials and services for the shipping, processing and packaging of high-value semiconductor, medical, photonics, telecommunications and military markets. The Company’s material scientists and R&D engineers work collaboratively with their customers to develop customized materials. Delphon was founded in 2004 and is headquartered in Hayward, California, and has additional manufacturing operations in Wilsonville, Oregon.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-01-01 MPF Products

Gray Court, South Carolina, United States

MPF Products is a manufacturing company that produces connectors, feedthroughs, and viewports using ceramic-to-metal seal technology for a variety of Ultra High Vacuum applications, including semiconductor equipment, vacuum coating, quantum technology and aerospace manufacturing. MPF Products was founded in 1994 and is based in Gray Court, South Carolina.

Buy -
Buyer

Pine Street Capital Partners

Albany, New York, United States

Investor Investor Investor Investor Investor


Category Mezzanine Finance Firm
Founded 2004
PE ASSETS 425M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Pine Street Capital Partners (PSCP) provides mezzanine capital to small and medium-sized private and public companies. PSCP will consider investments from $3 to $15 million in companies generating at least $10 million of sales. Target sectors include manufacturing, business services, consumer products, healthcare and media. PSCP prefers investments in the Northeast and Mid-Atlantic regions of the US, but will consider opportunities nationwide. Investment funds are typically used to support strategic acquisitions, growth, management and employee buyouts, and leveraged recapitalization. PSCP will not invest in the real estate, biotech and oil & gas industries. Pine Street Capital Partners was formed in 2004 and is based in Albany, New York.


DEAL STATS #
Overall 33 of 41
Sector (Manufacturing) 5 of 6
Type (Buyout (LBO, MBO, MBI)) 13 of 16
State (New Jersey) 3 of 3
Country (United States) 33 of 41
Year (2019) 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-01-01 NPL

Strongsville, Ohio, United States

NPL provides customized mobility equipment, primarily wheelchairs, to its end users who are reached through a network of physical therapists and other healthcare professionals. NPL was founded in 1993 and is based in Strongsville, Ohio.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-07-24 DeIorio Foods

Utica, New York, United States

DeIorio Foods is a manufacturer of specialty frozen dough for the pizza industry. DeIorio Foods was founded in 1924 and is based in Utica, New York.

Buy -