M&A Deal Summary

Gemini Investors and Plenary Partners Acquire American Standard Circuits

On July 27, 2021, private equity firm Gemini Investors and merchant bank Plenary Partners acquired manufacturer American Standard Circuits

Acquisition Highlights
  • This is Gemini Investors’ 10th and Plenary Partners’ 1st transaction in the Manufacturing sector.
  • This is Gemini Investors’ 92nd and Plenary Partners’ 2nd transaction in the United States.
  • This is Gemini Investors’ 4th and Plenary Partners’ 2nd transaction in Illinois.

M&A Deal Summary

Date 2021-07-27
Target American Standard Circuits
Sector Manufacturing
Buyer(s) Gemini Investors
Plenary Partners
Deal Type Recapitalization
Advisor(s) Sikich (Financial)

Target

American Standard Circuits

West Chicago, Illinois, United States
American Standard Circuits is a manufacturer of quality rigid, metal-backed, flex and rigid-flex printed circuit boards. American Standard Circuits was founded in 1988 and is based in West Chicago, Illinois.

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Buyer(S) 2

Buyer

Gemini Investors

Wellesley, Massachusetts, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1993
PE ASSETS 700M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Gemini Investors is a middle-market private equity firm that targets investments in growing and established businesses. Areas of interest include technology, business services, consumer services, healthcare, education, manufacturing and distribution. Gemini looks for companies with $5 to $50 million in annual revenue and typically makes investments of $3 to $8 million in the form of preferred stock and/or subordinated debt. Prospective transaction types include growth capital, recapitalization and buyout situations. Gemini Investors was formed in 1993 and is based in Wellesley, Massachusetts.


DEAL STATS #
Overall 92 of 96
Sector (Manufacturing) 10 of 10
Type (Recapitalization) 21 of 21
State (Illinois) 4 of 4
Country (United States) 92 of 96
Year (2021) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-06-03 Primestream

Miami, Florida, United States

Primestream is a provider of advanced broadcast and new media solutions. Primestream solutions are used by customers within various market verticals, including Enterprise, Digital Media, Sports, and Broadcast. The solutions are designed to solve the unique and increasingly complex creative, business and technology challenges in each market. Primestream was founded in 1999 and is based in Miami, Florida.

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FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-09-02 360 Physical Therapy

Chandler, Arizona, United States

360 Physical Therapy operates outpatient physical therapy clinics that treat a wide range of orthopedic, chronic pain, neuropathic, and vestibular disorders. 360 Physical Therapy was founded in 2001 and is based in Chandler, Arizona.

Sell -
DESCRIPTION

Plenary Partners is a private investment and advisory firm focused on investing in and working with businesses that may be facing operational or other challenges that has hurt chances for growth or possible investment. The Firm has a preference for companies with defendable products or services with positive market reputations. Sectors of interest include consumer products, energy, healthcare, business services, and industrials. Plenary Partners was formed in 2009 and is based in Chicago, Illinois.


DEAL STATS #
Overall 2 of 2
Sector (Manufacturing) 1 of 1
Type (Recapitalization) 1 of 1
State (Illinois) 2 of 2
Country (United States) 2 of 2
Year (2021) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-02-27 Ocular Partners

Chicago, Illinois, United States

Ocular Partners is an operator of clinically and surgically-focused eyecare services in the Midwest that provides best-in-class vision care services in the greater Chicago area, with more than 20 providers in nine locations, and 10 specialties including cataract, cornea, refractive, anterior segment, glaucoma, surgical and medical retina, oculoplastics (eyelid, tear duct, orbital and cosmetic), comprehensive ophthalmology and optometry. Ocular Partners was founded in 2020 and is based in Chicago, Illinois.

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