Buyout (LBO, MBO, MBI) • Distribution

Gen Cap America and Tenth Street Capital Acquire Thomas Pipe & Supply

On June 1, 2008, private equity firm Gen Cap America and mezzanine finance firm Tenth Street Capital acquired distribution company Thomas Pipe & Supply

Acquisition Context
  • This is Gen Cap America’s 6th and Tenth Street Capital’s 2nd transaction in the Distribution sector.
  • This is Gen Cap America’s 19th and Tenth Street Capital’s 10th transaction in the United States.
  • This is Gen Cap America’s 2nd and Tenth Street Capital’s 1st transaction in Arizona.
Investment Fate
  • Thomas Pipe & Supply was sold to a strategic buyer in 2017.

Explore All 833 Buyout (LBO, MBO, MBI) Distribution Deals - Search the Database Free


M&A Deal Summary

Date June 1, 2008
Target Thomas Pipe & Supply
Sector Distribution
Buyer(s) Gen Cap America
Tenth Street Capital
Deal Type Buyout (LBO, MBO, MBI)

Target Company

Thomas Pipe & Supply

Phoenix, Arizona, United States
Thomas Pipe & Supply LLC is a value added distributor of industrial pipe, valves, fittings and flanges (PVF) to the MRO and industrial markets. The company is the largest PVF distributor in the state of Arizona. Customers include industrial contractors, manufacturing facilities, hospitals, schools, service contractors, power plants and original equipment manufacturers.
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Buyers Overview 2

Buyer

Gen Cap America

Nashville, Tennessee, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1988
PE ASSETS 250M USD
Size Small
Type Sector Agnostic
DESCRIPTION

Gen Cap America, Inc. is a private investment firm focused on acquisitions and recapitalization of mid-sized businesses. Gen Cap looks to invest in privately held companies or non-core divestitures generating $10 to $200 million in annual revenues. Gen Cap prefers businesses operating in basic industries, such as manufacturing, distribution, and services. The Firm avoids investing in real estate or 'high-tech' businesses. Gen Cap America was formed in 1988 and is based in Nashville, Tennessee.


Deal Context for Buyer #
Overall 20 of 57
Sector: Distribution 6 of 12
Type: Buyout (LBO, MBO, MBI) 17 of 44
State: Arizona 2 of 3
Country: United States 19 of 56
Year: 2008 2 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2008-03-01 Calling All Ships

Miami, Florida, United States

Calling All Ships is a distributor of health and beauty aids, candy, and sundry products to the cruise line industry and other hospitality industries. Calling All Ships was founded in 1986 and is based in Miami, Florida.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2008-10-01 Van Pool

Wilbraham, Massachusetts, United States

Van Pool is a provider of transportation services for special needs and homeless students in Massachusetts, Connecticut, and New Hampshire. Van Pool was founded in 1980 and is based in Wilbraham, Massachusetts.

Buy -
Buyer

Tenth Street Capital

Chattanooga, Tennessee, United States

Investor Investor


Category Mezzanine Finance Firm
Founded 2005
PE ASSETS 500M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Tenth Street Capital is an independent investment firm that seeks to invest in lower middle-market companies operating in a broad range of industries. The Firm provides mezzanine and equity co-investments to profitable businesses with strong market positions and diverse customers. Areas of interest include manufacturing, distribution, and services. Investment proceeds are generally used to support acquisitions, buyouts, and recapitalizations. Tenth Street Capital was formed in 2005 and is based in Chattanooga, Tennessee.


Deal Context for Buyer #
Overall 10 of 35
Sector: Distribution 2 of 4
Type: Buyout (LBO, MBO, MBI) 8 of 25
State: Arizona 1 of 2
Country: United States 10 of 35
Year: 2008 4 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2008-03-01 Calling All Ships

Miami, Florida, United States

Calling All Ships is a distributor of health and beauty aids, candy, and sundry products to the cruise line industry and other hospitality industries. Calling All Ships was founded in 1986 and is based in Miami, Florida.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2008-10-01 Van Pool

Wilbraham, Massachusetts, United States

Van Pool is a provider of transportation services for special needs and homeless students in Massachusetts, Connecticut, and New Hampshire. Van Pool was founded in 1980 and is based in Wilbraham, Massachusetts.

Buy -