M&A Deal Summary

GenNx360 Capital Partners Acquires Precision Aviation Group

On July 30, 2018, private equity firm GenNx360 Capital Partners acquired aerospace company Precision Aviation Group from Florida Capital Partners, Blue Point Capital Partners, Five Points Capital and PNC Riverarch Capital

Acquisition Highlights
  • This is GenNx360 Capital Partners’ 1st transaction in the Aerospace sector.
  • This is GenNx360 Capital Partners’ 16th transaction in the United States.
  • This is GenNx360 Capital Partners’ 1st transaction in Georgia.

M&A Deal Summary

Date 2018-07-30
Target Precision Aviation Group
Sector Aerospace
Buyer(s) GenNx360 Capital Partners
Sellers(s) Florida Capital Partners
Blue Point Capital Partners
Five Points Capital
PNC Riverarch Capital
Deal Type Secondary Buyout

Target

Precision Aviation Group

Atlanta, Georgia, United States
Precision Aviation Group is a provider of products and value-added services to the worldwide aerospace and defense industry. With nine locations and more than 260,000-square-feet of sales and service facilities in the United States, Canada, Australia, Brazil, and Singapore, PAG uses its distinct business units and customer-focused business model to serve aviation customers through two business functions – Aviation Supply Chain, and its Inventory Supported Maintenance, Repair and Overhaul services. Precision Aviation Group is headquartered in Atlanta, Georgia.

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Buyer(S) 1

Buyer

GenNx360 Capital Partners

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2006
PE ASSETS 1.8B USD
Size Large
Type Sector Agnostic
DESCRIPTION

GenNx360 Capital Partners is a private equity firm focused on acquiring mid-sized US-based businesses. GenNx360 targets companies with revenues between $50 and $500 million and $5 to $35 million of EBITDA. The Firm looks to invest $25 to $100 million per transaction. Specific areas of interest include industrial water treatment, specialty chemicals/engineered materials, industrial machinery/equipment components, agriculture products and services, global transportation component parts, aerospace/defense, oil/gas services and business services. GenNx360 Capital Partners was formed in 2006 and is based in New York City.


DEAL STATS #
Overall 18 of 27
Sector (Aerospace) 1 of 2
Type (Secondary Buyout) 8 of 9
State (Georgia) 1 of 2
Country (United States) 16 of 25
Year (2018) 4 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-04-16 GenServe

Bay Shore, New York, United States

GenServe is an independent provider of scheduled and emergency power generator maintenance, repair and sales in the North Atlantic region serving commercial customers in various industries. GenServe was formed in 1990 and is headquartered in Plainview, New York.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-02-01 Shenandoah Industrial Solutions

Pompano Beach, Florida, United States

Shenandoah Industrial Solutions is a provider of storm drainage system inspection, cleaning, and CIPP rehabilitation serving municipalities and commercial customers. Shenandoah Industrial Solutions is based in Pompano Beach, Florida.

Buy -

Seller(S) 4

SELLER

Florida Capital Partners

Tampa, Florida, United States

Category Private Equity Firm
Founded 1988
PE ASSETS 350M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Florida Capital Partners (FCP) is a private equity firm focused on acquisitions or recapitalizations of profitable private companies located in the continental US. FCP targets businesses with Enterprise value between $20 to $100 million with an EBITDA of $5 to $20 million. FCP prefers companies operating in traditional industries such as niche manufacturering, specialty services, and value-added distribution. FCP avoids investing in commodity products, start-ups, restaurants/hospitality, amusement parks, technology, biotech, retail, and real estate. FCP was formed in 1988 and is based in Tampa, Florida.


DEAL STATS #
Overall 20 of 21
Sector (Aerospace) 1 of 1
Type (Secondary Buyout) 9 of 10
State (Georgia) 2 of 2
Country (United States) 20 of 21
Year (2018) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-10-13 Bell O International

Morganville, New Jersey, United States

Bell’O International is a global designer and manufacturer of premium consumer electronics accessories, mounts and furniture. Company offers hundreds of highly regarded products including: Bell’O audio/video furniture, home theater seating, computer desks and beds, as well as Bell’O Digital consumer electronics accessories including: flat panel TV mounts.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-09-13 Reusability

El Segundo, California, United States

Reusability is a provider of recoverable shipping racks to the nursery industry. The Company's pallet racks and recovery services allow nurseries to efficiently ship their products to retailers nationwide on a cost effective basis, while also increasing store efficiency for retailers via reduced labor and waste. Reusability was founded in 2000 and is based in El Segundo, California.

Sell -
SELLER

Blue Point Capital Partners

Cleveland, Ohio, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1990
PE ASSETS 1.9B USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Blue Point Capital Partners is a middle-market private equity firm focused on investments throughout the US, Canada, and Europe. The Firm looks to commit $10 to $50 million of equity capital in companies generating sales of $30 to $300 million and EBITDA of at least $7 million. Blue Point looks for control investments that arise from management led buyouts, recapitalizaitons, and companies in need of growth capital. Sectors of interest include transportation components, metals processing, plastics, packaging, specialty distribution, environmental, building materials, industrial textiles, transportation/logistics, chemicals, industrial outsourcing, and engineered components. Blue Point will not invest in real estate, restaurants, retail, or companies operating in highly regulated industries. Blue Point Capital Partners was formed in 1990 and has offices in Cleveland, Ohio; Charlotte, North Carolina; and Seattle, Washington.


DEAL STATS #
Overall 28 of 36
Sector (Aerospace) 2 of 3
Type (Secondary Buyout) 17 of 22
State (Georgia) 1 of 2
Country (United States) 26 of 33
Year (2018) 4 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-07-10 Alco

Elyria, Ohio, United States

Alco is a manufacturer of precision machined products, including hydraulic hose fittings, air conditioning, and refrigeration couplings, tube fittings, adapters, quick disconnect couplings, and other fluid power components. Alco was founded in 1971 and is based in Elyria, Ohio.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-08-14 Next Level Apparel

Gardena, California, United States

Next Level Apparel is a designer and supplier of quality, casual apparel to the promotional product, ad specialty, and other decorated apparel markets. The Company’s products are sold blank and marketed under the Next Level brand. The Company’s core product offerings, such as its category of tops – consisting of tees, tanks, hoodies, and jackets. Next Level Apparel was founded in 2003 and is based in Gardena, California.

Buy -
SELLER

Five Points Capital

Winston-Salem, North Carolina, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1997
PE ASSETS 1.3B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Five Points Capital makes both direct private equity and junior capital investments in US-based middle-market companies. Five Points prefers control based investments and will consider opportunities in a variety of industries. For both equity and mezzanine investments, the Firm looks to commit $5 to $25 million of capital in businesses with at least $10 million in sales and $3 million of EBITDA. Five Points Capital was formerly known as BB&T Capital Partners and re-branded in 2015. The Firm was established in 1997 and is based in Winston-Salem, North Carolina.


DEAL STATS #
Overall 33 of 58
Sector (Aerospace) 1 of 1
Type (Secondary Buyout) 20 of 26
State (Georgia) 1 of 2
Country (United States) 33 of 58
Year (2018) 2 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-02-01 Resonetics

Nashua, New Hampshire, United States

Resonetics is a pioneer in laser micro-manufacturing and provides contract manufacturing services to the life sciences industry. Resonetics designs build and integrate its own laser workstations to solve complex manufacturing challenges and has invested heavily in leading-edge technology. Resonetics was founded in 1987 and is based in Nashua, New Hampshire.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-10-23 JSI

Greenbelt, Maryland, United States

JSI is a provider of regulatory and compliance consulting services to telecommunications providers in rural communities across the US. JSI's deep knowledge of the telecom industry and rural broadband markets is a key differentiator benefiting its longstanding client base. The company also provides financial, business management and executive management training services to its client base. JSI was founded in 1962 and is headquartered in Greenbelt, Maryland.

Buy -
SELLER

PNC Riverarch Capital

Pittsburgh, Pennsylvania, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2011
PE ASSETS 250M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

PNC Riverarch Capital is a middle-market private equity group that invests in privately-held companies headquartered throughout North America. The Group looks to commit $10 to $50 million to help fund recapitalizations, leveraged and management buyouts, corporate divestitures and growth financings. Target sectors include business and industrial services, specialized manufacturing, and value-added distribution. PNC Riverarch was formed in 2011 and is an affiliate of PNC Financial Services Group.


DEAL STATS #
Overall 7 of 18
Sector (Aerospace) 1 of 1
Type (Secondary Buyout) 5 of 12
State (Georgia) 2 of 2
Country (United States) 7 of 16
Year (2018) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-03-27 Tranzonic Companies

Knoxville, Tennessee, United States

Tranzonic Companies is a manufacturer and distributor of consumable personal care, cleaning, and MRO products sold to over 30,000 industrial, commercial, institutional, and medical customers. Primary products include wipers, adult incontinence, personal hygiene, and related products with generic and private label brands. The Tranzonic Companies was established in 1933 and is based in Knoxville, Tennessee.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-09-24 Authority Brands

Columbia, Maryland, United States

Authority Brands is a parent company of two home service franchisors, The Cleaning Authority and Homewatch CareGivers. Together, these brands provide recurring home services through more than 300 franchise locations in the U.S., Canada, and Latin America. Authority Brands was formed in 2017 and is based in Columbia, Maryland.

Sell -