M&A Deal Summary

Gladstone Investment Acquires PSI Molded Plastics

On August 4, 2015, business development company Gladstone Investment acquired plastics company PSI Molded Plastics from Wincove Private Holdings and Spring Capital Partners

Acquisition Highlights
  • This is Gladstone Investment’s 2nd transaction in the Plastics sector.
  • This is Gladstone Investment’s 12th transaction in the United States.
  • This is Gladstone Investment’s 1st transaction in New Hampshire.

M&A Deal Summary
Date 2015-08-04
Target PSI Molded Plastics
Sector Plastics
Buyer(s) Gladstone Investment
Sellers(s) Wincove Private Holdings
Spring Capital Partners
Deal Type Secondary Buyout
Advisor(s) Janney Montgomery Scott LLC (Financial)
Choate Hall & Stewart (Legal)

Target

PSI Molded Plastics

Wolfeboro, New Hampshire, United States
PSI Molded Plastics is a manufacturer of medium to large, customized and highly aesthetic plastic injection molded products utilizing structural foam, gas assist, and straight injection processes. PSI Molded Plastics is based in Wolfeboro, New Hamphire.

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Buyer(S) 1

Buyer

Gladstone Investment

Investor Investor Investor Investor Investor

Category Business Development Company
Founded 2005
Size Small
Type Sector Agnostic
DESCRIPTION

DEAL STATS #
Overall 12 of 25
Sector (Plastics) 2 of 2
Type (Secondary Buyout) 1 of 2
State (New Hampshire) 1 of 2
Country (United States) 12 of 25
Year (2015) 4 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-05-26 Brunswick

Muskegon, Michigan, United States

Brunswick is a designer, manufacturer, and marketer of bowling equipment and accessories. Brunswick was founded in 1845 and is based in Muskegon, Michigan.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-05-09 The Mountain

Keene, New Hampshire, United States

The Mountain is a designer and manufacturer of premium quality, bold artwear apparel serving a diverse global customer base. The Company pioneered a unique mottled dye technique and proprietary screen printing process to build an expansive portfolio of exclusive artwear designs. The Mountain was founded in 1998 and is based in Keene, New Hampshire.

Buy -

Seller(S) 2

SELLER

Wincove Private Holdings

New York, New York, United States

Investor Investor

Category Private Equity Firm
Founded 2008
Size Small
Type Sector Agnostic
DESCRIPTION

Wincove Private Holdings is an independent private equity firm that invests in smaller, profitable companies in partnership with management. Wincove looks to support family and/or seller succession transactions, recapitalizations, management buyouts, consolidations, and corporate divestitures. Wincove is a generalist firm, and will consider opportunities in a variety of industries. The Firm targets companies located in the US and Canada. Prospective companies typically have less then $50 million in revenue. Wincove Private Holdings was formed in 2008 and is based in New York City.

DEAL STATS #
Overall 4 of 10
Sector (Plastics) 1 of 1
Type (Secondary Buyout) 2 of 5
State (New Hampshire) 1 of 1
Country (United States) 4 of 10
Year (2015) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-04-01 Connect-Air International

Auburn, Washington, United States

Connect-Air International, Inc. is a distributor of specialty low-voltage wire and cable products in the United States. Connect-Air International also designs and distributes cable assemblies, primary focus is on control and signal wires and related devices that are used in HVAC, security and fire alarm systems (both retrofits and new systems).

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-04-22 Adaptec Solutions

Rochester, New York, United States

Adaptec Solutions is a designer, integrator, and value-added distributor of material handling and automation solutions for the grocery, food & beverage, industrial, personal care, and automotive markets. Adaptec Solutions was founded in 1977 and is based in Rochester, New York.

Buy -
SELLER

Spring Capital Partners

Lutherville, Maryland, United States

Investor Investor

Category Mezzanine Finance Firm
Founded 1999
PE ASSETS 600M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Spring Capital Partners is a mezzanine finance provider for small to medium-sized businesses. Spring invests $2 to $20 million, primarily in the form of subordinated debt with equity features in each transaction. The Firm does not have an industry focus. Spring Capital looks for businesses located in the Mid-Atlantic US with revenues between $10 and $150 million. Spring Capital Partners was formed in 1999 and has offices in Baltimore, Maryland and Radnor, Pennsylvania.

DEAL STATS #
Overall 15 of 25
Sector (Plastics) 1 of 1
Type (Secondary Buyout) 3 of 5
State (New Hampshire) 1 of 1
Country (United States) 15 of 25
Year (2015) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-01-15 NextPhase Medical Devices

Waldwick, New Jersey, United States

NextPhase Medical Devices is specialized in design, development and a manufacturing partner that helps OEMs bring low- to medium-volume complex medical devices. NextPhase Medical Devices was founded in 1999 and is based in Waldwick, New Jersey.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-08-21 Haverfield Aviation

Gettysburg, Pennsylvania, United States

Haverfield Aviation, Inc. is a provider of outsourced aerial transmission inspection, maintenance, repair, upgrade, replacement, and construction support services to the North American electric utility industry. Haverfield Aviation was established in 1981 and is based in Gettysburg, Pennsylvania.

Buy -
Mergr

Product

Company

Legal