M&A Deal Summary

Granite Partners and RockWood Equity Partners Acquire Dezurik

On December 31, 2004, private equity firms Granite Partners and RockWood Equity Partners acquired manufacturer Dezurik from SPX Technologies for 30M USD

Acquisition Highlights
  • This is Granite Partners’ 1st and RockWood Equity Partners’ 1st transaction in the Manufacturing sector.
  • This is Granite Partners’ and RockWood Equity Partners’ largest (disclosed) transaction.
  • This is Granite Partners’ 1st and RockWood Equity Partners’ 5th transaction in the United States.
  • This is Granite Partners’ 1st and RockWood Equity Partners’ 1st transaction in Minnesota.

M&A Deal Summary
Date 2004-12-31
Target Dezurik
Sector Manufacturing
Buyer(s) Granite Partners
RockWood Equity Partners
Sellers(s) SPX Technologies
Deal Type Divestiture
Deal Value 30M USD

Target

Dezurik

Sartell, Minnesota, United States
DeZurik is a designer and manufacturer of municipal water and wastewater flow control valves. Founded in 1925, DeZurik has been engaged in the development, manufacture, and sale of niche flow control valves. DeZurik’s engineers have continually developed a wide range of innovative products focused on providing solutions for customers in the water and wastewater treatment industries. Dezurik was founded in 1925 and is based in Sartell, Minnesota.

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Buyer(S) 2

Buyer

Granite Partners

St. Cloud, Minnesota, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2002
Size Small
Type Sector Agnostic
DESCRIPTION

Granite Equity Partners is a private equity firm that invests in established companies headquartered in the upper Midwest, with a preference for Minnesota based opportunities. Granite looks for businesses in a wide range of industries and targets management buyouts, recapitalizations, and growth capital financing transactions. Prospective companies generally have revenues between $10 to $100 million and EBITDA between $1 to $5 million. Granite Equity Partners was formed in 2002 and is based in St. Cloud, Minnesota with additional office in Northfield, Minnesota.

DEAL STATS #
Overall 1 of 13
Sector (Manufacturing) 1 of 2
Type (Divestiture) 1 of 1
State (Minnesota) 1 of 11
Country (United States) 1 of 13
Year (2004) 1 of 1
Size (of disclosed) 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2006-10-01 Asset Recovery

St. Paul, Minnesota, United States

Asset Recovery is a provider of end-of-life solutions for computer and electronic equipment for businesses and individuals.

Buy -
Buyer

RockWood Equity Partners

Shaker Heights, Ohio, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1999
Size Small
Type Sector Agnostic
DESCRIPTION

RockWood Equity Partners is a private equity firm looking to acquire profitable lower-middle market North American companies generating sales of $10 to $75 million and EBITDA of $2 to $7 million. Target transaction types include management buyouts, recapitalizations, growth equity financings, and divestitures. Sectors of interest include aerospace, defense, healthcare, industrials/industrial technology, and business services. RockWood Equity Partners was formed in 1999 and is based in Cleveland, Ohio.

DEAL STATS #
Overall 7 of 26
Sector (Manufacturing) 1 of 4
Type (Divestiture) 2 of 4
State (Minnesota) 1 of 3
Country (United States) 5 of 24
Year (2004) 5 of 5
Size (of disclosed) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2004-12-10 Staircase & Millwork

Alpharetta, Georgia, United States

Staircase & Millwork was founded in Alpharetta, Georgia in 1986 as a distributor of stair parts. Through dedication to the customer, reinvestment in the company for growth and a great group of employees, the company has grown significantly since those early days. In 2006 Staircase & Millwork acquired by Artistic Stairs.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2005-07-01 Flame Control Coatings

Niagara Falls, New York, United States

Flame Control Coatings is a developer and producer of fire retardant and heat resistant coatings. Flame Control Coatings LLC products include paints, varnishes, and mastics in a wide selection of colors and finishes.

Buy -

Seller(S) 1

SELLER

SPX Technologies

Charlotte, North Carolina, United States
Category Company
Founded 1912
Sector Machinery
Employees4,100
Revenue 1.7B USD (2023)
DESCRIPTION
Entrance to SPX's corporate headquarters in Charlotte, North Carolina.
Entrance to SPX's corporate headquarters in Charlotte, North Carolina.

SPX Technologies is a global supplier of highly specialized, engineered solutions for the energy and food/beverage industries. Key products include processing systems and components for the food and beverage industry, pumps, valves and filtration equipment used in oil and gas processing, power transformers used by utility companies, and cooling systems for power generation plants and HVAC applications. SPX Technologies was founded in 1912 and is based in Charlotte, North Carolina.

DEAL STATS #
Overall 9 of 23
Sector (Manufacturing) 4 of 7
Type (Divestiture) 9 of 23
State (Minnesota) 2 of 2
Country (United States) 8 of 17
Year (2004) 3 of 3
Size (of disclosed) 9 of 10
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2004-11-15 Edwards Systems Technology

Cheshire, Connecticut, United States

Edwards Systems Technology is a provider of fire detection systems within buildings.

Sell $1.4B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2005-01-03 Cofimco SRL

Pombia, Italy

Cofimco is a designer and manufacturer of highly engineered aluminum and fiberglass axial fans for sophisticated and demanding cooling tower, evaporative condenser and air-cooled condenser fan applications.

Sell $28M
Mergr

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