M&A Deal Summary

Graycliff Partners and HCI Equity Partners Acquire Echelon Supply and Service

On December 1, 2018, private equity firms Graycliff Partners and HCI Equity Partners acquired manufacturer Echelon Supply and Service

Acquisition Highlights
  • This is Graycliff Partners’ 5th and HCI Equity Partners’ 2nd transaction in the Manufacturing sector.
  • This is Graycliff Partners’ 39th and HCI Equity Partners’ 35th transaction in the United States.
  • This is Graycliff Partners’ 7th and HCI Equity Partners’ 3rd transaction in New York.

M&A Deal Summary

Date 2018-12-01
Target Echelon Supply and Service
Sector Manufacturing
Buyer(s) Graycliff Partners
HCI Equity Partners
Deal Type Buyout (LBO, MBO, MBI)

Target

Echelon Supply and Service

Liverpool, New York, United States
Echelon Supply and Service is an assembler and supplier of industrial and hydraulic hose and hose accessories, as well as a variety of other industrial products. Echelon’s products are used in a variety of end-markets, including oil and gas, agriculture, mining, construction, marine, chemical, food, commercial and government. Echelon Supply and Service was founded in 1976 and is based in Liverpool, New York.

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Buyer(S) 2

Buyer

Graycliff Partners

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1991
PE ASSETS 1.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Graycliff Partners is a private equity firm focused on private equity and mezzanine investments in middle-market companies throughout the US. The Firm's mezzanine practice does not have any sector preferences and looks to invest $10 to $50 million in profitable companies with at least $10 million in revenue. Funds are used to support buyouts, growth needs, divestitures, or consolidations. Graycliff's private equity group looks to acquire middle-market companies in the manufacturing, service, and distribution sectors. The Firm looks for businesses with $10 to $200 million of revenue. Graycliff Partners was established in 1991 and is based in New York City.


DEAL STATS #
Overall 44 of 72
Sector (Manufacturing) 5 of 8
Type (Buyout (LBO, MBO, MBI)) 16 of 26
State (New York) 7 of 8
Country (United States) 39 of 67
Year (2018) 5 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-11-13 Impakt Holdings

Santa Clara, California, United States

Impakt Holdings LLC is a manufacturer and integrator of machined components and systems to the flat panel display equipment, semiconductor equipment, and general industrial end-markets. Impakt Holdings is based in Santa Clara, California.

Sell $329M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-03-26 Harmon Hall

Mexico City, Mexico

Harmon Hall is a provider of english language school chain. Harmon Hall Holding is based in Mexico City.

Sell -
Buyer

HCI Equity Partners

Washington, District of Columbia, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
PE ASSETS 1.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

HCI Equity Partners is a private equity group that targets lower middle-market industrial product and service companies throughout North America. HCI is a 'hands on' investor, looking to assist portfolio companies with growth strategies and improving profitability. The Firm seeks opportunities with $20 to $200 million in revenues and strong management in place. Specific areas of interest include aerospace/defense, automotive and commercial vehicle suppliers, industrial distribution, infrastructure, power generation, test/measurement equipment, and transportation. HCI Equity Partners (fka Thayer | Hidden Creek Partners) is based in Washington DC.


DEAL STATS #
Overall 37 of 46
Sector (Manufacturing) 2 of 2
Type (Buyout (LBO, MBO, MBI)) 21 of 24
State (New York) 3 of 3
Country (United States) 35 of 44
Year (2018) 5 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-11-01 WF Cabinetry

Alexander City, Alabama, United States

WF Cabinetry is a designer and manufacturer of semi-custom cabinets serving the single-family residential market exclusively through the dealer channel. Wellborn provides kitchen and bathroom cabinetry to the new construction and remodeling markets directly through independent sales agencies to a large network of kitchen and bath dealers. WF Cabinetry is based in Alexander City, Alabama.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-02-08 Quadel

Indianapolis, Indiana, United States

Quadel is a provider of outsourced program management, contract administration, disaster recovery, and housing services consulting, and training and educational services. These services are provided to and on behalf of various federal, local, and state agencies. Quadel was founded in 1975 and is based in Indianapolis, Indiana.

Sell -