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  6. Graycliff Partners Acquires Williams AV

M&A Deal Summary

Graycliff Partners Acquires Williams AV

On March 17, 2016, private equity firm Graycliff Partners acquired technology hardware company Williams AV from Cardinal Equity Partners

Acquisition Highlights
  • This is Graycliff Partners’ 1st transaction in the Technology Hardware sector.
  • This is Graycliff Partners’ 27th transaction in the United States.
  • This is Graycliff Partners’ 2nd transaction in Minnesota.

M&A Deal Summary
Date 2016-03-17
Target Williams AV
Sector Technology Hardware
Buyer(s) Graycliff Partners
Sellers(s) Cardinal Equity Partners
Deal Type Recapitalization

Target

Williams AV

Eden Prairie, Minnesota, United States
Williams AV is a designer, manufacturer, and marketer of professional wireless communication systems that are used to deliver sound and improve the hearing and communication ability of individuals in a variety of group or gathering situations. The company’s products are designed for those with hearing impairment in public assembly spaces as well as for all listeners in language interpretation and tours. Williams AV was founded in 1976 and is based in Eden Prairie, Minnesota.

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Buyer(S) 1

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 32 of 79
Sector: Technology Hardware M&A 1 of 1
Type: Recapitalization M&A Deals 5 of 10
State: Minnesota M&A 2 of 3
Country: United States M&A 27 of 74
Year: 2016 M&A 1 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-11-06 Alpha Imaging

Willoughby, Ohio, United States

Alpha Imaging is a distributor and service partner for major OEMs, delivering value-added sale processing, distribution, installation, and service support to over 1,100 healthcare facilities throughout the Midwest, Mid-Atlantic, and Southeast. Alpha Imaging was formed in 1986 and is based in Willoughby, Ohio.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-05-06 Moss

Franklin Park, Illinois, United States

Moss provides three-dimensional marketing solutions to customers across retail, exhibits, events, sports, and commercial markets. The company’s products include tension fabric structures, specialty signage such as radiance lightboxes and non-fabric displays, and large-format imaging for wall coverings and portable displays. Moss was founded in 1975 and is based in Franklin Parke, Illinois.

Sell -

Seller(S) 1

SELLER

Cardinal Equity Partners

Indianapolis, Indiana, United States

Investor Investor Investor

Category Private Equity Firm
Founded 1993
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Cardinal Equity Partners is a privately owned partnership that targets investments in lower middle-market businesses headquartered in the central portion of the US. Cardinal looks for light manufacturing, distribution, or service businesses with $5 to $50 million in revenue and at least $1 million of EBITDA. Prospective transaction situations include management buyouts, recapitalizations, family successions, and corporate spin-offs. Cardinal prefers businesses with proven management, recurring revenue, and no major customer concentration issues. Cardinal will not invest in software, heavy manufacturing, automotive, consulting, or companies with a significant percentage of non-US sales. Cardinal Equity Partners was formed in 1993 and is based in Indianapolis, Indiana.

DEAL STATS #
Overall 8 of 17
Sector: Technology Hardware M&A 1 of 1
Type: Recapitalization M&A Deals 1 of 1
State: Minnesota M&A 1 of 2
Country: United States M&A 8 of 17
Year: 2016 M&A 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-09-15 Poly Wood

Syracuse, Indiana, United States

Poly Wood is a manufacturer of eco-friendly outdoor furniture and accessories, mostly made from HDPE recycled plastic lumber or aluminum. Poly Wood was founded in 1990 and is based in Syracuse, Indiana.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-05-18 Corporate Imaging Concepts

Northbrook, Illinois, United States

Corporate Imaging Concepts, Inc. provides branded promotional products and online company store portals for some of the country’s largest corporations. CIC’s game-changing LEIF technology solution leads the industry in customer satisfaction through supply chain efficiencies. The Company’s commitment to technology advancements, combined with a workforce dedicated to exceeding customer expectations, has resulted in steady double-digit growth along with industry recognition as a sales leader and one of the best places to work.

Sell -
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