M&A Deal Summary

Greenstar Acquires Mid America Recycling

On October 4, 2007, Greenstar acquired environmental company Mid America Recycling from The Edgewater Funds and Bolder Capital

Acquisition Highlights
  • This is Greenstar’s 1st transaction in the Environmental sector.
  • This is Greenstar’s 1st transaction in the United States.
  • This is Greenstar’s 1st transaction in Iowa.

M&A Deal Summary
Date 2007-10-04
Target Mid America Recycling
Sector Environmental
Buyer(s) Greenstar
Sellers(s) The Edgewater Funds
Bolder Capital
Deal Type Add-on Acquisition

Target

Mid America Recycling

Des Moines, Iowa, United States
Mid-America Recycling, Inc. (MAR) is a provider in creating and implementing cost-effective, quality-driven recycling programs for recyclers, waste haulers, landfills, municipalities for the recycling of paper and paper-based, aluminum, glass, plastic and other recyclable material.

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Buyer(S) 1

Buyer

Greenstar

Houston, Texas, United States
Category Company
Founded 2007
Sector Environmental
DESCRIPTION

The Greenstar team is comprised of highly successful recycling entrepreneurs and industry veterans who have joined Greenstar to build a new way for recycling in North America.

DEAL STATS #
Overall 1 of 1
Sector (Environmental) 1 of 1
Type (Add-on Acquisition) 1 of 1
State (Iowa) 1 of 1
Country (United States) 1 of 1
Year (2007) 1 of 1

Seller(S) 2

SELLER

The Edgewater Funds

Chicago, Illinois, United States
Category Private Equity Firm
Founded 1991
PE ASSETS 2.8B USD
Size Large
Type Sector Agnostic
DESCRIPTION

The Edgewater Funds is a private equity firm that targets investments in profitable, middle-market growth companies. Target companies typically have revenues of $20 to $500 million in revenue and EBITDA of $5 to $30 million. The Firm will consider minority and control investments in the form of growth capital financings and traditional buyouts. Edgewater looks for North American businesses operating in a variety of industries. Sectors of interest include business services; financial and government services; consumer products and services; healthcare; IT services and software; and industrial/manufacturing. Edgewater was formed in 1991 and is based in Chicago, Illinois.

DEAL STATS #
Overall 5 of 42
Sector (Environmental) 1 of 2
Type (Add-on Acquisition) 3 of 19
State (Iowa) 1 of 2
Country (United States) 5 of 41
Year (2007) 2 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-08-07 AMF

Mechanicsville, Virginia, United States

AMF Bowling is a bowling brand and company. AMF Bowling operates approximately 370 bowling centers worldwide and is a bowling products manufacturer and distributor. AMF's product line consists of bowling pins, automatic pin-spotters, synthetic lanes, other bowling products and billiards tables.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-11-01 BarrierSafe Solutions International

Lake Forest, Illinois, United States

BarrierSafe Solutions International, Inc. is a provider of barrier protection and infection control products. BarrierSafe owns the FoodHandler and Microflex brands and primarily sells disposable gloves to non-acute markets including foodservice, dental, laboratory, industrial and automotive.

Buy -
SELLER

Bolder Capital

Lakewood, Colorado, United States
Category Private Equity Firm
Founded 2004
Size Small
Type Sector Agnostic
DESCRIPTION

Bolder Capital is a private equity group that invests in lower middle-market manufacturing and service oriented businesses. The Group pursues companies operating in growth markets with proprietary products or technologies. Target businesses have at least $2 million of EBITDA with an enterprise value of minimum $500 million. Funds are generally used to support acquisitions/buyouts, recapitalizations and selective growth equity opportunities. Bolder Capital was formed in 2004 and is based in Chicago.

DEAL STATS #
Overall 2 of 12
Sector (Environmental) 1 of 1
Type (Add-on Acquisition) 1 of 4
State (Iowa) 1 of 1
Country (United States) 2 of 12
Year (2007) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-06-05 Accutest Laboratories

Dayton, New Jersey, United States

Accutest Laboratories, Inc. is a full service, independent testing laboratory that provides a complete range of water, soil and air testing services to industrial, engineering/consulting and governmental clients throughout the United States. Accutest Laboratories was founded in 1956 and is based in Dayton, New Jersey.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-12-05 Horsburgh & Scott

Cleveland, Ohio, United States

Horsburgh & Scott (H&S) is a manufacturer of large diameter industrial gears and custom mechanical gear drives. H&S provides specialized services including heat treatment, technical solutions and on-site customer service. Horsburgh & Scott is based in Cleveland, Ohio.

Buy -
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