M&A Deal Summary

GreyLion Acquires Delphon

On January 11, 2018, growth capital firm GreyLion acquired manufacturer Delphon from Fulham, Farol Asset Management and Brooke Private Equity Advisors

Acquisition Highlights
  • This is GreyLion’s 1st transaction in the Manufacturing sector.
  • This is GreyLion’s 11th transaction in the United States.
  • This is GreyLion’s 5th transaction in California.

M&A Deal Summary
Date 2018-01-11
Target Delphon
Sector Manufacturing
Buyer(s) GreyLion
Sellers(s) Fulham
Farol Asset Management
Brooke Private Equity Advisors
Deal Type Secondary Buyout
Advisor(s) Lincoln International (Financial)

Target

Delphon

Hayward, California, United States
Delphon is a provider of materials and services for the shipping, processing and packaging of high-value semiconductor, medical, photonics, telecommunications and military markets. The Company’s material scientists and R&D engineers work collaboratively with their customers to develop customized materials. Delphon was founded in 2004 and is headquartered in Hayward, California, and has additional manufacturing operations in Wilsonville, Oregon.

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Buyer(S) 1

Buyer

GreyLion

Investor Investor Investor Investor Investor

Category Growth Capital Firm
Founded 2012
PE ASSETS 1.9B USD
Size Large
Type Sector Agnostic
DESCRIPTION

GreyLion is a private equity investment group, that primarily seeks opportunities throughout the US. Broad areas of interest include industrials, services, and consumer. The Firm looks to commit $25 to $125 million through a variety of transaction types, including buyouts, recapitalizations, divestitures, and growth capital financings. GreyLion was formed in 2012 and is headquartered in New York City.

DEAL STATS #
Overall 11 of 21
Sector (Manufacturing) 1 of 1
Type (Secondary Buyout) 2 of 4
State (California) 5 of 8
Country (United States) 11 of 19
Year (2018) 1 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-09-18 Luna Grill

San Diego, California, United States

Luna Grill is a fast growing restaurant chain that provides authentic Mediterranean cuisine such as signature kabob plates, gourmet salads, appetizers including hummus and falafel, wraps, desserts, craft beer and wine in a contemporary setting. Its food, marinade and sauce offerings are crafted with care daily from scratch and meals are made fresh to order and served to the table with genuine cutlery and tableware. Luna Grill was founded in 2004 and is based in San Diego, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-02-10 BuildASign.com

Austin, Texas, United States

BuildASign is an online provider of canvas wall décor, signage and other large format products. The Company's focus is making it easy and affordable for people to share their message or tell their story with custom and personalized products. BuildASign was formed in 2005 and is based in Austin, Texas.

Buy -

Seller(S) 3

SELLER

Fulham

Wellesley, Massachusetts, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1984
PE ASSETS 280M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Fulham & Co. is a private investment firm that targets investments in companies in which ownership wants to reduce their investment stake. Fulham looks for businesses with strong brands or highly engineered products. Target companies typically have EBITDA of $2 to $8 million. Fulham & Co. was originally formed in 1917 and has been investing in companies since 1984. Fulham is based in Wellesley, Massachusetts.

DEAL STATS #
Overall 6 of 8
Sector (Manufacturing) 2 of 2
Type (Secondary Buyout) 2 of 2
State (California) 1 of 1
Country (United States) 6 of 8
Year (2018) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-03-16 PowerTech Generators

Leesburg, Florida, United States

PowerTech Generators is a manufacturer of customized mobile generator sets. Power Tech engineers and assembles generator components to meet individual customer needs for generators typically providing output between 10 and 50 kilowatts. End markets for Power Tech’s products include mobile communications, service trucks, emergency vehicles, and military vehicles, among others. Power Tech sells domestically and internationally both directly to vehicle manufacturers and through distributors. PowerTech Generators was founded in 1989 and is based in Leesburg, Florida.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-01-01 CinchSeal

Cherry Hill, New Jersey, United States

CinchSeal is a designer and manufacturer of rotary shaft seals for screw conveyors, ribbon blenders, and other industrial mixing and blending equipment. The Company provides sealing solutions for food processing, lithium-ion battery production, chemical production, pulp & paper processing, and bulk material handling. CinchSeal is based in Cherry Hill, New Jersey.

Buy -
SELLER

Farol Asset Management

Investor Investor Investor

Category Private Equity Firm
Founded 2011
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Farol Asset Management is a private equity firm that looks to match institutional investors with direct investment opportunities. The Firm seeks to commit $5 to $30 million per transaction to support a variety of transaction situations and typically works with opportunities brought to it by private equity firms, fund-less sponsors, entrepreneurs and operating executives. Farol Asset Management was formed in 2011 and is headquartered in New York City.

DEAL STATS #
Overall 2 of 7
Sector (Manufacturing) 1 of 2
Type (Secondary Buyout) 1 of 2
State (California) 1 of 3
Country (United States) 1 of 6
Year (2018) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-07-31 SFE

Scottsdale, Arizona, United States

SFE is a provider of outsourced food services for K- 12 public schools. SFC is dedicated to providing high quality, nutritious foods to students and school districts, and providing the highest quality customer service. SFE serves over 100 school districts in 11 states. SFE was founded in 2004 and based in Scottsdale, Arizona.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-03-14 Airxcel

Wichita, Kansas, United States

Airxcel is a designer, manufacturer, and marketer of climate control systems for a variety of specialty end markets including recreational vehicles, telecommunication enclosures, and commercial/industrial applications. The company employees find opportunities to express creativity and innovation, enhance education and be productive team members in a supportive work environment. It conducts its business with respect and regard for its employees, customers, suppliers, financial partners, and communities in which it operates. Airxcel was formed in 1991 and is based in Wichita, Kansas.

Sell -
SELLER

Brooke Private Equity Advisors

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2002
PE ASSETS 570M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Brooke Private Equity Advisors (BPEA) is a private investment firm focused on fund and direct investment opportunities. The Firm's fund group looks to invest in small to middle-market growth funds with sector focused and experienced managers. BPEA's direct investment group invests in direct investment opportunities in private companies alongside small to middle-market buyout and growth funds, and sponsors. Sectors of interest for both strategies include business services, software, healthcare, consumer, retail, and industrial. BPEA was formed in 2002 and is headquartered in Boston, Massachusetts.

DEAL STATS #
Overall 1 of 2
Sector (Manufacturing) 1 of 1
Type (Secondary Buyout) 1 of 2
State (California) 1 of 1
Country (United States) 1 of 2
Year (2018) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-01-11 RailPros

Irving, Texas, United States

RailPros is a provider of outsourced safety management, design & engineering, inspection, site & program management, utility observation, and training services to rail operators, utilities, state DOTs and contractors working adjacent to rail infrastructure. RailPros has over 700 professionals across 14 offices and serves customers nationwide. RailPros was founded in 2000 and is based in Irving, Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-08-04 RailPros

Irving, Texas, United States

RailPros is a provider of outsourced safety management, design & engineering, inspection, site & program management, utility observation, and training services to rail operators, utilities, state DOTs and contractors working adjacent to rail infrastructure. RailPros has over 700 professionals across 14 offices and serves customers nationwide. RailPros was founded in 2000 and is based in Irving, Texas.

Sell -
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