M&A Deal Summary

Greyrock Capital Group, Altus Capital Partners and Advantage Capital Partners Acquire Thomson Plastics

On April 1, 2005, mezzanine finance firm Greyrock Capital Group, private equity firm Altus Capital Partners and growth capital firm Advantage Capital Partners acquired plastics company Thomson Plastics for 31M USD

Acquisition Highlights
  • This is Greyrock Capital Group’s 1st, Altus Capital Partners’ 1st and Advantage Capital Partners’ 1st transaction in the Plastics sector.
  • This is Greyrock Capital Group’s 2nd, Altus Capital Partners’ 3rd and Advantage Capital Partners’ 3rd largest (disclosed) transaction.
  • This is Greyrock Capital Group’s 16th, Altus Capital Partners’ 2nd and Advantage Capital Partners’ 31st transaction in the United States.
  • This is Greyrock Capital Group’s 1st, Altus Capital Partners’ 1st and Advantage Capital Partners’ 3rd transaction in Georgia.

M&A Deal Summary

Date 2005-04-01
Target Thomson Plastics
Sector Plastics
Buyer(s) Greyrock Capital Group
Altus Capital Partners
Advantage Capital Partners
Deal Type Recapitalization
Deal Value 31M USD
Advisor(s) Kerlin Capital Group LLC (Financial)

Target

Thomson Plastics

Thomson, Georgia, United States
Thomson Plastics produces a broad array of customized engineered plastic components using standard and gas-assisted injection molding technology. Thomson Plastics was founded in 1975 and is based in Thomson, Georgia.

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Buyer(S) 3

Buyer

Greyrock Capital Group

Walnut Creek, California, United States

Investor Investor Investor Investor Investor


Category Mezzanine Finance Firm
Founded 2002
PE ASSETS 350M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Greyrock Capital Group provides mezzanine debt and equity capital to finance buyouts, recapitalizations and growth needs of middle market companies. Greyrock looks to invest between $8 and $40 million of equity and/or junior capital in companies with minimum revenues of $10 million and at least $2 million of EBITDA. Greyrock prefers companies in defensible markets with low cost structures. Greyrock Capital was formed in 2002 and has offices in San Francisco, California; Chicago, Illinois; and Westport, Connecticut.


DEAL STATS #
Overall 16 of 61
Sector (Plastics) 1 of 1
Type (Recapitalization) 5 of 9
State (Georgia) 1 of 3
Country (United States) 16 of 60
Year (2005) 3 of 4
Size (of disclosed) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2005-02-01 Bock & Clark

Akron, Ohio, United States

Bock & Clark Corp. is a provider of commercial real estate due diligence services. With offices in Ohio, Pennsylvania, Florida, Oklahoma, California, Colorado, and Rhode Island, Bock & Clark serves clients in all 50 states and Canada in the following capacities: ALTA land and title surveys, boundary surveys, topographic surveys, aerial survey zoning reports and letters, and environmental services. Bock & Clark employs experienced professionals to research and prepares each of these products resulting in due diligence efficiency.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2005-07-01 Mountain High Resorts

Wrightwood, California, United States

Mountain High resort is a winter resort in the San Gabriel Mountains in Los Angeles County in California.

Buy -
Buyer

Altus Capital Partners

Wilton, Connecticut, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2003
PE ASSETS 280M USD
Size Middle-Market
Type Sector Focused
DESCRIPTION

Altus Capital Partners is a private equity firm focused on acquiring and investing in medium sized North American-based manufacturing companies. Altus looks for businesses with EBITDA of at least $4 million and valued between $25 and $100 million. Typical transaction types include buyouts, recapitalizations, and divestitures. Alta Capital Partners was formed in 2003 and is based in Wilton, Connecticut.


DEAL STATS #
Overall 2 of 21
Sector (Plastics) 1 of 2
Type (Recapitalization) 1 of 1
State (Georgia) 1 of 2
Country (United States) 2 of 21
Year (2005) 1 of 1
Size (of disclosed) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2003-08-01 Mistras

Princeton Junction, New Jersey, United States

Mistras is a provider of technology-enabled asset protection solutions used to evaluate the structural integrity of critical energy, industrial and public infrastructure. Mission critical services and solutions are delivered globally and provide customers with asset life extension, improved productivity and profitability, compliance with government safety and environmental regulations, and enhanced risk management operational decisions. Mistras was founded in 1978 and is based in Princeton Junction, New Jersey.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2006-02-01 Aqua-Chem

Knoxville, Tennessee, United States

Aqua-Chem is a manufacturer of specialized water distillation, purification, desalinization, and filtration systems and provides associated aftermarket parts and services. Aqua-Chem was founded in 1929 and is based in Knoxville, Tennessee.

Buy -
Buyer

Advantage Capital Partners

New Orleans, Louisiana, United States

Investor Investor Investor Investor Investor


Category Growth Capital Firm
Founded 1992
PE ASSETS 2.6B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Advantage Capital Partners is a private equity firm focused on providing growth capital to a variety of companies. The Firm's geographic coverage includes Alabama, Colorado, Florida, Hawaii, Louisiana, Mississippi, Missouri, New York, Texas, Wisconsin and Washington DC. Advantage looks to initially commit $0.5 to $2 million per investment and can provide mezzanine debt in addition to equity capital. Areas of interest include communications, information technology, life science, and energy. Advantage Capital was formed in 1992 and is headquartered in New Orleans, Louisiana.


DEAL STATS #
Overall 31 of 272
Sector (Plastics) 1 of 5
Type (Recapitalization) 1 of 4
State (Georgia) 3 of 9
Country (United States) 31 of 270
Year (2005) 4 of 11
Size (of disclosed) 3 of 18
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2005-03-31 BBiTV

Honolulu, Hawaii, United States

BBiTV is an interactive television service provider that works in partnership with local cable operators to create interactive community TV channels. BBiTV was founded in 2001 and is based in Honolulu, Hawaii.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2005-04-29 Hoku

Honolulu, Hawaii, United States

Hoku Corp. is a developer of fuel cell membrane technology. The company's primary focus is a new membrane for use in Proton Exchange Membrane (PEM) fuel cells. The Hoku Membrane offers the potential for substantially better performance than today's leading technologies, while reducing product costs by as much as 90%. The company is also working on an alternative membrane design for use in direct methanol fuel cells, as well as a new design for a low operating temperature fuel cell.

Sell -