M&A Deal Summary

Gridiron Capital and Constitution Capital Partners Acquire AML RightSource

On September 22, 2020, private equity firms Gridiron Capital and Constitution Capital Partners acquired business services company AML RightSource from Clarion Capital Partners

Acquisition Highlights
  • This is Gridiron Capital’s 6th and Constitution Capital Partners’ 4th transaction in the Business Services sector.
  • This is Gridiron Capital’s 31st and Constitution Capital Partners’ 54th transaction in the United States.
  • This is Gridiron Capital’s 5th and Constitution Capital Partners’ 2nd transaction in Ohio.

M&A Deal Summary

Date 2020-09-22
Target AML RightSource
Sector Business Services
Buyer(s) Gridiron Capital
Constitution Capital Partners
Sellers(s) Clarion Capital Partners
Deal Type Secondary Buyout
Advisor(s) Raymond James - Investment Banking (Financial)
Brownstein
Choate Hall & Stewart (Legal)

Target

AML RightSource

Cleveland, Ohio, United States
AML RightSource provides an end-to-end solution focused on Anti-Money Laundering (AML), Bank Secrecy Act (BSA), Financial Crime Advisory (FCA), tech-enabled onboarding/Know Your Customer (KYC) and expert managed services. AML RightSource was founded in 2004 and is based in Cleveland, Ohio.

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Buyer(S) 2

Buyer

Gridiron Capital

New Canaan, Connecticut, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2004
PE ASSETS 8.6B USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Gridiron Capital is a private equity firm focused on acquiring mid-sized North American manufacturing, service and specialty consumer companies. Gridiron looks to commit companies with EBITDA up to $60 million. The Firm prefers controlling interests when considering transactions. Situations of interest include companies operating in sectors undergoing change, closely held companies owned by founding family or management for ownership transition, and corporate divestitures of orphaned or non-strategic business units. Gridiron Capital was formed in 2004 and is based in New Canaan, Connecticut.


DEAL STATS #
Overall 31 of 43
Sector: Business Services M&A 6 of 10
Type: Secondary Buyout M&A Deals 10 of 15
State: Ohio M&A 5 of 6
Country: United States M&A 31 of 43
Year: 2020 M&A 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-01-06 Dent Wizard International

Bridgeton, Missouri, United States

Dent Wizard is the provider of automotive reconditioning services and related products. Dent Wizard International was founded in 1983 and is based in Bridgeton, Missouri.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-10-06 Cubii

Chicago, Illinois, United States

Cubii is a manufacturer of fitness equipment and approachable wellness solutions. Cubii help people create and maintain healthy habits by providing innovative, effective, and accessible fitness solutions that fit easily into everyday life. Cubii is based in Chicago, Illinois.

Buy -
Buyer
DESCRIPTION

Constitution Capital Partners is a private equity and asset management firm focused on opportunities throughout North America. Constitution Capital typically invests in private equity partnerships, however the Firm also makes direct private equity and credit investments. Constitution Capital Partners does not have any sector preferences. Constitution Capital Partners was formed in 2008 and is headquartered in Andover, Massachusetts.


DEAL STATS #
Overall 58 of 89
Sector: Business Services M&A 4 of 11
Type: Secondary Buyout M&A Deals 20 of 40
State: Ohio M&A 2 of 3
Country: United States M&A 54 of 83
Year: 2020 M&A 3 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-06-10 Vroom

Fort Worth, Texas, United States

Vroom is an online car store in the US that helps customers save time, hassle and money by bringing all three aspects of the car buying process – buying, financing and selling – online in an easy, transparent and affordable way. Vroom offers thousands of high quality, refurbished, pre-owned vehicles with free delivery to customers’ doors across the US. Vroom was founded in 2012 and is based in New York, New York.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-10-19 Woodstream

Lancaster, Pennsylvania, United States

Woodstream is a manufacturer and marketer of a broad portfolio of branded pest control and lawn & garden products, under brands such as Victor, Terro, Perky-Pet, Havahart, Safer, Sweeney’s and Mosquito Magnet, among others. Woodstream was founded in 1832 and is based in Lancaster, Pennsylvania.

Buy -

Seller(S) 1

SELLER

Clarion Capital Partners

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1999
Size Small
Type Sector Agnostic
DESCRIPTION

Clarion Capital Partners is a private equity investment firm that invests in middle-market, growth-oriented companies with and an enterprise value of $50 to $200 million and EBITDA greater than $7.5 million. Target industries include consumer products, business and healthcare services, specialty financial services, specialty retail, and niche media/entertainment. Clarion seeks companies requiring an equity investment of $15 to $75 million in a broad range of investment structures including: growth equity, recapitalizations, and leveraged buyouts. Clarion Capital was formed in 1999 and is based in New York City.


DEAL STATS #
Overall 12 of 16
Sector: Business Services M&A 2 of 2
Type: Secondary Buyout M&A Deals 2 of 4
State: Ohio M&A 1 of 1
Country: United States M&A 11 of 15
Year: 2020 M&A 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-10-15 Harris & Harris

Chicago, Illinois, United States

Harris & Harris is an account receivable management and customer care firm, providing first-party and third-party debt collection, third party liability, and other complementary services through advanced onshore call-centers. Harris & Harris was founded in 1968 and is based in Chicago, Illinois.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-10-19 Lenox

Bristol, Pennsylvania, United States

Lenox is a provider of high-quality tabletop, giftware, and collectible products sold under the Lenox brand as well as the Dansk, Gorham, and Department 56 brand names. Lenox was founded in 1889 and is based in Bristol, Pennsylvania.

Sell -