M&A Deal Summary

Gridiron Capital Acquires M&D Distributors

On September 1, 2022, private equity firm Gridiron Capital acquired distribution company M&D Distributors from Warren Equity Partners and Monroe Capital

Acquisition Highlights
  • This is Gridiron Capital’s 3rd transaction in the Distribution sector.
  • This is Gridiron Capital’s 39th transaction in the United States.
  • This is Gridiron Capital’s 2nd transaction in Texas.

M&A Deal Summary

Date 2022-09-01
Target M&D Distributors
Sector Distribution
Buyer(s) Gridiron Capital
Sellers(s) Warren Equity Partners
Monroe Capital
Deal Type Secondary Buyout
Advisor(s) Piper Sandler & Co. (Financial)
Akerman (Legal)

Target

M&D Distributors

Humble, Texas, United States
M&D Distributors is a distributor of aftermarket parts and components for maintaining and repairing diesel-powered engines within Texas, Oklahoma, and Louisiana. M&D Distributors’ product portfolio includes more than 100,000 new and remanufactured fuel injection, turbocharger, engine part, and filtration products from leading OEMs and aftermarket suppliers. M&D Distributors was founded in 1943 and is based in Humble, Texas.

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Buyer(S) 1

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 39 of 43
Sector: Distribution M&A 3 of 3
Type: Secondary Buyout M&A Deals 14 of 15
State: Texas M&A 2 of 2
Country: United States M&A 39 of 43
Year: 2022 M&A 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-09-01 Tokyo Joe s

Greenwood Village, Colorado, United States

Tokyo Joe’s is a fast casual modern Asian restaurant. The Tokyo Joe’s brand centers around health and personal well-being, where food has nutritional integrity in both the way it is prepared and also the ingredients being used. The Company offers a mix of signature and made-to-order rice and noodle bowls that integrate Tokyo Joe’s proprietary sauces and flavorings as well as signature salads and fresh sushi. Tokyo Joe's was founded in 1996 and is based in Greenwood Village, Colorado.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-01-05 Esquire Deposition Solutions

Atlanta, Georgia, United States

Esquire Deposition Solutions is a provider of remote and in-person deposition solutions, helps law firms, insurance companies, and corporate legal departments get it right every time. Esquire Deposition Solutions was founded in 1978 and is based in Atlanta, Georgia.

Buy -

Seller(S) 2

SELLER

Warren Equity Partners

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2015
PE ASSETS 4.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Warren Equity Partners is a private equity firm focused on small and medium-sized company investments. Warren Equity will consider profitable companies throughout North America and looks to invest $25 to $100 million per transaction. Sectors of interest include infrastructure, energy services, industrial, and building materials. Warren Equity Partners was formed in 2015 and is based in Jacksonville, Florida.


DEAL STATS #
Overall 5 of 7
Sector: Distribution M&A 1 of 1
Type: Secondary Buyout M&A Deals 5 of 6
State: Texas M&A 3 of 4
Country: United States M&A 5 of 7
Year: 2022 M&A 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-09-01 HB Next

Lawrenceville, Georgia, United States

HB Next provides tech-enabled inspection and compliance services that enable customers to manage regulatory (OSHA, EPA, DOT) and operational compliance more efficiently. HB Next offers solutions that include stormwater and utility field inspection services, safety consulting, and stormwater compliance software supporting general infrastructure and utility end markets. HB Next was founded in 1999 and is based in Lawrenceville, Georgia.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-01-19 kVP Energy Services

Benbrook, Texas, United States

kVP Energy Services is a specialized electrical construction and maintenance services company focused principally on the electrical transmission infrastructure and the oil and natural gas services industries. kVP Energy Services was founded in 2012 and is based in Benbrook, Texas.

Buy -
SELLER

Monroe Capital

Chicago, Illinois, United States

Investor Investor Investor Investor Investor


Category Lender
Founded 2004
PE ASSETS 14.1B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Monroe Capital is a provider of senior and junior debt and equity co-investments to middle-market companies in the US and Canada. Investment types include unitranche financings, cash flow and enterprise value based loans, asset based loans, acquisition facilities, mezzanine debt, second lien or last-out loans and equity co-investments. Monroe Capital is a generalist investor and will consider companies in the healthcare, technology, media, retail, consumer sectors. Monroe Capital was formed in 2004 and is based in Chicago, Illinois.


DEAL STATS #
Overall 49 of 55
Sector: Distribution M&A 1 of 1
Type: Secondary Buyout M&A Deals 13 of 13
State: Texas M&A 6 of 6
Country: United States M&A 49 of 54
Year: 2022 M&A 7 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-08-25 Curion

Deerfield, Illinois, United States

Curion is a data-driven consumer insights firm specializing in full-service qualitative, quantitative, and sensory research for brands. The company provides comprehensive insights on products and consumers for many prominent brands to help them develop and optimize products. Curion is based in Deerfield, Illinois.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-10-27 AutoCruitment

New York, New York, United States

AutoCruitment is a web-based technology platform that streamlines clinical trial recruitment by directly identifying, qualifying, and referring eligible patients. AutoCruitment was founded in 2014 and is based in New York, New York.

Buy -