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M&A Deal Summary

Gryphon Investors Acquires Heritage Distribution

On July 1, 2021, private equity firm Gryphon Investors acquired distribution company Heritage Distribution

Acquisition Highlights
  • This is Gryphon Investors’ 2nd transaction in the Distribution sector.
  • This is Gryphon Investors’ 61st transaction in the United States.
  • This is Gryphon Investors’ 1st transaction in Alabama.
Investment Fate
  • Heritage Distribution was sold to a publicly-traded strategic buyer in 2022.

M&A Deal Summary
Date 2021-07-01
Target Heritage Distribution
Sector Distribution
Buyer(s) Gryphon Investors
Deal Type Buyout (LBO, MBO, MBI)

Target

Heritage Distribution

Birmingham, Alabama, United States
Heritage Distribution is a distributor of heating, ventilating, air conditioning, and refrigeration (HVAC/R) parts, equipment, and supplies to HVAC/R contractors in the Southeastern and Midwestern US. Heritage Distribution is based in Birmingham, Alabama.

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Buyer(S) 1

Buyer

Gryphon Investors

San Francisco, California, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1995
PE ASSETS 9.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Gryphon Investors is a private equity firm focused on making $50 to $500 million of equity or equity-linked investments in middle-market companies. Target transaction situations include traditional buyouts, leveraged build-ups, and growth financings. Gryphon will consider both control and shared-control positions. Sectors of interest include business services, consumer, retail, automotive, chemicals, general manufacturing, healthcare, and hotels. Gryphon Investors was formed in 1995 and is based in San Francisco, California.

DEAL STATS #
Overall 62 of 76
Sector: Distribution M&A 2 of 3
Type: Buyout (LBO, MBO, MBI) M&A Deals 23 of 26
State: Alabama M&A 1 of 1
Country: United States M&A 61 of 75
Year: 2021 M&A 3 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-05-27 NewRocket

Vista, California, United States

NewRocket is a global provider of end-to-end strategic advisory and technical services for the ServiceNow ecosystem. As an Elite ServiceNow Partner, NewRocket’s key service offerings include: IT workflows, Customer Service workflows, HR & Employee workflows, SecOps, Governance, Risk & Compliance, Application Development, and Platform Integration. NewRocket is based in Vista, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-09-27 Ob Hospitalist Group

Greenville, South Carolina, United States

Ob Hospitalist Group is a provider of 24/7 obstetric coverage, serving approximately 200 hospitals across 34 states. OBHG’s national network of over 1,100 skilled and dedicated obstetric physicians provides critical care while improving patient safety and clinical outcomes. The Company’s specialized services benefit patients, physicians, payors, community OB/GYN groups, and hospitals, and supports long‐term growth for its partners. Ob Hospitalist Group was founded in 2006 and is based in Greenville, South Carolina.

Sell -
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