Secondary Buyout • Electrical Equipment

H.I.G. Private Equity Acquires Continental Battery Systems

On January 21, 2021, private equity firm H.I.G. Private Equity acquired electrical equipment company Continental Battery Systems from Incline Equity Partners

Acquisition Context
  • This is H.I.G. Private Equity’s 2nd transaction in the Electrical Equipment sector.
  • This is H.I.G. Private Equity’s 183rd transaction in the United States.
  • This is H.I.G. Private Equity’s 18th transaction in Texas.

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M&A Deal Summary

Date January 21, 2021
Target Continental Battery Systems
Sector Electrical Equipment
Buyer(s) H.I.G. Private Equity
Sellers(s) Incline Equity Partners
Deal Type Secondary Buyout
Advisor(s) Dentons (Legal)

Target Company

Continental Battery Systems

Dallas, Texas, United States
Continental Battery Systems is a distributor of aftermarket batteries to the electric utility vehicle (EUV), automotive, commercial, marine, and industrial markets. Continental Batteries operates more than 100 branches throughout North America. Continental Battery Systems was founded in 1932 and based in Dallas, Texas.
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Buyer Overview 1

Buyer

H.I.G. Private Equity

Miami, Florida, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1993
PE ASSETS 65.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

HIG Private Equity is the private equity arm of HIG Capital. The Firm focuses on management buyouts, growth equity investments, and recapitalizations of mid-sized to large companies valued between $50 million and $1 billion. HIG will also consider industry consolidations, going-privates, and corporate divestitures. Sectors of interest include aerospace, building materials, business services, consumer products, distribution, healthcare, infrastructure, contracting, manufacturing, media, oil & gas services, IT, and transportation. HIG was formed in 1993 is based in Miami, Florida.


Deal Context for Buyer #
Overall 276 of 385
Sector: Electrical Equipment 2 of 4
Type: Secondary Buyout 39 of 73
State: Texas 18 of 33
Country: United States 183 of 251
Year: 2021 3 of 34
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-01-08 ALTEO Alumina

Gardanne, France

ALTEO Alumina is a global integrated producer and supplier of specialty non-metallurgical grade alumina. ALTEO Alumina was founded in 1894 and is based in Gardanne, France.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-01-27 Sitetracker

Montclair, New Jersey, United States

Sitetracker is a cloud-based solution company that offers purpose-built and customizable project management workflows tailored for critical infrastructure industries such as telecom, utilities, and alternative energy. Sitetracker was founded in 2013 and is based in Montclair, New Jersey.

Buy -

Seller Profile 1

SELLER

Incline Equity Partners

Pittsburgh, Pennsylvania, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1982
PE ASSETS 5.8B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Incline Equity Partners is a private equity firm focused on lower middle-market growth companies. The Firm targets companies located in the US and Canada with enterprise values ranging from $25 to $750 million. Prospective transaction types include buyouts, minority recapitalizations, and corporate divestitures. Incline Equity Partners was formerly known as PNC Equity Partners. The Firm is based in Pittsburgh.


Deal Context for Seller #
Overall 31 of 43
Sector: Electrical Equipment 1 of 1
Type: Secondary Buyout 17 of 25
State: Texas 2 of 3
Country: United States 30 of 42
Year: 2021 2 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-01-12 BBG

Dallas, Texas, United States

BBG is a provider of commercial real estate appraisals, appraisal management services, environmental and property assessments, and related advisory services. BBG was founded in 1992 and is based in Dallas, Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-01-28 Hartland Controls

Rock Falls, Illinois, United States

Hartland Controls LLC is a provider of electrical system components to the heating, ventilation and air conditioning market, as well as other industrial end markets. Hartland Controls was founded in 2002 and is based in Rock Falls, Illinois.

Sell -