M&A Deal Summary

Harbour Group, American Capital and Sentinel Capital Partners Acquire Alemite

On June 14, 2002, asset manager Harbour Group, private equity firm American Capital and private equity firm Sentinel Capital Partners acquired machinery company Alemite from Invensys for 39M USD

Acquisition Highlights
  • This is Harbour Group’s 5th, American Capital’s 6th and Sentinel Capital Partners’ 1st transaction in the Machinery sector.
  • This is Harbour Group’s , American Capital’s 36th and Sentinel Capital Partners’ 11th largest (disclosed) transaction.
  • This is Harbour Group’s 9th, American Capital’s 60th and Sentinel Capital Partners’ 14th transaction in the United States.
  • This is Harbour Group’s 1st, American Capital’s 1st and Sentinel Capital Partners’ 2nd transaction in Missouri.
Investment Fate
  • Alemite was sold to a strategic buyer in 2006.

M&A Deal Summary
Date 2002-06-14
Target Alemite
Sector Machinery
Buyer(s) Harbour Group
American Capital
Sentinel Capital Partners
Sellers(s) Invensys
Deal Type Divestiture
Deal Value 39M USD

Target

Alemite

St. Louis, Missouri, United States
Alemite LLC is a designer, manufacturer and marketer of industrial lubrication equipment and components.

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Buyer(S) 3

Buyer

Harbour Group

St. Louis, Missouri, United States

Investor Investor Investor Investor Investor

Category Asset Manager
Founded 1976
Size Large
Type Sector Agnostic
DESCRIPTION

Harbour Group is a private investment firm that seeks to invest in companies within the sectors of manufacturing and distribution. The firm pursues companies with EBITDA between $4 million and $50 million, and revenue between $50 million and $100 million. In addition, the firm looks for investments within North America and around the world with enterprise value between $30 million and $500 million. Harbour Group was formed in 1976 and is based in St. Louis, Missouri.

DEAL STATS #
Overall 9 of 38
Sector (Machinery) 5 of 7
Type (Divestiture) 1 of 2
State (Missouri) 1 of 2
Country (United States) 9 of 38
Year (2002) 2 of 4
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2002-02-25 Eckler s Corvette

Titusville, Florida, United States

Eckler's Corvette, Inc. is a supplier of parts and accessories to the Corvette and Classic Chevy enthusiast market. Eckler was formed in 1961 and is based in Titusville, Florida.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2002-09-04 Auto Meter Products

Sycamore, Illinois, United States

Auto Meter Products is a developer and manufacturer of aftermarket automotive gauges as well as battery test and charging equipment. Auto Meter Products operates out of a 93,000 square foot facility in Sycamore, Illinois and distributes its products to over 600 active customers within the specialty warehouse distributor, retailer, and OEM channels. Auto Meter Products was founded in 1957 and is based in Sycamore, Illinois.

Buy -
Buyer

American Capital

Category Private Equity Firm
Founded 1997
PE ASSETS 22.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

American Capital was a publicly traded buyout and mezzanine investment firm. American Capital invested in buyouts, growth capital financings, acquistion financings, and recapitalizations. The Firm looked to finance businesses with at least $4 million in EBITDA and valued between $20 and $500 million. American Capital ws a generalist firm with broad interest in traditional industries such as manufacturing, distribution, and services. American Capital's European investment affiliate is European Capital. European Capital looked to invest $10 to $600 million of equity, mezzanine, and/or senior debt in similar opportunities across Europe. American Capital was formed in 1997 and in January 2017, merged with Ares Capital Management.

DEAL STATS #
Overall 62 of 265
Sector (Machinery) 6 of 10
Type (Divestiture) 8 of 14
State (Missouri) 1 of 1
Country (United States) 60 of 253
Year (2002) 7 of 19
Size (of disclosed) 36 of 49
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2002-06-11 Precitech

Keene, New Hampshire, United States

Precitech, Inc. designs and manufactures ultra precision machining solutions for diamond turning, milling, and grinding which are used to produce optical lenses, mold inserts, mirrors, and precision mechanical components. Our machines produce rotationally symmetric, asymmetric, freeform, and sculpted geometries with form tolerances in the sub-micron range and nanometer surface finishes.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2002-06-17 Teligent

Buena, New Jersey, United States

Teligent manufactures, fills and packages topical semi‐solid and liquid products for cosmetic, cosmeceutical and pharmaceutical customers. Teligent’s products are used for cosmetic, cosmeceutical and prescription applications for the treatment of symptoms of dermatitis, acne, psoriasis, and eczema. Teligent was founded in 1977 and is based in Buena, New Jersey.

Sell -
Buyer

Sentinel Capital Partners

New York, New York, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1995
PE ASSETS 11.2B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Sentinel Capital Partners is a private equity firm that targets investments in middle-market companies with strong management and 'attractive growth prospects'. Sentinel looks to invest up to $400 million of equity in companies generating EBITDA of up to $65 million. Sectors of interest include business services/outsourcing, consumer products and services, food and restaurants, franchising, and manufacturing. Prospective transaction situations include management buyouts, recapitalizations, corporate divestitures, take-privates, and growth capital financings. Sentinel Capital Partners was formed in 1995 and is based in New York, New York.

DEAL STATS #
Overall 15 of 96
Sector (Machinery) 1 of 4
Type (Divestiture) 1 of 5
State (Missouri) 2 of 5
Country (United States) 14 of 89
Year (2002) 1 of 1
Size (of disclosed) 11 of 16
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2000-06-06 Ovation Brands

Eagan, Minnesota, United States

Ovation Brands, Inc. (formerly Buffets, Inc.) is a operates a restaurants in the U.S. with 410 restaurants operating under the HomeTown Buffet or Old Country Buffet brand names in 38 states.

Buy $665M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2003-05-15 Castle Dental Centers

Houston,, Texas, United States

Castle Dental Centers, Inc. is a provider of general dentistry, orthodontic and other dental specialty services through 77 dental centers with approximately 200 affiliated dentists.

Buy $66M

Seller(S) 1

SELLER

Invensys

London, United Kingdom
Category Company
Sector Diversified
Revenue 1.8B GBP (2013)
DESCRIPTION

Invensys is a global technology company that serves a range of industrial and commercial customers. Invensys designs and supplies advanced technologies to optimise operational performance and profitability. The Company operates through four primary segments. These include, Software, Industrial Automation, Energy Controls and Appliance.

DEAL STATS #
Overall 3 of 12
Sector (Machinery) 2 of 3
Type (Divestiture) 3 of 11
State (Missouri) 1 of 1
Country (United States) 2 of 9
Year (2002) 2 of 5
Size (of disclosed) 9 of 9
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2002-05-02 Invensys - Flow Control Division

United States

Flow Control Division (IFC) is a valve company serving a wide range of industries, including petroleum, chemical, power, water and general industry.

Sell $535M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2002-08-19 Invensys Sensor Systems

Shelby, North Carolina, United States

Invensys Sensor Systems is a Shelby, N.C.-based company with 13 manufacturing facilities in six countries, including the United States, United Kingdom, Mexico, the Czech Republic and China. A supplier of sensors and controls used in the medical, office automation, aerospace, heating and air conditioning, automotive, off-road vehicle and consumer appliance industries. Its sensors detect changes in temperature, pressure, speed, or position.

Sell $415M
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