Secondary Buyout • Manufacturing

HBM Holdings Acquires Control Devices

On October 13, 2021, private equity firm HBM Holdings acquired manufacturer Control Devices from Goldner Hawn

Acquisition Context
  • This is HBM Holdings’ 2nd transaction in the Manufacturing sector.
  • This is HBM Holdings’ 8th transaction in the United States.
  • This is HBM Holdings’ 3rd transaction in Missouri.

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M&A Deal Summary

Date October 13, 2021
Target Control Devices
Sector Manufacturing
Buyer(s) HBM Holdings
Sellers(s) Goldner Hawn
Deal Type Secondary Buyout

Target Company

Control Devices

Fenton, Missouri, United States
Control Devices is a designer and manufacturer of engineered flow control solutions in the gas, air, and liquid markets. Control Devices offers customized and standard valves, condensate traps, refrigerant distributors, and other products that serve as critical components in end-product applications, including medical systems, air compressors, fire suppression systems, and specialty gas HVACR, and heavy truck braking systems. Control Devices was founded in 1963 and is headquartered in Fenton, Missouri.
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Buyer Overview 1

DESCRIPTION

HBM Holdings is a Midwest US-based investment group focused on acquiring majority stakes in 'product-centric companies. HBM seeks opportunities across North America and will consider businesses generating $20 to $50 million of EBITDA and valued up to $200 million. Sectors of interest include industrial, energy, vitamins/minerals/supplements, mining, medical manufacturing, environmental, food ingredients, and water. HBM Holdings was formed in 2012 and is based in St. Louis, Missouri.


Deal Context for Buyer #
Overall 8 of 9
Sector: Manufacturing 2 of 2
Type: Secondary Buyout 3 of 4
State: Missouri 3 of 3
Country: United States 8 of 9
Year: 2021 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-09-24 Tru-Flex

Indianapolis, Indiana, United States

Tru-Flex is a manufacturer and marketer of flexible metal hose products used for three primary markets patented components for on-road and off-road EPA compliant exhaust systems, tubing, and related products for natural gas transmission within residential housing and metal hose for general industrial applications. Tru-Flex was founded in 1962 and is based in Indianapolis, Indiana.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-03-31 Aerofil

Sullivan, Missouri, United States

Aerofil is a privately held company that provides contract manufacturing services for aerosol and liquid packaging for the automobile, personal care, household and insecticides industries. Aerofil was founded in 1988 and is based in Sullivan, Missouri.

Sell -

Seller Profile 1

SELLER

Goldner Hawn

Minneapolis, Minnesota, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1989
PE ASSETS 825M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Goldner Hawn is a private equity firm that targets middle market companies in the Midwest US. Goldner Hawn generally looks for businesses valued between $25 and $150 million and looks to invest between $10 to $30 million of equity capital per transaction. Sectors of interest include agribusiness, food, power generation, basic materials, medical products, consumer products, retail, restaurants, consumer services, business services, and industrials. Goldner Hawn prefers control investments, but in certain instances, the Firm will also consider minority positions. Goldner Hawn was formed in 1989 and is based in Minneapolis, Minnesota.


Deal Context for Seller #
Overall 32 of 34
Sector: Manufacturing 5 of 5
Type: Secondary Buyout 13 of 14
State: Missouri 1 of 1
Country: United States 32 of 34
Year: 2021 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-09-01 Terra Firma

Towson, Maryland, United States

Terra Firma is a specialty chemical distributor across CASE, construction, plastics, and other end markets. Terra Firma is based in Towson, Maryland.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-11-10 Steven Label

Santa Fe Springs, California, United States

Steven Label produces overlays and nameplates, bar-coded and variable data labels, insulator and shields tag and labels for medical applications, and durable labels with U/CSA recognition. Steven Label offers medical printing of all sorts including instructions for use and booklets. The Company is committed to providing consistent customer satisfaction with the highest quality products and service. Steven Label was founded in 1954 and is based in Santa Fe Springs, California.

Buy -