M&A Deal Summary

Heartwood Partners Acquires Fletcher-Terry

On February 14, 2018, private equity firm Heartwood Partners acquired manufacturer Fletcher-Terry

Acquisition Highlights
  • This is Heartwood Partners’ 6th transaction in the Manufacturing sector.
  • This is Heartwood Partners’ 17th transaction in the United States.
  • This is Heartwood Partners’ 1st transaction in Connecticut.

M&A Deal Summary
Date 2018-02-14
Target Fletcher-Terry
Sector Manufacturing
Buyer(s) Heartwood Partners
Deal Type Recapitalization

Target

Fletcher-Terry

East Berlin, Connecticut, United States
Fletcher-Terry is made up of six globally recognized brands – Fletcher, Alfamacchine, Albin, AMP, Picture Perfect and Atlas Saw & Tool – marketed under the corporate umbrella Fletcher Business Group. Company offers its customers solution-driven technologies for Frame Joining; Mitre Cutting; Substrate Cutting; Hanging and Display; Assembly|Finishing; Automated Glass Cutting; Saw Blade Technology and Sharpening Services. Fletcher-Terry was founded in 1868 and is based in East Berlin, Connecticut.

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Buyer(S) 1

Buyer

Heartwood Partners

Norwalk, Connecticut, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1982
PE ASSETS 1.6B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Heartwood Partners is a private equity firm focused on partnerships with middle-market companies across the US. The Firm prefers to invest in family owned and managed companies where it can leverage strategic resources for long-term growth. Target companies are typically profitable with $5 to $30 million of EBITDA with up to $400 million in revenue. Sectors of interest include agriculture, automotive, consumer products, distribution, food, industrial services, niche manufacturing, packaging, and chemicals. Heartwood Partners was formed in 1982 and is headquartered in Norwalk, Connecticut.

DEAL STATS #
Overall 17 of 29
Sector (Manufacturing) 6 of 8
Type (Recapitalization) 1 of 1
State (Connecticut) 1 of 2
Country (United States) 17 of 29
Year (2018) 1 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-10-31 Breen Color

Lambertville, New Jersey, United States

East Coast Colorants LLC is a provider of custom color concentrates for the plastics industry with a focus on serving the wire & cable, packaging, and consumer end markets. The company’s expertise in custom color formulations for PVC resins has enabled it to become the market leader in a broad range of market applications. East Coast Colorants was founded in 1976 and is based in Lambertville, New Jersey.

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FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-05-02 ChromaScape

Twinsburg, Ohio, United States

ChromaScape is a producer of dispersions and additives serving landscaping, building materials, graphic arts, and food markets through its four business units: Amerimulch, Solution Dispersions, ChromaPave and Innotech. ChromaScape was founded in 1998 and is based in Twinsburg, Ohio.

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