M&A Deal Summary

High Road Capital Partners and Barings Private Equity Acquire All Current

On October 26, 2008, private equity firms High Road Capital Partners and Barings Private Equity acquired distribution company All Current

Acquisition Highlights
  • This is High Road Capital Partners’ 1st and Barings Private Equity’s 1st transaction in the Distribution sector.
  • This is High Road Capital Partners’ 2nd and Barings Private Equity’s 4th transaction in the United States.
  • This is High Road Capital Partners’ 1st and Barings Private Equity’s 1st transaction in New Jersey.
Investment Fate
  • All Current was sold to a consortium of financial buyers in 2015.

M&A Deal Summary

Date 2008-10-26
Target All Current
Sector Distribution
Buyer(s) High Road Capital Partners
Barings Private Equity
Deal Type Buyout (LBO, MBO, MBI)

Target

All Current

Moorestown, New Jersey, United States
All Current is a reseller of electrical parts and components used in heavy-duty industrial, infrastructure, and energy applications, including conduit fittings, circuit breakers, motor control systems, and wiring devices. All Current was formed in 1981 and is based in Moorestown, New Jersey.

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Buyer(S) 2

Buyer

High Road Capital Partners

Greenwich, Connecticut, United States

Investor Investor Investor


Category Private Equity Firm
Founded 2007
PE ASSETS 470M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

High Road Capital Partners is a private equity firm focused on acquiring smaller middle-market companies in partnership with management. High Road looks to invest in companies with revenues of $5 to $100 million with an EBITDA of $1 to $ 10 million. Broad areas of interest include manufacturing, service, and value-added distribution businesses. Target transaction situations include buyouts and recapitalization. High Road will consider both control and non-control investments. High Road Capital Partners was formed in 2007 and is based in Greenwich, Connecticut.


DEAL STATS #
Overall 2 of 19
Sector (Distribution) 1 of 4
Type (Buyout (LBO, MBO, MBI)) 2 of 13
State (New Jersey) 1 of 4
Country (United States) 2 of 17
Year (2008) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2008-07-21 Milwaukee Gear

Milwaukee, Wisconsin, United States

Milwaukee Gear Company is a manufacturer of highly engineered gearing components for oil and gas applications as well as a wide variety of other commercial and industrial applications.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2009-03-25 Accentus

Ottawa, Ontario, Canada

Accentus, Inc. is the provider of outsourced medical transcription services in Canada, serving hospitals, clinics and physicians’ offices throughout the country.

Buy -
Buyer

Barings Private Equity

Investor Investor


Category Private Equity Firm
Founded 1991
PE ASSETS 5.7B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Barings Private Equity is the private equity arm of global asset management firm Barings. The Group looks to invest in mezzanine, distressed, and other private equity transactions including secondaries and funds. Sectors of interest include manufacturing, business services, distribution, consumer products, consumer services, food products, packaging, and healthcare. Barings Private Equity was originally established in 1991 and is based in Charlotte, North Carolina.


DEAL STATS #
Overall 4 of 55
Sector (Distribution) 1 of 4
Type (Buyout (LBO, MBO, MBI)) 2 of 20
State (New Jersey) 1 of 5
Country (United States) 4 of 49
Year (2008) 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2008-07-21 Milwaukee Gear

Milwaukee, Wisconsin, United States

Milwaukee Gear Company is a manufacturer of highly engineered gearing components for oil and gas applications as well as a wide variety of other commercial and industrial applications.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2008-11-01 MEGTEC Systems

De Pere, Wisconsin, United States

MEGTEC Systems, Inc. is a provider of an exhaust-air purification systems and dryers and coating systems for the production of electrodes for lithium-ion batteries. MEGTEC Systems was founded in 1997 and is based in De Pere, Wisconsin.

Buy -