M&A Deal Summary

High Road Capital Partners Acquires U-C Coatings

On January 10, 2018, private equity firm High Road Capital Partners acquired forest products company U-C Coatings from Sidereal Capital Group and Argosy Private Equity

Acquisition Highlights
  • This is High Road Capital Partners’ 1st transaction in the Forest Products sector.
  • This is High Road Capital Partners’ 15th transaction in the United States.
  • This is High Road Capital Partners’ 1st transaction in New York.

M&A Deal Summary

Date 2018-01-10
Target U-C Coatings
Sector Forest Products
Buyer(s) High Road Capital Partners
Sellers(s) Sidereal Capital Group
Argosy Private Equity
Deal Type Secondary Buyout

Target

U-C Coatings

Buffalo, New York, United States
U-C Coatings is a manufacturer and supplier of wood protection products for the logging, lumber, furniture, and woodworking industries. Its products include ANCHORSEAL end sealer for logs and lumber, GEMPAINT lumber tagging paints, and SEAL-ONCE waterproofers. U-C Coatings was founded in 1971 and is based in Buffalo, New York.

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Buyer(S) 1

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 LLC 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 $10 to $100 million with an EBITDA of $3 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 New York City.


DEAL STATS #
Overall 17 of 19
Sector (Forest Products) 1 of 1
Type (Secondary Buyout) 3 of 4
State (New York) 1 of 1
Country (United States) 15 of 17
Year (2018) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-07-20 The Crown Group

Warren, Michigan, United States

The Crown Group, Inc. is a provider of quality coating solutions to industrial end markets. Crown's range of coating technologies include electro-coating ("e-coating"), e-coating with powder coating topcoat and water-based wet painting. The Crown Group, Inc. was established in 1965 and is headquartered in Warren, Michigan.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-04-30 All Integrated Solutions

Franksville, Wisconsin, United States

All Integrated Solutions is a distributor of industrial fasteners and components, MRO supplies and assembly tools. AIS offers these products along with vendor managed inventory (VMI) services to original equipment manufacturers. All Integrated Solutions was founded in 1962 and is based in Franksville, Wisconsin.

Sell -

Seller(S) 2

SELLER

Sidereal Capital Group

Summit, New Jersey, United States

Investor Investor Investor


Category Private Equity Firm
Founded 2012
Size Small
Type Sector Agnostic
DESCRIPTION

Sidereal Capital Group is a private equity firm that invests in small and lower middle-market companies operating within niche segments of the specialty manufacturing, industrial services, business services, and information services sectors. The Firm pursues profitable companies with $3 to $10 million in EBITDA and will consider opportunities throughout North America. Prospective transaction situations include family-owned companies, corporate carve-outs, recapitalizations, and consolidations. Sidereal Capital Group was formed in 2012 and is based in Summit, New Jersey.


DEAL STATS #
Overall 1 of 3
Sector (Forest Products) 1 of 1
Type (Secondary Buyout) 1 of 2
State (New York) 1 of 3
Country (United States) 1 of 3
Year (2018) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-10-05 Flexo Transparent

Buffalo, New York, United States

Flexo Transparent, Inc. provides multi-colored flexible packaging including custom-printed rollstock, bags, pouches, and sleeves primarily for food grade and retail consumer products with a focus on private label accounts with short to medium-sized production runs. Flexo Transparent, Inc. was founded in 1954 and is based in Buffalo, New York.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-08-20 Qwinstar

St. Paul, Minnesota, United States

Qwinstar provides parts, supplies, implementation, and maintenance services for a comprehensive portfolio of client solutions including cash automation, intelligent safes, bank branch automation, remittance processing, printing, and high-speed document imaging equipment. Qwinstar is based in St. Paul, Minnesota.

Buy -
SELLER

Argosy Private Equity

Wayne, Pennsylvania, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1990
PE ASSETS 575M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Argosy Private Equity is the private equity arm of Argosy Capital, an asset management firm. Argosy Private Equity provides both debt and equity capital to lower middle-market companies located throughout the US. Argosy focuses on growth companies with experienced management teams and revenues between $15 and $100 million and EBITDA of $3 to $9 million. Argosy looks to invest $5 - $20 million per transaction. Specific areas of interest include manufacturing, business services, franchising and Value added distributions. The Firm will consider a variety of transaction types, including MBO’s, recapitalizations, growth equity and acquisitions. Argosy was formed in 1990 and is based in Wayne, Pennsylvania.


DEAL STATS #
Overall 28 of 54
Sector (Forest Products) 1 of 1
Type (Secondary Buyout) 6 of 9
State (New York) 1 of 3
Country (United States) 28 of 54
Year (2018) 1 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-08-30 Paragon

Oak Ridge, Tennessee, United States

Paragon provides an unmatched level of commitment to tackling the nuclear industry’s difficult challenges. Dedicated to quality, safety, reliability, and carbon-free energy, the company delivers premium products to nuclear energy facilities with proven reductions in direct costs, parts inventory, improved process efficiency, and obsolescence solutions. Paragon was formed in 2000 and is based in Oak Ridge, Tennessee.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-01-12 Parker School Uniforms

Houston, Texas, United States

Parker School Uniforms LLC is a provider of premium school uniforms to private and charter schools across the Sunbelt region of the United States including Texas, California, Oklahoma, Kansas, Alabama, Mississippi, Georgia, Tennessee, and Kentucky. Parker School Uniforms was founded in 1931 and is based in Houston, Texas.

Sell -