M&A Deal Summary

ICV Capital Partners Acquires LeadingResponse

On May 9, 2017, private equity firm ICV Capital Partners acquired marketing company LeadingResponse from Huron Capital, Midwest Mezzanine Funds and Madison Industries

Acquisition Highlights
  • This is ICV Capital Partners’ 2nd transaction in the Marketing sector.
  • This is ICV Capital Partners’ 21st transaction in the United States.
  • This is ICV Capital Partners’ 3rd transaction in Florida.

M&A Deal Summary

Date 2017-05-09
Target LeadingResponse
Sector Marketing
Buyer(s) ICV Capital Partners
Sellers(s) Huron Capital
Midwest Mezzanine Funds
Madison Industries
Deal Type Secondary Buyout
Advisor(s) Lincoln International (Financial)
Honigman (Legal)

Target

LeadingResponse

Tampa, Florida, United States
LeadingResponse is client acquisition and lead generation specialist to professional service firms. LeadingResponse offers technology-enabled, data-driven client acquisition services to professional services end markets. LeadingResponse was founded in 1995 and is based in Tampa, Florida and with operations in Plano, Texas.

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Buyer(S) 1

Buyer

ICV Capital Partners

Miami, Florida, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1998
PE ASSETS 700M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

ICV Capital Partners is a private equity firm focused on making equity investments in US-based middle-market companies. ICV seeks control investments in companies with annual revenues between $25 and $300 million and EBITDA between $10 and $40 million. ICV prefers businesses with existing/proven management and operating in stable industries. Target transactions include non-core divestitures, take-privates, and acquisitions of private companies in partnership with management. ICV Capital Partners was founded in 1998 and has offices in New York and Atlanta, Georgia.


DEAL STATS #
Overall 22 of 33
Sector (Marketing) 2 of 2
Type (Secondary Buyout) 10 of 12
State (Florida) 3 of 3
Country (United States) 21 of 31
Year (2017) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-12-07 SG360°

Wheeling, Illinois, United States

SG360° offers multichannel marketing solutions and services that range from research and strategy to concept and execution, including direct mail, data analytics, and fulfillment. SG360° was founded in 1956 and is based in Wheeling, Illinois.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-03-13 OIA

Franklin, Tennessee, United States

OIA is a provider of outpatient radiology services in partnership with leading health systems across the country. The company today has over 30 locations in over nine states in the Southeast, Mid-Atlantic, and Midwest. Ten locations are wholly owned by OIA, 19 are joint-ventures with health system partners and the remaining locations are where the company has a management and billing contract. It partners with healthcare providers such as health systems, academic medical centers, and radiology groups to develop, market, and operate quality, patient-friendly, service-oriented outpatient imaging centers. OIA centers range from single to full-modality facilities offering PET/CT, MR, CT, ultrasound, mammography, nuclear medicine, bone densitometry (DEXA), and plain film X-ray procedures. OIA was formed in 2000 and is based in Franklin, Tennessee.

Buy -

Seller(S) 3

SELLER

Huron Capital

Detroit, Michigan, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1999
PE ASSETS 1.8B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Huron Capital Partners is a private equity firm that seeks to acquire or recapitalize niche manufacturers, value-added distributors and specialty service companies. Prospective transaction situations include management buyouts, corporate spin-offs, recapitalizations, family successions and consolidations. Huron prefers opportunities located in the US and Canada. Target companies typically have revenues between $20 and $200 million and EBITDA of at least $5 million. Huron can commit up to $10 million and $50 million of equity capital per transaction. Huron Capital Partners was formed in 1999 and has offices in Detroit, Michigan and Ontario, Canada.


DEAL STATS #
Overall 25 of 35
Sector (Marketing) 1 of 1
Type (Secondary Buyout) 9 of 15
State (Florida) 1 of 1
Country (United States) 22 of 32
Year (2017) 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-02-01 The Olon Group

Georgetown, Ontario, Cambodia

The Olon Group, Inc. is a designer and manufacturer of drawer components, profile wrapped moldings, edge treatments, and decorative laminate products for the North American furniture, residential remodeling, and cabinet-making industries. With Canadian and US-based manufacturing facilities in Ontario, Indiana, and Illinois, the Company sells its products primarily to Canadian and United States office furniture and cabinetry OEMs, wholesalers and distributors.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-08-01 Stay Online

Henderson, North Carolina, United States

Stay Online manufactures and distributes a wide selection of highly-specialized power cords and cables for the data center, power infrastructure, and industrial markets. Stay Online was founded in 1987 and is based in Henderson, North Carolina.

Buy -
SELLER

Midwest Mezzanine Funds

Chicago, Illinois, United States

Investor Investor Investor Investor Investor


Category Mezzanine Finance Firm
Founded 1992
PE ASSETS 1.0B USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Midwest Mezzanine Funds (MMF) is a provider of junior capital to lower middle-market, US and Canadian companies. MMF looks to invest $4 to $15 million to support buyouts, acquisition financings, recapitalizations, and growth capital needs. Prospective companies generally have consistent profits ($3 million of EBITDA), low capital intensity, and sustainable competitive advantages. Broad areas of interest include manufacturing, value-added distribution, and services. MMF will not invest in high technology, energy, or real estate. Midwest Mezzanine was formed in 1992 and has offices in Chicago and Monroe, Michigan.


DEAL STATS #
Overall 37 of 56
Sector (Marketing) 2 of 2
Type (Secondary Buyout) 17 of 25
State (Florida) 1 of 1
Country (United States) 36 of 55
Year (2017) 2 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-02-01 Distinct Software Solutions

Austin, Texas, United States

Distinct Software Solutions LLC is an online marketing solutions provider to the golf industry.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-07-31 Fluence Automation

Arlington Heights, Illinois, United States

Fluence Automation LLC provides mail and parcel sorting systems/hardware and related software and service revenue associated with the hardware as well as assets that will be leveraged for growth opportunities in the material handling and e-Commerce fulfillment markets. Fluence Automation is based in Arlington Heights, Illinois.

Buy -
SELLER

Madison Industries

Chicago, Illinois, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1994
Size Large
Type Sector Focused
DESCRIPTION

Madison Industries is a privately held investment holding firm that targets growth investments in and acquisitions of industrial manufacturing companies. Madison prefers businesses with a defensible market niche, established technology, and significant cash-flow growth potential. Madison will also consider turnaround situations. Target opportunities generally have sales between $50 million and $2 billion. Madison Industries is based in Chicago, Illinois.


DEAL STATS #
Overall 17 of 18
Sector (Marketing) 1 of 1
Type (Secondary Buyout) 8 of 8
State (Florida) 1 of 1
Country (United States) 16 of 17
Year (2017) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-04-17 Reservoir Group

Stafford, Texas, United States

Reservoir Group is a global provider of oilfield services primarily focused on oil and gas reservoir evaluation and production optimization. Oil companies, independent E&P operators and oilfield service providers depend on Reservoir Group for their drilling services (coring services and drilling tools), production solutions (well intervention and well monitoring) and surface logging. Reservoir Group is based in Stafford, Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-06-16 Reelcraft

Columbia, Indiana, United States

Reelcraft is a global designer and manufacturer of the widest range of hose, cord and cable reels for industrial, commercial and professional applications. Reelcraft’s key focus is to produce durable, quality products that make hoses, cords and cables more productive, keep them easily accessible and make them last longer. Reelcraft was founded in 1971 and is based in Columbia, Indiana.

Buy -