M&A Deal Summary

ImesAPI S.A. Acquires Midasco

On June 10, 2011, ImesAPI S.A. acquired construction company Midasco from Main Street Resources and Starboard Capital Partners

Acquisition Highlights
  • This is ImesAPI S.A.’s 1st transaction in the Construction sector.
  • This is ImesAPI S.A.’s 1st transaction in the United States.
  • This is ImesAPI S.A.’s 1st transaction in Maryland.

M&A Deal Summary
Date 2011-06-10
Target Midasco
Sector Construction
Buyer(s) ImesAPI S.A.
Sellers(s) Main Street Resources
Starboard Capital Partners
Deal Type Add-on Acquisition
Advisor(s) BB&T Capital Markets (Financial)

Target

Midasco

Elkridge, Maryland, United States
Midasco provides installation and maintenance services for intelligent transportation systems, highway signing, lighting and signal categories in the Mid-Atlantic region of the U.S. Services include: estimating, bid preparation, engineering, project management, and full construction work on excavation, foundations, structure erection, electrical wiring, device installation, and integration.

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Buyer(S) 1

Buyer

ImesAPI S.A.

Madrid, Spain
Category Company
Sector Construction
DESCRIPTION

ImesAPI, S.A. offers installation of high voltage lines, railway electrification, communications infrastructures, and industrial installations in general.

DEAL STATS #
Overall 1 of 1
Sector (Construction) 1 of 1
Type (Add-on Acquisition) 1 of 1
State (Maryland) 1 of 1
Country (United States) 1 of 1
Year (2011) 1 of 1

Seller(S) 2

SELLER

Main Street Resources

Westport, Connecticut, United States

Investor

Category Private Equity Firm
Founded 1998
Size Small
Type Sector Agnostic
DESCRIPTION

Main Street Resources is a private equity firm that targets controlling or minority investments in middle-market businesses located in the Northeast US. Main Street typically invests $2 to $10 million in companies with $10 to $75 million of revenue. Prospective transaction situations include privatizations, management buy-outs, the funding of growth capital and add-on acquisitions, and buyouts of passive or unproductive shareholders. Main Sreet will not invest in startups, technology companies or turnarounds. Main Street Resources was formed in 1998 and is based in Westport, Connecticut.

DEAL STATS #
Overall 5 of 8
Sector (Construction) 1 of 3
Type (Add-on Acquisition) 2 of 3
State (Maryland) 1 of 1
Country (United States) 4 of 7
Year (2011) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-09-09 Morgan Contracting

Knoxville, Tennessee, United States

Morgan Contracting is a construction contractor for water and wastewater infrastructure. MCI’s services include pipeline installation, design/build of wastewater treatment plants and pump stations, and tunneling for local municipalities and water authorities across the United States. Morgan Contracting was established in 1989 and is based in Knoxville, Tennessee.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-12-15 Morgan Contracting

Knoxville, Tennessee, United States

Morgan Contracting is a construction contractor for water and wastewater infrastructure. MCI’s services include pipeline installation, design/build of wastewater treatment plants and pump stations, and tunneling for local municipalities and water authorities across the United States. Morgan Contracting was established in 1989 and is based in Knoxville, Tennessee.

Sell -
SELLER

Starboard Capital Partners

Southport, Connecticut, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2004
PE ASSETS 700M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Starboard Capital Partners LLC is an unsponsored investment group that works with private equity investors and management in acquiring mid-sized businesses valued between $25 and $100 million. In addition to investing, Starboard earns equity for initiating transactions and for ongoing advisory services. Sectors of interest include automotive, consumer products, building materials, construction, distribution, e-commerce, franchising, manufacturing, healthcare, and real estate. Starboard Capital was formed in 2004 and is based in Southport, Connecticut.

DEAL STATS #
Overall 2 of 10
Sector (Construction) 1 of 4
Type (Add-on Acquisition) 1 of 7
State (Maryland) 1 of 1
Country (United States) 2 of 10
Year (2011) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-04-01 Lakeshore TolTest

Detroit, Michigan, United States

Lakeshore TolTest Corp., Inc. is a worldwide construction company that manages major military and other government agency infrastructure projects, as well as major water and sewer projects for municipalities. Lakeshore TolTest was established in 2010 and is based in Detroit, Michigan.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-07-26 Jersey Precast

Hamilton Township, New Jersey, United States

Jersey Precast is a manufacturer of precast concrete and structural steel products. Significant products include major structural forms for roads, bridges, buildings, and water and sewer systems. Jersey Precast was founded in 1980 and is based in Hamilton Township, New Jersey.

Buy -
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