M&A Deal Summary

Industrial Growth Partners Acquires Climax Portable Machine Tools

On September 6, 2013, private equity firm Industrial Growth Partners acquired machinery company Climax Portable Machine Tools from Marquette Capital Partners, Argosy Private Equity and Horizon Partners

Acquisition Highlights
  • This is Industrial Growth Partners’ 4th transaction in the Machinery sector.
  • This is Industrial Growth Partners’ 21st transaction in the United States.
  • This is Industrial Growth Partners’ 1st transaction in Oregon.
Investment Fate
  • Climax Portable Machine Tools was sold to a strategic buyer in 2023.

M&A Deal Summary

Date 2013-09-06
Target Climax Portable Machine Tools
Sector Machinery
Buyer(s) Industrial Growth Partners
Sellers(s) Marquette Capital Partners
Argosy Private Equity
Horizon Partners
Deal Type Secondary Buyout
Advisor(s) Lincoln International (Financial)

Target

Climax Portable Machine Tools

Newberg, Oregon, United States
Climax Portable Machine Tools is a supplier of portable machine tools and related products serving the shipbuilding, power generation, service and engineering sectors. Climax Portable Machine Tools was founded in 1966 and is based in Newberg, Oregon.

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Buyer(S) 1

Buyer

Industrial Growth Partners

San Francisco, California, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1997
PE ASSETS 3.4B USD
Size Large
Type Sector Focused
DESCRIPTION

Industrial Growth Partners (IGP) is a private equity firm that invests in privately held, lower middle-market manufacturing and manufacturing services companies. Specific areas of interest include industrial components and equipment, electrical and electronic equipment, process instrumentation and controls, analytical instruments and measuring devices, filtration and pumps, specialty chemicals, plastics, and healthcare/safety equipment. Prospective transaction situations include management buyouts, leveraged buyouts, corporate divestitures, recapitalizations, management buy-ins, and growth capital financings. Target companies typically are profitable and have annual revenues up to $250 million. IGP was formed in 1997 and is based in San Francisco, California.


DEAL STATS #
Overall 21 of 46
Sector: Machinery M&A 4 of 7
Type: Secondary Buyout M&A Deals 9 of 20
State: Oregon M&A 1 of 1
Country: United States M&A 21 of 45
Year: 2013 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-08-07 Controls Southeast

Pineville, North Carolina, United States

Controls Southeast, Inc. is a provider of bolt-on heating systems for piping, tanks, valves and instrumentation, as well as jacketed piping systems and full-service system engineering and design, field consulting and installation support for a broad range of critical industrial processes.

Sell $160M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-03-26 International Polymer Solutions

Irvine, California, United States

International Polymer Solutions is a Worldwide Supplier of Engineered High Purity Fluid Handling Products.

Buy -

Seller(S) 3

SELLER

Marquette Capital Partners

St. Louis Park, Minnesota, United States

Investor Investor Investor Investor


Category Mezzanine Finance Firm
Founded 1997
PE ASSETS 258M USD
Size Small
Type Sector Agnostic
DESCRIPTION

Marquette Capital Partners (MCP) is a private investment focused on junior capital investments in mature lower-middle market companies. MCP looks to invest $2 to $10 million per transaction to support growth, recapitalization, or change of control transactions. Prospective companies are typically manufacturers of consumer or industrial products, value-added distributors, business to business service companies, and retail businesses. MCP will not invest in start-ups, early stage venture capital, or real estate businesses. The firm is an affiliate of Marquette Financial Companies, a multibillion dollar financial services firm. Marquette Capital Partners was formed in 1997 and is based in Minneapolis, Minnesota, with an additional office in Chicago, Illinois.


DEAL STATS #
Overall 9 of 17
Sector: Machinery M&A 1 of 1
Type: Secondary Buyout M&A Deals 1 of 1
State: Oregon M&A 1 of 1
Country: United States M&A 9 of 17
Year: 2013 M&A 3 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-09-04 Midwest Plastic Components

Minneapolis, Minnesota, United States

Midwest Plastic Components is a contract manufacturer of specialty injection molded plastic components as well as prototype and rapid turn molding. Midwest Plastic Components is headquartered in Minneapolis, Minnesota.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-10-01 Groeb Farms

Onsted, Michigan, United States

Groeb Farms, Inc. is a domestic processor and packager of honey for the industrial food ingredient and foodservice markets. Groeb Farms is based in Onsted, Michigan.

Sell -
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 18 of 55
Sector: Machinery M&A 1 of 1
Type: Secondary Buyout M&A Deals 4 of 11
State: Oregon M&A 1 of 2
Country: United States M&A 18 of 55
Year: 2013 M&A 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-07-24 Linkage

Burlington, Massachusetts, United States

Linkage offers a variety of leadership training programs for senior and high potential executives of large companies, covering such areas as organizational development, innovation, team assessment and women in leadership. Linkage was founded in 1988 and is based in Burlington, Massachusetts.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-09-17 Brillcast Manufacturing

Wyoming, Michigan, United States

Brillcast Manufacturing LLC is a manufacturer and designer of zinc die castings and the integration of castings into finished products. Brillcast Manufacturing was founded in 1956 and is based in Wyoming, Michigan.

Buy -
SELLER

Horizon Partners

Milwaukee, Wisconsin, United States

Investor Investor


Category Family Office
Founded 1990
Size Small
Type Sector Agnostic
DESCRIPTION

Horizon Partners, Ltd. is a private investment holding company which acquires and builds private companies. Horizon looks to invest in medium-sized businesses valued from $3 to $50 million with sales of $10 to $100 million. Sectors of interest include food, specialty chemicals, packaging, general industrial, printing, consumer products, business and financial services, electronics, and plastics. Horizon Partners has offices in Naples, Florida and Milwaukee, Wisconsin.


DEAL STATS #
Overall 16 of 18
Sector: Machinery M&A 1 of 1
Type: Secondary Buyout M&A Deals 3 of 3
State: Oregon M&A 1 of 1
Country: United States M&A 15 of 17
Year: 2013 M&A 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-05-14 Karl s Event Rental

Oak Creek, Wisconsin, United States

Karl's Event Rental, Inc. provides rental services for corporate, gala, industrial, festival, hospitality, disaster relief, private, trade shows, sporting, and exposition events in the United States.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-10-01 Groeb Farms

Onsted, Michigan, United States

Groeb Farms, Inc. is a domestic processor and packager of honey for the industrial food ingredient and foodservice markets. Groeb Farms is based in Onsted, Michigan.

Sell -