M&A Deal Summary

Industrial Opportunity Partners Acquires Applegate Greenfiber

On January 11, 2022, private equity firm Industrial Opportunity Partners acquired building materials company Applegate Greenfiber

Acquisition Highlights
  • This is Industrial Opportunity Partners’ 2nd transaction in the Building Materials sector.
  • This is Industrial Opportunity Partners’ 28th transaction in the United States.
  • This is Industrial Opportunity Partners’ 4th transaction in North Carolina.

M&A Deal Summary
Date 2022-01-11
Target Applegate Greenfiber
Sector Building Materials
Buyer(s) Industrial Opportunity Partners
Deal Type Consolidation

Target

Applegate Greenfiber

Charlotte, North Carolina, United States
Applegate Greenfiber is a manufacturer, marketer, and distributor of cellulose insulation for the residential remodeling and new-home construction markets. Applegate was founded in 1978 and is headquartered in Charlotte, North Carolina.

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Buyer(S) 1

Buyer

Industrial Opportunity Partners

Evanston, Illinois, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2005
PE ASSETS 1.5B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Industrial Opportunity Partners is a private equity firm focused on acquiring and managing middle-market manufacturing and value-added distribution businesses. IOP looks to invest $15 to $100 million in companies with revenues between $50 and $500 million with an EBITDA of $5 to $50 million. Sectors of interest include building products, electronics, foundry, and casting products, precision machining, stamped and fabricated products, automotive components and steel/metal processing. IOP has a particular investment focus on enhancing the operations and optimizing the cost structures of businesses. Industrial Opportunity Partners was formed in 2005 and is based in Evanston, Illinois.

DEAL STATS #
Overall 30 of 32
Sector (Building Materials) 2 of 2
Type (Consolidation) 1 of 1
State (North Carolina) 4 of 4
Country (United States) 28 of 30
Year (2022) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-11-30 Aarrowcast

Shawano, Wisconsin, United States

Aarrowcast is a provider of ductile, gray, and austempered ductile iron castings that specializes in large, complex castings utilizing sophisticated metallurgy. The Company’s products are sold to global original equipment manufacturers in the agriculture, off-highway heavy truck, military, and construction industries. Aarrowcast was formed in 1978 and is based in Shawano, Wisconsin.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-02-08 Midwest Paper Group

Combined Locks, Wisconsin, United States

Midwest Paper Group is a manufacturer and distributor of recycled containerboard, natural kraft & bleached packaging, and printing & writing grades. Midwest Paper was founded in 1889 and is based in Combined Locks, Wisconsin.

Sell -
Mergr

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