M&A Deal Summary

Insight Equity Acquires Panolam Surface Systems

On June 10, 2016, private equity firm Insight Equity acquired building materials company Panolam Surface Systems from Apollo Global Management

Acquisition Highlights
  • This is Insight Equity’s 1st transaction in the Building Materials sector.
  • This is Insight Equity’s 17th transaction in the United States.
  • This is Insight Equity’s 1st transaction in Connecticut.

M&A Deal Summary
Date 2016-06-10
Target Panolam Surface Systems
Sector Building Materials
Buyer(s) Insight Equity
Sellers(s) Apollo Global Management
Deal Type Secondary Buyout

Target

Panolam Surface Systems

Shelton, Connecticut, United States
Panolam Surface Systems is a manufacturer of thermally fused melamine (TFM) panels and high-pressure laminates (HPL). TFM and HPL are used to manufacture kitchen and bath cabinetry, residential and commercial furniture, store fixtures and counter-tops. Panolam Industries International was founded in 1997 and is based in Shelton, Connecticut.

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Buyer(S) 1

Buyer

Insight Equity

Southlake, Texas, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2000
PE ASSETS 800M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Insight Equity is a private equity firm targets control investments in middle-market companies. Insight looks for companies with revenues between $50 million to $1 billion and seeks to commit between $25 to $100 million per transaction. Areas of interest include manufacturing, distribution, aerospace & defense, automotive & transportation, consumer goods, service & professional industries, technology, and energy. Insight does not invest in real estate, retail or restaurant businesses. Insight Equity was formed in 1998 and is based in Southlake, Texas. The Firm has additional in New York City.

DEAL STATS #
Overall 19 of 26
Sector (Building Materials) 1 of 1
Type (Secondary Buyout) 4 of 7
State (Connecticut) 1 of 1
Country (United States) 17 of 24
Year (2016) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-02-09 Flanders

Washington, North Carolina, United States

Flanders Corporation, together with its subsidiaries, engages in the design, manufacture, and sale of air filters and related products.

Sell $430M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-05-24 Riverbend Foods

Pittsburgh, Pennsylvania, United States

Riverbend Foods LLCis a manufacturer of soups, broths, gravies, and infant feeding products sold in cans, jars and TetraRecart cartons. Riverbend Foods is based in Pittsburgh, Pennsylvania.

Buy -

Seller(S) 1

SELLER

Apollo Global Management

New York, New York, United States

Investor Investor Investor Investor Investor

Category Asset Manager
Founded 1990
PE ASSETS 45.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Apollo Global Management is a global alternative investment firm. The Firm segments its activity between private equity, capital markets, real estate, and publicly traded investment funds. Within private equity, Apollo targets traditional buyouts, distressed situations, as well as minority investments to help companies make acquisitions or fund other needs. Sectors of interest include chemicals, commodities, consumer/retail, distribution, transportation, financial services, business services, manufacturing, industrial, media/cable/leisure, packaging, and satellite/wireless. Apollo's geographic coverage spans Europe, North America, and Asia. Apollo manages publicly traded Apollo Investment Corporation, which provides equity and junior capital to middle-market companies, as well as Apollo Commercial Real Estate Finance, Inc. Apollo Global Management was formed in 1990 and is based in New York City.

DEAL STATS #
Overall 24 of 67
Sector (Building Materials) 2 of 2
Type (Secondary Buyout) 9 of 16
State (Connecticut) 1 of 1
Country (United States) 19 of 51
Year (2016) 4 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-05-02 Maxim Crane Works

Bridgeville, Pennsylvania, United States

Maxim Crane Works is a coast-to-coast provider of comprehensive lifting services in the United States. Maxim Crane Works was founded in 1994 and is based in Bridgeville, Pennsylvania.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-06-29 Diamond Resorts

Las Vegas, Nevada, United States

Diamond Resorts is a provider of hospitality and management services. The company operates in two segments, Hospitality and Management Services, and Vacation Interest Sales and Financing. Diamond Resorts with its network of more than 420 vacation destinations located in 35 countries throughout the continental United States, Hawaii, Canada, Mexico, the Caribbean, South America, Central America, Europe, Asia, Australasia, and Africa, provides guests with choice and flexibility to let them create their dream vacation, whether they are traveling an hour away or around the world. Our relaxing vacations have the power to give guests an increased sense of happiness and satisfaction in their lives, while feeling healthier and more fulfilled in their relationships, by enjoying memorable and meaningful experiences that let them Stay Vacationed. Diamond Resorts was founded in 1996 and is based in Las Vegas, Nevada.

Buy $2.2B
Mergr

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