M&A Deal Summary

Inverness Graham Investments Acquires EiKO

On June 13, 2018, private equity firm Inverness Graham Investments acquired electrical equipment company EiKO from Charter Oak Equity and Stephens Capital Partners

Acquisition Highlights
  • This is Inverness Graham Investments’ 2nd transaction in the Electrical Equipment sector.
  • This is Inverness Graham Investments’ 23rd transaction in the United States.
  • This is Inverness Graham Investments’ 1st transaction in Kansas.

M&A Deal Summary
Date 2018-06-13
Target EiKO
Sector Electrical Equipment
Buyer(s) Inverness Graham Investments
Sellers(s) Charter Oak Equity
Stephens Capital Partners
Deal Type Secondary Buyout

Target

EiKO

Olathe, Kansas, United States
EiKO is a manufacturer of advanced lighting solutions for the commercial and industrial markets a US-based lighting manufacturer solving the lighting needs of industrial and commercial end‐users for over 40 years, with offices in the United States, Canada, Europe, and APAC. EiKO carries a broad range of LED lamps, indoor and outdoor LED fixtures, and traditional lighting products, selling through electrical distribution. Additionally, EiKO offers a comprehensive suite of services, including real-time quotation and availability, lighting layout tools, utility rebate tools, payback calculator, project financing, search and cross-reference tools. EiKO was founded in 1978 and is based in Olathe, Kansas.

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Buyer(S) 1

Buyer

Inverness Graham Investments

Newtown Square, Pennsylvania, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2003
PE ASSETS 1.0B USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Inverness Graham Investments is the private equity arm of The Graham Group. The Firm looks to make controlling investments in lower mid-market companies throughout the US. Inverness targets capital-efficient businesses with strong/sustainable cash flow, differentiated products, and operating in growing markets. The Firm seeks to commit $20 to $80 million in companies valued up to $75 million. Sectors of interest include aerospace/defense, biotech/pharmaceuticals, building materials, business services, consumer services, packaging, industrial equipment/components, electronic equipment, food/beverages, medical devices/supplies, energy & power products/services, specialty chemicals, and technology hardware. Prospective transaction situations include buyouts, growth capital financings, recapitalizations, consolidations, and divestitures. Inverness Graham Investments was formed in 2003 and is based in Philadelphia. The Firm has an additional office in Los Angeles.

DEAL STATS #
Overall 23 of 36
Sector (Electrical Equipment) 2 of 2
Type (Secondary Buyout) 4 of 6
State (Kansas) 1 of 1
Country (United States) 23 of 36
Year (2018) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-04-17 Spirion

St. Petersburg, Florida, United States

Spirion is a provider of IT security and data privacy software. The company serves a broad slate of sophisticated customers, many of which operate internationally. Spirion has grown quickly thanks to its unique solution, which helps customers identify, classify, monitor and protect sensitive information stored throughout an IT ecosystem. Its software lets clients automatically remediate issues with sensitive data, such as deleting duplicative files, redacting information and applying permissions, among other actions.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-08-06 Vista Dental Products

Racine, Wisconsin, United States

Vista Dental Products is a manufacturer in dental and endodontic product solutions, small equipment, and ancillary consumable products. Vista Dental Products was founded in 1997 and is based in Racine, Wisconsin.

Buy -

Seller(S) 2

SELLER

Charter Oak Equity

Westport, Connecticut, United States

Investor Investor Investor Investor

Category Private Equity Firm
Founded 1992
PE ASSETS 500M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Charter Oak Equity is a private equity group focused on control investments in lower middle-market companies valued between $25 and $150 million. The Firm looks for businesses operating large markets with significant room for growth. Target sectors include niche manufacturing, packaging, medical products, specialty chemicals, consumer products, and financial services. Charter Oak generally targets family-owned companies or non-core divisions of larger companies. Charter Oak Private Equity was formed in 1992 and is based in Westport, Connecticut.

DEAL STATS #
Overall 23 of 27
Sector (Electrical Equipment) 1 of 1
Type (Secondary Buyout) 3 of 4
State (Kansas) 1 of 1
Country (United States) 23 of 27
Year (2018) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-10-18 Brook & Whittle

Guilford, Connecticut, United States

Brook & Whittle is a manufacturer of premium prime label solutions with highly differentiated capabilities, entrusted by some of the most well-known brands. The Company provides pressure-sensitive labels, shrink sleeves, and flexible packaging, with a focus on sustainable solutions and decorative effects requiring significant technical expertise. Brook & Whittle was founded in 1995 and is based in Guilford, Connecticut.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-06-22 ShelterLogic

Watertown, Connecticut, United States

ShelterLogic is a manufacturer and marketer of fabric-covered, steel frame shelters and canopies for diverse consumer and commercial applications, including sheds, garages, greenhouses, and pop-up canopies. ShelterLogic was founded in 1991 and is based in Watertown, Connecticut.

Sell -
SELLER

Stephens Capital Partners

Little Rock, Arkansas, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Stephens Capital Partners is the direct, private equity investment arm of financial services firm Stephens, Inc. Stephens Capital looks to acquire minority or majority stakes in mid-sized, profitable companies in partnership with management. The Firm will consider opportunities throughout the US valued between $50 and $200 million. Stephens Capital will not consider venture investments or turnaround situations. Stephens Capital Partners is based in Little Rock, Arkansas.

DEAL STATS #
Overall 29 of 40
Sector (Electrical Equipment) 1 of 1
Type (Secondary Buyout) 13 of 15
State (Kansas) 1 of 1
Country (United States) 29 of 39
Year (2018) 4 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-06-07 RedZone Robotics

Warrendale, Pennsylvania, United States

RedZone Robotics is a technology-enabled solutions business that uses proprietary robots and software tools to provide inspection, data collection, and asset management services primarily for wastewater pipeline systems. RedZone Robotics was founded in 1987 and is based in Warrendale, Pennsylvania.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-06-25 AVFX

Woburn, Massachusetts, United States

AVFX provides event technology services, including audio, visual, and lighting production and staging services for corporate events, trade shows, exhibits, and meetings, primarily in North America. AVFX was founded in 1981 and is based in Woburn, Massachusetts.

Buy -
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