M&A Deal Summary

Ironwood Capital and Hamilton Robinson Capital Partners Acquire American Roller

On February 21, 2019, growth capital firm Ironwood Capital and private equity firm Hamilton Robinson Capital Partners acquired manufacturer American Roller from CM Acquisitions

Acquisition Highlights
  • This is Ironwood Capital’s 10th and Hamilton Robinson Capital Partners’ 3rd transaction in the Manufacturing sector.
  • This is Ironwood Capital’s 67th and Hamilton Robinson Capital Partners’ 23rd transaction in the United States.
  • This is Ironwood Capital’s 2nd and Hamilton Robinson Capital Partners’ 2nd transaction in Wisconsin.

M&A Deal Summary
Date 2019-02-21
Target American Roller
Sector Manufacturing
Buyer(s) Ironwood Capital
Hamilton Robinson Capital Partners
Sellers(s) CM Acquisitions
Deal Type Secondary Buyout

Target

American Roller

Union Grove, Wisconsin, United States
American Roller's facility in Rock Hill, South Carolina.
American Roller's facility in Rock Hill, South Carolina.
American Roller Co. is a servicer and manufacturer of industrial rollers and specialty coatings. American Roller offers rubber, urethane, ceramic, hard coat, bowed, heat transfer and other specialty rollers or coatings used in the metals, converting, pulp and paper, textile, steel, graphic arts, business machines, and other industrial markets. American Roller Co. was founded in 1938 and is based in Union Grove, Wisconsin.

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Buyer(S) 2

Buyer

Ironwood Capital

Avon, Connecticut, United States

Investor Investor Investor Investor Investor

Category Growth Capital Firm
Founded 1986
PE ASSETS 1.0B USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Ironwood Capital is a private investment firm that makes equity and subordinated debt investments in lower middle-market companies. Investment proceeds are generally used to support leveraged buyouts, growth financings, and recapitalizations. Investments typically range from $10 to $40 million in companies generating $20 to $250 million in annual sales. Target sectors include healthcare products/services, value-added manufacturing, business services, consumer products, specialty distribution, and education. Ironwood prefers opportunities East of the Mississippi, but will selectively consider investments in the Western US. The Firm's investment horizon is three to five years. Ironwood Capital was formed in 2002 and is based in Avon, Connecticut.

DEAL STATS #
Overall 67 of 93
Sector (Manufacturing) 10 of 17
Type (Secondary Buyout) 8 of 9
State (Wisconsin) 2 of 2
Country (United States) 67 of 93
Year (2019) 2 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-02-12 Tunnel Hill Partners

Stamford, Connecticut, United States

Tunnel Hill Partners is an integrated waste management company with a growing number of landfill, transfer station and hauling assets located throughout Ohio and the Northeast. Its flagship landfill comprises more than 2,200 acres, has over 150 million tons of permittable capacity, provides direct access to the Ohio Central Railroad, and has an advanced load-out facility (one of only two in Ohio).

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-05-10 Lewis Clark Recycling and Disposal

Harrisburg, Illinois, United States

Lewis Clark Recycling and Disposal LLC is a solid waste company providing non-hazardous solid waste collection and disposal services to southern Illinois and greater Omaha markets.

Sell -
Buyer

Hamilton Robinson Capital Partners

Stamford, Connecticut, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1984
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Hamilton Robinson (HR) is a private equity firm that targets investments in small to mid-sized companies with revenues between $15 and $200 million headquartered in the US or Canada. Preferred industries include industrial processes and engineered products, energy and utility equipment and services, business and commercial services, and specialty publishing. HR looks for companies needing equity capital for management buyouts, corporate growth, and recapitalizations. HR will not invest in commodity businesses, companies with high customer concentration, real estate, natural resources, or early stage opportunities. HR prefers to lead investments and will consider both majority or minority positions. Hamilton Robinson was formed in 1984 and is based in Stamford, Connecticut.

DEAL STATS #
Overall 25 of 30
Sector (Manufacturing) 3 of 4
Type (Secondary Buyout) 1 of 2
State (Wisconsin) 2 of 3
Country (United States) 23 of 28
Year (2019) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-12-10 Unifiller Systems

Delta, British Columbia, Canada

Unifiller Systems, Inc. is a designer and manufacturer of state-of-the-art equipment serving the commercial baking and industrial food production industries. From Cake Boss to The Food Network, Unifiller's equipment can be found in some of the largest companies in the world. The company's products help streamline production operations by providing solutions for achieving higher output, greater weight accuracy, and better product integrity. Unifiller's products include an extensive range of single piston depositors, transfer pumps, multiple head units and fully and semi-automated production systems.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-03-19 Sound Seal

Agawam, Massachusetts, United States

Sound Seal is a manufacturer of commercial and architectural acoustic noise control products and offers a wide product selection to the soundproofing industry. Sound Seal consists of three product divisions: the Industrial Division that addresses in-plant and environmental noise control; the Architectural Division that handles interiors and finishes, including an award-winning line of WoodTrends products; and the Impacta Flooring Division that offers floor underlayments. Sound Seal was founded in 1978 and is based in Agawam, Massachusetts.

Sell -

Seller(S) 1

SELLER

CM Acquisitions

Evanston, Illinois, United States

Investor Investor Investor Investor

Category Private Equity Firm
Founded 1999
Size Small
Type Sector Agnostic
DESCRIPTION

CM Acquisitions LLC is a Chicago private equity firm focused on mid-sized businesses generating $20 to $250 million in revenues. CM will consider a variety of transaction situations, including non-core divestitures, private company sales, distressed businesses, as well as take privates. Sectors of interest include engineered plastics, capital goods manufacturers, outsourced industrial services, metalworking/metal fabrication, packaging, specialty chemicals, and electrical components. CM looks to be an active investor in working with portfolio companies.

DEAL STATS #
Overall 5 of 5
Sector (Manufacturing) 1 of 1
Type (Secondary Buyout) 2 of 2
State (Wisconsin) 2 of 2
Country (United States) 4 of 4
Year (2019) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-10-01 Color Communications

Chicago, Illinois, United States

Color Communications is a designer and producer of accurate color merchandising tools. The company manufactures color systems, color cards, fan decks, decorator kits, and color samples for the suppliers of decorative paint, stain, and coatings. CC also provides color books, samples, and standards for the automotive OEM and refinish markets. Color Communications was founded in 1972 and is based in Chicago, Illinois.

Buy -
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