Add-on Acquisition • Business Services

IRT Acquires Signature Special Event Services

On November 5, 2006, IRT acquired business services company Signature Special Event Services from River Associates for 22M USD

Acquisition Context
  • This is IRT’s 1st transaction in the Business Services sector.
  • This is IRT’s largest (disclosed) transaction.
  • This is IRT’s 1st transaction in the United States.
  • This is IRT’s 1st transaction in Maryland.

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M&A Deal Summary

Date November 5, 2006
Target Signature Special Event Services
Sector Business Services
Buyer(s) IRT
Sellers(s) River Associates
Deal Type Add-on Acquisition
Deal Value 22M USD

Target Company

Signature Special Event Services

Frederick, Maryland, United States
Signature Special Event Services, LLC is one of the largest fully-integrated special events rental business. The company provides customers with tents, climate controlled heating and cooling equipment, power generation and distribution equipment and a wide variety of ancillary equipment including flooring, carpeting, staging, and temporary kitchens.
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Buyer Overview 1

Buyer

IRT

Glenn Dale, Maryland, United States

Category Company
Founded 1977
Sector Aerospace
DESCRIPTION

IRT (formally TVI Corporation) was incorporated January 28, 1977 when it introduced its patented Radiant Heating Panels to the commercial marketplace. In 1980, IRT responded to a request from the Department of Defense (DoD) for technical assistance in the area of military thermal targets. The DoD was interested in the application of IRT’s radiant heating panel technology to the development of thermal targets in support of M60A3 tank gunnery training and certification.


Deal Context for Buyer #
Overall 1 of 1
Sector: Business Services 1 of 1
Type: Add-on Acquisition 1 of 1
State: Maryland 1 of 1
Country: United States 1 of 1
Year: 2006 1 of 1
Size (of disclosed) 1 of 1

Seller Profile 1

SELLER

River Associates

Chattanooga, Tennessee, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1989
PE ASSETS 1.1B USD
Size Large
Type Sector Agnostic
DESCRIPTION

River Associates is a private equity firm that targets buyouts, divestitures and recapitalizations of lower middle-market companies. River looks for investments in manufacturing, high-margin distribution, industrial services and 'non-faddish' retail companies. The Firm focuses on companies located in the US and Canada with minimum sales of $15 million and EBITDA of $3 to $12 million. River Associates avoids investing in heavily regulated industries as well as start-up, high-technology, commodity or natural resource companies. River Associates was formed in 1989 and is based in Chattanooga, Tennessee.


Deal Context for Seller #
Overall 7 of 25
Sector: Business Services 1 of 2
Type: Add-on Acquisition 1 of 7
State: Maryland 1 of 1
Country: United States 6 of 24
Year: 2006 3 of 3
Size (of disclosed) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2006-10-01 Tooling Tech Group

Fort Loramie, Ohio, United States

Tooling Tech Group is a supplier of high-quality tooling for a variety of material forming processes including: thermoforming, twin-sheet and single-sheet vacuum forming, pressure forming, compression molding, rotational molding, blow molding, resin transfer molding, rubber and polyurethane molding, carpet and metal stamping, foundry tooling and pulp molding. The full range of in-house capabilities, including patterns, models, cast tooling, finishing, CNC machining as well as design and engineering, provides customers with a complete, one-stop solution for their tooling needs. Tooling Tech Group was formed in 1982 and is based in Fort Loramie, Ohio.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2006-11-27 Wheaton Industries

Millville, New Jersey, United States

Wheaton Industries, Inc. is a marketer, manufacturer and re-packager of containers, laboratory ware, instrumentation and associated products and services sold principally to customers in the general laboratory, life sciences, and diagnostics and reagent / chemicals packaging markets.

Buy -