M&A Deal Summary

Irving Place Capital Acquires Victor Technologies International

On October 8, 2010, private equity firm Irving Place Capital acquired machinery company Victor Technologies International from Lewis & Clark Capital for 422M USD

Acquisition Highlights
  • This is Irving Place Capital’s 1st transaction in the Machinery sector.
  • This is Irving Place Capital’s 5th largest (disclosed) transaction.
  • This is Irving Place Capital’s 28th transaction in the United States.
  • This is Irving Place Capital’s 1st transaction in Missouri.
Investment Fate
  • Victor Technologies International was sold to a publicly-traded strategic buyer in 2014 for 947M USD.

M&A Deal Summary

Date 2010-10-08
Target Victor Technologies International
Sector Machinery
Buyer(s) Irving Place Capital
Sellers(s) Lewis & Clark Capital
Deal Type Going Private
Deal Value 422M USD
Advisor(s) Oppenheimer & Co. (Financial)
Bryan Cave Leighton Paisner LLP (Legal)

Target

Victor Technologies International

St. Louis, Missouri, United States
Victor Technologies is designer and manufacturer of branded cutting and welding products and accessories. The company competes globally in six product categories - gas equipment, arc accessories, plasma cutting systems, welding equipment, filler metals, and hardfacing alloys - under a number of premium brand names, including Victor, Tweco, Arcair, Thermal Dynamics, Thermal Arc, Stoody, and Cigweld.

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Buyer(S) 1

Buyer

Irving Place Capital

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1997
PE ASSETS 4.4B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Irving Place Capital (formerly Bear Stearns Merchant Banking) is an independent private equity firm focused on making investments in middle-market companies located in North America and Western Europe. Irving primarily looks for opportunities in the retail, financial services, consumer products and packaging sectors, but will also consider investments in other traditional and service based businesses such as restaurants, transportation/logistics, healthcare, energy, and industrial products/services. The Firm's target investment size is $50 to $250 million of equity capital and EBITDA in excess of $7 million. Prospective transaction situations include traditional management buyouts, growth capital financings, divestitures, consolidations, and recapitalizations. Irving Place is based in New York City.


DEAL STATS #
Overall 37 of 49
Sector (Machinery) 1 of 1
Type (Going Private) 2 of 2
State (Missouri) 1 of 2
Country (United States) 28 of 40
Year (2010) 3 of 4
Size (of disclosed) 5 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-08-12 Pet Supplies Plus

Livonia, Michigan, United States

Pet Supplies Plus is a pet specialty retailer in the United States by total system sales, providing a wide variety of pet food, treats, hard goods and services for dogs, cats, and small animals. Pet Supplies Plus was founded in 1988 and is based in Livonia, Michigan.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2010-12-01 Alpha Packaging

St. Louis, Missouri, United States

Alpha Packaging is a manufacturer of rigid plastic bottles and jars primarily for the nutritional, pharmaceutical, and personal care markets. Alpha Packaging is based in St. Louis, Missouri.

Buy -

Seller(S) 1

DESCRIPTION

FTL Capital is a private investment firm focused on partnering with management teams to pursue acquisitions of profitable US-based companies with up to $100 million in revenues. FTL has a preference for family-owned companies with strong business models, differentiated products/services, and significant opportunities for growth. Sectors of interest include industrial products/services, business services, financial services, real estate, technology, and food. FTL Capital was formed in 2001 and is based in St. Louis, Missouri.


DEAL STATS #
Overall 4 of 6
Sector (Machinery) 1 of 1
Type (Going Private) 1 of 1
State (Missouri) 1 of 2
Country (United States) 4 of 6
Year (2010) 1 of 1
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-09-01 Valley Minerals

Clayton, Missouri, United States

Valley Minerals is a stocking manufacturer of Dolomitic Quicklime. The product line of packaged products in 50-pound bags and super sacks including; Art slag, ASA-1, Dolomitic lime, Hi Calcium lime, Zirmag, Zircon Sand, and other minerals and sands. Valley Minerals was founded in 1926 and is based in Clayton, Missouri.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-06-22 Flextrude Aluminum Shapes

Sanford, Florida, United States

Flextrude Aluminum Shapes is a full-service aluminum extrusions business serving customers in building products, distribution, storm protection and industrial end-markets. With over 60 years of industry experience, Flextrude demonstrates excellent manufacturing capabilities, customer service and commitment to quality. Flextrude Aluminum Shapes is based in Sanford, Florida.

Buy -