M&A Deal Summary

J2 Partners, Harbert Private Capital and Patriot Capital Acquire ISS

On August 1, 2008, private equity firms J2 Partners, Harbert Private Capital and Patriot Capital acquired automotive company ISS

Acquisition Highlights
  • This is J2 Partners’ 1st, Harbert Private Capital’s 3rd and Patriot Capital’s 2nd transaction in the Automotive sector.
  • This is J2 Partners’ 3rd, Harbert Private Capital’s 26th and Patriot Capital’s 21st transaction in the United States.
  • This is J2 Partners’ 1st, Harbert Private Capital’s 1st and Patriot Capital’s 1st transaction in Oregon.

M&A Deal Summary

Date 2008-08-01
Target ISS
Sector Automotive
Buyer(s) J2 Partners
Harbert Private Capital
Patriot Capital
Deal Type Recapitalization
Advisor(s) Variant Capital Advisors LLC (Financial)

Target

ISS

Portland, Oregon, United States
ISS is a manufacturing, remanufacturing, and distribution company, that provides product and service solutions for electromechanical components to customers in the automotive, transportation, industrial equipment, and electronic industries. Instrument Sales and Service was founded in 1949 and is based in Portland, Oregon.

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Buyer(S) 3

Buyer

J2 Partners

Boulder, Colorado, United States

Investor Investor


Category Private Equity Firm
Size Small
Type Sector Agnostic
DESCRIPTION

J2 Partners is a private equity group focused on acquiring smaller companies operating in basic industries. J2 seeks opportunities in manufacturing, distribution and business services companies that are leaders in their defined markets. Prospective businesses are generally located in the Western United States and have $10 million to $50 million in enterprise value and in revenue at least $2 million to $10 million in operating cash flow. The Firm looks to fund management buyouts, recapitalizations, corporate divestitures, take privates, and succession sales. J2 Partners is based in Boulder, Colorado.


DEAL STATS #
Overall 3 of 4
Sector (Automotive) 1 of 1
Type (Recapitalization) 1 of 2
State (Oregon) 1 of 1
Country (United States) 3 of 4
Year (2008) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-08-23 Genesee Group

Portland, Tennessee, United States

Genesee Group is a custom fabricator and stamper of precision metal components used in a wide variety of industries, ranging from aerospace and automotive to telecom and consumer products. Genesee is best known for its engineering, tooling, and die manufacturing capabilities. Genesee Group was founded in 1997 and is based in Portland, Tennessee.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-12-05 eSoft

Broomfield, Colorado, United States

eSoft is an industry leader in providing better network security to small and medium-sized businesses. The company has developed the award-winning and unified threat management market-leading InstaGate and ThreatWall security appliances.

Sell -
Buyer

Harbert Private Capital

Birmingham, Alabama, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1985
PE ASSETS 4.7B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Harbert Private Equity and Mezzanine is a private equity arm of Harbert Management Corp. The Private Equity group targets leveraged buyouts, recapitalizations, expansion capital investments, and distressed situations. The firm targets opportunities across a range of industries and typical transactions have enterprise values between A$10 and A$100 million. The Mezzanine Capital group seeks subordinated debt investments and can commit $3 to $15 million per transaction. . Harbert Management Corporation was formed in 1985 and has offices in Birmingham, Alabama; New York, New York; Nashville, Tennessee; Richmond, Virginia; London; Madrid; Paris; and Melbourne.


DEAL STATS #
Overall 26 of 60
Sector (Automotive) 3 of 3
Type (Recapitalization) 7 of 9
State (Oregon) 1 of 1
Country (United States) 26 of 54
Year (2008) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2008-07-02 Global Connection

Atlanta, Georgia, United States

Global Connection Inc. of America is a direct marketing company selling prepaid wireline phone and other services to low-income consumers with poor credit. Global Connection was founded in 1998 and is based in Atlanta, Georgia.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2009-01-12 Winnercomm Holdings

Tulsa, Oklahoma, United States

Winnercomm Holdings, Inc. provides a range of services including television program production, television remote event production, website management and advertising sales, television advertising sales, advertising agency, rights management and content storage and editing. Winnercomm also owns Skycam and CableCam, aerial camera systems that utilize a camera suspended above the field to provide overhead video of sporting events.

Sell -
Buyer

Patriot Capital

Baltimore, Maryland, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Size Large
Type Sector Agnostic
DESCRIPTION

Patriot Capital is a private investment firm that provides equity and junior capital to support acquisitions, growth capital financings, management buyouts, and recapitalizations of middle-market companies. The Firm looks to invest $5 to $25 million in businesses generating revenues of $10 to $200 million. Areas of interest include business and consumer services, consumer products, niche manufacturing and distribution, education, e-commerce, application software, transportation, and telecom services. Patriot focuses its investment activity with the Mid-Atlantic, Midwest, and Southern areas of the US. Patriot Capital is based in Baltimore, Maryland.


DEAL STATS #
Overall 21 of 108
Sector (Automotive) 2 of 6
Type (Recapitalization) 4 of 19
State (Oregon) 1 of 2
Country (United States) 21 of 108
Year (2008) 4 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2008-07-03 PW Stephens Environmental

Loomis, California, United States

PW Stephens Environmental, Inc. is an abatement contractor. The Company offers asbestos and lead paint removal, mold remediation, emergency response, duct cleaning, decontamination, and hazardous waste management services to residential, commercial, and industrial customers. PW Stephens Environmental was established in 1982 and is based in Loomis, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2008-08-21 AWS Convergence Technologies

Germantown, Maryland, United States

AWS Convergence Technologies, Inc., which operates under the brand name Weatherbug, owns and operates the largest network of weather stations in the world. This live network gathers comprehensive, up-to-the-second weather information from more than 6,200 communities and powers the company's various products and services.

Buy -