M&A Deal Summary

Jungheinrich Acquires Storage Solutions

On January 25, 2023, Jungheinrich acquired real estate company Storage Solutions from MFG Partners and Merit Capital Partners for 375M USD

Acquisition Highlights
  • This is Jungheinrich’s 1st transaction in the Real Estate sector.
  • This is Jungheinrich’s largest (disclosed) transaction.
  • This is Jungheinrich’s 1st transaction in the United States.
  • This is Jungheinrich’s 1st transaction in Indiana.

M&A Deal Summary

Date 2023-01-25
Target Storage Solutions
Sector Real Estate
Buyer(s) Jungheinrich
Sellers(s) MFG Partners
Merit Capital Partners
Deal Type Add-on Acquisition
Deal Value 375M USD
Advisor(s) Baird (Financial)
Goodwin Procter (Legal)

Target

Storage Solutions

Westfield, Indiana, United States
Storage Solutions is a warehouse integrator that provides solutions for material handling and industrial storage equipment, including design, equipment procurement, and installation. Storage Solutions was founded in 1978 and is based in Westfield, Indiana.

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Buyer(S) 1

Buyer

Jungheinrich

Hamburg, Germany

Category Company
Founded 1953
Sector Machinery
Employees20,871
Revenue 5.5B EUR (2023)
DESCRIPTION

Jungheinrich is a provider of intralogistics solutions, Jungheinrich has been advancing the development of innovative and sustainable products and solutions for material flows. Jungheinrich was founded in 1953 and is based in Hamburg, Germany.


DEAL STATS #
Overall 1 of 1
Sector (Real Estate) 1 of 1
Type (Add-on Acquisition) 1 of 1
State (Indiana) 1 of 1
Country (United States) 1 of 1
Year (2023) 1 of 1
Size (of disclosed) 1 of 1

Seller(S) 2

SELLER
DESCRIPTION

MFG Partners acquires controlling stakes in founder and family-owned industrial, manufacturing, distribution, and business services companies valued from $25 to $100 million. MFG will consider opportunities throughout North America and looks to collaborate with existing company leadership to identify and execute on growth opportunities and operational initiatives. MFG Partners was formed in 2016 and is headquartered in New York City.


DEAL STATS #
Overall 2 of 2
Sector (Real Estate) 1 of 1
Type (Add-on Acquisition) 2 of 2
State (Indiana) 1 of 1
Country (United States) 2 of 2
Year (2023) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-11-17 CST Utilities

Grove city, Ohio, United States

CST Utilities is a turnkey infrastructure service company providing a range of complementary underground services including excavation, boring, drain cleaning, and other pumping services to public utilities, telecom providers, and other businesses. CST Utilities was founded in 1969 and is based in Grove city, Ohio.

Buy -
SELLER

Merit Capital Partners

Chicago, Illinois, United States

Investor Investor Investor Investor Investor


Category Mezzanine Finance Firm
Founded 1993
PE ASSETS 2.2B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Merit Capital Partners is a private investment firm that targets investments in middle market manufacturing, distribution, and service based businesses. Merit looks for companies generating at least $25 million in sales and at least $4 million in EBITDA. Merit can provide both equity and junior capital financing and looks to commit at least $15 million per transaction. Prospective transaction situations include management buyouts, recapitalizations, growth financings, divestitures, unsponsored transactions, and ESOPs. Merit Capital will not invest in start-ups, turnarounds, real estate, specialty retail, or oil/gas opportunities. Merit Capital was originally known as William Blair Mezzanine Capital and became independent in 2004. Merit was formed in 1993 and is based in Chicago, Illinois.


DEAL STATS #
Overall 52 of 52
Sector (Real Estate) 1 of 1
Type (Add-on Acquisition) 27 of 27
State (Indiana) 2 of 2
Country (United States) 51 of 51
Year (2023) 1 of 1
Size (of disclosed) 1 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-12-07 Good Giant

Mobile, Alabama, United States

Good Giant provides comprehensive marketing services with a focus on casino resorts, as well as select brands in consumer packaged goods, finance and tech. Good Giant was founded in 1977 and is based in Mobile, Alabama.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-02-23 Circuit Check

Maple Grove, Minnesota, United States

Circuit Check is a provider of electronic test equipment and services to OEMs and contract manufacturers in the technology, medical and industrial and markets. Circuit Check was founded in 1979 and is based in Maple Grove, Minnesota.

Buy -