M&A Deal Summary

K-Tec Earthmovers Acquires Ashland Industries

On March 11, 2020, K-Tec Earthmovers acquired machinery company Ashland Industries from Coastline Capital and Peninsula Capital Partners

Acquisition Highlights
  • This is K-Tec Earthmovers’ 1st transaction in the Machinery sector.
  • This is K-Tec Earthmovers’ 1st transaction in the United States.
  • This is K-Tec Earthmovers’ 1st transaction in Wisconsin.

M&A Deal Summary
Date 2020-03-11
Target Ashland Industries
Sector Machinery
Buyer(s) K-Tec Earthmovers
Sellers(s) Coastline Capital
Peninsula Capital Partners
Deal Type Add-on Acquisition

Target

Ashland Industries

Ashland, Wisconsin, United States
Ashland Industries, Inc. is a manufacturer of agricultural and commercial tractor-drawn, direct-mount and dolly-wheeled ejection scrapers and carry-all style pivoting dump scrapers used by farms and infrastructure contractors to grade and condition terrain. Ashland Industries was founded in 1953 and is based in Ashland, Wisconsin.

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Buyer(S) 1

Buyer

K-Tec Earthmovers

Rosenort, Manitoba, Canada
Category Company
Founded 2000
Sector Machinery
DESCRIPTION

K-Tec Earthmovers, Inc. is a manufacturer of pull-pan earthmoving scrapers and accessories for the construction, mining, and agriculture end-markets, among others. K-Tec Earthmovers was founded in 2000 and is based in Rosenort, Manitoba.

DEAL STATS #
Overall 1 of 1
Sector (Machinery) 1 of 1
Type (Add-on Acquisition) 1 of 1
State (Wisconsin) 1 of 1
Country (United States) 1 of 1
Year (2020) 1 of 1

Seller(S) 2

SELLER

Coastline Capital

New York, New York, United States
Category Private Equity Firm
Founded 2000
Size Small
Type Sector Agnostic
DESCRIPTION

Coastline Capital LLC is a private equity firm that invests in middle market companies located in the US and Canada. Coastline Capital focuses on companies with profitable history, positive EBITDA and strong market positions with revenues between $10 - $150 million and EBITDA of more than $3 million. Specific areas of interest include manufacturing, distribution, consumer services, restaurants and retail. The Firm will consider a variety of transaction types, including buyouts, growth capital, recapitalizations and special situations. Coastline Capital LLC was formed in 2000 and is based in Valley Stream, New York.

DEAL STATS #
Overall 2 of 2
Sector (Machinery) 1 of 1
Type (Add-on Acquisition) 2 of 2
State (Wisconsin) 1 of 1
Country (United States) 2 of 2
Year (2020) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-05-08 KSC

Phoenix, Arizona, United States

KSC is a wholesale food distributor expanding throughout the Southwest. Kellogg serves retailers, food service operators, and manufacturers through a combination of product sourcing, category management, and distribution excellence. Kellogg has unique expertise sourcing, merchandising, and distributing Hispanic foods. KSC is based in Phoenix, Arizona.

Buy -
SELLER

Peninsula Capital Partners

Southfield, Michigan, United States

Investor Investor Investor Investor Investor

Category Mezzanine Finance Firm
Founded 1995
PE ASSETS 1.9B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Peninsula Capital Partners is an investment group focused on providing a range of financing solutions to middle-market companies. The Firm is willing to be a minority or control investor and invests across the capital structure. This includes subordinated debt, preferred or common stock. For mezzanine commitments, Peninsula looks to invest $5 to $40 million. For equity transactions, Peninsula looks to invest $2 to $20 million. Peninsula is a generalist investor. Target sectors include manufacturing, industrial service, distribution, consumer products, professional services, retail, applied technology, transportation, food processing and packaging. Peninsula Capital Partners was formed in 1995 and is based in Detroit, Michigan.

DEAL STATS #
Overall 40 of 47
Sector (Machinery) 2 of 2
Type (Add-on Acquisition) 19 of 23
State (Wisconsin) 3 of 3
Country (United States) 37 of 44
Year (2020) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-01-20 Zadig & Voltaire

Paris, France

Zadig & Voltaire operates in the luxury segment of the fashion market in Europe. It currently operates approximately 200 boutiques and shop in shops over 20 countries throughout Europe, Asia and North America. Zadig & Voltaire was founded in 1995 and is based in Paris, France.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-07-01 ArcLight Dynamics

Bend, Oregon, United States

ArcLight Dynamics is a designer and manufacturer of computer numeric control (CNC) plasma cutting tables and related equipment. The Company produces cost-effective, entry-level tables for hobbyists and small businesses as well as larger cutting tables used in a variety of industrial settings such as automotive, aerospace, and manufacturing. ArcLight Dynamics is based in Bend, Oregon.

Buy -
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