Investment Summary

TGF Management, Keyes Capital and BlackRock Capital Investment Exits M&M Manufacturing

On February 24, 2015, MiTek Industries invested in manufacturer M&M Manufacturing from TGF Management, Keyes Capital and BlackRock Capital Investment

Investment Highlights
  • This is MiTek Industries’ 1st transaction in the Manufacturing sector.
  • This is MiTek Industries’ 6th transaction in the United States.
  • This is MiTek Industries’ 1st transaction in Texas.
Investment Fate
  • M&M Manufacturing was divested to a consortium of buyers in 2015.

Investment Summary

Date 2015-02-24
Target M&M Manufacturing
Sector Manufacturing
Investor(s) MiTek Industries
Sellers(s) TGF Management
Keyes Capital
BlackRock Capital Investment
Deal Type Add-on Acquisition

Target

M&M Manufacturing

Fort Worth, Texas, United States
M&M Manufacturing is a diversified sheet metal fabricator of round, rectangular, spiral and oval HVAC duct pipe and fittings for residential and commercial applications. M&M also offers general sheet metal products for roofing, ventilating, and architectural applications. M&M Manufacturing was founded in 1958 and is based in Fort Worth, Texas.

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Investor(S) 1

Investor

MiTek Industries

Chesterfield, Missouri, United States

Category Company
Sector Building Materials
DESCRIPTION

MiTek, headquartered in Chesterfield, Missouri, is a supplier of advanced engineered structural connector systems, equipment, software and services for the building components industry.


DEAL STATS #
Overall 7 of 13
Sector: Manufacturing M&A 1 of 1
Type: Add-on Acquisition M&A Deals 5 of 11
State: Texas M&A 1 of 1
Country: United States M&A 6 of 11
Year: 2015 M&A 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-04-03 Ellis & Watts Global Industries

Batavia, Ohio, United States

Ellis & Watts is a in the engineering, design, and fabrication of highly customized HVAC and other products sold into the nuclear, military, and other industrial end markets.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-04-22 BuilderMT

Lakewood, Colorado, United States

BuilderMT LLC is a provider of workflow process management software to the residential home building market, serving both single family and multi-family builders.

Buy -

Seller(S) 3

SELLER

TGF Management

Austin, Texas, United States

Category Private Equity Firm
Founded 1992
PE ASSETS 700M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

TGF Management is a private equity firm focused on management buyouts and recapitalizations of profitable, middle-market companies generating sales of $50 to $250 million and EBITDA of $5 of $25 million. Areas of interest include manufacturing, distribution, construction, industrial service, outsourced business services, food, and consumer products. TGF's target investment size is $25 to $100 million and the Firm's geographic focus is on opportunities in the Southwest US. TGF will not invest in oil/gas exploration and production companies, real estate, and businesses with 'significant technology risk'. TGF Management was formed in 1992 and is based in Austin, Texas.


DEAL STATS #
Overall 16 of 18
Sector: Manufacturing M&A 1 of 1
Type: Add-on Acquisition M&A Deals 8 of 8
State: Texas M&A 11 of 12
Country: United States M&A 16 of 18
Year: 2015 M&A 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-12-11 Magnablend

Waxahachie, Texas, United States

Magnablend, Inc. is a provider of custom chemical manufacturing, blending, and packaging solutions.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-06-02 ENTACT

Westmont, Illinois, United States

ENTACT is a provider of environmental field remediation services to customers throughout the United States and in select international locations. ENTACT was founded in 1991 and is based in Westmons, Illinois.

Sell -
SELLER

Keyes Capital

Austin, Texas, United States

Category Family Office
Size Small
Type Sector Agnostic
DESCRIPTION

Keyes Capital is a private investment firm that focused on acquiring smaller businesses (at least $3 million revenue) in Texas, South Carolina, and Wisconsin. Keyes targets companies with defensible market positions, unique products or processes, predictable earnings ($1 to $3 million of EBITDA), valued from $2 to $20 million. Areas of interest include automotive, business services, construction, energy/HVAC, financial services, niche manufacturing, office products, telecommunications and utilities. The Firm will consider a variety of transaction situations, including management-led buyouts, generational changes of ownership, recapitalizations, corporate divestitures, and late-stage growth equity. Keyes Capital is based in Austin, Texas with additional offices in Charleston and Milwaukee.


DEAL STATS #
Overall 1 of 1
Sector: Manufacturing M&A 1 of 1
Type: Add-on Acquisition M&A Deals 1 of 1
State: Texas M&A 1 of 1
Country: United States M&A 1 of 1
Year: 2015 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2009-12-07 Shield Air Solutions

Houston, Texas, United States

Shield Air Solutions is a global provider of custom-designed and manufactured severe-duty, explosion-proof air conditioners and explosion-proof fans for industrial and hazardous location applications. Shield Air Solutions was formed in 1960 and is based in Houston, Texas.

Buy -
SELLER

BlackRock Capital Investment

New York, New York, United States

Investor Investor Investor Investor Investor


Category Business Development Company
Founded 2005
PE ASSETS 1.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

BlackRock Capital Investment is a publicly traded business development company (BDC) that provides middle-market companies with a variety of financing solutions. This includes senior and junior secured, unsecured and subordinated debt securities and loans, as well as equity. BlackRock Capital targets profitable companies with strong management and defensible market positions that may be underserved by traditional lending sources. The Firm looks to commit $10 to $50 million in businesses generating $10 to $50 million of EBITDA. BlackRock was formed in 2005 by BlackRock and Kelso & Company. The Firm has offices in New York City and Chicago.


DEAL STATS #
Overall 9 of 23
Sector: Manufacturing M&A 2 of 2
Type: Add-on Acquisition M&A Deals 2 of 4
State: Texas M&A 1 of 2
Country: United States M&A 9 of 21
Year: 2015 M&A 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-11-20 Attachmate

Seattle, Washington, United States

Attachmate Corp. is a provider of advanced software for terminal emulation, legacy modernization, managed file transfer and enterprise fraud management.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-06-19 Royal Adhesives & Sealants

South Bend, Indiana, United States

Royal Adhesives & Sealants LLC is a producer of proprietary, high-performance adhesives and sealants. Royal offers a broad range of specialty formulated products designed to solve complex bonding, laminating and sealing applications across a diverse range of markets including aerospace and defense, construction, specialty packaging, automotive and industrial.

Sell -