M&A Deal Summary

Kilroy Partners and Source Capital Acquire AE Tools & Computers

On March 1, 2022, private equity firms Kilroy Partners and Source Capital acquired automotive company AE Tools & Computers

Acquisition Highlights
  • This is Kilroy Partners’ 2nd and Source Capital’s 1st transaction in the Automotive sector.
  • This is Kilroy Partners’ 6th and Source Capital’s 33rd transaction in the United States.
  • This is Kilroy Partners’ 1st and Source Capital’s 1st transaction in Kansas.

M&A Deal Summary
Date 2022-03-01
Target AE Tools & Computers
Sector Automotive
Buyer(s) Kilroy Partners
Source Capital
Deal Type Buyout (LBO, MBO, MBI)

Target

AE Tools & Computers

Olathe, Kansas, United States
AE Tools & Computers is a distributor of OEM-level diagnostic tools to the aftermarket car and heavy-duty truck repair markets. The Company’s customers include independent repair shops, auto parts stores, locksmiths, collision centers and used car dealers. AE Tools & Computers was founded in 2005 and is based in Olathe, Kansas.

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Buyer(S) 2

Buyer

Kilroy Partners

Category Private Equity Firm
Founded 2014
Size Small
Type Sector Agnostic
DESCRIPTION

Kilroy Partners is a private investment firm focused on investing in lower middle-market, family-owned businesses, corporate divestitures, and other non-performing or challenged companies. The Firm will consider opportunities throughout North America valued up to $75 million. Sectors of interest include aerospace, defense, niche manufacturing, food, and transportation. Kilroy Partners was formed in 2014 and is headquartered in Boca Raton, Florida.

DEAL STATS #
Overall 6 of 6
Sector (Automotive) 2 of 2
Type (Buyout (LBO, MBO, MBI)) 4 of 4
State (Kansas) 1 of 1
Country (United States) 6 of 6
Year (2022) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-05-21 Seaside Waste Services

Hammonton, New Jersey, United States

Seaside Waste Services is a provider of non-hazardous solid waste and recycling collection throughout central and southern New Jersey. Seaside services over 2,000 commercial customers and over a dozen municipalities. The company also offers dumpster rentals and roll-away services to both commercial and residential customers. Seaside Waste Services is based in Hammonton, New Jersey.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-12-06 Iowa Northern Railway

Waterloo, Iowa, United States

Iowa Northern Railway is a short line railroad. The Company operates over 250 miles of rail in northeastern Iowa, with a main line track running from Manly to Cedar Rapids (through Waterloo/Cedar Falls) as well as several branch lines that connect to the main track. The Company provides transportation to customers in agriculture, energy, and manufacturing and offers value-add services to Class I railroads. Iowa Northern Railway was established in 1984 and is based in Waterloo, Iowa.

Sell -
Buyer

Source Capital

Atlanta, Georgia, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2002
Size Small
Type Sector Agnostic
DESCRIPTION

Source Capital is a private equity firm that invests in mature, smaller companies in a variety of sectors. The Firm generally looks to support management-backed leveraged acquisitions, recapitalizations, growth financings, and various turnaround situations. Source Capital's broad industry focus includes business services, consumer, distribution/supply, healthcare, and light manufacturing. The Firm prefers control investments, but will selectively review minority situations. Target companies are typically profitable with at least $2 million in EBITDA. Source Capital will not invest in venture deals, high tech, or real estate. Source Capital was formed in 2002 and is based in Atlanta, Georgia.

DEAL STATS #
Overall 33 of 38
Sector (Automotive) 1 of 1
Type (Buyout (LBO, MBO, MBI)) 17 of 20
State (Kansas) 1 of 1
Country (United States) 33 of 38
Year (2022) 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-01-01 Amplifi

Atlanta, Georgia, United States

Amplifi is a provider of data consulting services that address the entire information value chain from strategy, solution definition and design to implementation of information management technologies and solutions. Amplifi is based in Atlanta, Georgia.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-05-19 Kitchen Brains

Stratford, Connecticut, United States

Kitchen Brains is a designer and manufacturer of fully integrated smart cooking computers, electronic controls and software solutions for commercial foodservice operations. The company brands, including (FAST.), Modularm and QPM, feature a growing number of products that incorporate KBconnectTM IoT/cloud connectivity, and can be found globally in QSRs, casual and fine dining restaurants, convenience and grocery stores, schools, hospitals, stadiums and other facilities. Kitchen Brains was founded in 1969 and is based in Stratford, Connecticut.

Buy -
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