M&A Deal Summary

Kinderhook Industries and Maranon Capital Acquire PartsASAP

On May 21, 2018, private equity firm Kinderhook Industries and mezzanine finance firm Maranon Capital acquired retailer PartsASAP

Acquisition Highlights
  • This is Kinderhook Industries’ 1st and Maranon Capital’s 1st transaction in the Retail sector.
  • This is Kinderhook Industries’ 36th and Maranon Capital’s 28th transaction in the United States.
  • This is Kinderhook Industries’ 1st and Maranon Capital’s 1st transaction in Iowa.

M&A Deal Summary
Date 2018-05-21
Target PartsASAP
Sector Retail
Buyer(s) Kinderhook Industries
Maranon Capital
Deal Type Recapitalization

Target

PartsASAP

De Soto, Iowa, United States
PartsASAP is a supplier of used, rebuilt and aftermarket parts (collectively, “Alternative Parts”) for all makes and models of tractors, combines, and other farm machinery. The Company is a buyer of salvage agriculture equipment in the U.S. and maintains an extensive inventory of parts to support all OEM brands. ASAP provides a compelling value proposition to its customers based upon the price, availability, and warranty on its parts. PartsASAP was founded in 1998 and is based in De Soto, Iowa.

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Buyer(S) 2

Buyer

Kinderhook Industries

New York, New York, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2003
PE ASSETS 5.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Kinderhook Industries targets control investments in companies valued between $25 to $250 million. Prospective transaction situations include acquiring non-core divisions of public companies, existing small capitalization companies lacking institutional support, management buyouts of entrepreneurial-owned businesses, and troubled companies. Sectors of interest include consumer products and services, media, packaging, industrial products, communications, and business services. Kinderhook Industries was formed in 2003 and is based in New York, New York.

DEAL STATS #
Overall 37 of 63
Sector (Retail) 1 of 2
Type (Recapitalization) 2 of 9
State (Iowa) 1 of 1
Country (United States) 36 of 61
Year (2018) 5 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-04-13 Black Widow

Trussville, Alabama, United States

Black Widow is an OEM authorized specialty vehicle manufacturer for light-duty trucks. The Company receives new vehicles directly from the OEMs, adds specialty packages, and then sells the up-fitted vehicles to new truck dealers with a full OEM warranty. Black Widow is headquartered in Trussville, Alabama.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-08-31 VirTrial

Scottsdale, Arizona, United States

VirTrial is a provider of software solutions for remote site startup and decentralized clinical trial conduct. VirTrial was founded in 2018 and is based in Scottsdale, Arizona.

Buy -
Buyer

Maranon Capital

Chicago, Illinois, United States

Investor Investor Investor Investor Investor

Category Mezzanine Finance Firm
Founded 2007
PE ASSETS 4.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Maranon Capital LP is an investment firm that provides senior financing, mezzanine debt and equity co-investments for private equity backed and non sponsored middle market companies. Maranon seeks investments in financially healthy businesses with stable cash flows, diverse customers, and strong management. Prospective companies are valued between $30 and $150 million and generate $5 to $30 million of EBITDA. Maranon looks to invest $2 to $10 million for equity co-investments, $5 to $30 million for junior capital needs, and $10 to $50 million for senior debt requirements. Areas of interest include business services, healthcare services, distribution, manufacturing and consumer products/services. Funds typically support acquisitions, recapitalizations, refinancings, consolidations, ESOPs and growth capital needs. Maranon Capital LP was formed in 2007 and is based in Chicago. The Firm has additional offices in Birmingham, Michigan and South Bend, Indiana.

DEAL STATS #
Overall 29 of 38
Sector (Retail) 1 of 1
Type (Recapitalization) 3 of 5
State (Iowa) 1 of 1
Country (United States) 28 of 37
Year (2018) 3 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-04-17 Tax Guard

Westminster, Colorado, United States

Tax Guard is a provider of data and services that help lenders accurately assess tax-related credit risk associated with potential borrowers. Tax Guard was founded in 2009 and is based in Westminster, Colorado.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-08-08 KPA

Lafayette, Colorado, United States

KPA is a provider of cloud-based EHS risk management solutions for the automotive, collision repair, manufacturing, insurance, and distribution & logistics industries. KPA’s innovative software platform combined with recurring on-site audit/loss control services delivers a comprehensive solution that helps 10,000+ client locations achieve regulatory compliance; control risk; protect assets; and effectively train, retain, and manage people. KPA was founded in 1986 and is based in Lafayette, Colorado.

Sell -
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