M&A Deal Summary

Koch Industries Acquires Depcom Power

On November 30, 2021, Koch Industries acquired engineering company Depcom Power from Sorenson Capital

Acquisition Highlights
  • This is Koch Industries’ 1st transaction in the Engineering sector.
  • This is Koch Industries’ 11th transaction in the United States.
  • This is Koch Industries’ 1st transaction in Arizona.

M&A Deal Summary

Date 2021-11-30
Target Depcom Power
Sector Engineering
Buyer(s) Koch Industries
Sellers(s) Sorenson Capital
Deal Type Add-on Acquisition
Advisor(s) GreenbergTraurig (Legal)

Target

Depcom Power

Scottsdale, Arizona, United States
Depcom Power is a development support, engineering procurement & construction (EPC), and operations & maintenance (O&M) services provider for the Utility-Scale Solar industry. Depcom Power was founded in 2013 and is based in Scottsdale, Arizona.

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Buyer(S) 1

Buyer

Koch Industries

Wichita, Kansas, United States

Category Company
Founded 1940
Sector Diversified
Employees60,000
Revenue 115.0B USD (2012)
DESCRIPTION

Koch Industries owns a diverse group of companies engaged in refining and chemicals; fibers and polymers; commodity and financial trading; and forest and consumer products. Koch Industries was formed in 1940 and is based in Wichita, Kansas.


DEAL STATS #
Overall 13 of 14
Sector (Engineering) 1 of 1
Type (Add-on Acquisition) 11 of 11
State (Arizona) 1 of 1
Country (United States) 11 of 12
Year (2021) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-06-01 Transaction Network Services

Reston, Virginia, United States

Transaction Network Services is a provider of fast, reliable data communications services for transaction-oriented applications. TNS combines innovation, advanced technology, and industry expertise to provide a range of authorization and communications solutions to support the credit card and ATM transaction processing industry. The Company also provides secure and highly reliable data network services to the telecommunications and securities industries. Transaction Network Services was formed in 1990 and is based in Reston, Virginia.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-12-09 Knight Material Technologies

East Canton, Ohio, United States

Knight Material Technologies designs, manufactures, installs, and repairs custom acid-resistant linings used in highly corrosive processes for the chemical and mining industries. Knight Material Technologies was founded in 1910 and is based in East Canton, Ohio.

Sell -

Seller(S) 1

SELLER

Sorenson Capital

Lehi, Utah, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2003
PE ASSETS 1.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Sorenson Capital is a private equity firm that seeks to support buyout and growth capital financings of lower middle-market companies. Sorenson invests across a broad range of industries and generally pursues companies with significant market share, high barriers to entry, fragmented industry competition, motivated managment, and sustainable pricing and profit margins. Target businesses typically have sales of $30 to $300 million with earnings of $3 to $25 million. Sorenson's geographic preference is for opportunities in the Mountain West and West Coast regions of the US. Sorenson raised its inaugural fund in 2004 and is based in Salt Lake City, Utah.


DEAL STATS #
Overall 26 of 29
Sector (Engineering) 1 of 1
Type (Add-on Acquisition) 15 of 16
State (Arizona) 3 of 3
Country (United States) 25 of 28
Year (2021) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-07-21 Couchbase

Santa Clara, California, United States

Couchbase provides a non-relational database platform suited to handle the massive volumes of unstructured data created by companies in the digital economy. Couchbase was founded in 2008 and is based in Santa Clara, California.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-03-21 RTC Aerospace

Chatsworth, California, United States

RTC Aerospace is a provider of precision manufacturing of hydraulic landing and other precision components to aerospace and defense customers. RTC Aerospace was formed in 1957 and is based in Chatsworth, California.

Sell -