M&A Deal Summary

Kohlberg & Company Acquires Area Wide Protective

On December 23, 2020, private equity firm Kohlberg & Company acquired safety/security company Area Wide Protective from The Riverside Company, Audax Private Debt, Apogem Capital and Antares Capital

Acquisition Highlights
  • This is Kohlberg & Company’s 1st transaction in the Safety/Security sector.
  • This is Kohlberg & Company’s 69th transaction in the United States.
  • This is Kohlberg & Company’s 5th transaction in Ohio.

M&A Deal Summary

Date 2020-12-23
Target Area Wide Protective
Sector Safety/Security
Buyer(s) Kohlberg & Company
Sellers(s) The Riverside Company
Audax Private Debt
Apogem Capital
Antares Capital
Deal Type Secondary Buyout

Target

Area Wide Protective

North Canton, Ohio, United States
Area Wide Protective is a provider of professional traffic control design and execution services in support of utility infrastructure maintenance and construction activity. Area Wide Protective was founded in 1993 and is based in North Canton, Ohio.

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Buyer(S) 1

Buyer

Kohlberg & Company

Mount Kisco, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1987
PE ASSETS 11.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Kohlberg & Company is a private equity firm which acquires middle-market companies with consistent cash flow, and underperforming companies with operational deficiencies. Kohlberg looks to commit $100 to $500 million of equity capital in opportunities valued from $200 million to $2 billion. Kohlberg generally looks for opportunities in the manufacturing and service sectors, however the Firm will also selectively consider businesses in food and healthcare. Kohlberg tends not to consider technology or communications companies. Kohlberg & Company was formed in 1987 and has offices in Mt. Kisco, New York.


DEAL STATS #
Overall 71 of 79
Sector (Safety/Security) 1 of 1
Type (Secondary Buyout) 25 of 32
State (Ohio) 5 of 5
Country (United States) 69 of 77
Year (2020) 4 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-10-01 Parts Authority

Rockville Centre, New York, United States

Parts Authority is an automotive aftermarket replacement parts distribution platform serving the do-it-for-me and do-it yourself e-commerce channels of the automotive aftermarket. Parts Authority was founded in 1972 and is headquartered in Rockville Centre, New York.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-05-17 DecoPac

Anoka, Minnesota, United States

DecoPac is a provider of cake decorations to professional cake decorators and bakeries. DecoPac's proprietary technologies and extensive portfolio of licenses allows customers to provide customized baked goods with short turnaround times, while in-store kiosks and online ordering software make it easy for consumers to order cakes anytime and anywhere. DecoPac was established in 1982 and is based in Anoka, Minnesota.

Buy -

Seller(S) 4

SELLER

The Riverside Company

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1988
PE ASSETS 5.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

The Riverside Company is a global private equity firm that seeks investments in profitable lower middle-market companies valued under $400 million. Riverside looks to invest in growth businesses headquartered in North America, Europe, and Asia (primarily Japan and South Korea), that have been in operation for at least five years. Riverside targets investments in a wide array of industries including distribution, automotive, healthcare, education, manufacturing, software, consumer services, plastics, publishing, food, communications, marine, and business services. Riverside was formed in 1988 and is based in New York City.


DEAL STATS #
Overall 164 of 191
Sector (Safety/Security) 2 of 3
Type (Secondary Buyout) 64 of 77
State (Ohio) 8 of 11
Country (United States) 116 of 133
Year (2020) 8 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-12-22 Sunrise Windows & Doors

Temperance, Michigan, United States

Sunrise Windows & Doors is a manufacturer and distributor of premium-priced, energy-efficient, custom replacement vinyl windows and patio doors, distributing its products through specialty window dealers, home improvement contractors, and building products distributors. Sunrise Windows & Doors was founded in 1994 and is based in Temperance, Michigan.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-01-05 UniFocus

Carrollton, Texas, United States

UniFocus is a SaaS-based labor management solution for service industry providers. UniFocus delivers a complex rules-based workforce management software suite designed to address the specific needs of scheduling, managing, and optimizing labor for hotels, restaurants, and customers in other labor-intensive end-markets. UniFocus was founded in 1977 and is based in Carrollton, Texas.

Buy -
SELLER

Audax Private Debt

New York, New York, United States

Investor Investor Investor Investor Investor


Category Mezzanine Finance Firm
Founded 2000
PE ASSETS 5.4B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Audax Mezzanine is the mezzanine finance arm of the Audax Group. The Firm focuses on investing in both private and public, US-based middle market companies with a strong history of cash flows and consistent revenue growth. Audax will consider subordinated mezzanine debt commitments, second lien or junior secured debt, preferred stock and common stock. The Firm seeks to invest in companies valued between $10 and $60 million. Types of transaction include MBOs, LBOs, growth capital financings, acquisition financings, and recapitalizations.


DEAL STATS #
Overall 47 of 51
Sector (Safety/Security) 3 of 3
Type (Secondary Buyout) 22 of 24
State (Ohio) 8 of 8
Country (United States) 47 of 51
Year (2020) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-06-05 Crom

Gainesville, Florida, United States

Crom is a provider of pre-stressed concrete water tank design and construction services to water and wastewater customers primarily in the southeastern United States and select international locations. Crom has built more than 4,000 tanks for municipalities and private sector customers. With tank capacities ranging from a few hundred thousand gallons to several million gallons, crom tanks are suitable for diverse functions including potable and reuse water storage, wastewater treatment, thermal storage, flow equalization, and industrial storage and treatment. Crom was founded in 1953 and is based in Gainesville, Florida.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-02-22 Backstage

Brooklyn, New York, United States

Backstage is an operator of a professional platform that connects actors, singers, dancers, comedians, voiceover artists, variety performers, and crew members with gigs and works with casting directors and content creators to help them find top industry talent. Backstage was founded in 1960 and is based in Brooklyn, New York.

Buy -
SELLER

Apogem Capital

Chicago, Illinois, United States

Category Asset Manager
Founded 2001
PE ASSETS 39.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Apogem Capital is a diversified alternative investment manager and subsidiary of insurance provider, New York Life. Apogem manages a variety of investment strategies including private equity, private credit, and real assets. Within private equity, the Firm looks to make fund, direct, and secondary investments, as well as acquire GP stakes. Within its direct investing activity, Apogem targets mid-sized companies valued up to $250 million and will consider businesses throughout North America and Europe. Apogem Capital formed as the result of New York Life combining PA Capital, Madison Capital Funding, and Goldpoint Partners into one entity. Apogem Capital is based in New York City.


DEAL STATS #
Overall 40 of 52
Sector (Safety/Security) 3 of 3
Type (Secondary Buyout) 18 of 25
State (Ohio) 2 of 6
Country (United States) 40 of 52
Year (2020) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-12-01 A&E Medical

Farmingdale, New Jersey, United States

A&E Medical Corp. is a designer and manufacturer of a high strength sternum closure system along with a wide variety of temporary cardiac pacing wires and extension leads, stainless steel sutures, surgical punches, electrosurgical instruments, and neurosurgical scalp clips. A&E Medical was founded in 1968 and is based in Farmingdale, New Jersey.

Sell $250M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-07-07 DirectMed Imaging

Poway, California, United States

DirectMed Imaging is a provider of medical imaging aftermarket parts, systems, and field service solutions. DirectMed Imaging was founded in 2011 and is based in Poway, California.

Buy -
SELLER

Antares Capital

Miami, Florida, United States

Investor Investor


Category Private Equity Firm
Founded 1993
Size Small
Type Sector Agnostic
DESCRIPTION

Antares Capital is a private investment group that targets growth capital financings as well as management buyout opportunities. The Firm focuses on investments based in the Southeast US and Texas. Prospective companies generally have proven business models, modest capital requirements for growth, and operate in large and growing markets. The Firm looks to commit $500k to $5 million per investment. Antares will not invest in real estate, mineral exploration, distributors, franchisees, or project financings. Antares was founded in 1993 and is based in Miami, Florida.


DEAL STATS #
Overall 36 of 44
Sector (Safety/Security) 2 of 2
Type (Secondary Buyout) 10 of 13
State (Ohio) 4 of 5
Country (United States) 35 of 43
Year (2020) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-11-24 Dimora Brands

Somerville, New Jersey, United States

Dimora Brands is a designer, distributor, and manufacturer of decorative hardware, functional hardware, and other products for the kitchen and bath industries. Dimora Brands was founded in 1994 and is headquartered in Somerville, New Jersey.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-02-16 Hygiena

Camarillo, California, United States

Hygiena LLC is a microbiology and life science company that serves industrial food processors, healthcare institutions, life science researchers and the general public. The Company manufactures and sells a broad range of rapid hygiene monitoring systems, environmental collection systems and rapid dilution devices. Its products are distributed in over 50 countries worldwide. Hygiena was formed in 2000 and is headquartered in the United States in Camarillo, California with a satellite office in the United Kingdom.

Sell -