M&A Deal Summary

Konza Valley Capital and Capital For Business Acquire AirWorx Construction Equipment

On July 18, 2016, private equity firms Konza Valley Capital and Capital For Business acquired distribution company AirWorx Construction Equipment from HKW

Acquisition Highlights
  • This is Konza Valley Capital’s 1st and Capital For Business’ 4th transaction in the Distribution sector.
  • This is Konza Valley Capital’s 4th and Capital For Business’ 34th transaction in the United States.
  • This is Konza Valley Capital’s 1st and Capital For Business’ 3rd transaction in Indiana.

M&A Deal Summary

Date 2016-07-18
Target AirWorx Construction Equipment
Sector Distribution
Buyer(s) Konza Valley Capital
Capital For Business
Sellers(s) HKW
Deal Type Secondary Buyout
Advisor(s) TM Capital Corp. (Financial)

Target

AirWorx Construction Equipment

Indianapolis, Indiana, United States
AirWorx Construction Equipment is a distributor of new and used construction equipment such as Aerial Work Platforms and Telehandlers for the construction and industrial markets in the Indiana, Ohio, and Kentucky regions. AirWorx Construction Equipment was founded in 1996 and is based in Indianapolis, Indiana.

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Buyer(S) 2

DESCRIPTION

Konza Valley Capital is a private investment firm focused on $1 to $3 million investments in lower middle-market Midwestern US-based companies operating in traditional industries. Konza looks to support a variety of transaction situations including capital for acquisitions, growth, ownership transitions, and turnarounds. Broad areas of interest include manufacturing, services, distribution, retail and technology related industries. Konza Valley Capital is based in Overland Park, Kansas.


DEAL STATS #
Overall 4 of 12
Sector (Distribution) 1 of 2
Type (Secondary Buyout) 1 of 2
State (Indiana) 1 of 1
Country (United States) 4 of 12
Year (2016) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-02-26 B12 Transportation Group

Kansas, Missouri, United States

B12 Transportation Group is the parent company of two operating subsidiaries, Brown Industries and Diamond Coach. B12 Transportation Group was founded in 2015 and is based in Kansas, Missouri.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-01-01 in2itive Business Solutions

Overland Park, Kansas, United States

in2itive Business Solutions is a fully integrated revenue cycle management and healthcare consulting firm. keeping healthcare leaders focused on patients instead of financials. Company staff represents diverse expertise in business office functions, including revenue cycle management, billing, coding, denial management, insurance handling and more. in2itive Business Solutions is based in Overland Park, Kansas.

Buy -
Buyer

Capital For Business

St. Louis, Missouri, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1959
PE ASSETS 150M USD
Size Small
Type Sector Agnostic
DESCRIPTION

Capital for Business (CFB) is a private investment firm focused on providing junior capital to growing lower middle-market companies with at least $8 million in sales. CFB targets businesses serving niche consumer, commercial, distribution, manufacturing, and service markets throughout the United States. Funds are typically used to support management buyouts, leveraged buyouts, recapitalizations, corporate divestitures, growth financings, and going-private transactions. CFB will not invest in start-ups, turnarounds, unproven technologies, biotech, real estate, and financial institutions. Capital for Business was founded in 1959 and is headquartered in St. Louis, Missouri.


DEAL STATS #
Overall 34 of 55
Sector (Distribution) 4 of 5
Type (Secondary Buyout) 3 of 3
State (Indiana) 3 of 3
Country (United States) 34 of 55
Year (2016) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-05-05 Rock Energy Systems

Janesville, Wisconsin, United States

Rock Energy Systems offers waste oil furnaces and boilers, high volume low-speed fans, and energy-efficient portable radiant heaters to provide comfort to workers within various industrial settings. The company offers leading brands Clean Burn, Lanair, EnergyLogic and MacroAir. Its branded products are manufactured in its Janesville location and distributed worldwide. Rock Energy Systems was founded in 1976 and is based in Janesville, Wisconsin.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-11-30 Domaille Engineering

Rochester, Minnesota, United States

Domaille Engineering is a provider of polishing machines and fixtures, inspection equipment and associated engineered products for the rapidly growing fiber-optic cable market. The Company also engineers and manufactures complex, mission-critical products for the defense, aerospace, national security, telecommunications, energy and medical sectors. Domaille Engineering was founded in 1990 and is based in Rochester, Minnesota.

Sell -

Seller(S) 1

SELLER

HKW

Indianapolis, Indiana, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1903
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Hammond Kennedy Whitney & Company (HKW) is a private equity firm focused on making control investments in mid-sized, 'market leading' companies generating sales of $5 to $75 million. HKW looks for companies with low risk for technological obsolescence, defined growth strategies, and talented management who want to own equity. Target transaction situations include industry consolidations, corporate divestitures, generational changes in ownership, growth equity, management buy-outs and recapitalizations. HKW prefers North American based opportunities. HKW dates back to 1903, however the Firm transitioned from sole to institutional investors in 2001. The Firm has offices in Indianapolis and New York City.


DEAL STATS #
Overall 24 of 38
Sector (Distribution) 2 of 3
Type (Secondary Buyout) 12 of 19
State (Indiana) 6 of 7
Country (United States) 23 of 30
Year (2016) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-01-29 PANOS brands

Rochelle Park, New Jersey, United States

PANOS brands manufactures and markets natural and specialty food and beverage products sold in the US and Canada, with a portfolio of brands including KA-ME Asian foods, Seamark crackers, MI-DEL cookies, and Amore food pastes. PANOS brands was founded in 2006 and is based in Rochelle Park, New Jersey.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-08-08 MTI

Hillsboro, Oregon, United States

MTI is a provider of mobile device display technologies, developing solutions that deliver the highest level of merchandising security for consumer electronics and mobile enterprise applications allowing products, sales and service to be the focus, while security operates efficiently in the background.

Sell -