M&A Deal Summary

Kordsa Acquires Axiom Materials

On February 18, 2019, Kordsa acquired manufacturer Axiom Materials from Sorenson Capital and Yukon Partners

Acquisition Highlights
  • This is Kordsa’s 1st transaction in the Manufacturing sector.
  • This is Kordsa’s 3rd transaction in the United States.
  • This is Kordsa’s 2nd transaction in California.

M&A Deal Summary

Date 2019-02-18
Target Axiom Materials
Sector Manufacturing
Buyer(s) Kordsa
Sellers(s) Sorenson Capital
Yukon Partners
Deal Type Add-on Acquisition
Advisor(s) Harris Williams (Financial)
Honigman (Legal)

Target

Axiom Materials

Santa Ana, California, United States
Axiom Materials, Inc. is a manufacturer of proprietary advanced composite materials and related products for customers in the aerospace & defense, industrial, automotive, medical device, and electronics industries. The Company provides customized, mission-critical products that are characterized by lightweight, durable, and temperature-resistant properties to over 300 customers.

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Buyer(S) 1

Buyer

Kordsa

İzmit, Turkey

Category Company
Founded 1973
Sector Apparel/Textiles
Employees4,706
Revenue 23.5B TRY (2023)
DESCRIPTION

Kordsa is a manufacturer and sells nylon and polyester yarns, cord fabrics, and single end cord products. Kordsa was established in 1973 and is based in ?zmit, Turkey.


DEAL STATS #
Overall 3 of 3
Sector (Manufacturing) 1 of 1
Type (Add-on Acquisition) 3 of 3
State (California) 2 of 2
Country (United States) 3 of 3
Year (2019) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-12-06 Fabric Development

Quakertown, Pennsylvania, United States

Fabric Development, Inc. is a manufacturer of specialty woven, knitted and braided fabrics to meet specific applications. Fabric Development, Inc. was established in 1972 and is based in Quakertown, Pennsylvania.

Buy -

Seller(S) 2

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 18 of 29
Sector (Manufacturing) 1 of 1
Type (Add-on Acquisition) 11 of 16
State (California) 2 of 5
Country (United States) 17 of 28
Year (2019) 1 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-01-01 NS8

Las Vegas, Nevada, United States

NS8 is a comprehensive fraud prevention platform that combines behavioral analytics, real-time scoring, and global monitoring to help businesses minimize risk. NS8 also offers supplemental data through third-party extensions as well as seamless integrations with industry-leading ecommerce platforms that enable businesses to begin fighting fraud within minutes. NS8 was founded in 2016 and is based in Las Vegas, Nevada.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-05-15 InMoment

Salt Lake City, Utah, United States

InMoment is a cloud-based customer experience (CX) optimization platform. InMoment’s cloud-native XI Platform is engineered with data science at the core, and specifically architected to harness intelligence from across the entire experience ecosystem to deliver clear business value. InMoment was founded in 2002 and is based in Salt Lake City, Utah.

Sell -
SELLER

Yukon Partners

Minneapolis, Minnesota, United States

Investor Investor Investor Investor Investor


Category Mezzanine Finance Firm
Founded 2008
PE ASSETS 640M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Yukon Partners is a mezzanine finance firm that works with private equity sponsors to fund a variety of investment situations. Yukon looks to invest $10 to $40 million to support buyouts, recapitalizations, take privates, and refinancings. Sectors of interest include automotive, building products, business services, consumer products, food/beverages, healthcare products/services, industrial manufacturing, niche manufacturing, and transportation/logistics. Prospective companies generally have revenues of $30 to $500 million and are profitable with EBITDA of $5 to $50 million. Yukon Partners was formed in 2008 and is based in Minneapolis, Minnesota.


DEAL STATS #
Overall 14 of 28
Sector (Manufacturing) 3 of 3
Type (Add-on Acquisition) 4 of 7
State (California) 1 of 3
Country (United States) 14 of 27
Year (2019) 2 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-01-01 Prometheus Franchise Restaurant Holdings

Clearwater, Florida, United States

Prometheus Franchise Restaurant Holdings LLC is a franchisee of Taco Bell, Pizza Hut and IHOP restaurants in the United States.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-03-08 Sizzling Platter

Murray, Utah, United States

Sizzling Platter is a restaurant management company focused on adding and scaling segment-leading concepts in outstanding demographic areas across the US and select international markets. Sizzling Platter has become a preferred partner for high growth, high return on capital brands looking to scale within the Company’s footprint. Sizzling Platter strives to build lifetime guests across its concept portfolio utilizing lean enterprise techniques and technology to achieve operational excellence. The Company applies its systems, process, human capital, and passion for the restaurant business to quickly build scale within its target markets. Sizzling Platter was founded in 1963 and is based in Murray, Utah.

Buy -