M&A Deal Summary

KT Capital Partners, BlueArc Mezzanine Partners and Pine Street Capital Partners Acquire FilterWorks USA

On December 5, 2018, private equity firm KT Capital Partners, mezzanine finance firm BlueArc Mezzanine Partners and mezzanine finance firm Pine Street Capital Partners acquired automotive company FilterWorks USA

Acquisition Highlights
  • This is KT Capital Partners’ 1st, BlueArc Mezzanine Partners’ 1st and Pine Street Capital Partners’ 2nd transaction in the Automotive sector.
  • This is KT Capital Partners’ 7th, BlueArc Mezzanine Partners’ 3rd and Pine Street Capital Partners’ 31st transaction in the United States.
  • This is KT Capital Partners’ 3rd, BlueArc Mezzanine Partners’ 1st and Pine Street Capital Partners’ 3rd transaction in Florida.

M&A Deal Summary

Date 2018-12-05
Target FilterWorks USA
Sector Automotive
Buyer(s) KT Capital Partners
BlueArc Mezzanine Partners
Pine Street Capital Partners
Deal Type Buyout (LBO, MBO, MBI)

Target

FilterWorks USA

Deerfield Beach, Florida, United States
FilterWorks USA is a layout & design, capital equipment, and service provider to the automotive collision repair industry. Filterworks offers Complete Design, Permitting, Installation, Training, and Service Solutions. FilterWorks USA was founded in 1988 and is based in Deerfield Beach, Florida.

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Buyer(S) 3

Buyer

KT Capital Partners

Atlanta, Georgia, United States

Investor Investor


Category Private Equity Firm
Founded 2007
Size Small
Type Sector Agnostic
DESCRIPTION

KT Capital Partners is a private investment group that looks to partner with management is acquiring Southeast US-based companies generating revenues from $5 to $50 million with an enterprise value of $5 to $50 million and at least $1 million of EBITDA. Prospective businesses generally have established products or services; operate in stable, growing markets; exhibit 'reasonable' opportunities for growth; and possess 'opportunities to create efficiencies through process improvements'. KT Capital Partners is based in Atlanta, Georgia.


DEAL STATS #
Overall 7 of 11
Sector: Automotive M&A 1 of 2
Type: Buyout (LBO, MBO, MBI) M&A Deals 6 of 8
State: Florida M&A 3 of 4
Country: United States M&A 7 of 11
Year: 2018 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-08-11 On Event Services

Norcross, Georgia, United States

On Event Services LLC is specializes in corporate events and exhibitions, supporting more than 1,000 live events annually with production services, including audio, video, lighting, mapping and scenic design.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-06-01 ITA Window Fashions

Ormond Beach, Florida, United States

ITA Window Fashions is a manufacturer of residential and commercial window coverings components for manufacturers and finished products, window coverings for distributors and retailers. ITA Window Fashions was founded in 1986 and is based in Ormond Beach, Florida.

Buy -
DESCRIPTION

BlueArc Mezzanine Partners is a mezzanine finance firm that provides subordinated debt and equity to lower middle-market companies based in the Southeast, Mid-Atlantic, and Mid-West regions of the US. Broad areas of interest include manufacturing, service, and distribution. BlueArc looks to commit $3 to $15 million in profitable companies with $10 to $150 million of revenue. Prospective companies generally possess experienced management and operate in defensible markets. BlueArc Mezzanine Partners was formed in 2015 and is based in Atlanta, Georgia.


DEAL STATS #
Overall 3 of 5
Sector: Automotive M&A 1 of 1
Type: Buyout (LBO, MBO, MBI) M&A Deals 1 of 1
State: Florida M&A 1 of 2
Country: United States M&A 3 of 5
Year: 2018 M&A 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-12-15 Hilton Displays

Greenville, South Carolina, United States

Hilton Displays is engaged in manufacturing, installation, and maintenance servicing of signage and branding products throughout the U.S. and Canada. Hilton Displays was founded in 1981 and is based in Greenville, South Carolina.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-12-28 Andretti Indoor Karting & Games

Orlando, Florida, United States

Andretti Indoor Karting & Games is a family entertainment company with kart racing, arcade, ropes course, bowling, restaurant, meeting spaces, and other indoor attractions. Andretti Indoor Karting & Games is based in Orlando, Florida.

Buy -
Buyer

Pine Street Capital Partners

Albany, New York, United States

Investor Investor Investor Investor Investor


Category Mezzanine Finance Firm
Founded 2004
PE ASSETS 425M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Pine Street Capital Partners provides mezzanine capital to small and medium-sized private and public companies. PSCP will consider investments from $3 to $15 million in companies generating at least $10 million of sales. Target sectors include manufacturing, business services, consumer products, healthcare and media. PSCP prefers investments in the Northeast and Mid-Atlantic regions of the US, but will consider opportunities nationwide. Investment funds are typically used to support strategic acquisitions, growth, management and employee buyouts, and leveraged recapitalization. PSCP will not invest in the real estate, biotech and oil & gas industries. Pine Street Capital Partners was formed in 2004 and is based in Albany, New York.


DEAL STATS #
Overall 31 of 49
Sector: Automotive M&A 2 of 4
Type: Buyout (LBO, MBO, MBI) M&A Deals 12 of 18
State: Florida M&A 3 of 4
Country: United States M&A 31 of 49
Year: 2018 M&A 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-10-25 Carthage Specialty Paperboard

Carthage, New York, United States

Carthage Specialty Paperboard, Inc. is a manufacturer of uncoated recycled paperboard used in premium specialty applications. Carthage Specialty Paperboard is based in Carthage, New York.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-01-01 NPL

Strongsville, Ohio, United States

NPL provides customized mobility equipment, primarily wheelchairs, to its end users who are reached through a network of physical therapists and other healthcare professionals. NPL was founded in 1993 and is based in Strongsville, Ohio.

Buy -