M&A Deal Summary

LaSalle Capital and Prism Capital Acquire OttLite

On March 28, 2006, private equity firm LaSalle Capital and mezzanine finance firm Prism Capital acquired electrical equipment company OttLite from Parallel Investment Partners

Acquisition Highlights
  • This is LaSalle Capital’s 3rd and Prism Capital’s 1st transaction in the Electrical Equipment sector.
  • This is LaSalle Capital’s 34th and Prism Capital’s 15th transaction in the United States.
  • This is LaSalle Capital’s 1st and Prism Capital’s 1st transaction in Florida.

M&A Deal Summary

Date 2006-03-28
Target OttLite
Sector Electrical Equipment
Buyer(s) LaSalle Capital
Prism Capital
Sellers(s) Parallel Investment Partners
Deal Type Secondary Buyout

Target

OttLite

Tampa, Florida, United States
OttLite is the manufacturer of high definition, natural daylight products. OttLite’s products simulate specific wavelengths of natural daylight utilizing specially formulated phosphor combinations to enhance indoor activities. OttLite was founded in 1989 and is based in Tampa, Florida.

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Buyer(S) 2

Buyer

LaSalle Capital

Chicago, Illinois, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2003
PE ASSETS 345M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

LaSalle Capital Group is a private investment firm licensed as a SBIC. LaSalle looks to invest in lower middle-market Midwest-based businesses. LaSalle's areas of interest include consumer and industrial products, food processing, for-profit education, business services, packaging and healthcare. LaSalle will not invest in real estate, commodities, oil and gas, and businesses based on rapidly changing technology. Prospective companies typically have revenue between $20 and $100 million and EBITDA greater than $3 million. The Firm's investment horizon is five to seven years. LaSalle Capital Group was formed in 1984 and is based in Chicago, Illinois.


DEAL STATS #
Overall 36 of 60
Sector (Electrical Equipment) 3 of 3
Type (Secondary Buyout) 2 of 4
State (Florida) 1 of 2
Country (United States) 34 of 58
Year (2006) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2005-09-01 Academy Of Healing Arts-East

Las Vegas, Nevada, United States

Academy of Healing Arts is a for-profit vocational school focused on entry-level healthcare career programs. The Academy’s accredited curriculum consists of four primary programs and its medical assistant program is one of the largest in Nevada.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-04-01 Paramount Building Solutions

Phoenix, Arizona, United States

Paramount Building Solutions is a provider of outsourced janitorial services to the retail industry. Paramount Building Solutions currently services over 1,700 individual store locations throughout the United States. Paramount Building Solutions was founded in 2003 and is based in Phoenix, Arizona.

Buy -
Buyer

Prism Capital

Chicago, Illinois, United States

Investor Investor Investor Investor


Category Mezzanine Finance Firm
Founded 1999
PE ASSETS 190M USD
Size Small
Type Sector Agnostic
DESCRIPTION

Prism Capital is a licensed SBIC investment firm focused on providing equity and mezzanine capital to lower middle market companies. Prism's Mezzanine practice looks to provide up to $7 million in financing for Midwest based mature industrial companies. Mezzanine capital is typically invested to support internal growth, recapitalizations, mergers, acquisitions and ownership changes. Prism also provides equity of $2 to $15 million through an Opportunity Fund. The Opportunity Fund invests in expansion stage IT companies as well as traditional manufacturing and service businesses with growth opportunities. Prism Capital was formed in 1999 and is based in Chicago, Illinois.


DEAL STATS #
Overall 15 of 24
Sector (Electrical Equipment) 1 of 2
Type (Secondary Buyout) 4 of 4
State (Florida) 1 of 3
Country (United States) 15 of 24
Year (2006) 3 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2006-03-27 Tecnocap

Glen Dale, West Virginia, United States

Tecnocap LLC is a manufacturer of metal caps and closures. Penn Wheeling is a manufacturer of metal lid closures for glass jars used in applications including specialty food, personal care, pharmaceutical and other niche products. The company also has captive lithographic capabilities that allow it to compete across its diverse customer base for custom, fast turn around, short-run opportunities.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2006-08-25 Morton Industrial Group

Morton, Illinois, United States

Morton Industrial Group, Inc. is the leading provider of highly engineered sheet metal fabrications to the off-highway construction equipment market. The Company manufactures sophisticated metal fabrications and assemblies for its market-leading customers such as Caterpillar Inc., Deere & Co., JLG Industries Inc., and Kubota.

Sell -

Seller(S) 1

SELLER

Parallel Investment Partners

Dallas, Texas, United States

Category Private Equity Firm
Founded 1999
PE ASSETS 600M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Parallel Investment Partners is a private equity firm focused on acquiring North American middle market companies. Parallel looks for companies generating at least $10 million in revenue and valued between $10 and $100 million. Sectors of interest include business services, financial services, energy exploration, energy services, healthcare services, medical products, restaurants, retail, education, engineered products, and light manufacturing. Prospective transaction situations include recapitalizations, growth capital financings, buyouts, and divestitures. Parallel Investment Partners was formed in 1999 and is based in Dallas Texas.


DEAL STATS #
Overall 8 of 19
Sector (Electrical Equipment) 1 of 1
Type (Secondary Buyout) 2 of 3
State (Florida) 1 of 1
Country (United States) 8 of 19
Year (2006) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2006-03-07 Marmalade

Santa Barbara, California, United States

Marmalade Café operates 10 restaurants in southern California offering breakfast, lunch and dinner, and as well as catering services.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-01-01 Moosejaw

Madison Heights, Michigan, United States

Moosejaw is a multi-channel retailer of premium quality outdoor apparel and equipment. Moosejaw was founded in 1992 and is based in Madison Heights, United States.

Buy -