M&A Deal Summary

Lee Equity Partners and Twin Point Capital Acquire Tessco Technologies

On April 12, 2023, private equity firms Lee Equity Partners and Twin Point Capital acquired distribution company Tessco Technologies for 161M USD

Acquisition Highlights
  • This is Lee Equity Partners’ 2nd and Twin Point Capital’s 2nd transaction in the Distribution sector.
  • This is Lee Equity Partners’ 4th and Twin Point Capital’s largest (disclosed) transaction.
  • This is Lee Equity Partners’ 32nd and Twin Point Capital’s 3rd transaction in the United States.
  • This is Lee Equity Partners’ 2nd and Twin Point Capital’s 1st transaction in Maryland.

M&A Deal Summary

Date 2023-04-12
Target Tessco Technologies
Sector Distribution
Buyer(s) Lee Equity Partners
Twin Point Capital
Deal Type Going Private
Deal Value 161M USD
Advisor(s) William Blair (Financial)
Ballard Spahr (Legal)

Target

Tessco Technologies

Hunt Valley, Maryland, United States
Tessco Technologies is a value-added distributor, manufacturer and solutions provider for wireless infrastructure supplying base station equipment, antennas, IoT devices, test and maintenance tools, and other system components mainly to commercial customers. Tessco Technologies was founded in 1982 and is based in Hunt Valley, Maryland.

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Buyer(S) 2

Buyer

Lee Equity Partners

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2006
PE ASSETS 5.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Lee Equity Partners is a private investment firm that looks for buyout and growth capital investments across a range of industries. Lee Equity Partners seeks investments requiring $50 to $150 million of equity capital. Lee Equity Partners was formed in 2006 and is based in New York, New York.


DEAL STATS #
Overall 35 of 40
Sector: Distribution M&A 2 of 2
Type: Going Private M&A Deals 3 of 3
State: Maryland M&A 2 of 2
Country: United States M&A 32 of 34
Year: 2023 M&A 2 of 3
Size (of disclosed) 4 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-02-01 Cardiovascular Logistics

Houma, Louisiana, United States

Cardiovascular Logistics is a cardiovascular-focused physician practice management platform that supports cardiology groups with operational, clinical, and administrative services, aiming to deliver advanced cardiovascular care to patients. Cardiovascular Logistics is based in Houma, Louisiana.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-08-09 Cadent

New York, New York, United States

Cadent is a media services company that aggregates local cable television advertising inventory for resale to national advertisers. Cadent was founded in 2007 and is based in New York, New York.

Sell -
DESCRIPTION

Twin Point Capital is a principal investment firm that looks for opportunities across the US. The Firm was formed in 2015 and is headquartered in Palo Alto, California.


DEAL STATS #
Overall 4 of 4
Sector: Distribution M&A 2 of 2
Type: Going Private M&A Deals 1 of 1
State: Maryland M&A 1 of 1
Country: United States M&A 3 of 3
Year: 2023 M&A 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-09-13 Alliance

Mississauga, Ontario, Canada

Alliance is a distributor and manufacturer of products and solutions including cabling, assemblies, antennas and related active and passive connectivity componentry to support wireless, broadband, broadcast and wireline networks for the North American market. Alliance was founded in 1993 and is based in Mississauga, Ontario.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-10-21 ECAM

Addison, Texas, United States

ECAM is a provider of live video monitoring solutions focused on designing, installing and providing pro-active remote video monitoring solutions to multi-family residential, commercial and industrial businesses across the United States. ECAM was founded in 2003 and is based in Addison, Texas.

Sell -