Investment Summary

Lincolnshire Management and PNC Mezzanine Capital Invest In TRUE Sports

On August 27, 2012, private equity firm Lincolnshire Management and mezzanine finance firm PNC Mezzanine Capital invested in consumer products company TRUE Sports

Investment Highlights
  • This is Lincolnshire Management’s 3rd and PNC Mezzanine Capital’s 7th transaction in the Consumer Products sector.
  • This is Lincolnshire Management’s 19th and PNC Mezzanine Capital’s 38th transaction in the United States.
  • This is Lincolnshire Management’s 1st and PNC Mezzanine Capital’s 3rd transaction in Tennessee.

Investment Summary

Date 2012-08-27
Target TRUE Sports
Sector Consumer Products
Investor(s) Lincolnshire Management
PNC Mezzanine Capital
Deal Type Stake Purchase

Target

TRUE Sports

Memphis, Tennessee, United States
TRUE Sports is a designer, manufacturer, and supplier of golf club shafts as well as performance sports products including hockey sticks, lacrosse stick handles and other equipment. TRUE Sports manufactures both steel and graphite shafts and its brands include Dynamic Gold, Dynalite, Project X, Rifle, and Alloy Blue. TRUE Sports was founded in 1902 and is based in Memphis, Tennessee.

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Investor(S) 2

Investor

Lincolnshire Management

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1986
PE ASSETS 1.9B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Lincolnshire Management, Inc. (LMI) is a private equity firm focused on acquiring small and mid-sized companies in partnership with management. LMI typically targets companies with the majority of business conducted within the US. Prospective companies also have cash-flows of $5 to $50 million and significant opportunities for growth, either internally or through acquisitions. Target transaction situations include corporate divestitures, selling shareholders, and owners desiring liquidity. Lincolnshire Management was formed in 1986 and has office in New York City.


DEAL STATS #
Overall 21 of 32
Sector (Consumer Products) 3 of 4
Type (Stake Purchase) 2 of 3
State (Tennessee) 1 of 1
Country (United States) 19 of 29
Year (2012) 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-08-16 Prince Sports

Atlanta, Georgia, United States

Prince Sports, Inc. is the premiere brand in racquet sports, having pioneered such revolutionary designs as the "oversized" and "longbody" racquets for tennis. The success of Prince in tennis has grown over the years to include a full range of products targeting all major racquet sports including, squash, racquetball and badminton.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-11-27 National Pen

San Diego, California, United States

National Pen Co. LLC is a manufacturer and marketer of custom writing instruments for small and medium businesses.

Buy -
Investor

PNC Mezzanine Capital

Pittsburgh, Pennsylvania, United States

Investor Investor Investor Investor Investor


Category Mezzanine Finance Firm
Founded 1989
PE ASSETS 1.5B USD
Size Large
Type Sector Agnostic
DESCRIPTION

PNC Mezzanine Capital is the subordinated debt investing arm of PNC Bank. PNC Mezzanine looks to provide $10 to $50 million of junior capital to middle-market companies in a variety of industries. Prospective companies generally have revenues of $20 million and EBITDA greater than $4 million. Broad sectors of interest include niche manufacturing, value-added distribution, and business or consumer services. PNC will not invest in early-stage or technology-driven businesses; real estate, commodity-based or capital-intensive companies; businesses with high customer or vendor concentration; or declining businesses. PNC Mezzanine was formed in 1989 and is based in Pittsburgh, Pennsylvania.


DEAL STATS #
Overall 39 of 77
Sector (Consumer Products) 7 of 9
Type (Stake Purchase) 2 of 2
State (Tennessee) 3 of 4
Country (United States) 38 of 73
Year (2012) 4 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-07-12 Kmco

Houston, Texas, United States

Kmco LLC is an operator of specialty chemical company serving the automotive, petroleum, industrial, and agricultural markets. Kmco was founded in 1975 and is based in Houston, Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-09-26 Exponential Power

Menomonee Falls, Wisconsin, United States

Exponential Power is a provider of stored power solutions utilized by industry leaders in energy services, utilities, industrial, telecom, data center, motive power, and material handling markets. Dedicated to solving problems. Exponential Power was established in 1915 and is based in Menomonee Falls, Wisconsin.

Buy -