M&A Deal Summary

Littlejohn Capital, Resilience Capital Partners and Patriot Capital Acquire Maysteel Industries

On April 25, 2017, private equity firms Littlejohn Capital, Resilience Capital Partners and Patriot Capital acquired manufacturer Maysteel Industries from Revolution Capital Group and Atar Capital

Acquisition Highlights
  • This is Littlejohn Capital’s 1st, Resilience Capital Partners’ 5th and Patriot Capital’s 6th transaction in the Manufacturing sector.
  • This is Littlejohn Capital’s 3rd, Resilience Capital Partners’ 32nd and Patriot Capital’s 76th transaction in the United States.
  • This is Littlejohn Capital’s 1st, Resilience Capital Partners’ 5th and Patriot Capital’s 4th transaction in Wisconsin.

M&A Deal Summary

Date 2017-04-25
Target Maysteel Industries
Sector Manufacturing
Buyer(s) Littlejohn Capital
Resilience Capital Partners
Patriot Capital
Sellers(s) Revolution Capital Group
Atar Capital
Deal Type Secondary Buyout

Target

Maysteel Industries

Allenton, Wisconsin, United States
Maysteel Industries specializes in designing, engineering, and manufacturing custom, precision, OEM sheet metal enclosures, electrical cabinets, and metal fabricated assemblies. The company's product solutions are widely used in the alternative energy, kiosk, gaming, security, medical, utility, industrial drive and automation, and self-serve/vending machine industries and are also found in a variety of other applications. Maysteel Industries was founded in 1936 and is based in Allenton, Wisconsin.

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Buyer(S) 3

DESCRIPTION

Littlejohn Capital is a private equity firm focused on control investments in profitable, lower middle-market companies valued up to $75 million. The Firm has a particular interest in family owned companies undergoing generational transition. Preferred industries include manufacturing, fabrication, processing, logistics, materials, and services. Littlejohn will not invest in retail, consumer products, fashion, gambling, start up technologies and biotechnology. Littlejohn Capital was formed by Angus C Littlejohn, founder of Littlejohn & Co., a mega-sized investment firm headquartered in Greenwich, Connecticut. Littlejohn Capital is based in Savannah, Georgia.


DEAL STATS #
Overall 3 of 6
Sector: Manufacturing M&A 1 of 2
Type: Secondary Buyout M&A Deals 2 of 4
State: Wisconsin M&A 1 of 1
Country: United States M&A 3 of 6
Year: 2017 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-12-01 ArmorWorks

Chandler, Arizona, United States

ArmorWorks is a developer and manufacturer of advanced survivability solutions including vehicle and aircraft armor systems, blast attenuating seating systems, body armor, and high-value asset security systems. ArmorWorks was founded in 1996 and is based in Chandler, Arizona.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-03-15 Western Industries Plastic Products

Winfield, Kansas, United States

Western Industries Plastic Products is a designer and manufacturer of large blow-molded finished products and components used by OEMs in the industrial, furniture, sports and leisure, transportation, and lawn and garden sectors. Western Industries Plastic Products was founded in 1987 and is based in Watertown, Kansas.

Buy -
Buyer

Resilience Capital Partners

Cleveland, Ohio, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2001
PE ASSETS 675M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Resilience Capital Partners is a private equity firm focused on investing in lower middle-market underperforming and turnaround situations. Resilience targets non-core divisions or subsidiaries, companies with severe operational issues, businesses suffering from insufficient management focus, and privately held companies with lack of access to capital. Sectors of interest include niche manufacturing, specialty chemicals, and industrial services. Prospective companies are generally located in North America with $25 to $250 million in revenue, and EBITDA typically under $20 million. Resilience Capital Partners was formed in 2001 and is located in Cleveland, Ohio.


DEAL STATS #
Overall 32 of 41
Sector: Manufacturing M&A 5 of 5
Type: Secondary Buyout M&A Deals 6 of 7
State: Wisconsin M&A 5 of 5
Country: United States M&A 32 of 40
Year: 2017 M&A 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-12-23 The PendaForm Co.

Portage, Wisconsin, United States

The PendaForm Co. is a heavy gauge thermoformer in North America supplying automotive, industrial and consumer markets with diversified products including automotive and heavy truck components, pickup truck accessories, custom designed packaging solutions, as well as erosion control, irrigation and large surface containment solution for drilling sites. The PendaForm Co. is based in Portage, Wisconsin.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-04-28 Lux Global Label

Lafayette Hill, Pennsylvania, United States

Lux Global Label is a provider of high-quality labeling, security, and specialty packaging solutions. Lux specializes in prime decoration, including labels, sleeves, sachets, and coupons, for some of the world’s most respected companies in branded consumer products industry. Lux Global Label was founded in 2017 and is based in Lafayette Hill, Pennsylvania.

Buy -
Buyer

Patriot Capital

Baltimore, Maryland, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Size Large
Type Sector Agnostic
DESCRIPTION

Patriot Capital is a private investment firm that provides equity and junior capital to support acquisitions, growth capital financings, management buyouts, and recapitalizations of middle-market companies. The Firm looks to invest $5 to $25 million in businesses generating revenues of $10 to $200 million. Areas of interest include business and consumer services, consumer products, niche manufacturing and distribution, education, e-commerce, application software, transportation, and telecom services. Patriot focuses its investment activity with the Mid-Atlantic, Midwest, and Southern areas of the US. Patriot Capital is based in Baltimore, Maryland.


DEAL STATS #
Overall 76 of 112
Sector: Manufacturing M&A 6 of 7
Type: Secondary Buyout M&A Deals 9 of 15
State: Wisconsin M&A 4 of 5
Country: United States M&A 76 of 112
Year: 2017 M&A 4 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-03-28 GroupAero

New York, New York, United States

Aerospace Holdings, Inc. is a provider of advanced engineering, design and manufacturing services to space, commercial aerospace and defense markets. Aerospace Holdings is based in New York City.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-06-06 Structural & Steel Products

Fort Worth, Texas, United States

Structural & Steel Products is a manufacturer and distributor of products used in the highway construction end-market, including overhead sign structures, guardrails, crash cushions, lighting poles and bridge decking. The Company manufactures tubular structures used in the communication and power transmission industries. Structural & Steel Products was founded in 1969 and is based in Fort Worth, Texas.

Buy -

Seller(S) 2

SELLER

Revolution Capital Group

Beverly Hills, California, United States

Investor Investor


Category Private Equity Firm
Founded 2009
Size Small
Type Sector Agnostic
DESCRIPTION

Revolution Capital Group is a private investment firm primarily focused on acquiring non-core/non-strategic divestitures from larger, public corporations throughout North America and Europe. The Firm looks for situations where it can leverage it's operational expertise in improving performance. Sectors of interest include media, manufacturing, technology, business services, transportation, industrials, healthcare, consumer products, distribution, and food/beverage. Revolution Capital was formed in 2009 and has offices in Boston and Los Angeles.


DEAL STATS #
Overall 3 of 5
Sector: Manufacturing M&A 1 of 1
Type: Secondary Buyout M&A Deals 1 of 1
State: Wisconsin M&A 1 of 1
Country: United States M&A 3 of 4
Year: 2017 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-05-03 Tampa Media Group

Largo, Florida, United States

Tampa Media Group, Inc. publishes the The Tampa Tribune, a daily newspaper that was originally established in 1895 and that serves the Tampa Bay/St. Petersburg market.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-02-02 Tvilum

Faarvang, Denmark

Tvilum is a provider of practical and eco-friendly DIY assembly, and flat-pack furniture for every room of the house. Tvilum develops, manufactures, and sells a wide range of flat-pack furniture at competitive prices. Tvilum was founed in 1965 and is based in Faarvang, Denmark.

Sell -
DESCRIPTION

Atar Capital is a private investment firm focused on complex acquisitions and turnarounds. The Firm has a special interest in non-core or non-strategic divestures of public companies. Atar seeks opportunities with $50 million to $1.5 billion of revenue and up to $25 million of EBITDA. Targeted sectors include automotive, manufacturing, distribution, industrials, business services, media/entertainment, technology, consumer products, food/beverages, healthcare, aerospace/defense, and transportation. Atar Capital was established in 2016 and is based in Los Angeles, California.


DEAL STATS #
Overall 2 of 7
Sector: Manufacturing M&A 1 of 1
Type: Secondary Buyout M&A Deals 1 of 1
State: Wisconsin M&A 1 of 1
Country: United States M&A 2 of 5
Year: 2017 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-12-22 FIS

Tulsa, Oklahoma, United States

FIS is an outsourced provider of inspection and integrity services to the oil and gas industry. The company supports midstream pipelines, terminals, storage tanks, and energy infrastructure across the U.S., offering construction oversight, non-destructive testing, and integrity management solutions. FIS was founded in 1975 and is based in Tulsa, Oklahoma.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-09-05 RWS

Chadds Ford, Pennsylvania, United States

RWS develops and manages end-to-end recycling, waste and sustainability programs for multi-site blue chip customers across North America. RWS is a full-service provider and category manager with an asset light business model. Its customers benefit from market leading technology, action oriented analytics and reporting, and an expertly managed commodities trading platform. RWS is headquartered in Chadds Ford, Pennsylvania and has offices located in Atlanta, Georgia; Plano, Texas; St. Louis, Missouri; and Los Angeles, California.

Buy -