M&A Deal Summary

LKCM Headwater Investments and Capital Southwest Acquire Gexpro

On December 31, 2019, private equity firm LKCM Headwater Investments and business development company Capital Southwest acquired distribution company Gexpro from Rexel

Acquisition Highlights
  • This is LKCM Headwater Investments’ 3rd and Capital Southwest’s 3rd transaction in the Distribution sector.
  • This is LKCM Headwater Investments’ 7th and Capital Southwest’s 40th transaction in the United States.
  • This is LKCM Headwater Investments’ 6th and Capital Southwest’s 16th transaction in Texas.
Investment Fate
  • Gexpro merged with another company in 2021.

M&A Deal Summary

Date 2019-12-31
Target Gexpro
Sector Distribution
Buyer(s) LKCM Headwater Investments
Capital Southwest
Sellers(s) Rexel
Deal Type Divestiture

Target

Gexpro

Coppell, Texas, United States
Gexpro is a distributor of electrical parts and components for construction, industrial, and energy solutions markets. Gexpro Services supply a wide range of electrical supplies and productivity solutions for electricians, contractors, and industrial plants. Gexpro carries everything from lighting components, motors, circuit breakers, and tools to electrical wiring, conduit, automation solutions, and solar panels. Gexpro is based in Coppell, Texas.

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Buyer(S) 2

DESCRIPTION

LKCM Headwater Investments is a private equity firm that seeks to partner with management teams to build successful companies. The Firm takes an operationally-minded approach and provides companies with the tools necessary to build market leaders with sustainable competitive advantages. LKCM generally pursues platform companies with $50 to $500 million and seeks to commit $5 to $80 million per transaction. Sectors of interest include industrial distribution/services, manufacturing, energy, financial services, and healthcare. LKCM Headwater is based in Fort Worth, Texas.


DEAL STATS #
Overall 7 of 12
Sector: Distribution M&A 3 of 4
Type: Divestiture M&A Deals 1 of 3
State: Texas M&A 6 of 9
Country: United States M&A 7 of 12
Year: 2019 M&A 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-12-03 BC Solutions

Farmers Branch, Texas, United States

BC Solutions is a distributor of building controls, automation, gas detection and energy management solutions for commercial buildings, including education, government, data center, healthcare and other end markets. BC Solutions is based in Farmers Branch, Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-12-29 Gexpro

Coppell, Texas, United States

Gexpro is a distributor of electrical parts and components for construction, industrial, and energy solutions markets. Gexpro Services supply a wide range of electrical supplies and productivity solutions for electricians, contractors, and industrial plants. Gexpro carries everything from lighting components, motors, circuit breakers, and tools to electrical wiring, conduit, automation solutions, and solar panels. Gexpro is based in Coppell, Texas.

Sell -
DESCRIPTION

Capital Southwest Corp. is a credit focused business development company focused on providing financing to profitable, mid-sized companies throughout the US. The Firm doesn't have any sector preferences and will consider a variety of investment structures. Capital Southwest Corp. was originally established in 1961 and is headquartered in Dallas, Texas.


DEAL STATS #
Overall 41 of 50
Sector: Distribution M&A 3 of 3
Type: Divestiture M&A Deals 1 of 2
State: Texas M&A 16 of 18
Country: United States M&A 40 of 49
Year: 2019 M&A 8 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-11-20 Relevant

Houston, Texas, United States

Relevant is a compressed, oil-free air rental provider to end-users in refineries, petrochemicals, power generation, food and beverage, pharmaceuticals, plastics, and other industrial settings. Its fleet can address a full spectrum of pressure and flow needs for its customers, who often operate in environments in which tailored solutions for oil-free air are required. Relevant was founded in 1984 and is based in Houston, Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-01-06 NinjaTrader Group

Chicago, Illinois, United States

NinjaTrader Group is a provider of trading software and brokerage services to active traders. NinjaTrader Group was founded in 2003 and is based in Chicago, Illinois.

Buy -

Seller(S) 1

SELLER

Rexel

Paris, France

Category Company
Founded 1967
Sector Distribution
Employees26,804
Revenue 19.3B EUR (2024)
DESCRIPTION

Rexel is a distributor of electrical parts and supplies. The Company supplies customers involved in residential, commercial and industrial construction, maintenance and renovation and currently has a network of approximately 1,700 branches in 29 countries, providing over 1.2 million products and related services. Rexel was founded in 1967 and is based in Paris, France.


DEAL STATS #
Overall 2 of 3
Sector: Distribution M&A 2 of 2
Type: Divestiture M&A Deals 2 of 3
State: Texas M&A 1 of 1
Country: United States M&A 1 of 1
Year: 2019 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-10-15 Sofinther

Nantes, France

Sofinther is a distribution company specialising in thermal, heating and control solutions.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-03-17 Trace Software International

Roubaix, France

Trace Software International is a software edition company specialized in electrical design and calculation for non-residential building activity. Trace Software International was founded in 1987 and is based in Roubaix, France.

Buy -