Secondary Buyout • Machinery

Lone Star Funds Acquires CentroMotion

On June 20, 2023, private equity firm Lone Star Funds acquired machinery company CentroMotion from One Rock Capital Partners

Acquisition Context
  • This is Lone Star Funds’ 1st transaction in the Machinery sector.
  • This is Lone Star Funds’ 13th transaction in the United States.
  • This is Lone Star Funds’ 1st transaction in Wisconsin.

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M&A Deal Summary

Date June 20, 2023
Target CentroMotion
Sector Machinery
Buyer(s) Lone Star Funds
Sellers(s) One Rock Capital Partners
Deal Type Secondary Buyout
Advisor(s) J.P. Morgan Securities
Goldman Sachs (Financial)
Latham & Watkins (Legal)

Target Company

CentroMotion

Waukesha, Wisconsin, United States
CentroMotion is a global company serving agriculture, specialty and commercial vehicle, construction, and other industrial end-markets with motion, actuation, and control solutions. EC&S primarily serves on and off-highway OEMs with highly engineered system-critical motion, actuation, and control solutions under brands that include CrossControl, Maximatecc, Elliott Manufacturing, Gits Manufacturing, Power-Packer, and Weasler Engineering. CentroMotion is based in Waukesha, Wisconsin.
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Buyer Overview 1

Buyer

Lone Star Funds

Dallas, Texas, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1995
PE ASSETS 95.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Lone Star Funds is a global private investment firm focused on investing across several strategies. The Firm's primary investment activity surrounds financial services and real estate. Lone Star generally looks to acquire distressed debt and equity assets including corporate, commercial real estate, single family residential and consumer debt products as well as banks and asset rich operating companies. Lone Star was formed in 1995 and is based in Dallas, Texas with additional offices across Western Europe and Asia.


Deal Context for Buyer #
Overall 25 of 29
Sector: Machinery 1 of 2
Type: Secondary Buyout 13 of 13
State: Wisconsin 1 of 1
Country: United States 13 of 15
Year: 2023 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-06-15 CFT

Scottsdale, Arizona, United States

CFT provides customers industry-leading and sustainable solutions for the supply, control, application and curing of a wide range of paints, powders, sealants & adhesives, foams and other application materials under an expanding collection of pioneering product brands. CFT is based in Scottsdale, Arizona.

Buy $520M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-05-03 Eriks

Utrecht, Netherlands

ERIKS is a provider of a wide range of high-quality mechanical engineering components and associated technical and logistics services. Eriks was founded in 1940 and is based in Utrecht, Netherlands.

Buy -

Seller Profile 1

SELLER

One Rock Capital Partners

New York, New York, United States

Category Private Equity Firm
Founded 2010
PE ASSETS 9.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

One Rock Capital Partners is a private equity group focused on opportunities where the Firm can leverage its operational, strategic, and financial resources. One Rock seeks investments in mature, North American companies and will also consider distressed situations. Sectors of interest include chemicals, packaging, forest products, consumer appliances/electronics, electrical equipment, niche manufacturing, business services, environmental services, waste management, equipment rental, healthcare products, medical products, and automotive dealerships. One Rock Capital Partners is based in New York City.


Deal Context for Seller #
Overall 6 of 10
Sector: Machinery 1 of 1
Type: Secondary Buyout 4 of 7
State: Wisconsin 1 of 1
Country: United States 6 of 10
Year: 2023 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-01-19 EnviroServe

Sandy, Utah, United States

EnviroServe is a provider of environmental and waste management services, from Savage, a global provider of supply chain infrastructure and services. EnviroServe was founded in 1946 and is based in Sandy, Utah.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-07-23 OLM Food Solutions

Sioux Falls, South Dakota, United States

OLM is a provider and distributor of food service solutions to the C-store industry, servicing over 1,500 convenience stores as well as co-manufacturing customers across the U.S. and abroad. The company offering includes a diverse portfolio of branded solutions including Hot Stuff Kitchen, pcpizza, Papa Primo’s, Day’N Night Bites, and private label solutions. OLM was formed in 1983 and is based in Sioux Falls, South Dakota.

Sell -