M&A Deal Summary

Main Street Capital and Ashland Capital Partners Acquire KBK Industries

On January 1, 2006, private equity firms Main Street Capital and Ashland Capital Partners acquired energy services and equipment company KBK Industries

Acquisition Highlights
  • This is Main Street Capital’s 1st and Ashland Capital Partners’ 1st transaction in the Energy Services and Equipment sector.
  • This is Main Street Capital’s 11th and Ashland Capital Partners’ 2nd transaction in the United States.
  • This is Main Street Capital’s 1st and Ashland Capital Partners’ 1st transaction in Kansas.

M&A Deal Summary
Date 2006-01-01
Target KBK Industries
Sector Energy Services and Equipment
Buyer(s) Main Street Capital
Ashland Capital Partners
Deal Type Recapitalization

Target

KBK Industries

Rush Center, Kansas, United States
KBK Industries is a manufacturer of standard and customized fiberglass tanks and related products primarily for use in oil and gas production, chemical production and agriculture applications. The company also manufactures several other miscellaneous fiberglass containers and products used by a variety of other customers and industries. KBK Industries was formed in 1975 and is headquartered in Rush Center, Kansas.

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Buyer(S) 2

Buyer

Main Street Capital

Houston, Texas, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1997
PE ASSETS 3.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Main Street Capital Holdings is a public investment firm that invests in mid-market companies to support ownership transitions, recapitalizations, strategic acquisitions, business expansion and other growth initiatives. Main Street looks for businesses opearting in basic industries with positive cash-flow and and defensible competitive advantages. Main Street generally invests $5 to $75 million in companies with $10 to $150 million of revenue and EBITDA of $3 to $20 million. Investments are usually in the form of term debt and/or direct equity. Main Street Capital Corporation was formed in 1997 and is based in Houston, Texas.

DEAL STATS #
Overall 11 of 137
Sector (Energy Services and Equipment) 1 of 6
Type (Recapitalization) 5 of 56
State (Kansas) 1 of 3
Country (United States) 11 of 137
Year (2006) 6 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2006-01-01 CBT Nuggets

Eugene, Oregon, United States

CBT Nuggets produces and sells original content IT certification training videos. The company's training videos provide comprehensive training for certification exams from Microsoft, CompTIA, Cisco, and Citrix, plus many other professional certification vendors. CBT Nuggets was founded in 1999 and is based in Eugene, Oregon.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2006-05-06 Everyones Internet

Houston, Texas, United States

Everyones Internet, Ltd. (“EV1”) is a Houston, Texas based company that began its operations in 1998 as an internet service provider (“ISP”) in the Houston market. EV1 subsequently expanded its ISP operations into various markets across the U.S. and started providing dedicated web hosting services to domestic and international customers. Today, EV1 operates one of the largest independent ISP’s and web hosting services companies in the country. EV1 maintains a well known brand name in the markets it serves through an extensive marketing and advertising campaign and also maintains a significant presence in the Houston community through its involvement with numerous charities benefiting underprivileged children and other community initiatives. EV1’s corporate headquarters are located in Houston, Texas.

Sell -
Buyer

Ashland Capital Partners

Chicago, Illinois, United States
Category Private Equity Firm
Founded 2005
Size Small
Type Sector Agnostic
DESCRIPTION

Ashland Capital Partners is a private investment group focused on acquiring and growing lower middle-market companies with revenues greater than $20 million. Sectors of interest include industrial manufacturing/services, distribution/logistics, and business services. Ashland prefers situations where a management team is looking to acquire from the current owner, current owners are looking to retire, or ownership is looking for an outside partner to help grow the business. Ashland Capital Partners was established in 2005 and is based in Chicago, Illinois.

DEAL STATS #
Overall 2 of 10
Sector (Energy Services and Equipment) 1 of 1
Type (Recapitalization) 2 of 6
State (Kansas) 1 of 1
Country (United States) 2 of 10
Year (2006) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2006-01-01 Mid-Columbia Lumber Products

Culver, Oregon, United States

Mid-Columbia Lumber Products is a manufacturer of finger jointed dimensional framing lumber. The company primarily manufactures 22-foot long and greater 2x6 and 2x8 lumber products that can be substituted for traditional solid-sawn structural framing lumber in the framing of commercial and residential structures. Mid-Columbia Lumber Products was formed in 1982 and is based in Culver, Oregon.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-01-01 GMI Group

Humble, Texas, United States

GMI Group manufactures, modifies, and distributes flanges, fittings, rings, plates, spacers, and other fabricated metal products utilized primarily in industrial piping applications. GMI Group was formed in 1994 and is based in Humble, Texas.

Buy -
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