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  6. Mason Wells and PNC Erieview Capital Acquire Qualus Power Services

M&A Deal Summary

Mason Wells and PNC Erieview Capital Acquire Qualus Power Services

On August 31, 2018, private equity firm Mason Wells and mezzanine finance firm PNC Erieview Capital acquired energy services and equipment company Qualus Power Services

Acquisition Highlights
  • This is Mason Wells’ 1st and PNC Erieview Capital’s 1st transaction in the Energy Services and Equipment sector.
  • This is Mason Wells’ 29th and PNC Erieview Capital’s 12th transaction in the United States.
  • This is Mason Wells’ 2nd and PNC Erieview Capital’s 1st transaction in Ohio.
Investment Fate
  • Qualus Power Services was sold to a consortium of financial buyers in 2021.

M&A Deal Summary
Date 2018-08-31
Target Qualus Power Services
Sector Energy Services and Equipment
Buyer(s) Mason Wells
PNC Erieview Capital
Deal Type Consolidation

Target

Qualus Power Services

Cincinnati, Ohio, United States
Qualus Power Services is a provider of engineering and specialized technical field services to utility and private power grid infrastructure. Qualus Power Services was founded in 2018 and is based in Cincinnati, Ohio.

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Buyer(S) 2

Buyer

Mason Wells

Milwaukee, Wisconsin, United States

Investor Investor Investor Investor

Category Private Equity Firm
Founded 1998
PE ASSETS 2.4B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Mason Wells is a private equity firm focused on middle-market buyout opportunities in the Midwest US. Mason Wells looks to invest in businesses operating in engineered products and services, outsourced business services, and specialty packaging. Target companies typically generate revenue of $25 to $300 million and EBITDA of at least $5 million. The Firm prefers businesses with high barriers to entry, limited customer concentration, and strong market positions. Mason Wells was originally formed 1982 as a subsidiary of Marshall & Ilsley Corporation and became an independent firm in 1998. Mason Wells is based in Milwaukee, Wisconsin.

DEAL STATS #
Overall 29 of 40
Sector: Energy Services and Equipment M&A 1 of 1
Type: Consolidation M&A Deals 1 of 2
State: Ohio M&A 2 of 2
Country: United States M&A 29 of 40
Year: 2018 M&A 2 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-08-31 CE Power Solutions

Cincinnati, Ohio, United States

CE Power Solutions LLC is an independent provider of outsourced power system engineering, project management, testing, and maintenance services that enhance the functionality and reliability of the electric grid. CE Power provides its services to electric utilities and industrial companies, and commercial clients with critical power applications such as hospitals and data centers. CE Power’s services are delivered with the core business values of honesty and safety for employees, customers, and suppliers.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-09-05 EastPoint Sports

Succasunna, New Jersey, United States

EastPoint Sports designs, sources, and distributes indoor and outdoor home recreational products through mass retail and e-commerce channels. The EastPoint Sports family of brands includes Go! Gater, Majik, Rec-Tek, Classic Sport, Narwhal, NHL, HEAD, PENN, Kan Jam, and Pro-Line Tailgating. EastPoint Sports was founded in 2009 and is based in Succasunna, New Jersey.

Buy -
Buyer

PNC Erieview Capital

Category Mezzanine Finance Firm
Founded 1979
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

PNC Erieview Capital is a provider equity and junior capital to middle-market companies throughout the US and Canada. The Firm looks to support private equity sponsor-led buyouts and recapitalizations, non-sponsored buyouts, family office buyouts, and growth equity needs. PNC Erieview typically works with profitable companies (EBITDA greater than $5 million) valued from $20 to $250 million. Areas of interest include distribution, consumer products, healthcare, manufacturing, and services. The Firm was originally known as National City Equity Partners and was established in 1979. PNC Erieview Capital is based in Cleveland, Ohio.

DEAL STATS #
Overall 12 of 42
Sector: Energy Services and Equipment M&A 1 of 2
Type: Consolidation M&A Deals 1 of 3
State: Ohio M&A 1 of 3
Country: United States M&A 12 of 41
Year: 2018 M&A 3 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-06-29 AQUALIS

Morrisville, North Carolina, United States

AQUALIS is a provider of post-construction stormwater management to the commercial, retail, industrial, hospitality, residential, and governmental industries through stormwater consulting, inspection, preventative maintenance, and repair services. AQUALIS was formed in 2001 and is based in Morrisville, North Carolina.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-10-09 Structural Concepts

Muskegon, Michigan, United States

Structural Concepts is a designer and manufacturer of temperature-controlled food and beverage display cases for food service establishments and supermarkets. Structural Concepts was founded in 1972 and is based in Muskegon, Michigan.

Buy -
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