M&A Deal Summary

Merit Capital Partners and Aiglon Capital Management Acquire Classic Brands

On March 22, 2019, mezzanine finance firm Merit Capital Partners and private equity firm Aiglon Capital Management acquired consumer products company Classic Brands from Brass Ring Capital and FrontRange Capital Partners

Acquisition Highlights
  • This is Merit Capital Partners’ 2nd and Aiglon Capital Management’s 2nd transaction in the Consumer Products sector.
  • This is Merit Capital Partners’ 87th and Aiglon Capital Management’s 7th transaction in the United States.
  • This is Merit Capital Partners’ 1st and Aiglon Capital Management’s 1st transaction in Colorado.

M&A Deal Summary
Date 2019-03-22
Target Classic Brands
Sector Consumer Products
Buyer(s) Merit Capital Partners
Aiglon Capital Management
Sellers(s) Brass Ring Capital
FrontRange Capital Partners
Deal Type Secondary Buyout

Target

Classic Brands

Denver, Colorado, United States
Classic Brands is a designer, manufacturer, and distributor of bird feeders and related birding products. Classic sells its products in the lawn and garden departments of major retailers, through distribution to niche stores and online. Classic Brands was founded in 2010 and is based in Denver, Colorado.

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Buyer(S) 2

Buyer

Merit Capital Partners

Chicago, Illinois, United States

Investor Investor Investor Investor Investor

Category Mezzanine Finance Firm
Founded 1993
PE ASSETS 2.2B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Merit Capital Partners is a private investment firm that targets investments in middle market manufacturing, distribution, and service based businesses. Merit looks for companies generating at least $25 million in sales and at least $4 million in EBITDA. Merit can provide both equity and junior capital financing and looks to commit at least $15 million per transaction. Prospective transaction situations include management buyouts, recapitalizations, growth financings, divestitures, unsponsored transactions, and ESOPs. Merit Capital will not invest in start-ups, turnarounds, real estate, specialty retail, or oil/gas opportunities. Merit Capital was originally known as William Blair Mezzanine Capital and became independent in 2004. Merit was formed in 1993 and is based in Chicago, Illinois.

DEAL STATS #
Overall 88 of 98
Sector (Consumer Products) 2 of 3
Type (Secondary Buyout) 10 of 11
State (Colorado) 1 of 1
Country (United States) 87 of 97
Year (2019) 3 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-03-01 MicroPrecision

Delavan, Wisconsin, United States

MicroPrecision is a produces precision-machined parts. The Company manufactures thousands of extremely tight tolerance, build-to-specification parts for blue-chip customers in the medical (32% of sales), climate control (18%), non-auto engine (10%), automation (10%) and other (30%) industries. MicroPrecision is based in Delavan, Wisconsin.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-05-01 Omni Glass & Paint

Oshkosh, Wisconsin, United States

Omni Glass & Paint provides a broad range of glass and paint related products and services. The company’s OEM division distributes and installs specialty glass for use in specialty vehicle manufacturing. The Tempering division manufactures tempered glass for sale to building products manufacturers as well as through the Glass and OEM divisions. Omni Glass & Paint was founded in 1967 and is based in Oshkosh, Wisconsin.

Buy -
Buyer

Aiglon Capital Management

Durham, North Carolina, United States

Investor

Category Private Equity Firm
Founded 2014
Size Small
Type Sector Agnostic
DESCRIPTION

Aiglon Capital Management is a private equity firm focused on lower middle-market investments in the low-tech manufacturing, distribution, and services sectors. Aiglon prefers companies in the Southeast US with revenues of $50 to $150 million and EBITDA of $5 to $15 million. Aiglon Capital Management was formed in 2014 and is headquartered in Durham, North Carolina.

DEAL STATS #
Overall 7 of 9
Sector (Consumer Products) 2 of 2
Type (Secondary Buyout) 1 of 1
State (Colorado) 1 of 1
Country (United States) 7 of 9
Year (2019) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-11-14 Arrow Building Center

Stillwater, Minnesota, United States

Arrow Building Center is a full service building materials retailer serving Minnesota and Western Wisconsin. Arrow Building Center’s 16 full-service lumberyards, specialty divisions, and new state-of-the-art components manufacturing plant are ready to offer the best quality building products at an affordable price with the personalized, professional service customers have come to expect from Arrow since 1903.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-05-29 Faircloth Skimmer

Hillsborough, North Carolina, United States

Faircloth Skimmer is a designer, manufacturer, and distributor of surface drains for dewatering sediment basins. The Company is dedicated to providing erosion control solutions for the construction and water management industries. Faircloth Skimmer was founded in 2000 and is based in Hillsborough, North Carolina.

Buy -

Seller(S) 2

SELLER

Brass Ring Capital

Minnetonka, Minnesota, United States

Investor Investor Investor

Category Private Equity Firm
Founded 2004
Size Small
Type Sector Agnostic
DESCRIPTION

Brass Ring Capital is a private investment firm focused on small company investments in the upper Midwest US. Brass Ring looks for profitable companies generating revenues of $5 to $50 million and EBITDA of $1 to $5 million. Sectors of interest include business services and manufacturing. Brass Ring's investment horizon is between four and five years. Brass Ring will not invest in companies requiring major restructuring or investment in technology. Brass Ring Capital is based in Minnetonka, Minnesota.

DEAL STATS #
Overall 5 of 9
Sector (Consumer Products) 1 of 1
Type (Secondary Buyout) 2 of 4
State (Colorado) 1 of 2
Country (United States) 5 of 9
Year (2019) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-05-02 SmartLab

Longmont, Colorado, United States

SmartLab is a provider of engaging STEM and digital media programs for elementary, middle, and high schools. SmartLab was founded in 1987 and is based in Longmont, Colorado.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-09-06 ARCXIS

Houston, Texas, United States

ARCXIS is a residential Third-Party Inspection and Structural Engineering company, currently serve all of great State of Texas, Nashville, TN, Atlanta, GA, and Minneapolis, MN. The company offers inspections and design services from Site Preparation, Foundation, Frame, Wind Engineering, HVAC design and combine that with being the 5th largest energy efficiency certification company in the country. ARCXIS was formed in 1986 and is based in Houston, Texas.

Sell -
SELLER

FrontRange Capital Partners

Category Private Equity Firm
Founded 2010
Size Small
Type Sector Agnostic
DESCRIPTION

FrontRage Capital Partners is a private equity firm focused on investments in real estate and growth businesses. FrontRage Capital was formed in 2010 with family office, the Pritzker Group. FrontRange Capital is based in Greenwood Village, Colorado.

DEAL STATS #
Overall 1 of 1
Sector (Consumer Products) 1 of 1
Type (Secondary Buyout) 1 of 1
State (Colorado) 1 of 1
Country (United States) 1 of 1
Year (2019) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-04-18 TurboTenant

Fort Collins, Colorado, United States

TurboTenant is a provider of online solutions for residential landlords that help residential landlords save time and improve the performance of their rental properties. These features include online rental applications, tenant credit, and background reports, property listings and automated marketing, and online rent payments. TurboTenant was founded in 2015 and is based in Fort Collins, Colorado.

Buy -
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