Investment Summary

Merit Capital Partners Exits Icon Identity Solutions

On September 5, 2019, Stratus Unlimited invested in business services company Icon Identity Solutions from Merit Capital Partners

Investment Highlights
  • This is Stratus Unlimited’s 2nd transaction in the Business Services sector.
  • This is Stratus Unlimited’s 3rd transaction in the United States.
  • This is Stratus Unlimited’s 1st transaction in Illinois.

Investment Summary

Date 2019-09-05
Target Icon Identity Solutions
Sector Business Services
Investor(s) Stratus Unlimited
Sellers(s) Merit Capital Partners
Deal Type Merger

Target

Icon Identity Solutions

Elk Grove Village, Illinois, United States
Icon Identity Solutions, Inc. is a manufacturer of custom corporate branding and identity solutions encompassing all facets of exterior signage, repair and maintenance and renovation services for blue-chip customers across multiple end markets. Icon’s three manufacturing facilities and extensive network of installation and maintenance technicians allows the company to serve large, nationwide customers in a timely and consistent fashion. Icon’s products and services are provided across three business segments: branding services & products (manufacturing and installation of both exterior and select interior signage), repair & maintenance (preventative maintenance, on-call repair, lighting retrofits and related services for exterior signage and lighting) and remodel & renovation services (in-store renovation/remodel of a customer’s store locations, providing project management and oversight of specialized sub-contractors).

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Investor(S) 1

Investor

Stratus Unlimited

Mentor, Ohio, United States

Category Company
Founded 1953
Sector Business Services
DESCRIPTION

Stratus Unlimited is a provider of signage and lighting services to customers across the US through a highly-scalable, vendor-managed, and asset-light business model. Stratus Unlimited was founded in 1953 and is based in Mentor, Ohio.


DEAL STATS #
Overall 3 of 5
Sector: Business Services M&A 2 of 2
Type: Merger M&A Deals 1 of 1
State: Illinois M&A 1 of 2
Country: United States M&A 3 of 5
Year: 2019 M&A 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-03-19 Coastal Signage + Wayfinding

Oceanside, California, United States

Coastal Signage + Wayfinding is a full-service solutions provider. Coastal offers an extensive range of exterior and interior branding and wayfinding products including Signage, Graphics, Fixtures/Displays, Architectural Elements, and Façade Cladding.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-09-28 MLE

Elmhurst, Illinois, United States

MLE is a provider of the full brand lifecycle, including interior and exterior signage, refresh and remodel construction, repair and maintenance, and energy services. MLE was founded in 2002 and is based in Elmhurst, Illinois.

Buy -

Seller(S) 1

SELLER

Merit Capital Partners

Chicago, Illinois, United States

Investor Investor Investor Investor Investor


Category Mezzanine Finance Firm
Founded 1993
PE ASSETS 2.5B 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 $20 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 Capital Partners was formed in 1993 and is based in Chicago, Illinois.


DEAL STATS #
Overall 43 of 56
Sector: Business Services M&A 4 of 5
Type: Merger M&A Deals 1 of 1
State: Illinois M&A 6 of 7
Country: United States M&A 43 of 55
Year: 2019 M&A 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-06-28 Bluegrass Ingredients

Springfield, Kentucky, United States

Bluegrass Ingredients is a processor of custom, value-added dairy ingredients for the food and beverage industry. Bluegrass sources raw milk from dairy farmers and processes it into a wide range of intermediate and shelf stable goods such as dry milk and cheese powders, non-dairy creamers, shortening powders, cheese, and specialty butters. Bluegrass Ingredients was established in 1995 and is based in Springfield, Kentucky.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-10-02 Revision Military

Essex Junction, Vermont, United States

Revision Military develops and delivers purpose-built eye protection for military and tactical users worldwide. Revision Military was founded in 2001 and is based in Essex Junction, Vermont.

Buy -