M&A Deal Summary

Micronics Acquires Southern Filter Media

On December 31, 2014, Micronics acquired manufacturer Southern Filter Media from Gen Cap America and Tenth Street Capital

Acquisition Highlights
  • This is Micronics’ 1st transaction in the Manufacturing sector.
  • This is Micronics’ 1st transaction in the United States.
  • This is Micronics’ 1st transaction in Tennessee.

M&A Deal Summary

Date 2014-12-31
Target Southern Filter Media
Sector Manufacturing
Buyer(s) Micronics
Sellers(s) Gen Cap America
Tenth Street Capital
Deal Type Add-on Acquisition

Target

Southern Filter Media

Hixson, Tennessee, United States
Southern Filter Media LLC is a manufacturer and distributor of high-quality wet and dry environmental filtration products for application in various industries including aluminum, asphalt, cement, chemicals, foodstuffs, furniture, grain, mining, pharmaceuticals, steel, and woodworking.

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Buyer(S) 1

Buyer

Micronics

Chattanooga, Tennessee, United States

Category Company
Founded 1983
Sector Manufacturing
DESCRIPTION

Micronics is a provider of aftermarket and OEM filtration equipment and consumables for use in mining, chemical, wastewater, and various other industrial end markets. It supplies filter presses of all sizes, including the fully automatic Lasta MC, replacement plates, parts, and filter cloth and filter bags for all equipment. Micronics was formed in 1983 and is based in Chattanooga, Tennessee.


DEAL STATS #
Overall 1 of 7
Sector: Manufacturing M&A 1 of 2
Type: Add-on Acquisition M&A Deals 1 of 6
State: Tennessee M&A 1 of 1
Country: United States M&A 1 of 5
Year: 2014 M&A 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-03-16 C.P. Environmental

Romeoville, Illinois, United States

C.P. Environmental, Inc. is a full-service engineering and design firm that offers a wide range of industrial air pollution equipment and service/refurbishment capabilities to the air filtration market, specifically the baghouse industry. C.P. Environmental is a supplier of industrial air replacement parts and filters, maintenance, inspection services, and new equipment products. The combination of these products and services enhances CPE’s customers’ productivity, profitability and reduces the amount of equipment downtime at their facilities.

Buy -

Seller(S) 2

SELLER

Gen Cap America

Nashville, Tennessee, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1988
PE ASSETS 250M USD
Size Small
Type Sector Agnostic
DESCRIPTION

Gen Cap America, Inc. is a private investment firm focused on acquisitions and recapitalization of mid-sized businesses. Gen Cap looks to invest in privately held companies or non-core divestitures generating $10 to $200 million in annual revenues. Gen Cap prefers businesses operating in basic industries, such as manufacturing, distribution, and services. The Firm avoids investing in real estate or 'high-tech' businesses. Gen Cap America was formed in 1988 and is based in Nashville, Tennessee.


DEAL STATS #
Overall 10 of 30
Sector: Manufacturing M&A 1 of 3
Type: Add-on Acquisition M&A Deals 6 of 15
State: Tennessee M&A 3 of 4
Country: United States M&A 10 of 30
Year: 2014 M&A 4 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-10-24 Calspan Aero Systems Engineering

St. Paul, Minnesota, United States

Calspan Aero Systems Engineering is a provider of mission-critical testing and engineering services to manufacturers of jet engines and industrial gas turbines, maintenance, repair, and overhaul (“MRO”) providers, governments, and militaries. Calspan ASE serves the aerospace and energy markets by offering independent testing services at its aerodynamic laboratory; design and build of aerodynamic wind tunnel facilities and equipment across all speed regimes including hypersonic; and design and build of engine test facilities and equipment. Calspan ASE was formed in 1967 and is based in St. Paul, Minnesota.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-02-23 Shape

Addison, Illinois, United States

Shape is a designer and manufacturer of custom magnetic products. Shape specializes in the production of large transformers with rated wattage above 250 watts, which are used in airport lighting, airport security systems, ultraviolet curing, water sanitation, telecom equipment and other niche applications. Shape was founded in 1966 and is based in Addison, Illinois.

Buy -
SELLER

Tenth Street Capital

Chattanooga, Tennessee, United States

Investor Investor


Category Mezzanine Finance Firm
Founded 2005
PE ASSETS 500M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Tenth Street Capital is an independent investment firm that seeks to invest in lower middle-market companies operating in a broad range of industries. The Firm provides mezzanine and equity co-investments to profitable businesses with strong market positions and diverse customers. Areas of interest include manufacturing, distribution, and services. Investment proceeds are generally used to support acquisitions, buyouts, and recapitalizations. Tenth Street Capital was formed in 2005 and is based in Chattanooga, Tennessee.


DEAL STATS #
Overall 5 of 21
Sector: Manufacturing M&A 1 of 3
Type: Add-on Acquisition M&A Deals 3 of 9
State: Tennessee M&A 1 of 4
Country: United States M&A 5 of 21
Year: 2014 M&A 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-09-09 NexusTek

Greenwood Village, Colorado, United States

NexusTek is a provider of regional IT support and outsourcing including help desk, cloud services, VoIP, cyber security services, server monitoring and microsoft dynamics 365 CRM services. From managed IT services to cloud solutions and customized business software implementations, NexusTek employs top talent, offers personalized attention, and brings nearly 22 years implementing technology best practices for companies across Arizona and the region. NexusTek was founded in 1996 and is based in Greenwood Village, Colorado.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-07-01 DeWayne s Quality Metal Coatings

Lexington, Tennessee, United States

DeWayne’s Quality Metal Coatings is a manufacturer that provides a variety of metal finishing services to customers in the automotive, agricultural equipment, fastener, heavy truck, industrial, appliance, and lawn, and garden equipment industries. DeWayne's Quality Metal Coatings was founded in 1990 and is based in Lexington, Tennessee.

Sell -