M&A Deal Summary

Midwest Growth Partners and NewSpring Capital Acquire ConTeras

On November 1, 2020, private equity firms Midwest Growth Partners and NewSpring Capital acquired construction company ConTeras

Acquisition Highlights
  • This is Midwest Growth Partners’ 1st and NewSpring Capital’s 2nd transaction in the Construction sector.
  • This is Midwest Growth Partners’ 5th and NewSpring Capital’s 147th transaction in the United States.
  • This is Midwest Growth Partners’ 1st and NewSpring Capital’s 1st transaction in Indiana.

M&A Deal Summary

Date 2020-11-01
Target ConTeras
Sector Construction
Buyer(s) Midwest Growth Partners
NewSpring Capital
Deal Type Buyout (LBO, MBO, MBI)

Target

ConTeras

Houston, Indiana, United States
ConTeras is a provider of commercial and industrial multi-craft service contractor delivering scaffolding solutions, industrial insulation, industrial painting, heat tracing, abatement, remediation, and general maintenance. ConTeras was founded in 2020 and is based in Houston, Indiana.

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Buyer(S) 2

Buyer
DESCRIPTION

Midwest Growth Partners is a private equity firm focused on investing in established, growing businesses throughout rural areas across the country. The Firm targets businesses operating in the food, agriculture, manufacturing, and distribution sectors with $4 to $100 million in revenue. Midwest Growth Partners provides a variety of debt and equity capital and seeks to commit $500k to $10 million per investment. Midwest Growth Partners was formed in 2013 and is headquartered in Des Moines, Iowa.


DEAL STATS #
Overall 5 of 15
Sector (Construction) 1 of 3
Type (Buyout (LBO, MBO, MBI)) 2 of 3
State (Indiana) 1 of 2
Country (United States) 5 of 15
Year (2020) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-06-01 AgCertain

Ames, Iowa, United States

AgCertain is a food, agricultural and bio-based product development, manufacturing and marketing company. AgCertain Industries was founded in 2018 and is based in Ames, Iowa.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-11-02 FAST

Windom, Minnesota, United States

FAST is a manufacturer of innovative liquid fertilizer applicators, sprayers, specialty trailers, tanks, and related agricultural equipment. FAST was founded in 1990 and is based in Windom, Minnesota.

Buy -
Buyer

NewSpring Capital

Radnor, Pennsylvania, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1999
PE ASSETS 3.5B USD
Size Large
Type Sector Agnostic
DESCRIPTION

NewSpring Capital is a private investment firm focused on growth companies in the Mid-Atlantic US. The Firm can provide both growth equity and junior capital to prospective companies. NewSpring's target investment size for both mezzanine and equity financing is $2 to $5 million, although for new ventures, the Firm can commit up to $10 million. Sectors of interest include specialty manufacturing, technology, business services, information technology, life science, healthcare services, and medical devices. NewSpring Capital was formed in 1999 and is based in Radnor, Pennsylvania with an additional office in Short Hills, New Jersey.


DEAL STATS #
Overall 149 of 200
Sector (Construction) 2 of 7
Type (Buyout (LBO, MBO, MBI)) 31 of 44
State (Indiana) 1 of 2
Country (United States) 147 of 196
Year (2020) 14 of 16
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-10-29 Skillshare

New York, New York, United States

Skillshare is an online learning community for creativity. With more than 12 million registered members and over 30,000 video-based classes in a wide range of creative disciplines from graphic design to photography to painting and illustration to interior design, Skillshare's mission is to support professional and personal growth through creativity. Skillshare was founded in 2010 and is based in New York.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-11-05 Eastern Wholesale Fence

Medford, New York, United States

Eastern Wholesale Fence is a manufacturer and distributor of a full range of fence products. Eastern Wholesale Fence produces poly vinyl-chloride (“PVC”), wood, and chain link fence and railing products. Eastern Wholesale Fence was founded in 1971 and is based in Medford, New York.

Sell -