M&A Deal Summary

Midwest Growth Partners Acquires Ullman Oil

On April 7, 2022, private equity firm Midwest Growth Partners acquired distribution company Ullman Oil from Tecum Capital

Acquisition Highlights
  • This is Midwest Growth Partners’ 2nd transaction in the Distribution sector.
  • This is Midwest Growth Partners’ 13th transaction in the United States.
  • This is Midwest Growth Partners’ 1st transaction in Ohio.

M&A Deal Summary

Date 2022-04-07
Target Ullman Oil
Sector Distribution
Buyer(s) Midwest Growth Partners
Sellers(s) Tecum Capital
Deal Type Recapitalization

Target

Ullman Oil

Chagrin Falls, Ohio, United States
Ullman Oil is a full-service provider and distributor of gasoline, diesel fuel, bio-diesel, home heating oil and lubricants to commercial, industrial, and residential customers. Ullman Oil was established in 1966 and is based in Chagrin Falls, Ohio.

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Buyer(S) 1

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 13 of 15
Sector (Distribution) 2 of 2
Type (Recapitalization) 1 of 1
State (Ohio) 1 of 1
Country (United States) 13 of 15
Year (2022) 3 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-03-24 Adams

Gonzales, Texas, United States

Adams is a full-service dry and wet flavor manufacturer and distributor of seasonings, spices, panko, extracts, and food coloring. Adams was founded in 1888 and is based in Gonzales, Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-11-30 Manitowoc Tool & Machining

Manitowoc, Wisconsin, United States

Manitowoc Tool & Machining is a midwestern manufacturer that produces a wide variety of precision machined parts sold primarily to industrial equipment manufacturing companies. Manitowoc Tool & Machining was founded in 1965 and is based in Manitowoc, Wisconsin.

Buy -

Seller(S) 1

SELLER

Tecum Capital

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2005
PE ASSETS 750M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Tecum Capital is a private equity firm focused on lower middle-market companies across the Eastern-US. Tecum will consider a variety of investment situations including leveraged buyouts, management buyouts, successions, strategic acquisitions, growth capital financings, and recapitalizations. Investment sizes range from $5 - $20 million. Industries of interest include manufacturing, plastics, specialty distribution, technology, healthcare services, defense, food, and business/consumer services. Tecum will not consider investments in start-ups or real estate. Tecum Capital was formed in 2005 and is based in Wexford, Pennsylvania.


DEAL STATS #
Overall 19 of 25
Sector (Distribution) 3 of 3
Type (Recapitalization) 2 of 3
State (Ohio) 1 of 3
Country (United States) 19 of 25
Year (2022) 1 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-03-07 TopDown

North Hollywood, California, United States

TopDown is a designer, manufacturer, and supplier of automotive aftermarket products. TopDown was founded in 1979 and is based in North Hollywood, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-06-15 Blackwood Solutions

Bloomington, Indiana, United States

Blackwood Solutions is a top-tier transportation and recycling company that specializes in providing safe and practical solutions. The company range of services includes new pole hauling, wood recycling for treated and untreated products, concrete recycling, inventory management yards, and storm response solutions. Blackwood Solutions was founded in 2016 and is based in Bloomington, Indiana.

Buy -