M&A Deal Summary

Midwest Mezzanine Funds and Dubin Clark Acquire Daystar Products International

On April 1, 2019, mezzanine finance firm Midwest Mezzanine Funds and private equity firm Dubin Clark acquired automotive company Daystar Products International

Acquisition Highlights
  • This is Midwest Mezzanine Funds’ 4th and Dubin Clark’s 4th transaction in the Automotive sector.
  • This is Midwest Mezzanine Funds’ 64th and Dubin Clark’s 19th transaction in the United States.
  • This is Midwest Mezzanine Funds’ 1st and Dubin Clark’s 1st transaction in Arizona.

M&A Deal Summary

Date 2019-04-01
Target Daystar Products International
Sector Automotive
Buyer(s) Midwest Mezzanine Funds
Dubin Clark
Deal Type Recapitalization

Target

Daystar Products International

Phoenix, Arizona, United States
Daystar Products International is an automotive performance aftermarket parts manufacturer of lift and leveling kits and component parts for off- and on-road trucks, Jeep®, and multi-purpose vehicles. Daystar Products International was founded in 1977 and is based in Phoenix, Arizona.

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Buyer(S) 2

Buyer

Midwest Mezzanine Funds

Chicago, Illinois, United States

Investor Investor Investor Investor Investor


Category Mezzanine Finance Firm
Founded 1992
PE ASSETS 1.0B USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Midwest Mezzanine Funds (MMF) is a provider of junior capital to lower middle-market, US and Canadian companies. MMF looks to invest $4 to $15 million to support buyouts, acquisition financings, recapitalizations, and growth capital needs. Prospective companies generally have consistent profits ($3 million of EBITDA), low capital intensity, and sustainable competitive advantages. Broad areas of interest include manufacturing, value-added distribution, and services. MMF will not invest in high technology, energy, or real estate. Midwest Mezzanine was formed in 1992 and has offices in Chicago and Monroe, Michigan.


DEAL STATS #
Overall 64 of 81
Sector (Automotive) 4 of 4
Type (Recapitalization) 11 of 13
State (Arizona) 1 of 3
Country (United States) 64 of 81
Year (2019) 1 of 9
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-11-29 City Wide Building Services

Dallas, Texas, United States

City Wide Building Services is a full-service commercial-building maintenance company that offers high, mid, and low-rise window cleaning to over 4,000 commercial, industrial, municipal, higher-education, and hospital properties. Complimentary services include equipment rental, pressure washing, inspection/certification, and building restoration/waterproofing services. City Wide Building Services was founded in 1968 and is based in Dallas, Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-05-20 Dorsett Controls

Yadkinville, North Carolina, United States

Dorsett Controls is a provider of supervisory control and data acquisition (“SCADA”) systems used to monitor water, wastewater, stormwater, energy management, air quality, security, and intelligent business controls. Dorsett Controls is based in Yadkinville, North Carolina.

Buy -
Buyer

Dubin Clark

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1984
PE ASSETS 400M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Dubin Clark is a private equity firm that acquires and builds businesses in partnership with management. Following an acquisition, Dubin Clark typically invests additional capital to help fund acquisitions and grow the business. Target sectors include retail, healthcare services, manufacturing, and business services. The Firm is a long-term investor and does not formulate a pre-defined exit plan. Dubin Clark was formed in 1984 and is based in Jacksonville, Florida.


DEAL STATS #
Overall 19 of 23
Sector (Automotive) 4 of 5
Type (Recapitalization) 8 of 8
State (Arizona) 1 of 1
Country (United States) 19 of 23
Year (2019) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-11-13 SmartSource Computer & Audio Visual Rentals

Itasca, Illinois, United States

SmartSource Computer & Audio Visual Rentals is a provider of event technology solutions. The Company strategizes, designs, and implements full-service solutions, with innovative technology solutions, state-of-the-art tech rental equipment, and supporting infrastructure. SmartSource Computer & Audio Visual Rentals was founded in 1989 and is based in Itasca, Illinois.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-08-01 Astar Heating & Air

Middletown, New York, United States

Astar Heating & Air is a provider of HVAC replacement, maintenance, and plumbing solutions to residential homeowners throughout the lower Hudson Valley region of New York. Astar Heating & Air is based in Middletown, New York.

Buy -