M&A Deal Summary

MMT Acquires Syneo

On October 28, 2020, MMT acquired machinery company Syneo from RockWood Equity Partners and Northcreek Mezzanine

Acquisition Highlights
  • This is MMT’s 2nd transaction in the Machinery sector.
  • This is MMT’s 2nd transaction in the United States.
  • This is MMT’s 1st transaction in Florida.

M&A Deal Summary
Date 2020-10-28
Target Syneo
Sector Machinery
Buyer(s) MMT
Sellers(s) RockWood Equity Partners
Northcreek Mezzanine
Deal Type Add-on Acquisition

Target

Syneo

West Palm Beach, Florida, United States
Syneo is a provider of manufacturing equipment, cutting tools, and services for the medical device and electronics manufacturing industries. Syneo's primary solutions serve catheter, guidewire, and minimally-invasive medical device applications. The company’s comprehensive lines of Accu-branded and Syneo Sharp products are known for delivering an unparalleled level of sharpness and precision, enhancing catheter and surgical device applications through automated handling, cutting, drilling, and precision hole-punching capabilities. Syneo was formed in 2011 and is based in West Palm Beach, Florida.

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Buyer(S) 1

Buyer

MMT

Charlotte, North Carolina, United States
Category Company
Sector Medical Products
DESCRIPTION

MMT is a vertically integrated business serving the medical device manufacturing industry and beyond. MMT offers process development, applications and equipment, technical solutions, and aftermarket support. MMT is based in Charlotte, North Carolina.

DEAL STATS #
Overall 2 of 3
Sector (Machinery) 2 of 2
Type (Add-on Acquisition) 2 of 3
State (Florida) 1 of 1
Country (United States) 2 of 2
Year (2020) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-06-02 Glebar

Ramsey, New Jersey, United States

Glebar is a custom equipment builder and contract manufacturer specializing in close-tolerance and high precision design and engineering solutions. Glebar was founded in 1952 and is based in Ramsey, New Jersey.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-05-10 Ward Automation Galway

Galway, North Carolina, Ireland

Ward Automation Galway is a manufacturer of bespoke automation solutions for the medical device, pharmaceutical. Ward Automation Galway was founded in 2007 and is based in Galway, Ireland.

Buy -

Seller(S) 2

SELLER

RockWood Equity Partners

Shaker Heights, Ohio, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1999
Size Small
Type Sector Agnostic
DESCRIPTION

RockWood Equity Partners is a private equity firm looking to acquire profitable lower-middle market North American companies generating sales of $10 to $75 million and EBITDA of $2 to $7 million. Target transaction types include management buyouts, recapitalizations, growth equity financings, and divestitures. Sectors of interest include aerospace, defense, healthcare, industrials/industrial technology, and business services. RockWood Equity Partners was formed in 1999 and is based in Cleveland, Ohio.

DEAL STATS #
Overall 17 of 21
Sector (Machinery) 2 of 2
Type (Add-on Acquisition) 9 of 10
State (Florida) 2 of 2
Country (United States) 15 of 19
Year (2020) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-01-08 Flame Control Coatings

Niagara Falls, New York, United States

Flame Control Coatings is a developer and producer of fire retardant and heat resistant coatings. Flame Control Coatings LLC products include paints, varnishes, and mastics in a wide selection of colors and finishes.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-06-23 Lifeway Mobility

Hartford, Connecticut, United States

Lifeway Mobility is a provider of home accessibility and safety solutions, including ramps, stairlifts, wheelchair lifts, transfer aids, and bath safety products. Lifeway Mobility was founded in 2015 and is based in Hartford, Connecticut.

Sell -
SELLER

Northcreek Mezzanine

Category Private Equity Firm
Founded 2010
PE ASSETS 250M USD
Size Small
Type Sector Agnostic
DESCRIPTION

DEAL STATS #
Overall 4 of 6
Sector (Machinery) 1 of 1
Type (Add-on Acquisition) 2 of 4
State (Florida) 1 of 1
Country (United States) 4 of 6
Year (2020) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-01-31 RW America

Henderson, Colorado, United States

RW America is a distributor of specialty building supplies to customers in the Mountain West region of the United States. The Company’s product offering includes deck/porch products, weatherization products, stair parts, hearth, specialty hardware, and general building products. RW America was founded in 1965 and is based in Henderson, Colorado.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-04-15 Truesdell

Tempe, Arizona, United States

Truesdell is a provider of quality repair, restoration, strengthening, protection, and maintenance of concrete structures. Comprehensive services range from assistance with initial diagnosis to final completion. Truesdell has completed more than 7,000 projects on a wide variety of national and international repair projects ranging from high-rise buildings, nuclear power generating plants, airports, residential projects, water treatment facilities, and a sizeable amount of public agency DOT work. Truesdell was founded in 1975 and is based in Tempe, Arizona.

Buy -
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