M&A Deal Summary

Nancy Creek Capital Management and Toxaway Capital Partners Acquire Pharos Marine Automatic Power

On June 10, 2009, mezzanine finance firm Nancy Creek Capital Management and private equity firm Toxaway Capital Partners acquired metals/mining company Pharos Marine Automatic Power

Acquisition Highlights
  • This is Nancy Creek Capital Management’s 1st and Toxaway Capital Partners’ 1st transaction in the Metals/Mining sector.
  • This is Nancy Creek Capital Management’s 10th and Toxaway Capital Partners’ 2nd transaction in the United States.
  • This is Nancy Creek Capital Management’s 2nd and Toxaway Capital Partners’ 2nd transaction in Texas.

M&A Deal Summary
Date 2009-06-10
Target Pharos Marine Automatic Power
Sector Metals/Mining
Buyer(s) Nancy Creek Capital Management
Toxaway Capital Partners
Deal Type Buyout (LBO, MBO, MBI)

Target

Pharos Marine Automatic Power

Houston, Texas, United States
Pharos Marine Automatic Power designs, manufactures, sells, and services marine navigational lighting and signaling with a worldwide installation base. The company’s products are installed in ports, harbors, lighthouses, offshore oil rigs, bridges, towers, buoys, and other structures where aircraft or marine navigation is a concern. Pharos Marine Automatic Power was founded in 1947 and is based in Houston, Texas.

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Buyer(S) 2

Buyer

Nancy Creek Capital Management

Atlanta, Georgia, United States

Investor Investor

Category Mezzanine Finance Firm
Founded 2005
PE ASSETS 138M USD
Size Small
Type Sector Agnostic
DESCRIPTION

Nancy Creek Capital (NCP) is a provider of equity and mezzanine capital to small and medium-sized companies throughout the Southeast US. NCP focuses profitable businesses with experienced management teams. The Firm targets companies with $10 to $100 million in sales and at least $1 million in EBITDA. NCP looks to invest $1 to $5 million per transaction (up to $10 million with co-investors). Areas of interest include manufacturing, healthcare, distribution, services, and technology. In addition to funding businesses, NCP also provides financing for real estate opportunities, including commercial, industrial, office, single and multi-family residential projects. The Firm will not invest in startups or turnaround situations. Nancy Creek Capital is a unit of The Branch-Shelton Company LLC. The Firm was formed in 2005 and is based in Atlanta, Georgia.

DEAL STATS #
Overall 10 of 13
Sector (Metals/Mining) 1 of 1
Type (Buyout (LBO, MBO, MBI)) 6 of 7
State (Texas) 2 of 2
Country (United States) 10 of 13
Year (2009) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2009-05-13 Relevate

Springfield, Virginia, United States

Relevate provides robust data solutions and data-management services. Relevate is based in Springfield, Virginia.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2010-03-15 Xorail

Jacksonville, Florida, United States

Xorail LLC, is a provider of signal and communications engineering services to the railroad industry in North America. Xorail provides a variety of engineering, design and construction services, mainly for railway signaling systems. These services include design solutions for wayside signaling, positive train control systems and highway grade crossing warning systems, site surveys, systems integration, and field construction and installation of wayside equipment.

Sell $40M
Buyer

Toxaway Capital Partners

Investor Investor

Category Private Equity Firm
Founded 2004
Size Small
Type Sector Agnostic
DESCRIPTION

Toxaway Capital Partners is a private equity firm focused on buyouts, turnarounds, or acquiring divestitures of larger corporations. The Firm prefers businesses operating in the Southeast or Mid-Atlantic areas of the US and will consider companies with $5 to $50 million in revenue. Sectors of interest include distribution, business/consumer services, and light manufacturing. Toxaway Capital Partners is based in Atlanta, Georgia.

DEAL STATS #
Overall 2 of 2
Sector (Metals/Mining) 1 of 1
Type (Buyout (LBO, MBO, MBI)) 2 of 2
State (Texas) 2 of 2
Country (United States) 2 of 2
Year (2009) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2006-11-03 TWR Lighting

Houston, Texas, United States

TWR Lighting is specialized in hazard lighting and aviation obstruction lighting products and services. TWR Lighting was founded in 1981 and is based in Houston, Texas.

Buy -
Mergr

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