M&A Deal Summary

New Mountain Capital and Antares Capital Acquire Ascensus Specialties

On July 7, 2021, private equity firms New Mountain Capital and Antares Capital acquired chemicals company Ascensus Specialties from Wind Point Partners

Acquisition Highlights
  • This is New Mountain Capital’s 6th and Antares Capital’s 2nd transaction in the Chemicals sector.
  • This is New Mountain Capital’s 72nd and Antares Capital’s 47th transaction in the United States.
  • This is New Mountain Capital’s 1st and Antares Capital’s 1st transaction in Washington.

M&A Deal Summary

Date 2021-07-07
Target Ascensus Specialties
Sector Chemicals
Buyer(s) New Mountain Capital
Antares Capital
Sellers(s) Wind Point Partners
Deal Type Recapitalization

Target

Ascensus Specialties

Bellevue, Washington, United States
Ascensus Specialties is a manufacturer of specialty chemicals primarily in two end-markets: pharmaceutical drug manufacturing and pulp & paper processing. In pharmaceutical drug manufacturing, sodium borohydride is used as a reducing agent. In pulp & paper processing, sodium borohydride is used as a bleaching agent to prepare paper products for end-customer use. Ascensus Specialties was founded 2014 and is based in Bellevue, Washington.

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Buyer(S) 2

Buyer

New Mountain Capital

New York, New York, United States

Category Private Equity Firm
Founded 2000
PE ASSETS 35.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

New Mountain Capital is a private investment firm focused on investment in public and private companies in a variety of industries. New Mountain generally invests $100 to $500 million per transaction and looks for businesses with strong market positions and high barriers to entry. New Mountain also prefers businesses that succeed in both good and bad economies. Sectors of interest include education, healthcare, business services, federal IT services, media, software, consumer products, logistics, financial services and technologies, and energy. New Mountain Capital was formed in 2000 and is based in New York City.


DEAL STATS #
Overall 76 of 95
Sector (Chemicals) 6 of 6
Type (Recapitalization) 6 of 6
State (Washington) 1 of 2
Country (United States) 72 of 90
Year (2021) 5 of 9
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-06-01 Qualus Power Services

Cincinnati, Ohio, United States

Qualus Power Services is a provider of engineering and specialized technical field services to utility and private power grid infrastructure. Qualus Power Services was founded in 2018 and is based in Cincinnati, Ohio.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-07-19 DRB

Akron, Ohio, United States

DRB is a provider of tech-enabled devices and software solutions to the car wash industry. DRB Systems offers tech-enabled devices, software, and expert support to help car wash operators run their car wash, manage their daily performance, and grow their business. DRB was founded in 1984 and is based in Akron, OH.

Sell $965M
Buyer

Antares Capital

Miami, Florida, United States

Investor Investor


Category Private Equity Firm
Founded 1993
Size Small
Type Sector Agnostic
DESCRIPTION

Antares Capital is a private investment group that targets growth capital financings as well as management buyout opportunities. The Firm focuses on investments based in the Southeast US and Texas. Prospective companies generally have proven business models, modest capital requirements for growth, and operate in large and growing markets. The Firm looks to commit $500k to $5 million per investment. Antares will not invest in real estate, mineral exploration, distributors, franchisees, or project financings. Antares was founded in 1993 and is based in Miami, Florida.


DEAL STATS #
Overall 48 of 55
Sector (Chemicals) 2 of 2
Type (Recapitalization) 3 of 4
State (Washington) 1 of 1
Country (United States) 47 of 54
Year (2021) 2 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-06-02 Warehouse On Wheels

Fort Mitchell, Kentucky, United States

Warehouse On Wheels is a provider of trailer rental solutions to manufacturing, distribution and 3PL customers. The Company owns and manages a fleet of over 16,000 units including dry van trailers, containers, flatbeds, and chassis, operating via 19 branches throughout the Midwest, South and Southwest U.S. Warehouse On Wheels was founded in 2017 and is based in Fort Mitchell, Kentucky.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-07-26 Medallia

Pleasanton, California, United States

Medallia is a provider of cloud based platform captures billions of experience signals across interactions including all voice, video, digital, IOT, social media and corporate messaging tools. Medallia was founded in 2001 and is based in Pleasanton, California.

Buy $6.4B

Seller(S) 1

SELLER

Wind Point Partners

Chicago, Illinois, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1984
PE ASSETS 7.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Wind Point Partners is a private equity firm focused on acquisitions of mid-sized companies operating in the business services, consumer products, healthcare services, and industrial products sectors. Wind Point looks to invest $60 to $130 million in companies valued up to $500 million. Prospective transaction types include leveraged buyouts, recapitalizations, industry consolidations, and growth capital financings. Wind Point Partners began investing in 1984 and is based in Chicago.


DEAL STATS #
Overall 49 of 56
Sector (Chemicals) 3 of 3
Type (Recapitalization) 1 of 1
State (Washington) 1 of 1
Country (United States) 44 of 51
Year (2021) 4 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-06-30 Pestell Nutrition

New Hamburg, Ontario, Canada

Pestell Nutrition is a distributor of animal feed minerals, ingredients, and additives in Canada, offering hundreds of distinct products. PMI supplies hundreds of customers throughout Canada and the United States through its own dedicated warehouses and internal fleet, as well as third-party warehouses and logistics providers. It is a full-line manufacturer of cat litter and small animal bedding products serving customers in Canada and the United States.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-08-11 Aurora Plastics

Streetsboro, Ohio, United States

Aurora Plastics produces customized rigid polyvinyl chloride (“RPVC”) compounds for extruding and injection molding customers throughout North America. Aurora provides quality and service through highly automated manufacturing facilities in Ohio and North Carolina. Aurora Plastics was founded in 1997 and is based in Streetsboro, Ohio.

Sell -