M&A Deal Summary

New Mountain Capital Acquires ILC Dover

On February 3, 2020, private equity firm New Mountain Capital acquired manufacturer ILC Dover from Behrman Capital

Acquisition Highlights
  • This is New Mountain Capital’s 1st transaction in the Manufacturing sector.
  • This is New Mountain Capital’s 59th transaction in the United States.
  • This is New Mountain Capital’s 2nd transaction in Delaware.
Investment Fate
  • ILC Dover was sold to a publicly-traded strategic buyer in 2024 for 2.3B USD.

M&A Deal Summary

Date 2020-02-03
Target ILC Dover
Sector Manufacturing
Buyer(s) New Mountain Capital
Sellers(s) Behrman Capital
Deal Type Secondary Buyout
Advisor(s) Houlihan Lokey (Financial)
Latham & Watkins (Legal)

Target

ILC Dover

Frederica, Delaware, United States
ILC Dover provides high-performance flexible materials for complex government and commercial applications, including bio-pharmaceutical and personal hazmat protection, infrastructure protection, inflatable applications, lighter-than-air airships, and pressurized spacesuits. ILC Dover has manufacturing locations in Delaware, Texas, and Switzerland.

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Buyer(S) 1

Buyer

New Mountain Capital

New York, New York, United States

Category Private Equity Firm
Founded 1999
PE ASSETS 55.0B 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 1999 and is based in New York, New York.


DEAL STATS #
Overall 63 of 103
Sector: Manufacturing M&A 1 of 2
Type: Secondary Buyout M&A Deals 24 of 39
State: Delaware M&A 2 of 2
Country: United States M&A 59 of 98
Year: 2020 M&A 2 of 10
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-01-16 Classic Collision

Atlanta, Georgia, United States

Classic Collision is a provider of quality auto body repairs with properly trained technicians and the appropriate equipment. Classic Collision was founded in 1983 and is based in Atlanta, Georgia.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-04-14 Pearce Services

Paso Robles, California, United States

Pearce Services provides engineering, operations, and maintenance services for mission-critical telecommunications and renewable energy infrastructure across the United States. The Company serves sectors including wireless and wireline networks, solar and wind energy, EV charging, and energy storage systems. Pearce Services is based in Paso Robles, California.

Buy -

Seller(S) 1

SELLER

Behrman Capital

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1991
PE ASSETS 4.0B USD
Size Large
Type Sector Focused
DESCRIPTION

Behrman Capital is a private equity firm focused on management buyouts, leveraged buildups and recapitalizations of established growth companies. Areas of interest include healthcare, defense, specialty manufacturing, business to business outsourcing, and information technology. Behrman looks to invest in the range from $25 to $125 million of equity capital in companies generating sales of $25 to $250 million. Behrman Capital was formed in 1991. The Firm is based in New York City with an additional office in San Francisco.


DEAL STATS #
Overall 19 of 23
Sector: Manufacturing M&A 1 of 1
Type: Secondary Buyout M&A Deals 7 of 10
State: Delaware M&A 1 of 1
Country: United States M&A 19 of 23
Year: 2020 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-12-03 Tresys Technology

Columbia, Maryland, United States

Tresys Technology is a provider of comprehensive cybersecurity solutions that meet the challenges of the most demanding environments in the world. Tresys solutions safeguard classified government networks and ensure the secure delivery of critical industrial, financial and operational data. Along with unparalleled industry expertise, Tresys’ certified and accredited products protect information and ensure that the appropriate data gets to the correct location in a timely and secure manner. Tresys Technology was founded in 1999 and is based in Columbia, Maryland.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-07-07 Shur-Co

Yankton, South Dakota, United States

Shur-Co is a manufacturer of tarp and containment systems designed for trucks, trailers, and agricultural equipment. The company offers a wide range of products including electric tarp systems, rollover tarps, and containment solutions that protect and secure loads during transport. Shur-Co was founded in 1954 and is based in Yankton, South Dakota.

Buy -