M&A Deal Summary

Northwood Ventures and GarMark Partners Acquire Michigan Seamless Tube

On January 1, 2004, private equity firm Northwood Ventures and mezzanine finance firm GarMark Partners acquired manufacturer Michigan Seamless Tube from Atlas Holdings

Acquisition Highlights
  • This is Northwood Ventures’ 1st and GarMark Partners’ 1st transaction in the Manufacturing sector.
  • This is Northwood Ventures’ 32nd and GarMark Partners’ 5th transaction in the United States.
  • This is Northwood Ventures’ 1st and GarMark Partners’ 1st transaction in Michigan.
Investment Fate
  • Michigan Seamless Tube was sold to a strategic buyer in 2008.

M&A Deal Summary

Date 2004-01-01
Target Michigan Seamless Tube
Sector Manufacturing
Buyer(s) Northwood Ventures
GarMark Partners
Sellers(s) Atlas Holdings
Deal Type Special Situations/Distressed

Target

Michigan Seamless Tube

South Lyon, Michigan, United States
Michigan Seamless Tube is the manufacturer of carbon and alloy seamless cold drawn pipe and tube for over 80 years.

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Buyer(S) 2

Buyer

Northwood Ventures

Investor Investor Investor Investor


Category Private Equity Firm
Founded 1983
PE ASSETS 100M USD
Size Small
Type Sector Agnostic
DESCRIPTION

Northwood Ventures is a private investment firm that invests at all stages of company development, including venture, buyout, consolidation, growth, recapitalization, and turnaround situations. Northwood prefers opportunities located within the US and will consider both minority and control situations. Northwood's typical investment ranges from $5 to $15 million. Target sectors include telecommunications, manufacturing, retailing/consumer, financial services, and service-oriented business industries. Northwood Ventures was formed in 1983 and is based in Syosset, New York.


DEAL STATS #
Overall 34 of 71
Sector: Manufacturing M&A 1 of 2
Type: Special Situations/Distressed M&A Deals 1 of 1
State: Michigan M&A 1 of 2
Country: United States M&A 32 of 65
Year: 2004 M&A 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2004-01-01 Anterix

Woodland Park, New Jersey, United States

Anterix is a carrier wireless communications provider of mobile workforce communications and location-based solutions that increase the productivity of field-based workers and the efficiency of their dispatch and call center operations. Anterix was founded in 1997 and is based in Woodland Park, New Jersey.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2004-09-08 S&P Global Market Intelligence

New York, New York, United States

S&P Capital IQ is a provider of multi-asset class data, research and analytics to institutional investors, investment advisors and wealth managers around the world.

Sell $200M
Buyer

GarMark Partners

Stamford, Connecticut, United States

Investor Investor Investor Investor Investor


Category Mezzanine Finance Firm
Founded 1997
PE ASSETS 1.3B USD
Size Large
Type Sector Agnostic
DESCRIPTION

GarMark Partners is a private investment firm that makes debt and equity investments in a wide range of companies. The Firm invests in businesses at various stages of development to facilitate acquisitions, divestitures, recapitalizations, turnarounds or growth. Garmark typically invests between $5 and $30 million with an EBITDA $3 and $25 million. The firm prefers to invest in the sectors of manufacturing/industrial products, distribution, business services, consumer brands, food/nutrition products, transportation, healthcare, retail, and restaurants. GarMark Partners was formed in 1997 and is based in Stamford, Connecticut.


DEAL STATS #
Overall 7 of 38
Sector: Manufacturing M&A 1 of 2
Type: Special Situations/Distressed M&A Deals 1 of 1
State: Michigan M&A 1 of 2
Country: United States M&A 5 of 36
Year: 2004 M&A 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2002-12-16 BC Components Holdings B.V

Eindhoven, Netherlands

BC Components Holdings B.V (Beyschlag Centralab components) is a manufacturer of passive electronic components.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2004-10-04 Rough Country

Dyersburg, Tennessee, United States

Rough Country is a designer and manufacturer of specialty-engineered, metal-formed exhaust hardware components for automobiles and light trucks. Rough Country was founded in 1939 and is based in Dyersburg, Tennessee.

Sell -

Seller(S) 1

SELLER

Atlas Holdings

Greenwich, Connecticut, United States

Category Private Equity Firm
Founded 2002
Size Large
Type Sector Agnostic
DESCRIPTION

Atlas Holdings is a private equity and investment holding firm focused on acquiring controlling interests in businesses operating in traditional, basic industries. Areas of interest include automotive, business services, industrial services, building materials, pulp and paper, distribution, energy, packaging, specialty steel and wood products. The Firm will participate in bankruptcy investments, highly structured equity and debt investments, leveraged ESOP acquisitions, out-of-court restructurings, and roll-ups. Atlas typically partners with private and institutional investors and structures one investment at a time. Atlas Holdings was established in 2002 and is based in Greenwich, Connecticut.


DEAL STATS #
Overall 1 of 14
Sector: Manufacturing M&A 1 of 2
Type: Special Situations/Distressed M&A Deals 1 of 1
State: Michigan M&A 1 of 1
Country: United States M&A 1 of 12
Year: 2004 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2002-10-01 Michigan Seamless Tube

South Lyon, Michigan, United States

Michigan Seamless Tube is the manufacturer of carbon and alloy seamless cold drawn pipe and tube for over 80 years.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2006-05-01 CanamPAC

Toronto, Ontario, Canada

CanamPAC provides graphic, packaging, and marketing material solutions. The Company offers structural designing, paperboard packaging, prepress, digital asset management, printing, prototyping, and sampling services. CANAMPAC serves customers in North America.

Buy -