M&A Deal Summary

One Equity Partners and Stellus Capital Management Acquire Guidant

On November 20, 2023, private equity firms One Equity Partners and Stellus Capital Management acquired test/measurement equipment company Guidant from TechnipFMC

Acquisition Highlights
  • This is One Equity Partners’ 2nd and Stellus Capital Management’s 1st transaction in the Test/Measurement Equipment sector.
  • This is One Equity Partners’ 74th and Stellus Capital Management’s 61st transaction in the United States.
  • This is One Equity Partners’ 8th and Stellus Capital Management’s 12th transaction in Texas.

M&A Deal Summary

Date 2023-11-20
Target Guidant
Sector Test/Measurement Equipment
Buyer(s) One Equity Partners
Stellus Capital Management
Sellers(s) TechnipFMC
Deal Type Divestiture

Target

Guidant

Houston, Texas, United States
Guidant provides liquid meters, integrated load management metering systems and related digital solutions involved in materials transfer through infrastructure. Guidant is based in Houston, Texas.

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Buyer(S) 2

Buyer

One Equity Partners

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2001
PE ASSETS 10.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

One Equity Partners (OEP) is a private equity firm that targets buyout and growth capital investments in North America, Europe, and Asia. OEP prefers to be the lead investor and typically commits $30 to $150 million per transaction. Sectors of interest include industrial products/services, consumer, retail, chemicals, media, communications, and healthcare. One Equity Partners was formed in 2001 and spun out of JP Morgan Chase in 2015. One Equity Partners is based in New York, New York.


DEAL STATS #
Overall 124 of 138
Sector: Test/Measurement Equipment M&A 2 of 2
Type: Divestiture M&A Deals 27 of 31
State: Texas M&A 8 of 9
Country: United States M&A 74 of 82
Year: 2023 M&A 6 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-10-23 Walki Group

Espoo, Finland

Walki Group is a specialty packaging materials manufacturer, offering consumer and industrial packaging for food and specialty consumer products, as well as engineered materials, such as insulation and fire-retardant facings, sustainable membranes, and protective clothing applications. Walki Group was founded in 1930 and is based in Espoo, Finland.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-01-11 Associated Spring

Brighton, Michigan, United States

Associated Spring specializes in engineered spring and precision metal component manufacturing, progressive stamping, micro-stamping, and fine blanking. Associated Spring was founded in 1857 and is based in Brighton, Michigan.

Buy $175M
Buyer

Stellus Capital Management

Houston, Texas, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2004
PE ASSETS 3.4B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Stellus Capital Management is a provider of debt and equity capital to middle-market companies headquartered throughout the US and Canada. For credit commitments, Stellus looks to provide $10 to $50 million of capital to help support buyouts, acquisitions, recapitalization, growth opportunities, rescue financing, distressed situations, as well as bridge loans. Sectors' of interest for Stellus' credit practice includes business services, energy, general industrial, government, healthcare, software and specialty finance. Stellus' equity practice seeks to provide $20 to $100 million to small and mid-sized energy (upstream, oilfield services, midstream) companies. Stellus Capital was originally formed in 2004 as Laminar Direct Capital and operated as the direct investing unit of D.E. Shaw. The Group became independent in 2012. Stellus has offices in Houston, New York City, and Washington DC.


DEAL STATS #
Overall 62 of 86
Sector: Test/Measurement Equipment M&A 1 of 2
Type: Divestiture M&A Deals 2 of 4
State: Texas M&A 12 of 16
Country: United States M&A 61 of 83
Year: 2023 M&A 10 of 10
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-08-16 Arctiq

Brentwood, Tennessee, United States

Arctiq is a professional IT services, cybersecurity, and risk management organization that delivers cost-effective consulting, end-to-end IT solutions, managed services, and product sales. The company serves state and local governments, educational institutions, healthcare organizations, and enterprise clients across major IT markets nationwide. Arctiq is based in Brentwood, Tennessee.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-01-04 Michelli Weighing & Measurement

Harahan, Louisiana, United States

Michelli Weighing & Measurement is a test and measurement business providing calibration, maintenance, inspection, and installation services and products for industrial weighing equipment, precision measurement devices, and calibration equipment. Michelli Weighing & Measurement was founded in 1947 and is based in Harahan, Louisiana.

Buy -

Seller(S) 1

SELLER

TechnipFMC

Newcastle Upon Tyne, United Kingdom

Category Company
Founded 2015
Sector Energy Services and Equipment
Employees21,000
Revenue 9.1B USD (2024)
DESCRIPTION
Entrance to FMC Technologies' corporate headquarters in Houston, Texas.
Entrance to FMC Technologies' corporate headquarters in Houston, Texas.

TechnipFMC is a subsea provider of systems, technologies, and services to the oil and gas industry. TechnipFMC helps exploration and production customers overcome difficult challenges with onshore and offshore drilling. TechnipFMC was founded in 2015 and is based in Newcastle Upon Tyne, United Kingdom.


DEAL STATS #
Overall 6 of 6
Sector: Test/Measurement Equipment M&A 1 of 1
Type: Divestiture M&A Deals 5 of 5
State: Texas M&A 2 of 2
Country: United States M&A 6 of 6
Year: 2023 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-08-11 Loke Marine Minerals

Stavanger, Norway

Loke Marine Minerals is focused on providing minerals for the green transition to dramatically increase the demand for numerous key minerals. Its low carbon technologies will be key drivers: wind and solar power, energy storage, electrification of transport, buildings, industries and other areas opting for smart solutions. Loke Marine Minerals is based in Stavanger, Norway.

Buy -