M&A Deal Summary

Optima International of Miami Acquires Michigan Seamless Tube

On July 8, 2008, Optima International of Miami acquired manufacturer Michigan Seamless Tube from Northwood Ventures and GarMark Partners

Acquisition Highlights
  • This is Optima International of Miami’s 1st transaction in the Manufacturing sector.
  • This is Optima International of Miami’s 1st transaction in the United States.
  • This is Optima International of Miami’s 1st transaction in Michigan.

M&A Deal Summary

Date 2008-07-08
Target Michigan Seamless Tube
Sector Manufacturing
Buyer(s) Optima International of Miami
Sellers(s) Northwood Ventures
GarMark Partners
Deal Type Add-on Acquisition

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) 1

Buyer

Optima International of Miami

Miami, Florida, United States

Category Company
Sector Manufacturing
DESCRIPTION

Optima International of Miami, Inc. is a manufacturer of tire parts.


DEAL STATS #
Overall 1 of 1
Sector: Manufacturing M&A 1 of 1
Type: Add-on Acquisition M&A Deals 1 of 1
State: Michigan M&A 1 of 1
Country: United States M&A 1 of 1
Year: 2008 M&A 1 of 1

Seller(S) 2

SELLER

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 35 of 53
Sector: Manufacturing M&A 1 of 2
Type: Add-on Acquisition M&A Deals 15 of 22
State: Michigan M&A 1 of 1
Country: United States M&A 33 of 48
Year: 2008 M&A 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2008-01-01 HOA

Atlanta, Georgia, United States

HOA is an operator of over 430 Hooters restaurants in 44 states and 27 foreign countries. HOA is well-known for its brand of food and fun, featuring a casual beach-theme atmosphere, a menu that features seafood, sandwiches and Hooters nearly, chicken wings, and service provided by the All-American cheerleaders, the Hooters Girls. HOA was founded in 1983 and is based in Atlanta, Georgia.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2008-07-21 TriState Capital Bank

Pittsburgh, Pennsylvania, United States

TriState Capital Bank is a commercial bank dedicated to providing customized banking solutions for middle-market businesses, professionals. TriState Capital Bank was founded in 2006 and is based in Pittsburgh, Pennsylvania.

Buy -
SELLER

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 10 of 21
Sector: Manufacturing M&A 1 of 1
Type: Add-on Acquisition M&A Deals 7 of 14
State: Michigan M&A 1 of 2
Country: United States M&A 8 of 19
Year: 2008 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2008-06-19 Stant

Connersville, Indiana, United States

Stant is a designer, manufacturer and distributor of automotive and industrial products including fuel caps, radiator and oil filler caps, thermostats, fuel vapor recovery systems and carbon canisters. The company sells products globally to original equipment manufacturers as well as to the aftermarket. Stant was founded in 1910 and is based in Connersville, Indiana.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2008-09-27 New Horizons Plastics Recycling

Greenville, South Carolina, United States

New Horizons is a leading manufacturer of recycled plastics primarily for PET bottles and containers. The company is one of the only fully-integrated, environmentally-sound "bottle-to-bottle" recyclers, helping to support its customers in their global effort to minimize waste and utilize recycled content.

Buy -