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  6. Oxbow Industries, Arcspring, Northstar Capital and Convergent Capital Partners Acquire Vectair Systems

M&A Deal Summary

Oxbow Industries, Arcspring, Northstar Capital and Convergent Capital Partners Acquire Vectair Systems

On December 1, 2020, private equity firm Oxbow Industries, private equity firm Arcspring, mezzanine finance firm Northstar Capital and growth capital firm Convergent Capital Partners acquired consumer products company Vectair Systems from Mobeus Equity Partners

Acquisition Highlights
  • This is Oxbow Industries’ 1st, Arcspring’s 1st, Northstar Capital’s 10th and Convergent Capital Partners’ 2nd transaction in the Consumer Products sector.
  • This is Oxbow Industries’ 4th, Arcspring’s 2nd, Northstar Capital’s 92nd and Convergent Capital Partners’ 59th transaction in the United States.
  • This is Oxbow Industries’ 1st, Arcspring’s 1st, Northstar Capital’s 6th and Convergent Capital Partners’ 2nd transaction in Tennessee.

M&A Deal Summary
Date 2020-12-01
Target Vectair Systems
Sector Consumer Products
Buyer(s) Oxbow Industries
Arcspring
Northstar Capital
Convergent Capital Partners
Sellers(s) Mobeus Equity Partners
Deal Type Secondary Buyout

Target

Vectair Systems

Memphis, Tennessee, United States
Vectair Systems is a manufacturer and supplier of hygiene products delivering sanitary solutions to customers and facilities worldwide spanning over 120 countries. Vectair Systems was formed in 1988 and is based in Memphis, Tennessee.

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Buyer(S) 4

Buyer

Oxbow Industries

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2004
PE ASSETS 700M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Oxbow Industries is a private investment and holding company focused on acquiring mid-sized businesses in partnership with management teams. The Firm targets companies with $20 to $250 million and can support a variety of transaction situations including capital for growth and liquidity for ownership. Sectors of interest include consumer products, industrial products, value-added distribution, and business services. Oxbow Industries was formed in 2004 and is headquartered in Minneapolis, Minnesota.

DEAL STATS #
Overall 4 of 5
Sector: Consumer Products M&A 1 of 1
Type: Secondary Buyout M&A Deals 1 of 1
State: Tennessee M&A 1 of 1
Country: United States M&A 4 of 5
Year: 2020 M&A 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-01-01 MN Fence Supply

Savage, Minnesota, United States

MN Fence Supply is a wholesale fence supplier. MN Fence has a reputation of having some of the best-value contractor pricing in the midwest, offering hand-selected top brand manufacturers fence and gate products from wood, chain link, aluminum, steel, and PVC Vinyl. From patio enclosures to access control and safety equipment, MN fence is known for helping contractors realize their maximum ROI. MN Fence Supply is based in Minnesota, Minnesota.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-01-01 Ascent Global

Minneapolis, Minnesota, United States

Ascent is the partner to solve the most challenging cybersecurity problems. The firm is built to evolve its cybersecurity posture, modernize Microsoft solutions, and manage entire security ecosystems. With constantly advancing capabilities, including incident response and CMMC, the company provides organizations with the consulting excellence and operational expertise needed to build a safer tomorrow. Ascent is based in Minneapolis, Minnesota.

Buy -
Buyer

Arcspring

Investor Investor Investor Investor

Category Private Equity Firm
Founded 2019
Size Small
Type Sector Focused
DESCRIPTION

Arcspring is a private equity firm focused on investing in and acquiring middle-market businesses that may be behind in terms of technological abilities and business processes. The Firm does not have any sector preferences and will consider buyouts as well as growth capital situations. Arcspring was founded in 2019 and is based in Atlanta, Georgia.

DEAL STATS #
Overall 2 of 2
Sector: Consumer Products M&A 1 of 1
Type: Secondary Buyout M&A Deals 1 of 1
State: Tennessee M&A 1 of 1
Country: United States M&A 2 of 2
Year: 2020 M&A 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-08-01 Gridiron Football

Southlake, Texas, United States

Gridiron Football is an operator of a football league that provides coaches and facilities in the county and offers games such as recreational and competitive flag football, seven-on-seven football, and flex football, enabling young players to elevate their game. Gridiron Football is based in Southlake, Texas.

Buy -
Buyer

Northstar Capital

Minneapolis, Minnesota, United States

Investor Investor Investor Investor Investor

Category Mezzanine Finance Firm
Founded 1993
PE ASSETS 1.7B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Northstar Capital is a mezzanine finance firm that provides junior capital to middle-market companies operating in the value-added distribution, light manufacturing, business services, financial services, education, and specialty healthcare sectors. Northstar's typical investment size is $5 to $30 million in businesses generating sales of $20 to $300 million with an EBITDA of at least $3 million. Prospective companies have stable cash flows and sustainable margins. Investments typically have maturities of five to eight years. Northstar does not invest in start-ups, real estate development, natural resource exploration, or high technology companies. Northstar Capital was formed in 1993 and is based in Minneapolis, Minnesota.

DEAL STATS #
Overall 96 of 121
Sector: Consumer Products M&A 10 of 13
Type: Secondary Buyout M&A Deals 18 of 22
State: Tennessee M&A 6 of 8
Country: United States M&A 92 of 116
Year: 2020 M&A 4 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-09-22 Windy City Wire Cable & Technology Products

Bolingbrook, Illinois, United States

Windy City Wire Cable & Technology Products LLC is a distributor of high-end, low-voltage wire, cable, and related low-voltage devices (cameras, DVRs, relays, etc.) serving the security, access control, CCTV, fire alarm, and home automation markets. The wire and cable are sold under the SmartWire brand name. Windy City Wire was formed in 1994 and is based in Bolingbrook, Illinois.

Sell £357M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-12-10 Fresche Solutions

Montreal, Quebec, Canada

Fresche Solutions is an application modernization and management solutions, provider. Fresche specializes in helping companies achieve their IT and business goals by better managing and evolving their IBM I applications. Fresche Solutions was founded in 1976 and is based in Montreal, Quebec.

Buy -
Buyer

Convergent Capital Partners

Investor Investor Investor

Category Growth Capital Firm
Founded 1999
PE ASSETS 400M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Convergent Capital is a private investment firm that provides growth and debenture financing to late-stage growth companies. Convergent prefers to commit $3 to $12 million per transaction in businesses with at least $10 million in revenues. Convergent is a generalist investor and will consider businesses in a wide range of industries. Investment funds are typically used to assist growth, but the firm can also structure investments around buyouts, recapitalizations, consolidations, and add-on acquisitions. Convergent is licensed as a SBIC. Convergent Capital was formed in 1999 and is based in Minneapolis, Minnesota.

DEAL STATS #
Overall 59 of 62
Sector: Consumer Products M&A 2 of 2
Type: Secondary Buyout M&A Deals 2 of 2
State: Tennessee M&A 2 of 2
Country: United States M&A 59 of 62
Year: 2020 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-01-23 Innovative Labs

Springville, Utah, United States

Innovative Labs is a developer, formulator, and provider of single serve and multi-dose ingestible health and wellness products for brands and direct sales companies. The company provides highly differentiated formulating, blending, filling, distribution, and other critical services for small-format nutritional supplements, food items, household products, and other consumer packaged goods. Innovative Labs was founded in 2006 and is based in Springville, Utah.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-08-19 Cloud for Good

Irving, Texas, United States

Cloud for Good is a provider of Salesforce solutions focused on the higher education and nonprofit sectors. Cloud for Good has delivered over 2,000 Salesforce implementations and solutions to more than 1,000 organizations, from the Massachusetts Institute of Technology (MIT) and Harvard to the National Aquarium and ChildFund International. Cloud for Good was founded in 2010 and is based in Irving, Texas.

Buy -

Seller(S) 1

SELLER

Mobeus Equity Partners

London, United Kingdom

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2004
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Mobeus Equity Partners is a generalist investor in UK-based companies. Mobeus looks to invest between £2 and £20 million in a variety of transaction situations. These include MBOs, secondary buyouts, debt financings, shareholder liquidity needs, and recapitalizations. Mobeus generally targets high growth, profitable (£1 to £5 million) businesses with sustainable competitive advantages. Mobeus is based in London.

DEAL STATS #
Overall 38 of 50
Sector: Consumer Products M&A 3 of 3
Type: Secondary Buyout M&A Deals 9 of 12
State: Tennessee M&A 1 of 1
Country: United States M&A 1 of 1
Year: 2020 M&A 5 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-12-01 Advantedge Commercial Finance

Oxon, United Kingdom

Advantedge Commercial Finance is a provider of cash flow solutions to small and medium-sized businesses, giving them the confidence to grow. Advantedge Commercial Finance was founded in 2001 and is based in Oxon, United Kingdom.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-12-15 ABL 1Touch

Reigate, United Kingdom

ABL 1Touch is a tech-enabled automotive accident repair group known for its technical innovation, low cost and environmentally-friendly ‘repair over replace’ methodology, and market-leading levels of customer satisfaction. ABL 1Touch is based in Reigate, United Kingdom.

Buy -
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