M&A Deal Summary

Pegasus Capital Group and Gladstone Investment Acquire Jackrabbit

On April 1, 2013, private equity firm Pegasus Capital Group and business development company Gladstone Investment acquired machinery company Jackrabbit for 18M USD

Acquisition Highlights
  • This is Pegasus Capital Group’s 2nd and Gladstone Investment’s 1st transaction in the Machinery sector.
  • This is Pegasus Capital Group’s and Gladstone Investment’s 3rd largest (disclosed) transaction.
  • This is Pegasus Capital Group’s 8th and Gladstone Investment’s 4th transaction in the United States.
  • This is Pegasus Capital Group’s 3rd and Gladstone Investment’s 2nd transaction in California.
Investment Fate
  • Jackrabbit was sold to a consortium of financial buyers in 2019.

M&A Deal Summary
Date 2013-04-01
Target Jackrabbit
Sector Machinery
Buyer(s) Pegasus Capital Group
Gladstone Investment
Deal Type Buyout (LBO, MBO, MBI)
Deal Value 18M USD

Target

Jackrabbit

Ripon, California, United States
Jackrabbit is a manufacturer of harvesting machines that are now standard in the nut farming industry. Jackrabbit’s machines are stapled products in almond, walnut, and pecan harvesting, while Dakota’s self-propelled pruning towers and laser cutting and forming services expand its reach into crop industries, including cherries and avocados. Jackrabbit was founded in 1981 and is based in Ripon, California.

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Buyer(S) 2

Buyer

Pegasus Capital Group

Santa Monica, California, United States
Category Private Equity Firm
Founded 1997
Size Small
Type Sector Agnostic
DESCRIPTION

Pegasus Capital Group is a private investment firm that acquires established, profitable, growth-oriented businesses in non-technology intensive industries. Pegasus has a particular interest in niche-manufacturing, but will also consider value-added distribution and specialty service companies. The Firm prefers North American opportunities. Prospective companies typically have revenues of $5 to $75 million and EBITDA of at least $2 million. Pegasus avoids investing in start-ups, early-stage ventures, technology-driven companies, or minority investments. Pegasus Capital Group was formed in 1997 and is located in Los Angeles, California.

DEAL STATS #
Overall 8 of 10
Sector (Machinery) 2 of 2
Type (Buyout (LBO, MBO, MBI)) 4 of 5
State (California) 3 of 3
Country (United States) 8 of 10
Year (2013) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-10-24 Santier

San Diego, California, United States

Santier, Inc. is a manufacturer of high thermal conductivity metal matrix composites, ceramics and packages/assemblies. Santier was founded in 1991 and is based in San Diego, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-09-09 Midwest Automotive Designs

Elkhart, Indiana, United States

Midwest Automotive Designs LLC is a provider of custom sprinter conversion vans and specialty Manufacturing Custom & Premium Up-fitter of Vans. Midwest Automotive Designs was formed in 2003 and is based in Elkhart, Indiana.

Buy -
Buyer

Gladstone Investment

Investor Investor Investor Investor Investor

Category Business Development Company
Founded 2005
Size Small
Type Sector Agnostic
DESCRIPTION

DEAL STATS #
Overall 4 of 27
Sector (Machinery) 1 of 1
Type (Buyout (LBO, MBO, MBI)) 2 of 15
State (California) 2 of 4
Country (United States) 4 of 26
Year (2013) 1 of 2
Size (of disclosed) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-08-15 SBS Industries

Tulsa, Oklahoma, United States

SBS Industries is a manufacturer and value-added distributor of specialty fasteners and threaded screw products. SBS Industries was founded in 1975 and is based in Tulsa, Oklahoma.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-08-14 Schylling

North Andover, Massachusetts, United States

Schylling is a toy and gift company known for its high-quality classic-style toys. The Company primarily sells into the specialty gift store distribution channel. The Company designs its own proprietary line of toys, designs toys for other brands under license agreements, and acts as a distributor for other toy companies via its unique distribution channel. Schylling was founded in 1975 and is based in North Andover, Massachusetts.

Buy -
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