M&A Deal Summary

Peninsula Capital Partners and Madison Industries Acquire Brown Plastics Machinery

On December 1, 1998, mezzanine finance firm Peninsula Capital Partners and private equity firm Madison Industries acquired machinery company Brown Plastics Machinery for 62M USD

Acquisition Highlights
  • This is Peninsula Capital Partners’ 1st and Madison Industries’ 3rd transaction in the Machinery sector.
  • This is Peninsula Capital Partners’ and Madison Industries’ 3rd largest (disclosed) transaction.
  • This is Peninsula Capital Partners’ 12th and Madison Industries’ 5th transaction in the United States.
  • This is Peninsula Capital Partners’ 5th and Madison Industries’ 4th transaction in Michigan.
Investment Fate
  • Brown Plastics Machinery was sold to a strategic buyer in 2007.

M&A Deal Summary
Date 1998-12-01
Target Brown Plastics Machinery
Sector Machinery
Buyer(s) Peninsula Capital Partners
Madison Industries
Deal Type Buyout (LBO, MBO, MBI)
Deal Value 62M USD

Target

Brown Plastics Machinery

Beaverton, Michigan, United States
Brown Machine is a leading global manufacturer of thermoforming machinery for the plastics processing industry. Brown Machine offers a complete line of both continuous and cut-sheet thermoforming equipment to the packaging, automotive and appliance industries. Brown is located in Beaverton, Michigan and London, United Kingdom.

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Buyer(S) 2

Buyer

Peninsula Capital Partners

Southfield, Michigan, United States

Investor Investor Investor Investor Investor

Category Mezzanine Finance Firm
Founded 1995
PE ASSETS 1.9B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Peninsula Capital Partners is an investment group focused on providing a range of financing solutions to middle-market companies. The Firm is willing to be a minority or control investor and invests across the capital structure. This includes subordinated debt, preferred or common stock. For mezzanine commitments, Peninsula looks to invest $5 to $40 million. For equity transactions, Peninsula looks to invest $2 to $20 million. Peninsula is a generalist investor. Target sectors include manufacturing, industrial service, distribution, consumer products, professional services, retail, applied technology, transportation, food processing and packaging. Peninsula Capital Partners was formed in 1995 and is based in Detroit, Michigan.

DEAL STATS #
Overall 12 of 128
Sector (Machinery) 1 of 4
Type (Buyout (LBO, MBO, MBI)) 7 of 65
State (Michigan) 5 of 15
Country (United States) 12 of 121
Year (1998) 4 of 4
Size (of disclosed) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
1998-11-01 International Resources

Northbrook, Illinois, United States

International Resources, L.L.C. designs, contract manufactures, markets, and sells collectibles, primarily during the Christmas selling season, under the trademarked names of “Liberty Falls” and “International Santas.” International Resources sells its products through over 800 stores in 45 states.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
1999-04-01 Paramount Cards

Pawtucket, Rhode Island, United States

Paramount Cards is a publisher of greeting cards located in Pawtucket, Rhode Island. The Company distributes its cards primarily through deep discount card shops, including its own chain of stores known as Card$mart (62 licensee and 5 company-owned stores), party stores and other discount retail channels. It is the fifth largest card maker in the U.S., behind Hallmark, American Greetings, Gibson and Recycled Greetings, Inc. The Company specializes in more traditional premium quality cards that retail at prices 50% or more below the printed price on the card.

Buy -
Buyer

Madison Industries

Chicago, Illinois, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1994
Size Large
Type Sector Focused
DESCRIPTION

Madison Industries is a privately held investment holding firm that targets growth investments in and acquisitions of industrial manufacturing companies. Madison prefers businesses with a defensible market niche, established technology, and significant cash-flow growth potential. Madison will also consider turnaround situations. Target opportunities generally have sales between $50 million and $2 billion. Madison Industries is based in Chicago, Illinois.

DEAL STATS #
Overall 5 of 47
Sector (Machinery) 3 of 10
Type (Buyout (LBO, MBO, MBI)) 3 of 21
State (Michigan) 4 of 5
Country (United States) 5 of 39
Year (1998) 3 of 3
Size (of disclosed) 3 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
1998-01-01 Brown Machine

Beaverton, Michigan, United States

Brown Machine LLC is a provider in engineered thermoforming equipment solutions used in a broad spectrum of applications including cups, lids, plates, bowls, food packaging, horticultural, appliance and medical packaging.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
1999-03-01 Plastron Industries

Bensenville, Illinois, United States

Plastron Industries, located in Bensenville, Illinois, is the leading plastic injection molder of thermoplastic bobbins for the electronics industry. Bobbins are used in transformers that supply power to home appliances, personal communications equipment, power tools, small motors, lighting ballasts, safety equipment, computer equipment and automobile dashboards.

Sell $20M
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