M&A Deal Summary

Peninsula Capital Partners Acquires Kelly Aerospace

On May 1, 2005, mezzanine finance firm Peninsula Capital Partners acquired aerospace company Kelly Aerospace from American Capital

Acquisition Highlights
  • This is Peninsula Capital Partners’ 1st transaction in the Aerospace sector.
  • This is Peninsula Capital Partners’ 45th transaction in the United States.
  • This is Peninsula Capital Partners’ 1st transaction in Alabama.

M&A Deal Summary

Date 2005-05-01
Target Kelly Aerospace
Sector Aerospace
Buyer(s) Peninsula Capital Partners
Sellers(s) American Capital
Deal Type Recapitalization

Target

Kelly Aerospace

Montgomery, Alabama, United States
Kelly is primarily a designer, manufacturer and marketer of turbocharger system products and electrical and fuel system components for both general aviation OEM airframe manufacturers and the general aviation aftermarket. They also manufacture related turbocharger products for the performance automotive market

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Buyer(S) 1

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 47 of 132
Sector: Aerospace M&A 1 of 3
Type: Recapitalization M&A Deals 8 of 33
State: Alabama M&A 1 of 2
Country: United States M&A 45 of 124
Year: 2005 M&A 2 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2005-01-01 The Cedar Bus Co.

Buffalo, New York, United States

We Care Transportation, based in Buffalo, NY, is a regional provider of transportation in 3 market segments: Non-emergency medical transportation is provided through a fleet of ambulettes; school transportation is provided through a fleet of school buses; and leisure and tourism transportation services are carried out through a fleet of specialty vehicles including: trolleys, buses, limousines, and coaches.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2005-08-17 Tractech

Madison Heights, Michigan, United States

Tractech, Inc. designs, engineers and manufactures traction modifying differentials and specialty clutches for a variety of non-automotive applications including specialty vehicle, military vehicle, construction equipment, medium duty truck and off-road aftermarket segments.

Sell -

Seller(S) 1

SELLER

American Capital


Category Private Equity Firm
Founded 1997
PE ASSETS 22.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

American Capital was a publicly traded buyout and mezzanine investment firm. American Capital invested in buyouts, growth capital financings, acquistion financings, and recapitalizations. The Firm looked to finance businesses with at least $4 million in EBITDA and valued between $20 and $500 million. American Capital ws a generalist firm with broad interest in traditional industries such as manufacturing, distribution, and services. American Capital's European investment affiliate is European Capital. European Capital looked to invest $10 to $600 million of equity, mezzanine, and/or senior debt in similar opportunities across Europe. American Capital was formed in 1997 and in January 2017, merged with Ares Capital Management.


DEAL STATS #
Overall 20 of 194
Sector: Aerospace M&A 2 of 5
Type: Recapitalization M&A Deals 1 of 4
State: Alabama M&A 1 of 5
Country: United States M&A 20 of 186
Year: 2005 M&A 4 of 15
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2005-04-18 Electro-Component Assembly

Newbury Park, California, United States

Electro-Component Assembly is a manufacturer of disposable torque wrenches, hexagon keys and solid wrenches specifically designed for tightening and loosening screws during the installation of pacemakers, defibrillators and other implantable medical devices. The Company distributes its products to pacemaker and defibrillator OEMs who then package the appropriate wrench or key with their implantable cardiac devices. Electro-Component Assembly was founded in 1979 and is based in Newbury Park, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2005-05-02 Selig Sealing Products

Forrest, Illinois, United States

Selig Sealing Products, Inc. is a designer and manufacturer of highly engineered closure liner solutions for food, beverage, pharmaceutical, healthcare, personal care and industrial applications.

Buy -