M&A Deal Summary

Petro Holdings Acquires Champion Energy

On May 10, 2010, Petro Holdings acquired distribution company Champion Energy from Citizens Capital and Brookside Equity Partners

Acquisition Highlights
  • This is Petro Holdings’ 1st transaction in the Distribution sector.
  • This is Petro Holdings’ 1st transaction in the United States.
  • This is Petro Holdings’ 1st transaction in New York.

M&A Deal Summary

Date 2010-05-10
Target Champion Energy
Sector Distribution
Buyer(s) Petro Holdings
Sellers(s) Citizens Capital
Brookside Equity Partners
Deal Type Add-on Acquisition

Target

Champion Energy

New Rochelle, New York, United States
Distributor of residential and commercial heating oil.

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Buyer(S) 1

Buyer

Petro Holdings

Stamford, Connecticut, United States

Category Company
Founded 1903
Sector Oil/Gas Exploration
DESCRIPTION


DEAL STATS #
Overall 1 of 1
Sector: Distribution M&A 1 of 1
Type: Add-on Acquisition M&A Deals 1 of 1
State: New York M&A 1 of 1
Country: United States M&A 1 of 1
Year: 2010 M&A 1 of 1

Seller(S) 2

SELLER

Citizens Capital

Boston, Massachusetts, United States

Category Private Equity Firm
Founded 1997
PE ASSETS 500M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Citizens Capital is the private equity affiliate of Citizens Financial and provides both mezzanine and equity capital to later-stage privately-held companies in the US. Citizens looks to commit $3 to $15 million in subordinated debt transactions and $1 to $3 million for growth equity needs. Target sectors include manufacturing, consumer products, distribution, and service-based industries. The Firm's investment horizon is five to seven years. Citizens Capital is based in Boston, Massachusetts.


DEAL STATS #
Overall 5 of 11
Sector: Distribution M&A 1 of 1
Type: Add-on Acquisition M&A Deals 3 of 8
State: New York M&A 1 of 1
Country: United States M&A 5 of 11
Year: 2010 M&A 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2006-06-16 Sensitech

Beverly, Massachusetts, United States

Sensitech offers a robust portfolio of products and services designed to help you monitor and manage the cold chain of the world’s most temperature-sensitive, perishable products: food, pharmaceuticals, biologics, and industrial chemicals.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2010-12-31 Akibia

Westborough, Massachusetts, United States

Akibia's innovative IT solutions enable clients to optimize, secure, manage and support their mission-critical infrastructure. Since 1988, we've been helping companies reduce costs, manage risk and increase efficiencies in the data center.

Sell -
SELLER

Brookside Equity Partners

Stamford, Connecticut, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1977
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Brookside Equity Partners (BEP) focuses on private equity investments, including direct control investments, majority or minority co-investments alongside other investment firms, and, on a selective basis, investments in private funds or special situations. BEP targets North American middle-market companies with revenues greater than $15 million and at least $5 million of EBITDA. Sectors of interest include manufacturing, chemicals, financial services, environmental, food, and distribution. Brookside Equity Partners was formed in 1977 and is based in Stamford, Connecticut.


DEAL STATS #
Overall 7 of 29
Sector: Distribution M&A 1 of 1
Type: Add-on Acquisition M&A Deals 2 of 8
State: New York M&A 1 of 5
Country: United States M&A 7 of 29
Year: 2010 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-05-01 Engage2Excel

Mooresville, North Carolina, United States

Engage2Excel is a provider of employee engagement and recognition programs. Engage2Excel helps clients measure, manage, and improve performance with the industry's only ROI-based employee recognition solution. Engage2Excel was founded in 1892 and is based in Mooresville, North Carolina.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2010-07-01 Stadco

Los Angeles, California, United States

Stadco is a provider of high precision suppliers of critical parts and components to the defense and aerospace industries. Stadco offers design, tooling, machining, fabrication and manufacturing services to leading defense and aerospace companies around the world. Stadco was founded in 1941 and is based in Los Angeles, California.

Buy -