Secondary Buyout • Distribution

Pfingsten Partners Acquires Fairbank Equipment

On January 6, 2022, private equity firm Pfingsten Partners acquired distribution company Fairbank Equipment from Great Range Capital

Acquisition Context
  • This is Pfingsten Partners’ 7th transaction in the Distribution sector.
  • This is Pfingsten Partners’ 53rd transaction in the United States.
  • This is Pfingsten Partners’ 1st transaction in Kansas.

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M&A Deal Summary

Date January 6, 2022
Target Fairbank Equipment
Sector Distribution
Buyer(s) Pfingsten Partners
Sellers(s) Great Range Capital
Deal Type Secondary Buyout
Advisor(s) TM Capital (Financial)

Target Company

Fairbank Equipment

Wichita, Kansas, United States
Fairbank Equipment is a distributor of application and control equipment used in the agriculture and energy industries. Fairbank Equipment was founded in 1946 and is based in Wichita, Kansas.
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Buyer Overview 1

Buyer

Pfingsten Partners

Chicago, Illinois, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1989
PE ASSETS 1.8B USD
Size Large
Type Sector Agnostic
DESCRIPTION
Pfingsten's office building at 300 North LaSalle in Chicago.
Pfingsten's office building at 300 North LaSalle in Chicago.

Pfingsten Partners is a private equity firm focused on investments in niche manufacturing, distribution, and business services companies. The Firm targets platform companies headquartered in the US although add-on acquisitions can be located outside the US. Prospective companies typically have revenues of $20 to $150 million and EBITDA of $3 to $12 million. Transaction types include private companies undergoing an ownership transition, corporate divestitures, strategic add-ons, and turnarounds. Pfingsten only invests in situations allowing for control. Pfingsten will not invest in real estate, natural resources, highly regulated businesses, retail, restaurants, early-stage companies, or technology. Pfingsten Partners was formed in 1989 and is based in Chicago, Illinois.


Deal Context for Buyer #
Overall 53 of 58
Sector: Distribution 7 of 8
Type: Secondary Buyout 7 of 7
State: Kansas 1 of 1
Country: United States 53 of 58
Year: 2022 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-11-08 Burton Mill Solutions

Woodland, Washington, United States

Burton Mill Solutions is a manufacturer and distributor of consumable products and equipment to saw mills and wood product manufacturers. Burton Mill Solutions was established in 1903 and is based in Woodland, Washington.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-04-26 Dynapower

South Burlington, Vermont, United States

Dynapower is a designer and manufacturer of custom, high power AC and DC power supplies, energy management systems and power transformers for the mining, metal finishing, electrochemical, military and energy management end markets. Dynapower was established in 1963 and is headquartered in South Burlington, Vermont.

Sell $580M

Seller Profile 1

SELLER

Great Range Capital

Mission Woods, Kansas, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2010
Size Small
Type Sector Agnostic
DESCRIPTION

Great Range Capital is a private equity firm focused on acquiring controlling interests in mid-sized businesses in the Midwest. The Firm will consider a variety of transaction situations, including leveraged and management buyouts, recapitalizations, build-ups, growth financings, and structured equity deals. Great Range looks to invest in profitable (>$3 million of EBITDA) with minimum revenues of $10 million. Sectors of interest include business and industrial services, healthcare services/devices, retail and consumer, and niche manufacturing. Great Range Capital was formed in 2010 and is based in Mission Woods, Kansas.


Deal Context for Seller #
Overall 2 of 4
Sector: Distribution 1 of 1
Type: Secondary Buyout 1 of 1
State: Kansas 1 of 1
Country: United States 2 of 4
Year: 2022 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-11-22 Realm

Newton, Iowa, United States

Realm is a pallet, crate, and mulch manufacturer, pallet recycler, and warehousing logistics company that manages the complete lifecycle of pallets and creates for customers located across Iowa, Kansas, Illinois, Missouri, and New Jersey. Realm was formed in 1998 and is located in Newton, Iowa.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-01-31 Salon Service Group

Springfield, Missouri, United States

Salon Service Group is a full-service beauty supply distributor, offering professional brands directly to salons and salon stylists. Salon Service Group was founded in 1987 and is based in Springfield, Missouri.

Buy -