M&A Deal Summary |
|
|---|---|
| Date | 2014-06-23 |
| Target | Spectrum |
| Sector | Chemicals |
| Buyer(s) | Phillips 66 |
| Sellers(s) |
Dominus Capital
HarbourVest Partners |
| Deal Type | Add-on Acquisition |
| Advisor(s) | Lazard Middle Market (Financial) |
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| Category | Company |
|---|---|
| Founded | 1875 |
| Sector | Energy Services and Equipment |
| Employees | 14,000 |
| Revenue | 147.4B USD (2023) |
Phillips 66 is an energy and logistics company. Its midstream segment gathers, processes, transports and markets natural gas; and transports, stores, fractionates and markets natural gas liquids (NGL) in the United States. In addition, this segment transports crude oil and other feedstocks to refineries and other locations, delivers refined and specialty products to market, and provides terminaling and storage services for crude oil and petroleum products. Its chemicals segments consists of our 50 percent equity investment in Chevron Phillips Chemical Company LLC (CPChem), which manufactures and markets petrochemicals and plastics on a worldwide basis. Its refining segment buys, sells and refines crude oil and other feedstocks at refineries in the United States and Europe. Its marketing and specialties segment purchases for resale and markets refined petroleum products (such as gasolines, distillates and aviation fuels), mainly in the United States and Europe. Phillips 66 was founded in 1875 and is based in Houston, Texas.
| DEAL STATS | # |
|---|---|
| Overall | 1 of 5 |
| Sector (Chemicals) | 1 of 1 |
| Type (Add-on Acquisition) | 1 of 4 |
| State (Tennessee) | 1 of 1 |
| Country (United States) | 1 of 4 |
| Year (2014) | 1 of 1 |
| DATE | TARGET | DEAL TYPE | VALUE |
|---|---|---|---|
| 2013-12-30 |
Phillips Specialty Products
United States PPhillips Specialty Products, Inc. specializes in maximizing the flow potential of pipelines, increasing operational flexibility and throughput capacity and substantially increasing bottom-line profit potentials. |
Sell | $1.4B |
| DATE | TARGET | DEAL TYPE | VALUE |
|---|---|---|---|
| 2014-11-11 |
Malaysian Refining Sdn. Bhd.
Sungai Udang, Malaysia Malaysian Refining Company Sdn. Bdh., also known as PSR-2, refines and processes crude oil into refined products. |
Sell | $635M |
| Category | Private Equity Firm |
|---|---|
| Founded | 2008 |
| PE ASSETS | 410M USD |
| Size | Middle-Market |
| Type | Sector Agnostic |
Dominus Capital is a private equity firm that targets middle market companies throughout North America. The Firm focuses on companies with defensible market positions, strong free cash flows and margins, untapped growth potential, and 'exceptional' management. Dominus seeks companies generating EBITDA of at least $10 million. Areas of interest include building products, business services, consumer products and services, distribution, food production and services, light manufacturing, restaurants, specialty chemicals and specialty retail. Dominus will consider a variety of transactions types, including buyouts and recapitalizations. Dominus Capital was formed in 2008 and is based in New York City.
| DEAL STATS | # |
|---|---|
| Overall | 1 of 10 |
| Sector (Chemicals) | 1 of 2 |
| Type (Add-on Acquisition) | 1 of 5 |
| State (Tennessee) | 1 of 1 |
| Country (United States) | 1 of 10 |
| Year (2014) | 1 of 1 |
| DATE | TARGET | DEAL TYPE | VALUE |
|---|---|---|---|
| 2012-08-17 |
Bentley Mills
City of Industry, California, United States Bentley Mills is a designer and manufacturer of premium broadloom and modular carpet tile to the specified commercial carpet industry. Bentley has become an iconic brand in the premium carpet space, serving end customers across diverse corporate, hospitality, healthcare, government, retail, and education markets. |
Buy | - |
| DATE | TARGET | DEAL TYPE | VALUE |
|---|---|---|---|
| 2014-10-31 |
Frontline Managed Services
Atlanta, Georgia, United States Frontline Managed Services is a provider of business process outsourcing to the legal and accounting markets. Frontline Managed Services specializes in “white glove” IT help desk support, IT Managed Services (Development, Infrastructure, Engineering, and Legacy Software Support), Managed Financial Services (e-billing processing, accounts receivable management, and cash application), and training and education through its e-learning platform. Frontline Managed Services was founded in 1987 and is based in Atlanta, Georgia. |
Buy | - |
| Category | Private Equity Firm |
|---|---|
| Founded | 1978 |
| PE ASSETS | 86.0B USD |
| Size | Mega |
| Type | Sector Agnostic |
HarbourVest Partners, LLC is an investment firm that makes investments in new private equity partnerships, acquires secondary interests, and makes direct investments in operating companies. HarbourVest's largest investment area is investments in private equity funds, comprising of approximately 2/3 of HarbourVest's assets. HarbourVest's direct investment group looks for investments in growth oriented businesses at a variety of stages. The Group generally targets co-investments of $5 to $100 million, growth capital financings of $5 to $40 million, or mezzanine commitments of $5 to $20 million. Sectors of interest include software, hardware, data communications, telecommunications, and financial services. HarbourVest was formed in 1997 to assume the business of Hancock Venture Partners which was formed in 1982. HarbourVest Partners is based in Boston, Massachusetts, with additional offices in London, Tokyo, and Hong Kong.
| DEAL STATS | # |
|---|---|
| Overall | 49 of 132 |
| Sector (Chemicals) | 2 of 3 |
| Type (Add-on Acquisition) | 16 of 57 |
| State (Tennessee) | 1 of 1 |
| Country (United States) | 29 of 83 |
| Year (2014) | 5 of 14 |
| DATE | TARGET | DEAL TYPE | VALUE |
|---|---|---|---|
| 2014-05-19 |
Hillman Solutions
Forest Park, Ohio, United States Hillman Solutions is a distributor of fasteners, key blanks, signage and other small hardware components and a leading manufacturer of key making equipment. The company operates in multiple channels of the retail marketplace including national and regional home centers, hardware stores and mass merchants. Hillman Solutions is based in Forest Park, Ohio. |
Sell | $1.5B |
| DATE | TARGET | DEAL TYPE | VALUE |
|---|---|---|---|
| 2014-07-07 |
Alexander Forbes
Sandton, South Africa Alexander Forbes is an insurance broker, asset multi-manager, and financial services company that impacts people’s lives by delivering insight and advice to individuals, employers, and retirement funds. Alexander Forbes was incorporated in 1935 and is based in Sandton, South Africa. |
Sell | - |
