M&A Deal Summary

Pike Street Capital and Capitala Group Acquire US BioTek Laboratories

On December 18, 2018, private equity firm Pike Street Capital and asset manager Capitala Group acquired test/measurement equipment company US BioTek Laboratories

Acquisition Highlights
  • This is Pike Street Capital’s 1st and Capitala Group’s 1st transaction in the Test/Measurement Equipment sector.
  • This is Pike Street Capital’s 1st and Capitala Group’s 72nd transaction in the United States.
  • This is Pike Street Capital’s 1st and Capitala Group’s 2nd transaction in Washington.

M&A Deal Summary

Date 2018-12-18
Target US BioTek Laboratories
Sector Test/Measurement Equipment
Buyer(s) Pike Street Capital
Capitala Group
Deal Type Buyout (LBO, MBO, MBI)

Target

US BioTek Laboratories

Shoreline, Washington, United States
US BioTek Laboratories is a provider of specialty testing services for food-related allergies and intolerances. US BioTek is a Clinical Laboratory Improvement Amendments (CLIA) accredited testing facility that provides a variety of immunology and chemistry profiles to clinicians worldwide. US BioTek Laboratories is based in Shoreline, Washington.

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Buyer(S) 2

DESCRIPTION

Pike Street Capital is a private equity firm focused on profitable ($4 to $20 million of EBITDA) lower middle-market companies with up to $100 million in revenue. The Firm looks to partner with management and acquire majority stakes in companies. Areas of interest include industrial technology, distribution/logistics, business services, and specialty manufacturing. Pike Street Capital was formed in 2017 and is headquartered in Seattle, Washington.


DEAL STATS #
Overall 1 of 7
Sector (Test/Measurement Equipment) 1 of 1
Type (Buyout (LBO, MBO, MBI)) 1 of 1
State (Washington) 1 of 2
Country (United States) 1 of 7
Year (2018) 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-05-28 Head Rush Technologies

Louisville, Colorado, United States

Head Rush Technologies provides equipment for the climbing and adventure industries that make adventure experiences more enjoyable for the user and increase ROI for operators. Their patented magnetic braking system has led to the development of best-in-class recreational devices found in facilities worldwide, including the TRUBLUE Auto Belay, zipSTOP Zip Line Brake, QuickFlight, and FlightLine Free Fall Devices. Head Rush Technologies was founded in 2012 and is based in Louisville, Colorado.

Buy -
Buyer

Capitala Group

Charlotte, North Carolina, United States

Investor Investor Investor Investor Investor


Category Asset Manager
Founded 1998
PE ASSETS 2.2B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Capitala Group is an asset manager that provides equity and mezzanine capital to mid-sized companies valued up to $250 million. Funds are generally used to support growth needs, add-on acquisitions, management/leveraged buyouts, and recapitalizations. Capitatala will invest across the US, but generally targets opportunities located in the Southeast. Industry preferences include building products, business services, consumer/reteail, general industrial, healthcare, and technology. Prospective companies typically have revenues greater than $10 million and EBITDA of at least $3 million. Capitala was formed in 1998 and is headquartered in Charlotte, North Carolina.


DEAL STATS #
Overall 73 of 98
Sector (Test/Measurement Equipment) 1 of 1
Type (Buyout (LBO, MBO, MBI)) 32 of 41
State (Washington) 2 of 2
Country (United States) 72 of 97
Year (2018) 5 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-12-13 Simply Fresh Foods

Buena Park, California, United States

Simply Fresh Foods produces fresh, all-natural foods for fast-growing segments of the refrigerated products market across a wide range of channels. The company markets its products under several brands. The Rojo’s brand encompasses innovative salsas and dips and is a top label of fresh salsa and layered dips. The company’s San Francisco brand covers a line of seafood salads and has been on the market since 1987.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-01-01 Point Broadband

West Point, Georgia, United States

Point Broadband is an internet service provider to residential and business customers in rural and suburban America. Point Broadband was established in 2016 and is based in West Point, Georgia.

Buy -