M&A Deal Summary

Pilgrim Capital Partners and Tecum Capital Acquire Heat Seal

On September 14, 2015, private equity firms Pilgrim Capital Partners and Tecum Capital acquired machinery company Heat Seal

Acquisition Highlights
  • This is Pilgrim Capital Partners’ 1st and Tecum Capital’s 2nd transaction in the Machinery sector.
  • This is Pilgrim Capital Partners’ 12th and Tecum Capital’s 31st transaction in the United States.
  • This is Pilgrim Capital Partners’ 1st and Tecum Capital’s 4th transaction in Ohio.

M&A Deal Summary

Date 2015-09-14
Target Heat Seal
Sector Machinery
Buyer(s) Pilgrim Capital Partners
Tecum Capital
Deal Type Buyout (LBO, MBO, MBI)

Target

Heat Seal

Cleveland, Ohio, United States
Heat Seal manufactures a full line of packaging and process equipment for the food service and industrial packaging industries. Heat Seal was founded in 1950 and is based in Cleveland, Ohio.

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Buyer(S) 2

Buyer

Pilgrim Capital Partners

Fairfield, Connecticut, United States

Category Private Equity Firm
Founded 2006
Size Small
Type Sector Agnostic
DESCRIPTION

Pilgrim Capital Partners is a private equity firm that invests in change of ownership and growth equity transactions. Pilgrim looks for established, middle-market companies operating in defensible markets. Prospective companies generally have sales of $10 to $100 million and operating profits of at least $2 million. Pilgrim has a preference for East Coast and Midwest-based opportunities, however the Firm will consider investments nationwide. Pilgrim Capital Partners was formed in 2006 and is based in Fairfield, Connecticut.


DEAL STATS #
Overall 12 of 13
Sector (Machinery) 1 of 1
Type (Buyout (LBO, MBO, MBI)) 11 of 11
State (Ohio) 1 of 1
Country (United States) 12 of 13
Year (2015) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-09-02 Controlled Products Systems Group

Denver, New Mexico, United States

Controlled Products Systems Group, Inc. is a provider of perimeter access control and gate automation security systems. The company operates out of 15 strategically located warehouses across the U.S. and maintains the most comprehensive product line in the industry. CPSG is widely recognized as the industry leader in product knowledge and technical support with the largest and most knowledgeable team of security specialists.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-06-28 Water-Jel Technologies

Carlstadt, New Jersey, United States

Water-Jel Technologies LLC is a provider of emergency burn care products to the industrial, military, and consumer markets. In addition to burn care products, Water-Jel offers a portfolio of branded and private label products targeted principally for the industrial first-aid cabinet.

Buy -
Buyer

Tecum Capital

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2005
PE ASSETS 750M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Tecum Capital is a private equity firm focused on lower middle-market companies across the Eastern-US. Tecum will consider a variety of investment situations including leveraged buyouts, management buyouts, successions, strategic acquisitions, growth capital financings, and recapitalizations. Investment sizes range from $5 - $20 million. Industries of interest include manufacturing, plastics, specialty distribution, technology, healthcare services, defense, food, and business/consumer services. Tecum will not consider investments in start-ups or real estate. Tecum Capital was formed in 2005 and is based in Wexford, Pennsylvania.


DEAL STATS #
Overall 31 of 82
Sector (Machinery) 2 of 5
Type (Buyout (LBO, MBO, MBI)) 14 of 28
State (Ohio) 4 of 11
Country (United States) 31 of 82
Year (2015) 4 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-06-15 Ullman Oil

Chagrin Falls, Ohio, United States

Ullman Oil is a full-service provider and distributor of gasoline, diesel fuel, bio-diesel, home heating oil and lubricants to commercial, industrial, and residential customers. Ullman Oil was established in 1966 and is based in Chagrin Falls, Ohio.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-12-01 Red Head Brass

Shreve, Ohio, United States

Red Head Brass is a manufacturer of fire hose couplings and related accessories in North America. Red Head Brass couplings and accessories are used to connect separate pieces of hose, to connect a hose to fire trucks and hydrants, and to similar applications. Red Head Brass was founded in 1972 and is based in Shreve, Ohio.

Buy -