M&A Deal Summary

Pillsman Partners and Peninsula Capital Partners Acquire Edge One

On December 4, 2020, private equity firm Pillsman Partners and mezzanine finance firm Peninsula Capital Partners acquired business services company Edge One

Acquisition Highlights
  • This is Pillsman Partners’ 2nd and Peninsula Capital Partners’ 8th transaction in the Business Services sector.
  • This is Pillsman Partners’ 5th and Peninsula Capital Partners’ 115th transaction in the United States.
  • This is Pillsman Partners’ 1st and Peninsula Capital Partners’ 4th transaction in Wisconsin.

M&A Deal Summary
Date 2020-12-04
Target Edge One
Sector Business Services
Buyer(s) Pillsman Partners
Peninsula Capital Partners
Deal Type Recapitalization
Advisor(s) Bridgewood Advisors (Financial)

Target

Edge One

Stoughton, Wisconsin, United States
Edge One provides both first-line and second-line maintenance to its vast network, including hardware & software services, transaction processing, compliance management, as well as secure cash replenishment and transport. Edge One was founded in 1995 and is based in Stoughton, Wisconsin.

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Buyer(S) 2

Buyer

Pillsman Partners

Investor Investor Investor Investor

Category Private Equity Firm
Founded 2011
Size Small
Type Sector Agnostic
DESCRIPTION

Pillsman Partners is a private investment firm that specializes in direct investments in established, small to lower-middle market businesses. The Firm focuses on companies with strong organic growth potential and $2 to $15 million of EBITDA. Areas of interest include business services, technology, light manufacturing, chemicals and materials. Pillsman typically acquires a controlling but is flexible in terms of transaction structure. Pillsman Partners was formed in 2011 and is headquartered in Greenwich, Connecticut.

DEAL STATS #
Overall 5 of 5
Sector (Business Services) 2 of 2
Type (Recapitalization) 2 of 2
State (Wisconsin) 1 of 1
Country (United States) 5 of 5
Year (2020) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-08-30 Powervac

Novi, Michigan, United States

Powervac is a provider of hydro excavation, pipe inspection, jet/vac, plumbing, electrical, mechanical, and other repair and maintenance services for commercial, retail, and industrial buildings, as well as for utilities, municipalities, and construction companies. Powervac is based in Novi, Michigan.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-01-20 SST Conveyor Components

Loveland, Ohio, United States

SST Conveyor Components is a designer and manufacturer of specialized conveyor components serving the material handling, distribution, and conveyor systems integration markets. SST Conveyor produces high-quality straight, tapered, grooved, and custom rollers, bearing assemblies, and pulleys tailored to meet the unique requirements of each customer. SST Conveyor Components was founded in 1957 and is based in Loveland, Ohio.

Sell -
Buyer

Peninsula Capital Partners

Southfield, Michigan, United States

Investor Investor Investor Investor Investor

Category Mezzanine Finance Firm
Founded 1995
PE ASSETS 1.9B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Peninsula Capital Partners is an investment group focused on providing a range of financing solutions to middle-market companies. The Firm is willing to be a minority or control investor and invests across the capital structure. This includes subordinated debt, preferred or common stock. For mezzanine commitments, Peninsula looks to invest $5 to $40 million. For equity transactions, Peninsula looks to invest $2 to $20 million. Peninsula is a generalist investor. Target sectors include manufacturing, industrial service, distribution, consumer products, professional services, retail, applied technology, transportation, food processing and packaging. Peninsula Capital Partners was formed in 1995 and is based in Detroit, Michigan.

DEAL STATS #
Overall 121 of 128
Sector (Business Services) 8 of 8
Type (Recapitalization) 28 of 31
State (Wisconsin) 4 of 5
Country (United States) 115 of 121
Year (2020) 6 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-12-01 Centaris

Sterling Heights, Michigan, United States

Centaris is a provider of information technology and telephony services, primarily to small- and medium-sized enterprises. The Company was formed via the simultaneous acquisition and merger of two successful businesses. Centaris is based in Sterling Heights, Michigan.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-04-15 Truesdell

Tempe, Arizona, United States

Truesdell is a provider of quality repair, restoration, strengthening, protection, and maintenance of concrete structures. Comprehensive services range from assistance with initial diagnosis to final completion. Truesdell has completed more than 7,000 projects on a wide variety of national and international repair projects ranging from high-rise buildings, nuclear power generating plants, airports, residential projects, water treatment facilities, and a sizeable amount of public agency DOT work. Truesdell was founded in 1975 and is based in Tempe, Arizona.

Sell -
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