Investment Summary

Pillsman Partners, Banyan Investment Partners and Pine Street Capital Partners Exits SST Conveyor Components

On January 20, 2022, private equity firm CW Industrial Partners invested in manufacturer SST Conveyor Components from Pillsman Partners, Banyan Investment Partners and Pine Street Capital Partners

Investment Highlights
  • This is CW Industrial Partners’ 8th transaction in the Manufacturing sector.
  • This is CW Industrial Partners’ 25th transaction in the United States.
  • This is CW Industrial Partners’ 11th transaction in Ohio.

Investment Summary

Date 2022-01-20
Target SST Conveyor Components
Sector Manufacturing
Investor(s) CW Industrial Partners
Sellers(s) Pillsman Partners
Banyan Investment Partners
Pine Street Capital Partners
Deal Type Secondary Buyout

Target

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.

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Investor(S) 1

Investor

CW Industrial Partners

Cleveland, Ohio, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1999
PE ASSETS 500M USD
Size Middle-Market
Type Sector Focused
DESCRIPTION

CW Industrial Partners is an industrial-focused private equity firm that is backed by knowledgeable investors who partner with it in finding, vetting, and owning companies. CW Industrial Partners acquires lower middle-market companies in manufacturing and industrial services industries and provides capital, support, and freedom to grow. CW Industrial Partners was founded in 1999 and is based in Cleveland, Ohio.


DEAL STATS #
Overall 27 of 28
Sector: Manufacturing M&A 8 of 8
Type: Secondary Buyout M&A Deals 7 of 7
State: Ohio M&A 11 of 12
Country: United States M&A 25 of 26
Year: 2022 M&A 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-01-20 Bryant Products

I​xonia, Wisconsin, United States

Bryant Products is a manufacturer of highly engineered, branded, and patented conveyor components including take-ups, pulleys, rollers, and other engineered components. Bryant is based in Ixonia, Wisconsin.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-07-28 Ripley Tools

Cromwell, Connecticut, United States

Ripley Tools is a designer and manufacturer of a wide variety of cable preparation tools. These specialty hand tools are sold to electrical utility, electrical contractor, CATV, telephone and telecommunication markets under the Utility Tool, Cablematic, Miller and Clauss tool brand names. Ripley Tools was founded in 1936 and is based in Cromwell, Connecticut.

Sell -

Seller(S) 3

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 1 of 1
Sector: Manufacturing M&A 1 of 1
Type: Secondary Buyout M&A Deals 1 of 1
State: Ohio M&A 1 of 1
Country: United States M&A 1 of 1
Year: 2022 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-12-04 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.

Buy -
SELLER

Banyan Investment Partners

Miami, Florida, United States

Investor


Category Mezzanine Finance Firm
Founded 2002
PE ASSETS 550M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Banyan is a specialty finance firm that provides mezzanine capital to smaller middle-market companies headquartered primarily in the Southeast US. Banyan looks to invest $5 to $25 million of junior capital in profitable companies. The Firm does not have any industry preferences, however, Banyan will not invest in real estate development, oil and gas exploration, direct lenders, start-ups or turn-around situations. Banyan Mezzanine was formed in 2002 and is based in Miami, Florida.


DEAL STATS #
Overall 20 of 22
Sector: Manufacturing M&A 2 of 2
Type: Secondary Buyout M&A Deals 7 of 7
State: Ohio M&A 1 of 1
Country: United States M&A 20 of 22
Year: 2022 M&A 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-11-22 GWS Tool

Tavares, Florida, United States

GWS Tool is a manufacturer of engineered custom, standard, and modified standard cutting tools, primarily servicing the aerospace and defense, power generation, automotive, and medical sectors. GWS Tool was formed in 2014 and is based in Tavares, Florida.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-06-09 Rio Ranch Markets

Fontana, California, United States

Rio Ranch Markets is an operator of a Hispanic supermarket chain. Rio primarily serves the Hispanic community by replicating the open-air atmosphere of a traditional Latin American marketplace, providing freshly prepared foods, bakery, tortilleria and basic everyday grocery, meat, produce, household needs. Rio Ranch Markets was founded in 1983 and is based in Fontana, California.

Sell -
SELLER

Pine Street Capital Partners

Albany, New York, United States

Investor Investor Investor Investor Investor


Category Mezzanine Finance Firm
Founded 2004
PE ASSETS 425M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Pine Street Capital Partners provides mezzanine capital to small and medium-sized private and public companies. PSCP will consider investments from $3 to $15 million in companies generating at least $10 million of sales. Target sectors include manufacturing, business services, consumer products, healthcare and media. PSCP prefers investments in the Northeast and Mid-Atlantic regions of the US, but will consider opportunities nationwide. Investment funds are typically used to support strategic acquisitions, growth, management and employee buyouts, and leveraged recapitalization. PSCP will not invest in the real estate, biotech and oil & gas industries. Pine Street Capital Partners was formed in 2004 and is based in Albany, New York.


DEAL STATS #
Overall 12 of 18
Sector: Manufacturing M&A 3 of 3
Type: Secondary Buyout M&A Deals 3 of 6
State: Ohio M&A 1 of 2
Country: United States M&A 12 of 18
Year: 2022 M&A 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-12-22 Pacific West

Salt Lake City, Utah, United States

Pacific West is an industrial and mechanical contracting firm that provides a wide range of services to clients including the construction of railroad locomotive fueling facilities, rail yard air brake networks, wastewater treatment facilities, above and below ground mechanical facilities and security fencing. Additional services include 24/7 emergency response assistance, environmental remediation work, trenchless pipe activity, vacuum truck resources and a variety of ongoing maintenance services. Pacific West was founded in 1988 and is based in Salt Lake City, Utah.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-02-18 demandDrive

Waltham, Massachusetts, United States

demandDrive is a provider of outsourced sales and marketing services. demandDrive is based in Waltham, Massachusetts.

Buy -