Investment Summary

Pine Street Capital Partners, Gemini Investors and Starboard Capital Partners Invest In Jersey Precast

On July 26, 2011, mezzanine finance firm Pine Street Capital Partners, private equity firm Gemini Investors and private equity firm Starboard Capital Partners invested in construction company Jersey Precast

Investment Highlights
  • This is Pine Street Capital Partners’ 1st, Gemini Investors’ 1st and Starboard Capital Partners’ 5th transaction in the Construction sector.
  • This is Pine Street Capital Partners’ 10th, Gemini Investors’ 38th and Starboard Capital Partners’ 9th transaction in the United States.
  • This is Pine Street Capital Partners’ 1st, Gemini Investors’ 4th and Starboard Capital Partners’ 1st transaction in New Jersey.

Investment Summary

Date 2011-07-26
Target Jersey Precast
Sector Construction
Investor(s) Pine Street Capital Partners
Gemini Investors
Starboard Capital Partners
Deal Type Growth Capital
Advisor(s) Allegiance Capital Corp. (Financial)

Target

Jersey Precast

Hamilton Township, New Jersey, United States
Jersey Precast is a manufacturer of precast concrete and structural steel products. Significant products include major structural forms for roads, bridges, buildings, and water and sewer systems. Jersey Precast was founded in 1980 and is based in Hamilton Township, New Jersey.

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Investor(S) 3

Investor

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 (PSCP) 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 10 of 40
Sector (Construction) 1 of 1
Type (Growth Capital) 4 of 12
State (New Jersey) 1 of 3
Country (United States) 10 of 40
Year (2011) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-05-01 Fischbein

Statesville, North Carolina, United States

Fischbein designs, manufactures, and distributes packaging and material handling equipment. The Company offers filling, weighing, closing, handling, palletizing equipment, and sewing and sealing equipment. Fischbein is headquartered in Statesville, North Carolina.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-09-07 TreadWright

Houston, Texas, United States

TreadWright is a tire retreading company serving the light truck replacement tire market. TreadWright was founded in 1981 and is based in Houston, Texas.

Buy -
Investor

Gemini Investors

Wellesley, Massachusetts, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1993
PE ASSETS 700M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Gemini Investors is a middle-market private equity firm that targets investments in growing and established businesses. Areas of interest include technology, business services, consumer services, healthcare, education, manufacturing and distribution. Gemini looks for companies with $5 to $50 million in annual revenue and typically makes investments of $3 to $8 million in the form of preferred stock and/or subordinated debt. Prospective transaction types include growth capital, recapitalization and buyout situations. Gemini Investors was formed in 1993 and is based in Wellesley, Massachusetts.


DEAL STATS #
Overall 38 of 96
Sector (Construction) 1 of 1
Type (Growth Capital) 7 of 29
State (New Jersey) 4 of 4
Country (United States) 38 of 96
Year (2011) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-07-08 Bergensons Property Services

Oceanside, California, United States

Bergensons is one of the nations leading providers of outsourced janitorial services to the retail industry, providing daily floor care to many of the country's largest retailers in more than 33 states. The Company benefits from a strong outsourcing trend among retailers, a blue chip customer base, a highly efficient operating model and a very seasoned management team.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-01-01 TGC Components

Grand Junction, Colorado, United States

Colorado Components is a manufacturer and distributor of aftermarket wheels, tires and wheel accessories for the powersports and golf cart markets.

Buy -
Investor

Starboard Capital Partners

Southport, Connecticut, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2004
PE ASSETS 700M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Starboard Capital Partners LLC is an unsponsored investment group that works with private equity investors and management in acquiring mid-sized businesses valued between $25 and $100 million. In addition to investing, Starboard earns equity for initiating transactions and for ongoing advisory services. Sectors of interest include automotive, consumer products, building materials, construction, distribution, e-commerce, franchising, manufacturing, healthcare, and real estate. Starboard Capital was formed in 2004 and is based in Southport, Connecticut.


DEAL STATS #
Overall 9 of 14
Sector (Construction) 5 of 5
Type (Growth Capital) 2 of 4
State (New Jersey) 1 of 1
Country (United States) 9 of 14
Year (2011) 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-06-10 Midasco

Elkridge, Maryland, United States

Midasco provides installation and maintenance services for intelligent transportation systems, highway signing, lighting and signal categories in the Mid-Atlantic region of the U.S. Services include: estimating, bid preparation, engineering, project management, and full construction work on excavation, foundations, structure erection, electrical wiring, device installation, and integration.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-10-20 PureRED

Stone Mountain, Georgia, United States

PureRED Integrated Marketing is an advertising agency that designs and executes integrated retail marketing programs including pre-media advertising execution, digital creative/design, digital asset management services, photographic services, and interactive services for national retailers. PureRED was founded in 1967 and is based in Stone Mountain, Georgia.

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