Recapitalization • Distribution

PNC Erieview Capital, Colville Group and Stonehenge Partners Acquire Motion & Flow Control Products

On December 4, 2019, mezzanine finance firm PNC Erieview Capital, private equity firm Colville Group and mezzanine finance firm Stonehenge Partners acquired distribution company Motion & Flow Control Products from Colville Group

Acquisition Context
  • This is PNC Erieview Capital’s 3rd, Colville Group’s 5th and Stonehenge Partners’ 5th transaction in the Distribution sector.
  • This is PNC Erieview Capital’s 20th, Colville Group’s 7th and Stonehenge Partners’ 66th transaction in the United States.
  • This is PNC Erieview Capital’s 2nd, Colville Group’s 2nd and Stonehenge Partners’ 3rd transaction in California.

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M&A Deal Summary

Date December 4, 2019
Target Motion & Flow Control Products
Sector Distribution
Buyer(s) PNC Erieview Capital
Colville Group
Stonehenge Partners
Sellers(s) Colville Group
Deal Type Recapitalization

Target Company

Motion & Flow Control Products

West Sacramento, California, United States
Motion & Flow Control Products is a distributor of fluid connectors and fluid power equipment, instrumentation fittings, seals, and valves throughout the Western United States. Motion & Flow Control Products was founded in 1960 and is based in West Sacramento, California.
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Buyers Overview 3

DESCRIPTION

PNC Erieview Capital is a provider equity and junior capital to middle-market companies throughout the US and Canada. The Firm looks to support private equity sponsor-led buyouts and recapitalizations, non-sponsored buyouts, family office buyouts, and growth equity needs. PNC Erieview typically works with profitable companies (EBITDA greater than $5 million) valued from $20 to $250 million. Areas of interest include distribution, consumer products, healthcare, manufacturing, and services. The Firm was originally known as National City Equity Partners and was established in 1979. PNC Erieview Capital is based in Cleveland, Ohio.


Deal Context for Buyer #
Overall 20 of 44
Sector: Distribution 3 of 6
Type: Recapitalization 3 of 9
State: California 2 of 3
Country: United States 20 of 43
Year: 2019 6 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-10-11 RQM+

Monroeville, Pennsylvania, United States

RQM+ is a regulatory and quality consulting firm focused on medical devices, diagnostics, and related products. It provides regulatory strategy, quality systems support, clinical trial and lab services, and reimbursement guidance to help companies navigate compliance and bring products through development to market and post-market stages. RQM+ was founded in 2008 and is based in Monroeville, Pennsylvania.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-03-01 VetEvolve

Richmond, Virginia, United States

VetEvolve is a multi-location veterinary practice management platform providing its partner clinics differentiated partnership solutions and comprehensive services that free them up to focus on patient care. Its partner clinics provide general veterinary, emergency, boarding and daycare services to companion animals. VetEvolve is based in Richmond, Virginia.

Buy -
Buyer

Colville Group

Charlotte, North Carolina, United States

Investor Investor Investor


Category Private Equity Firm
Founded 2005
Size Small
Type Sector Agnostic
DESCRIPTION

Colville Capital is a lower middle-market investment firm. Colville considers businesses throughout the US in the manufacturing, value-added distribution, and business services sectors. Target situations include owners seeking liquidity, management-led buyouts of private companies or divisions of larger companies, or recapitalizations of closely held or family-owned companies. Colville Capital was founded in 2005 and is based in Charlotte, North Carolina.


Deal Context for Buyer #
Overall 7 of 7
Sector: Distribution 5 of 5
Type: Recapitalization 2 of 2
State: California 2 of 2
Country: United States 7 of 7
Year: 2019 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-04-27 Stored Energy Holdings

Auburn, Massachusetts, United States

Stored Energy Holdings is a distributor of battery products, components, and services. Stored Energy Holdings was founded in 1985 and is based in Auburn, Massachusetts.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-01-10 Insource

Charlotte, North Carolina, United States

Insource is a provider of on-premise contract labor services for light manufacturing, assembly, and distribution operations primarily in the southeastern region of the United States. Insource was founded in 1977 and is based in Charlotte, North Carolina.

Sell -
Buyer

Stonehenge Partners

Columbus, Ohio, United States

Investor Investor Investor Investor Investor


Category Mezzanine Finance Firm
Founded 1999
PE ASSETS 1.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Stonehenge Partners is a private equity firm that seeks equity and mezzanine investments in lower middle-market companies with at least $10 million in sales. Stonehenge looks to invest ranging from $10 million to $50 million of equity/junior capital to support management buyouts, leveraged acquisitions, recapitalizations, and growth capital financings. Stonehenge prefers businesses operating in manufacturing, distribution, business services and healthcare. Stonehenge avoids investing in real estate, oil and gas, high technology and 'industries that are susceptible to a high degree of cyclicality'. Stonehenge was formed in 1999 and is based in Columbus, Ohio.


Deal Context for Buyer #
Overall 68 of 68
Sector: Distribution 5 of 5
Type: Recapitalization 3 of 3
State: California 3 of 3
Country: United States 66 of 66
Year: 2019 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-07-15 MedVet

Worthington, Ohio, United States

MedVet is an independent veterinarian owned and led network of specialty and emergency hospitals dedicated to delivering care to pets. The organization’s team of caregivers has helped MedVet become a preferred choice for care throughout the US. MedVet was founded in 1988 and is based in Worthington, Ohio.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-06-02 Bancsource

Springfield, Missouri, United States

Bancsource is a nationwide maintenance service (equipment) provider to more than 1,500 banks and retailers. Key technology serviced includes ATMs, smart safes, teller cash dispensers, teller cash recyclers, drive-up banking, branch banking equipment, and other banking technology. Bancsource was founded in 1979 and is based in Springfield, Missouri.

Sell -

Seller Profile 1

SELLER

Colville Group

Charlotte, North Carolina, United States

Investor Investor Investor


Category Private Equity Firm
Founded 2005
Size Small
Type Sector Agnostic
DESCRIPTION

Colville Capital is a lower middle-market investment firm. Colville considers businesses throughout the US in the manufacturing, value-added distribution, and business services sectors. Target situations include owners seeking liquidity, management-led buyouts of private companies or divisions of larger companies, or recapitalizations of closely held or family-owned companies. Colville Capital was founded in 2005 and is based in Charlotte, North Carolina.


Deal Context for Seller #
Overall 3 of 4
Sector: Distribution 2 of 2
Type: Recapitalization 1 of 1
State: California 1 of 1
Country: United States 3 of 4
Year: 2019 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-04-27 Stored Energy Holdings

Auburn, Massachusetts, United States

Stored Energy Holdings is a distributor of battery products, components, and services. Stored Energy Holdings was founded in 1985 and is based in Auburn, Massachusetts.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-01-10 Insource

Charlotte, North Carolina, United States

Insource is a provider of on-premise contract labor services for light manufacturing, assembly, and distribution operations primarily in the southeastern region of the United States. Insource was founded in 1977 and is based in Charlotte, North Carolina.

Sell -