M&A Deal Summary

PNC Mezzanine Capital Acquires RIE Coatings

On January 1, 2021, mezzanine finance firm PNC Mezzanine Capital acquired chemicals company RIE Coatings from Brass Ring Capital

Acquisition Highlights
  • This is PNC Mezzanine Capital’s 2nd transaction in the Chemicals sector.
  • This is PNC Mezzanine Capital’s 63rd transaction in the United States.
  • This is PNC Mezzanine Capital’s 2nd transaction in Minnesota.

M&A Deal Summary

Date 2021-01-01
Target RIE Coatings
Sector Chemicals
Buyer(s) PNC Mezzanine Capital
Sellers(s) Brass Ring Capital
Deal Type Secondary Buyout

Target

RIE Coatings

Eden Valley, Minnesota, United States
RIE Coatings applies coatings for protection and performance to a variety of surfaces and substrates including carbon steel, stainless steel, zinc plating, aluminum, composites, plastics, rubber, copper, brass, and other ferrous and non-ferrous metals. RIE Coatings was founded in 1987 and is based in Eden Valley, Minnesota.

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Buyer(S) 1

Buyer

PNC Mezzanine Capital

Pittsburgh, Pennsylvania, United States

Investor Investor Investor Investor Investor


Category Mezzanine Finance Firm
Founded 1989
PE ASSETS 1.5B USD
Size Large
Type Sector Agnostic
DESCRIPTION

PNC Mezzanine Capital is the subordinated debt investing arm of PNC Bank. PNC Mezzanine looks to provide $10 to $50 million of junior capital to middle-market companies in a variety of industries. Prospective companies generally have revenues of $20 million and EBITDA greater than $4 million. Broad sectors of interest include niche manufacturing, value-added distribution, and business or consumer services. PNC will not invest in early-stage or technology-driven businesses; real estate, commodity-based or capital-intensive companies; businesses with high customer or vendor concentration; or declining businesses. PNC Mezzanine was formed in 1989 and is based in Pittsburgh, Pennsylvania.


DEAL STATS #
Overall 66 of 77
Sector (Chemicals) 2 of 2
Type (Secondary Buyout) 14 of 15
State (Minnesota) 2 of 2
Country (United States) 63 of 73
Year (2021) 1 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-01-01 Grimaldi’s Pizzeria

Scottsdale, Arizona, United States

Grimaldi’s Pizzeria is a provider of coal-fired brick oven pizza, and specializes in freshly prepared pizzas, calzones, salads, and house-made cheesecakes. Grimaldi’s Pizzeria was founded in 1990 and is based in Scottsdale, Arizona.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-04-01 ESAM

Grants Pass, Oregon, United States

ESAM is a provider of Electronic Manufacturing Services. ESAM provides build-to-print manufacturing services of wire/cable assemblies and harnesses electronic, electro-mechanical, and electro-pneumatic sub-assemblies; along with complete instruments and equipment. DFM, DFT, cost reduction, and reverse engineering are among the engineering services ESAM also offers to its customers. ESAM specializes in medical devices, military, aerospace, capital equipment, green energy, transportation, and instrumentation applications. ESAM was founded in 1974 and is based in Grants Pass, Oregon.

Buy -

Seller(S) 1

SELLER

Brass Ring Capital

Minnetonka, Minnesota, United States

Investor Investor Investor


Category Private Equity Firm
Founded 2004
Size Small
Type Sector Agnostic
DESCRIPTION

Brass Ring Capital is a private investment firm focused on small company investments in the upper Midwest US. Brass Ring looks for profitable companies generating revenues of $5 to $50 million and EBITDA of $1 to $5 million. Sectors of interest include business services and manufacturing. Brass Ring's investment horizon is between four and five years. Brass Ring will not invest in companies requiring major restructuring or investment in technology. Brass Ring Capital is based in Minnetonka, Minnesota.


DEAL STATS #
Overall 7 of 9
Sector (Chemicals) 1 of 1
Type (Secondary Buyout) 4 of 4
State (Minnesota) 1 of 2
Country (United States) 7 of 9
Year (2021) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-02-01 SentriForce

Houston, Texas, United States

SentriForce is a provider of comprehensive video surveillance solutions for a wide range of settings, including apartments, construction sites, neighborhoods, and retail properties. SentriForce was founded in 2004 and is based in Houston, Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-04-01 Summit Drilling

Bridgewater, New Jersey, United States

Summit Drilling is a provider of subsurface environmental investigation and remediation services. Summit Drilling was founded in 1986 and is based in Bridgewater, New Jersey.

Buy -