Investment Summary

PNC Mezzanine Capital and 3 Rivers Capital Invest In AGS Automotive Solutions

On November 17, 2016, mezzanine finance firm PNC Mezzanine Capital and private equity firm 3 Rivers Capital invested in automotive company AGS Automotive Solutions

Investment Highlights
  • This is PNC Mezzanine Capital’s 2nd and 3 Rivers Capital’s 1st transaction in the Automotive sector.
  • This is PNC Mezzanine Capital’s 52nd and 3 Rivers Capital’s 8th transaction in the United States.
  • This is PNC Mezzanine Capital’s 1st and 3 Rivers Capital’s 1st transaction in Michigan.

Investment Summary

Date 2016-11-17
Target AGS Automotive Solutions
Sector Automotive
Investor(s) PNC Mezzanine Capital
3 Rivers Capital
Deal Type Growth Capital

Target

AGS Automotive Solutions

Muskegon Heights, Michigan, United States
AGS Automotive Solutions is a manufacturer and supplier of automotive aftermarket brake, transmission, and fuel line repair products for the do-it-for-me and the do-it-yourself segments. AGS sells its products to a blue-chip customer base of leading automotive aftermarket retailers on a near exclusive basis, as well as to other blue-chip customers that serve the automotive aftermarket on an ancillary basis. AGS Automotive Solutions was established in 1931 and is based in Muskegon Heights, Michigan.

Search 201,157 Deals Now

SEARCH BY

  • Buyer Type (PE or Strategic)
  • Deal Size ($10M to $10B+)
  • Sector (60 Sectors)
  • Deal Type
  • Geography
  • & More

Try For Free 7-Day Free Trial

Investor(S) 2

Investor

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 55 of 77
Sector (Automotive) 2 of 3
Type (Growth Capital) 6 of 10
State (Michigan) 1 of 1
Country (United States) 52 of 73
Year (2016) 4 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-11-04 American Track

Fort Worth, Texas, United States

American Track specializes in the inspection, repair, maintenance, design, and construction of railroad tracks, predominantly for private industrial users. American Track was founded in 1978 and is based in Fort Worth, Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-02-20 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.

Buy -
Investor

3 Rivers Capital

Pittsburgh, Pennsylvania, United States

Investor Investor Investor Investor Investor


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

3 Rivers Capital is a private equity firm focused on recapitalizations and buyouts of smaller companies located in the Eastern to Mountain West regions of the US. The Firm generally targets businesses with revenues up to $50 million and EBITDA up to $10 million. Target sectors include niche manufacturing, business services, healthcare, and energy. 3 Rivers prefers businesses with high barriers to entry, strong management, and operating in defensible markets. 3 Rivers was formed in 2005 and is based in Pittsburgh, Pennsylvania.


DEAL STATS #
Overall 8 of 15
Sector (Automotive) 1 of 1
Type (Growth Capital) 3 of 4
State (Michigan) 1 of 1
Country (United States) 8 of 15
Year (2016) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-05-23 MPC Plating

Brooklyn, Ohio, United States

MPC Plating is a manufacturer of decorative and non-decorative plastic and metal plating services. The Company’s parts are used in the manufacturing of products including small and large appliances, plumbing, automotive, marine, consumer products, heavy trucks, and service vehicles. MPC Plating was founded in 1980 and is based in Brooklyn, Ohio.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-07-06 Deep Well Services

Zelienople, Pennsylvania, United States

Deep Well Services is an oilfield services company that provides snubbing-based completion and workover services in the Appalachian Basin and the Permian Basin. Deep Well’s specially designed units are used for drillouts in wells with long laterals and for other services such as production tubing installation, well cleanout and fishing. Deep Well Services was founded in 2008 and is based in Zelienople, Pennsylvania.

Sell -