M&A Deal Summary

PNC Riverarch Capital and SilverMill Acquire Burrell Reagents

On November 2, 2018, private equity firm PNC Riverarch Capital and SilverMill acquired chemicals company Burrell Reagents from Tecum Capital

Acquisition Highlights
  • This is PNC Riverarch Capital’s 1st and SilverMill’s 1st transaction in the Chemicals sector.
  • This is PNC Riverarch Capital’s 18th and SilverMill’s 1st transaction in the United States.
  • This is PNC Riverarch Capital’s 2nd and SilverMill’s 1st transaction in Pennsylvania.

M&A Deal Summary
Date 2018-11-02
Target Burrell Reagents
Sector Chemicals
Buyer(s) PNC Riverarch Capital
SilverMill
Sellers(s) Tecum Capital
Deal Type Secondary Buyout
Advisor(s) Confluence Advisors (Financial)

Target

Burrell Reagents

Pittsburgh, Pennsylvania, United States
Burrell Reagents is a manufacturer and distributor of a wide range of specialty chemicals, supplies, and equipment used in analytical testing labs and production operations throughout North America. Burrell Reagents was founded in 1917 and is based in Pittsburgh, Pennsylvania.

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Buyer(S) 2

Buyer

PNC Riverarch Capital

Pittsburgh, Pennsylvania, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2011
PE ASSETS 250M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

PNC Riverarch Capital is a middle-market private equity group that invests in privately-held companies headquartered throughout North America. The Group looks to commit $10 to $50 million to help fund recapitalizations, leveraged and management buyouts, corporate divestitures and growth financings. Target sectors include business and industrial services, specialized manufacturing, and value-added distribution. PNC Riverarch was formed in 2011 and is an affiliate of PNC Financial Services Group.

DEAL STATS #
Overall 20 of 35
Sector (Chemicals) 1 of 1
Type (Secondary Buyout) 7 of 12
State (Pennsylvania) 2 of 4
Country (United States) 18 of 30
Year (2018) 3 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-10-10 Sola Salon Studios

Lakewood, Colorado, United States

Sola Salon Studios provides a unique service to entrepreneurs, giving stylists and beauty professionals high-end, fully-equipped salon studios to start their own businesses without the administrative burden and risk associated with opening a retail storefront. Sola Salon Studios was established in 2004 and is based in Lakewood, Colorado.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-11-22 Pirtek UK

London, United Kingdom

Pirtek UK is a provider of fluid transfer solutions and on-site repairs. Specializing in hydraulic hoses, pipe fittings & couplings. Pirtek offers a comprehensive range of fluid transfer solutions, products & services to industries including Agriculture; Automotive; Construction & Plant Hire; Defence; Environmental; Services; Manufacturing; Marine & Offshore; Material Handling; Mining & Quarrying; Transport & Logistics; Utilities. Pirtek UK was founded in 1988 and is based in London, United Kingdom.

Buy -
Buyer

SilverMill

Isle of Palms, South Carolina, United States
Category Company
Founded 2016
Sector Business Services
DESCRIPTION

SilverMill LLC invests in companies that provide materials, equipment, and services used in research and production applications for bioengineering/biotechnology, food safety, in vitro diagnostics and related technologies. SilverMill was established in 2016 and is based in Isle of Palms, South Carolina.

DEAL STATS #
Overall 1 of 1
Sector (Chemicals) 1 of 1
Type (Secondary Buyout) 1 of 1
State (Pennsylvania) 1 of 1
Country (United States) 1 of 1
Year (2018) 1 of 1

Seller(S) 1

SELLER

Tecum Capital

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2005
PE ASSETS 750M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Tecum Capital is a private equity firm focused on lower middle-market companies across the Eastern-US. Tecum will consider a variety of investment situations including leveraged buyouts, management buyouts, successions, strategic acquisitions, growth capital financings, and recapitalizations. Investment sizes range from $5 - $20 million. Industries of interest include manufacturing, plastics, specialty distribution, technology, healthcare services, defense, food, and business/consumer services. Tecum will not consider investments in start-ups or real estate. Tecum Capital was formed in 2005 and is based in Wexford, Pennsylvania.

DEAL STATS #
Overall 9 of 24
Sector (Chemicals) 2 of 2
Type (Secondary Buyout) 2 of 6
State (Pennsylvania) 7 of 12
Country (United States) 9 of 24
Year (2018) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-10-23 BICO STEEL

Mogadore, Ohio, United States

BICO STEEL is a steel service center that processes heavy carbon steel plate and forged specialty alloy steel. BICO offers a broad collection of services including flame cutting, saw cutting, grinding, milling, machining, and furnace operations. BICO STEEL was founded in 1896 and is based in Mogadore, Ohio.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-12-06 Oberg Industries

Freeport, Pennsylvania, United States

Oberg Industries is a full-service contract manufacturer of precision machined and stamped components. Oberg Industries was founded in 1948 and is based in Freeport, Pennsylvania.

Buy -
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