Investment Summary

Alpha Capital Partners and Prism Capital Exit Banner Industries

On November 16, 2012, mezzanine finance firm Centerfield Capital Partners, private equity firm High Street Capital and mezzanine finance firm Prism Capital invested in metals/mining company Banner Industries from Alpha Capital Partners and Prism Capital

Investment Highlights
  • This is Centerfield Capital Partners’ 1st, High Street Capital’s 1st and Prism Capital’s 2nd transaction in the Metals/Mining sector.
  • This is Centerfield Capital Partners’ 33rd, High Street Capital’s 11th and Prism Capital’s 24th transaction in the United States.
  • This is Centerfield Capital Partners’ 3rd, High Street Capital’s 1st and Prism Capital’s 5th transaction in Illinois.
Investment Fate
  • Banner Industries was sold to a financial buyer in 2018.
  • Banner Industries was sold to a consortium of financial buyers in 2019.

Investment Summary

Date 2012-11-16
Target Banner Industries
Sector Metals/Mining
Investor(s) Centerfield Capital Partners
High Street Capital
Prism Capital
Sellers(s) Alpha Capital Partners
Prism Capital
Deal Type Recapitalization
Advisor(s) Kroll (Financial)

Target

Banner Industries

Carol Stream, Illinois, United States
Banner Industries is a processor and distributor of metal bar products for a diverse set of industrial and medical end markets. Banner provides supply chain solutions and a variety of value-added metal processing services, including centerless grinding, chamfering, turning, precision saw cutting, straightening, material ID and full traceability, waterjet cutting, ultrasonic testing, and CNC machining to its OEM, contract manufacturer, and precision machining customers. Banner Industries was founded in 1961 and is based in Carol Stream, Illinois.

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Investor(S) 3

Investor

Centerfield Capital Partners

Indianapolis, Indiana, United States

Investor Investor Investor Investor Investor


Category Mezzanine Finance Firm
Founded 2001
PE ASSETS 1.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Centerfield Capital Partners is a private investment firm that provides subordinated debt and equity capital to mid-market companies. Prospective transactions include acquisition financings, management buyouts, shareholder liquidity needs, recapitalizations, corporate divestitures, ESOP financings, and sponsored/unsponsored transactions. Centerfield generally invests in companies with sales of $15 to $100 million and EBITDA of $3 to $15 million. Target sectors include manufacturing, business services, healthcare services, and transportation/distribution. Centerfield will not invest in early stage businesses, turnaround situations, retail, real estate, and finance companies. Centerfield Capital Partners was founded in 2001 and is based in Indianapolis, Indiana.


DEAL STATS #
Overall 33 of 100
Sector: Metals/Mining M&A 1 of 1
Type: Recapitalization M&A Deals 4 of 19
State: Illinois M&A 3 of 8
Country: United States M&A 33 of 100
Year: 2012 M&A 3 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-10-22 DMS

Portland, Oregon, United States

DMS is a provider of integrated, omni-channel direct marketing solutions to a diverse client base throughout the U.S. DMS serves a variety of end markets including banking, alternative lending, technology and telecom. DMS was founded in 1982 and is based in Portland, Oregon.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-11-20 DMS

New York, New York, United States

DMS is a provider of video post-production services, including video content processing and distribution services. DMS was founded in 1992 and is based in New York City.

Buy -
Investor

High Street Capital

Chicago, Illinois, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1997
PE ASSETS 165M USD
Size Small
Type Sector Agnostic
DESCRIPTION

High Street Capital is a private investment firm focused on acquiring lower middle-market businesses generating revenues $10-$100 million with an EBITDA up to $15 million. The Firm typically invests in recapitalizations, management buyouts and growth equity financings. Target sectors include business services, aerospace/defense, healthcare product manufacturers and suppliers, testing and analytical services, chemicals and coatings, specialty plastics, and test/measurement equipment manufacturers. High Street looks to commit $2 to $8 million of equity per transaction and will consider both control and non-control situations. High Street will not invest in retail businesses, restaurants, oil and gas, entertainment, commodities, turnarounds, or start-ups. High Street Capital was formed in 1997 and is based in Chicago, Illinois.


DEAL STATS #
Overall 11 of 27
Sector: Metals/Mining M&A 1 of 2
Type: Recapitalization M&A Deals 1 of 2
State: Illinois M&A 1 of 3
Country: United States M&A 11 of 27
Year: 2012 M&A 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-07-13 DataSource

Kansas City, Missouri, United States

DataSource, Inc. is a technology-enabled Business Process Outsourcing (“BPO”) solutions provider of print supply and marketing services for industry-leading brands in the restaurant/hospitality and retail market segments. DataSource provides the expertise, services, technology, and products to help companies precisely execute and manage their branded programs through end-to-end brand management solution. DataSource was founded in 1989 and is based in Kansas City, Missouri.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-02-08 ShoreMaster

Fergus Falls, Minnesota, United States

ShoreMaster is a manufacturer of premium docks manufactures docks, boat lifts, and accessories in North America. The company has five brands to meet the needs of any waterfront owner throughout North America. Its brands are ShoreMaster, PolyDock Products, Rhino Marine Systems, Shoreline Industries, and OEM Industries. ShoreMaster was formed in 1972 and is based in Fergus Falls, Minnesota.

Buy -
Investor

Prism Capital

Chicago, Illinois, United States

Investor Investor Investor Investor


Category Mezzanine Finance Firm
Founded 1999
PE ASSETS 190M USD
Size Small
Type Sector Agnostic
DESCRIPTION

Prism Capital is a licensed SBIC investment firm focused on providing equity and mezzanine capital to lower middle market companies. Prism's Mezzanine practice looks to provide up to $7 million in financing for Midwest based mature industrial companies. Mezzanine capital is typically invested to support internal growth, recapitalizations, mergers, acquisitions and ownership changes. Prism also provides equity of $2 to $15 million through an Opportunity Fund. The Opportunity Fund invests in expansion stage IT companies as well as traditional manufacturing and service businesses with growth opportunities. Prism Capital was formed in 1999 and is based in Chicago, Illinois.


DEAL STATS #
Overall 24 of 24
Sector: Metals/Mining M&A 2 of 2
Type: Recapitalization M&A Deals 2 of 2
State: Illinois M&A 5 of 5
Country: United States M&A 24 of 24
Year: 2012 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-07-23 GCM Holding

Union, California, United States

GCM Holding is a manufacturer of low-to-medium volume, mission-critical precision machined components and assemblies. Based near Chicago’s O’Hare airport, the Company serves large, market customers in the energy, medical equipment, scientific laboratory, and industrial end markets. GCM Holding was founded in 1978 and is based in Union, California.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-07-25 Fusion Specialties

Broomfield, Colorado, United States

Fusion is a team of artists, engineers, and project managers whose top priority is to listen to peoples wishes, brand learning and delivering custom solutions tailored specifically to the satisfaction of it's customers. The areas focused on are Custom design, value engineering, and innovative manufacturing.

Sell -

Seller(S) 2

SELLER

Alpha Capital Partners

Chicago, Illinois, United States

Category Family Office
Founded 1984
PE ASSETS 135M USD
Size Small
Type Sector Agnostic
DESCRIPTION

Alpha Capital Partners is a private equity firm focused on growth equity investments in younger companies and traditional private equity investments in established businesses. Established companies typically have revenues of $15 to $100 million and younger companies should have revenues of at least $5 million. Sectors of interest include manufacturing, distribution, medical/healthcare, communications, information technology, consumer, and financial services. Alpha generally invests $500k to $5 million per transaction. Alpha's investment horizon is two to seven years. Alpha Capital does not invest in start-ups or early stage enterprises. Alpha Capital Partners was formed in 1984 and is based in Chicago.


DEAL STATS #
Overall 1 of 2
Sector: Metals/Mining M&A 1 of 1
Type: Recapitalization M&A Deals 1 of 1
State: Illinois M&A 1 of 1
Country: United States M&A 1 of 2
Year: 2012 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-02-01 Propane Services

Romulus, Michigan, United States

Propane Services is a distributor of propane to industrial and commercial customers, specialized in commercial and industrial propane along with construction and temporary heat services. Propane Services was founded in 1965 and is based in Romulus, Michigan.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-06-30 America s Powersports

Allen, Texas, United States

America's Powersports is an operator of an auto dealer network for the power sports equipment manufacturers (“OEMs”), including Harley-Davidson, Honda, Yamaha, Kawasaki, Suzuki, Polaris, and Bombardier. America's Powersports was founded in 1998 and is based in Allen, Texas.

Sell -
SELLER

Prism Capital

Chicago, Illinois, United States

Investor Investor Investor Investor


Category Mezzanine Finance Firm
Founded 1999
PE ASSETS 190M USD
Size Small
Type Sector Agnostic
DESCRIPTION

Prism Capital is a licensed SBIC investment firm focused on providing equity and mezzanine capital to lower middle market companies. Prism's Mezzanine practice looks to provide up to $7 million in financing for Midwest based mature industrial companies. Mezzanine capital is typically invested to support internal growth, recapitalizations, mergers, acquisitions and ownership changes. Prism also provides equity of $2 to $15 million through an Opportunity Fund. The Opportunity Fund invests in expansion stage IT companies as well as traditional manufacturing and service businesses with growth opportunities. Prism Capital was formed in 1999 and is based in Chicago, Illinois.


DEAL STATS #
Overall 20 of 30
Sector: Metals/Mining M&A 2 of 3
Type: Recapitalization M&A Deals 1 of 1
State: Illinois M&A 5 of 7
Country: United States M&A 20 of 30
Year: 2012 M&A 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-07-23 GCM Holding

Union, California, United States

GCM Holding is a manufacturer of low-to-medium volume, mission-critical precision machined components and assemblies. Based near Chicago’s O’Hare airport, the Company serves large, market customers in the energy, medical equipment, scientific laboratory, and industrial end markets. GCM Holding was founded in 1978 and is based in Union, California.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-07-25 Fusion Specialties

Broomfield, Colorado, United States

Fusion is a team of artists, engineers, and project managers whose top priority is to listen to peoples wishes, brand learning and delivering custom solutions tailored specifically to the satisfaction of it's customers. The areas focused on are Custom design, value engineering, and innovative manufacturing.

Sell -