M&A Deal Summary

Promus Equity Partners and PNC Mezzanine Capital Acquire Engineered Performance Technologies

On January 1, 2014, private equity firm Promus Equity Partners and mezzanine finance firm PNC Mezzanine Capital acquired automotive company Engineered Performance Technologies

Acquisition Highlights
  • This is Promus Equity Partners’ 2nd and PNC Mezzanine Capital’s 1st transaction in the Automotive sector.
  • This is Promus Equity Partners’ 7th and PNC Mezzanine Capital’s 42nd transaction in the United States.
  • This is Promus Equity Partners’ 3rd and PNC Mezzanine Capital’s 7th transaction in Illinois.

M&A Deal Summary
Date 2014-01-01
Target Engineered Performance Technologies
Sector Automotive
Buyer(s) Promus Equity Partners
PNC Mezzanine Capital
Deal Type Buyout (LBO, MBO, MBI)

Target

Engineered Performance Technologies

Sycamore, Illinois, United States
Engineered Performance Technologies is a designer, marketer and fast-growing online retailer of software-enabled vehicle modification solutions that meet an automotive enthusiast's need for increased speed, power, accuracy, and visibility. Engineered Performance Technologies is based in Sycamore, Illinois.

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Buyer(S) 2

Buyer

Promus Equity Partners

Chicago, Illinois, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2011
PE ASSETS 700M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Promus Equity Partners is a private investment firm affiliated with Promus Holdings, a multi-family office. Promus looks to fund buyouts, management buyouts, and recapitalizations as well as growth equity financings and strategic add-ons for existing portfolio companies. Sectors of interest include consumer products, food, beverages, industrial products, specialty materials, distribution, and business services. Target platform companies generally have up to $15 million of EBITDA. Promus Equity Partners was founded in 2011 and is based in Chicago, Illinois.

DEAL STATS #
Overall 7 of 27
Sector (Automotive) 2 of 3
Type (Buyout (LBO, MBO, MBI)) 4 of 12
State (Illinois) 3 of 6
Country (United States) 7 of 26
Year (2014) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-11-19 Metasource

Draper, Utah, United States

Metasource is a provider of technology-enabled BPO services with a focus on the financial services, healthcare, and retail industries. MetaSource offers a full range of services, including document processing, customer care, and content management solutions delivered via premise-based and SaaS-based platforms designed to help customers achieve organizational efficiencies, cost savings, and other strategic benefits. Metasource was founded in 2007 and is based in Draper, Utah.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-06-01 Dover Saddlery

Littleton, Massachusetts, United States

Dover Saddlery is a multichannel retailer of equestrian products in the United States. Dover offers a broad and distinctive selection of competitively priced, brand-name products for horse and rider through catalogs, the internet, and company-owned retail stores. Dover Saddlery was founded in 1975 and is based in Littleton, Massachusetts.

Buy $45M
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 43 of 77
Sector (Automotive) 1 of 3
Type (Buyout (LBO, MBO, MBI)) 21 of 38
State (Illinois) 7 of 7
Country (United States) 42 of 73
Year (2014) 1 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-01-01 Century Mold

Rochester, New York, United States

Century Mold is a leading designer and manufacturer of high quality, precision molded thermo-plastic components. The Company supplies its products primarily to Tier 1 automotive/truck suppliers for use in under-the-hood car and truck applications. Century Mold offers an integrated solution, including design, engineering and production of precision molds; high quality injection and insert molding of close tolerance plastic components; and assembly and finishing operations. The Company's parts are on over 60% of all cars and light duty trucks manufactured in North America.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-05-27 Identity Group

Nashville, Tennessee, United States

Identity Group is a manufacturer of custom identity products engineered to communicate a brand, message, location, or creative theme. Identity Group is best known for manufacturing and marketing customized interior signs and wayfinding products for large-scale construction and renovation projects. Identity Group was founded in 1957 and is based in Nashville, Tennessee.

Buy -
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