M&A Deal Summary

Promus Equity Partners, Aldine Capital Partners and City Capital Ventures Acquire ProSteel Security Products

On April 11, 2011, private equity firm Promus Equity Partners, mezzanine finance firm Aldine Capital Partners and growth capital firm City Capital Ventures acquired manufacturer ProSteel Security Products

Acquisition Highlights
  • This is Promus Equity Partners’ 1st, Aldine Capital Partners’ 3rd and City Capital Ventures’ 1st transaction in the Manufacturing sector.
  • This is Promus Equity Partners’ 1st, Aldine Capital Partners’ 17th and City Capital Ventures’ 1st transaction in the United States.
  • This is Promus Equity Partners’ 1st, Aldine Capital Partners’ 1st and City Capital Ventures’ 1st transaction in Utah.

M&A Deal Summary

Date 2011-04-11
Target ProSteel Security Products
Sector Manufacturing
Buyer(s) Promus Equity Partners
Aldine Capital Partners
City Capital Ventures
Deal Type Buyout (LBO, MBO, MBI)

Target

ProSteel Security Products

Provo, Utah, United States
ProSteel Security Products is a manufacturer of gun safes, vault doors, and security doors used to protect firearms and other valuables from damage, theft, and unauthorized access. ProSteel’s gun safes are distributed exclusively through Browning Arms Company which markets them through a network of independent sales representatives to hundreds of sporting goods retailers, gun dealers, and safe retailers nationwide. ProSteel Security Products was founded in 1947 and is based in Provo, Utah.

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Buyer(S) 3

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 1 of 27
Sector (Manufacturing) 1 of 2
Type (Buyout (LBO, MBO, MBI)) 1 of 12
State (Utah) 1 of 3
Country (United States) 1 of 26
Year (2011) 1 of 2
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-12-30 LogicMark

Louisville, Kentucky, United States

LogicMark LLC is a provider of unmonitored personal emergency response devices.

Buy -
Buyer

Aldine Capital Partners

Chicago, Illinois, United States

Investor Investor Investor Investor Investor


Category Mezzanine Finance Firm
Founded 2005
Size Small
Type Sector Agnostic
DESCRIPTION

Aldine Capital Partners is a mezzanine investment firm that provides mezzanine and junior capital financing to lower middle-market companies generating sales of at least $10 million and at least $2 million in EBITDA. Aldine invests in the range of $4 to $25 million per transaction. Types of transactions include management buyouts, acquisition financings, shareholder liquidity events, recapitalizations, and growth financings of smaller middle-market companies. Aldine will consider investments across the United States, but has a primary focus on opportunities in the Midwest. The Firm will not consider investments in start-ups, turnarounds, real estate, insurance, banking, and oil/gas. Aldine Capital was formed in 2005 and is based in Chicago, Illinois.


DEAL STATS #
Overall 17 of 70
Sector (Manufacturing) 3 of 13
Type (Buyout (LBO, MBO, MBI)) 12 of 25
State (Utah) 1 of 2
Country (United States) 17 of 70
Year (2011) 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-03-01 PRE Diversified Holdings

Chicago, Illinois, United States

PRE Diversified Holdings LLC is a holding Company for Fotofab, LLC and Elcon Precision. Fotofab manufactures precision metal parts utilizing photochemical machining. Elcon is a specialty precision manufacturer that performs photo-chemical machining, metallization and resistive coating of ceramics, and also provides brazed assembly services. The companies manufacture small parts for use in a wide variety of products ranging from telecommunications, manufacturing, durable and reusable medical products, and military applications. PRE Diversified Holdings is based in Chicago, Illinois.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-11-30 Seeds 2000

Breckenridge, Minnesota, United States

Seeds 2000, Inc. is a research and development of sunflower hybrids and direct marketing of sunflower, corn and soybean varieties primarily in Minnesota, North and South Dakota and sunflower hybrids in Canada. In addition, the Company is developing markets for its sunflower products in Argentina, China, Turkey, and Eastern Europe.

Sell -
DESCRIPTION

City Capital Ventures is an investment firm that looks invest in partnership with an network of family offices and other, long-term minded private investors. The Firm is sector and stage agnostic and will consider opportunities throughout the US. City Capital Ventures is part of City Capital, boutique investment and advisory firm. City Capital Ventures is based in Chicago, Illinois.


DEAL STATS #
Overall 1 of 8
Sector (Manufacturing) 1 of 2
Type (Buyout (LBO, MBO, MBI)) 1 of 6
State (Utah) 1 of 1
Country (United States) 1 of 7
Year (2011) 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-05-05 Matt’s Cookies

Wheeling, Illinois, United States

Matt’s Cookies Co. is a beloved and well-recognized brand in the soft cookie category. Over the past forty plus years, Matt’s has made great tasting soft baked cookies and bars with wholesome, high-quality ingredients. Matt’s offers cookies in six different varieties: chocolate chip, oatmeal raisin, peanut butter, peanut butter chocolate chip, cranberry walnut, and chocolate chip pecan and premium fig bars in assorted varieties and flavors under the “Zion” label. The Company’s cookies are found in over a thousand grocery and retail outlets ranging from “Supercenters” to local “Mom & Pop” stores. Matt’s Cookies Co. was founded in 1972 and is based in Wheeling, Illinois.

Buy -