M&A Deal Summary

Prophet Equity Acquires Total Plastics Int l

On March 15, 2016, private equity firm Prophet Equity acquired distribution company Total Plastics Int l from A. M. Castle for 55M USD

Acquisition Highlights
  • This is Prophet Equity’s 1st transaction in the Distribution sector.
  • This is Prophet Equity’s largest (disclosed) transaction.
  • This is Prophet Equity’s 15th transaction in the United States.
  • This is Prophet Equity’s 2nd transaction in Michigan.

M&A Deal Summary
Date 2016-03-15
Target Total Plastics Int l
Sector Distribution
Buyer(s) Prophet Equity
Sellers(s) A. M. Castle
Deal Type Divestiture
Deal Value 55M USD
Advisor(s) William Blair (Financial)
Winston & Strawn (Legal)

Target

Total Plastics Int l

Kalamazoo, Michigan, United States
Total Plastics, Int'l is a distributor and value-added service provider of plastic sheet, rod, tube, film, tape and gaskets. The Company supplies over 15,000 product SKUs on a just-in-time basis to diverse end-markets, including Automotive, Industrial and Commercial Machinery, Plastic Processing & Products, Furniture & Fixtures, and Marine and Life Sciences. Total Plastics, Int'l was established in 1978 and is based in Kalamazoo, Michigan.

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Buyer(S) 1

Buyer

Prophet Equity

Southlake, Texas, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2007
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Prophet Equity is a private investment group focused on partnering with owners and management to acquire and build companies. The Firm targets the lower middle-market, and generally pursues businesses with significant value creation potential, such as those found in partnerships, corporate carve-outs, divestitures and non-strategic businesses of larger companies. Prospective companies typically have revenue up to $500 million and are valued between $10 and $250 million. Sectors of interest include automotive, transportation, consumer products, aerospace/defense, distribution, financial services, healthcare, manufacturing, technology, and natural resources. Prophet Equity was founded in 2007 and is based in Southlake, Texas.

DEAL STATS #
Overall 15 of 18
Sector (Distribution) 1 of 1
Type (Divestiture) 3 of 3
State (Michigan) 2 of 2
Country (United States) 15 of 18
Year (2016) 1 of 2
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-08-07 Brown Brothers Asphalt & Concrete

Centennial, Colorado, United States

Brown Brothers Asphalt & Concrete is a provider of asphalt and concrete maintenance and new construction, as well as snow removal, to a diverse base of repeat customers in the real estate development, property management, and construction industries operating in the attractive Colorado market. Brown Brothers Asphalt & Concrete was established in 1996 and is based in Centennial, Colorado.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-04-06 Groff Tractor & Equipment

Mechanicsburg, Pennsylvania, United States

Groff Tractor & Equipment is a heavy equipment specialist serving construction end-markets with flexible mix of parts, service, rentals and sales. Groff has 11 locations that serve Pennsylvania, Maryland, New Jersey, Ohio, Virginia and West Virginia with OEM partnerships that include CASE Construction, Wirtgen America, Terramac, Rubble Master, Liebherr, Terex, Takeuchi, Sakai, Wacker, and Atlas Copco. Groff Tractor & Equipment was founded in 1958 and is based in Mechanicsburg, Pennsylvania.

Buy -

Seller(S) 1

SELLER

A. M. Castle

Oak Brook, Illinois, United States
Category Company
Founded 1890
Sector Distribution
Employees681
Revenue 368M USD (2020)
DESCRIPTION

A. M. Castle is a metals and plastics distribution company. A. M. Castle was incorporated in 1890 and is based in Oak Brook, Illinois.

DEAL STATS #
Overall 1 of 2
Sector (Distribution) 1 of 1
Type (Divestiture) 1 of 2
State (Michigan) 1 of 1
Country (United States) 1 of 2
Year (2016) 1 of 2
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-12-16 Tube Supply

Houston, Texas, United States

Tube Supply, Inc. is a distributor of tubular and bar products for the oil and gas industry.

Buy $165M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-08-07 Kreher Steel

Melrose Park, Illinois, United States

Kreher Steel is a metals service center business that provides value-added processing and distribution services to a wide range of manufacturing end-markets across North America. Kreher Steel was formed in 1978 and is based in Melrose Park, Illinois.

Sell -
Mergr

Product

Company

Legal