M&A Deal Summary

Provariant Equity Partners and Aldine Capital Partners Acquire Smart Vent

On July 1, 2023, private equity firm Provariant Equity Partners and mezzanine finance firm Aldine Capital Partners acquired manufacturer Smart Vent

Acquisition Highlights
  • This is Provariant Equity Partners’ 1st and Aldine Capital Partners’ 11th transaction in the Manufacturing sector.
  • This is Provariant Equity Partners’ 2nd and Aldine Capital Partners’ 64th transaction in the United States.
  • This is Provariant Equity Partners’ 1st and Aldine Capital Partners’ 3rd transaction in New Jersey.

M&A Deal Summary

Date 2023-07-01
Target Smart Vent
Sector Manufacturing
Buyer(s) Provariant Equity Partners
Aldine Capital Partners
Deal Type Recapitalization

Target

Smart Vent

Mt. Royal, New Jersey, United States
Smart Vent provides a certified line of Engineered Flood Vents; a safeguard mandated by the Federal Emergency Management Agency, the National Flood Insurance Program, and the State and National Construction Codes in the United States. The company has provided more than 200 million sq. ft of flood protection across the world. Smart Vent was formed in 2001 and is based in Mt. Royal, New Jersey.

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Buyer(S) 2

DESCRIPTION

Provariant Equity Partners is a private investment firm focused on acquiring profitable ($5 to $15 million of EBITDA) niche manufacturing and service oriented companies throughout North America. Specific areas of interest include building materials, engineered products, automotive, food/ingredients, distribution, aerospace/defense, education, testing, business services, and franchising. Provariant prefers founder owned companies operating in large, fragmented markets. Provariant Equity Partners was established in 2018 and is headquartered in Chagrin Falls, Ohio.


DEAL STATS #
Overall 2 of 2
Sector (Manufacturing) 1 of 1
Type (Recapitalization) 2 of 2
State (New Jersey) 1 of 1
Country (United States) 2 of 2
Year (2023) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-04-27 MWE

Columbus, Ohio, United States

MWE Sales is a nationwide resource for compact equipment parts and accessories and outdoor power equipment. MWE leverages multiple brands and solutions for its broad customer base, including TNT tracks and tires, ClimateRight and Westinghouse portable generators. MWE sets the gold standard through innovation and unparalleled attention to customer service, product quality and price. MWE was founded in 2009 and is based in Columbus, Ohio.

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 64 of 70
Sector (Manufacturing) 11 of 13
Type (Recapitalization) 13 of 13
State (New Jersey) 3 of 3
Country (United States) 64 of 70
Year (2023) 4 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-04-12 Tower Engineering Professionals

Raleigh, North Carolina, United States

Tower Engineering Professionals is an operator of engineering services firm focused on serving the telecommunications industry. Tower Engineering Professionals' services include structural analysis, civil engineering, surveying; environmental, inspection, geotechnical, renewable energy, residential, commercial, plumbing, mechanical, and electrical, and structural modification and design. Tower Engineering Professionals was founded in 1997 and is based in Raleigh, North Carolina.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-07-26 Ally Services

Fredericksburg, Virginia, United States

Ally Services is a regional provider of essential home and facility services, including repair, maintenance, and replacement of plumbing, water filtration, and HVAC systems. Ally Services is based in Fredericksburg, Virginia.

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