M&A Deal Summary

PSP Capital Partners Acquires E.B. Bradley

On February 5, 2014, family office PSP Capital Partners acquired distribution company E.B. Bradley from Industrial Opportunity Partners and Stonehenge Partners

Acquisition Highlights
  • This is PSP Capital Partners’ 1st transaction in the Distribution sector.
  • This is PSP Capital Partners’ 2nd transaction in the United States.
  • This is PSP Capital Partners’ 1st transaction in California.

M&A Deal Summary

Date 2014-02-05
Target E.B. Bradley
Sector Distribution
Buyer(s) PSP Capital Partners
Sellers(s) Industrial Opportunity Partners
Stonehenge Partners
Deal Type Secondary Buyout

Target

E.B. Bradley

Vernon, California, United States
E.B. Bradley is a distributor of cabinet hardware, laminates and surfacing products, board products, edgebanding, and woodworking supplies, as well as a manufacturer of laminated panels, serving the commercial construction and residential renovation markets. E.B. Bradley was founded in 1929 and is based in Vernon, California.

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Buyer(S) 1

DESCRIPTION

PSP Capital Partners is the family office for Penny Pritzker. PSP Capital looks to invest in real estate, investment funds/partnerships, as well as directly in companies. The direct investment group invests in established, profitable and growing businesses in partnership with management teams. PSP seeks to commit $15 to $100 million per transaction in a variety of transaction situations including special situations, consolidations, buyouts, and recapitalizations. Sectors of interest include business services, niche manufacturing, value-added distribution, and food/agribusiness. PSP Capital Partners is based in Chicago.


DEAL STATS #
Overall 2 of 8
Sector (Distribution) 1 of 1
Type (Secondary Buyout) 2 of 5
State (California) 1 of 1
Country (United States) 2 of 7
Year (2014) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-05-03 HALO

Sterling, Illinois, United States

HALO is a marketing services platform that distributes promotional products and provides employee recognition services. HALO was founded in 1952 and is headquartered in Sterling, Illinois.

Buy $77M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-04-14 HALO

Sterling, Illinois, United States

HALO is a marketing services platform that distributes promotional products and provides employee recognition services. HALO was founded in 1952 and is headquartered in Sterling, Illinois.

Sell -

Seller(S) 2

SELLER

Industrial Opportunity Partners

Evanston, Illinois, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2005
PE ASSETS 1.5B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Industrial Opportunity Partners is a private equity firm focused on acquiring and managing middle-market manufacturing and value-added distribution businesses. IOP looks to invest $15 to $100 million in companies with revenues between $50 and $500 million with an EBITDA of $5 to $50 million. Sectors of interest include building products, electronics, foundry, and casting products, precision machining, stamped and fabricated products, automotive components and steel/metal processing. IOP has a particular investment focus on enhancing the operations and optimizing the cost structures of businesses. Industrial Opportunity Partners was formed in 2005 and is based in Evanston, Illinois.


DEAL STATS #
Overall 5 of 22
Sector (Distribution) 1 of 1
Type (Secondary Buyout) 2 of 4
State (California) 1 of 1
Country (United States) 5 of 20
Year (2014) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-12-17 KIC

Vancouver, Washington, United States

KIC LLC is a provider of wheel-end components for medium and heavy-duty trucks and trailers. KIC supplies brake drums, rotors, hub & drum assemblies, steel wheels and aluminum wheels to both original equipment manufacturers and aftermarket distributors. KIC designs and tests its own products and partners with contract manufacturers located throughout the world.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-06-02 AAA Sales & Engineering

Oak Creek, Wisconsin, United States

AAA Sales & Engineering is a designer and manufacturer of railroad products, production machining, and short-run machining. AAA Sales & Engineering was founded in 1968 and is based in Oak Creek, Wisconsin.

Buy -
SELLER

Stonehenge Partners

Columbus, Ohio, United States

Investor Investor Investor Investor Investor


Category Mezzanine Finance Firm
Founded 1999
PE ASSETS 1.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Stonehenge Partners is a private equity firm that seeks equity and mezzanine investments in lower middle-market companies with at least $10 million in sales. Stonehenge looks to invest ranging from $10 million to $50 million of equity/junior capital to support management buyouts, leveraged acquisitions, recapitalizations, and growth capital financings. Stonehenge prefers businesses operating in manufacturing, distribution, business services and healthcare. Stonehenge avoids investing in real estate, oil and gas, high technology and 'industries that are susceptible to a high degree of cyclicality'. Stonehenge was formed in 1999 and is based in Columbus, Ohio.


DEAL STATS #
Overall 26 of 38
Sector (Distribution) 2 of 4
Type (Secondary Buyout) 12 of 15
State (California) 2 of 2
Country (United States) 26 of 37
Year (2014) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-09-30 TherEX

Franklin, Tennessee, United States

TherEX offers a unique, hassle-free business model that allows hospitals and physician practices to improve patient care and satisfaction, reduce risk, strengthen market position, and improve profitability.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-05-30 Staci

Saint-Ouen-l'Aumône, France

Staci is a third-party logistics provider with a focus on complex retail logistics. Staci offers innovative B2B and B2C logistics solutions for companies wishing to outsource all or part of their logistics and distribution. Staci was founded in 1989 and is based in Saint-Ouen-l'Aumône, France.

Sell -