M&A Deal Summary

Quad-C Management Acquires HaystackID

On February 3, 2020, private equity firm Quad-C Management acquired software company HaystackID from Knox Capital, Maranon Capital and ORIX Private Equity Solutions

Acquisition Highlights
  • This is Quad-C Management’s 1st transaction in the Software sector.
  • This is Quad-C Management’s 43rd transaction in the United States.
  • This is Quad-C Management’s 5th transaction in Illinois.

M&A Deal Summary
Date 2020-02-03
Target HaystackID
Sector Software
Buyer(s) Quad-C Management
Sellers(s) Knox Capital
Maranon Capital
ORIX Private Equity Solutions
Deal Type Recapitalization

Target

HaystackID

Chicago, Illinois, United States
HaystackID is an international end-to-end eDiscovery and forensics services and solutions provider. The Company offers consultation and solutions to corporations and law firms that vastly improve legal hold, data collection and eDiscovery workflow. Haystack's goal is to work collaboratively to lower overall spend and minimize risk while improving efficiency. HaystackID was founded in 2011 and is based in Chicago, Illinois.

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Buyer(S) 1

Buyer

Quad-C Management

Charlottesville, Virginia, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1989
PE ASSETS 4.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Quad-C Management is a generalist private equity firm that makes control investments in middle-market companies operating in a wide range of industries. Target sector's include building products, business-to-business services, consumer products, distribution/logistics, equipment rental, financial services, healthcare, light manufacturing, packaging, restaurants, security, and specialty chemicals. Quad-C's target investment size is $50 to $150 million in businesses valued between $100 and $500 million and with EBITDA greater than $10 million. Prospective transaction types include recapitalizations/family successions, management buyouts, and industry consolidations. Quad-C Management was founded in 1989 and is headquartered in Charlottesville, Virginia.

DEAL STATS #
Overall 47 of 62
Sector (Software) 1 of 1
Type (Recapitalization) 5 of 7
State (Illinois) 5 of 6
Country (United States) 43 of 58
Year (2020) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-09-10 Wolf Home Products

York, Pennsylvania, United States

Wolf Home Products is a provider of branded kitchen and bath cabinetry, vanities, and accent tiles, as well as high-performance outdoor living and specialty building products. Wolf Home Products was founded in 1843 and is based in York, Pennsylvania.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-03-23 Textum

Belmont, North Carolina, United States

Textum is an advanced textile engineering and manufacturing company. The Company focuses on novel reinforcement technologies that are exposed to complex loading in extreme environments. Textum designs and fabricates high-performance textile materials using high technology yarns such as carbon, ceramic, refractory metals and aramids. Products include fabrics, solid blocks and near net shape preforms. Applications include thermal protection systems, antenna windows, nosetips, rocket nozzles, and reentry systems in aerospace and defense as well as material applications in energy and infrastructure. Textum was formed in 1996 and is based in Belmont, North Carolina.

Buy -

Seller(S) 3

SELLER

Knox Capital

Investor

Category Private Equity Firm
Founded 2013
Size Small
Type Sector Agnostic
DESCRIPTION

Knox Capital Holdings is a private equity firm focused on investing in family, founder, and entrepreneur-owned middle market businesses. Knox looks to acquire interests in engineered manufacturing, distribution and select business services companies with $15 to $100 million of revenue and $3 to $15 million of EBITDA. Knox will consider both majority or minority positions. Knox Capital is based in Chicago, Illinois.

DEAL STATS #
Overall 2 of 3
Sector (Software) 1 of 1
Type (Recapitalization) 1 of 1
State (Illinois) 1 of 1
Country (United States) 2 of 3
Year (2020) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-09-18 a360inc

San Antonio, Texas, United States

a360inc is a technology and outsourcing services provider to the financial services, real estate, and legal industries. a360inc provides case management system technology and practice management services to law firms, title agencies and underwriters, and mortgage companies and investors. a360inc was founded in 2017 and is based in San Antonio, Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-04-02 Collabtech

Mesa, Arizona, United States

Collabtech is a provider of collaboration technology services. Collabtech was created to bridge the gap between smart collaboration technology tools and end-user success. With a strong presence in 110 countries and counting, the company has experienced significant growth year-over-year and made its mark in the space due to its deep technical expertise and exceptional services. Collabtech was founded in 2017 and is based in Mesa, Arizona.

Buy -
SELLER

Maranon Capital

Chicago, Illinois, United States

Investor Investor Investor Investor Investor

Category Mezzanine Finance Firm
Founded 2007
PE ASSETS 4.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Maranon Capital LP is an investment firm that provides senior financing, mezzanine debt and equity co-investments for private equity backed and non sponsored middle market companies. Maranon seeks investments in financially healthy businesses with stable cash flows, diverse customers, and strong management. Prospective companies are valued between $30 and $150 million and generate $5 to $30 million of EBITDA. Maranon looks to invest $2 to $10 million for equity co-investments, $5 to $30 million for junior capital needs, and $10 to $50 million for senior debt requirements. Areas of interest include business services, healthcare services, distribution, manufacturing and consumer products/services. Funds typically support acquisitions, recapitalizations, refinancings, consolidations, ESOPs and growth capital needs. Maranon Capital LP was formed in 2007 and is based in Chicago. The Firm has additional offices in Birmingham, Michigan and South Bend, Indiana.

DEAL STATS #
Overall 16 of 21
Sector (Software) 1 of 2
Type (Recapitalization) 2 of 2
State (Illinois) 2 of 3
Country (United States) 16 of 21
Year (2020) 1 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-11-22 Milton Industries

Chicago, Illinois, United States

Milton Industries is a provider of highly-engineered tools and accessories for pneumatic applications across a variety of end markets, including vehicle service, industrial MRO, aerospace and defense, and agriculture. Milton Industries was founded in 1943 and is based in Chicago, Illinois.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-02-12 Kronos Foods

Glendale Heights, Illinois, United States

Kronos Foods is a manufacturer of gyros meat, pita bread, baklava, and other Mediterranean foods and a specialty foodservice distributor to local retail outlets as well as to restaurants, hospitals, businesses, schools, and universities. Kronos Foods was founded in 1975 and is based in Glendale Heights, Illinois.

Sell -
SELLER

ORIX Private Equity Solutions

Investor

Category Mezzanine Finance Firm
PE ASSETS 600M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

ORIX Mezzanine & Private Equity is the direct investment arm of asset manager ORIX. ORIX Mezzanine & Private Equity looks to invest $10 to $20 million to support buyouts, acquisitions, growth capital needs, and sponsored led transactions of profitable (greater than $5 million of EBITDA) companies throughout North America. ORIX will consider a variety of investment structures, including subordinated and convertible debt to common, preferred and convertible preferred equity. ORIX Mezzanine & Private Equity is headquartered in Dallas, Texas.

DEAL STATS #
Overall 13 of 21
Sector (Software) 4 of 5
Type (Recapitalization) 2 of 2
State (Illinois) 1 of 1
Country (United States) 11 of 19
Year (2020) 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-01-15 Kovach Building Enclosures

Chandler, Arizona, United States

Kovach Building Enclosures is a designer, manufacturers, and installer of panel and glazing systems for commercial building enclosures. Kovach offers services to meet design applications for complex building projects in the higher education, healthcare, municipal, commercial, sports arena, and airport end markets. Kovach Building Enclosures was founded in 1969 and is based in Chandler, Arizona.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-04-20 Accelalpha

Bellevue, Washington, United States

Accelalpha is a business and IT consulting services firm that provides services across a breadth of industries. Accelalpha primarily focuses on providing end-to-end enterprise solution implementation services and is recognized for its rigorous, results-oriented approach in the development of solutions that deliver tangible results in a short time frame. Accelalpha’s breadth of consulting expertise includes project management, business process re-engineering, solutions architecture, application implementation, technology development, managed services, and systems administration. Accelalpha was founded in 2009 and is based in Bellevue, Washington.

Buy -
Mergr

Product

Company

Legal