M&A Deal Summary

Race Rock and Advantage Capital Partners Acquire Missouri Cobalt

On January 1, 2019, growth capital firms Race Rock and Advantage Capital Partners acquired metals/mining company Missouri Cobalt

Acquisition Highlights
  • This is Race Rock’s 1st and Advantage Capital Partners’ 5th transaction in the Metals/Mining sector.
  • This is Race Rock’s 5th and Advantage Capital Partners’ 224th transaction in the United States.
  • This is Race Rock’s 2nd and Advantage Capital Partners’ 32nd transaction in Missouri.

M&A Deal Summary
Date 2019-01-01
Target Missouri Cobalt
Sector Metals/Mining
Buyer(s) Race Rock
Advantage Capital Partners
Deal Type Buyout (LBO, MBO, MBI)

Target

Missouri Cobalt

Clayton, Missouri, United States
Missouri Cobalt is a vertically integrated cobalt and nickel producer in North America and is strategically positioned to supply clean, domestic, and ethically sourced battery metals required to meet the unprecedented demand for electric vehicles and lithium-ion batteries. Missouri Cobalt was founded in 2018 and is based in Clayton, Missouri.

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Buyer(S) 2

Buyer

Race Rock

Investor

Category Growth Capital Firm
Founded 2008
Size Small
Type Sector Agnostic
DESCRIPTION

Race Rock Group is a private investment firm focused on majority control or minority positions in profitable lower middle-market companies. The Firm generally looks for businesses operating in the gulf coast or Midwest areas in the US. Sectors of interest include retail equipment, financial services, manufacturing, chemicals, food/beverage, industrial services, and real estate. Race Rock Group is headquartered in Houston, Texas.

DEAL STATS #
Overall 5 of 8
Sector (Metals/Mining) 1 of 1
Type (Buyout (LBO, MBO, MBI)) 5 of 7
State (Missouri) 2 of 2
Country (United States) 5 of 8
Year (2019) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-01-01 Gulf Capital Bank

Houston, Texas, United States

Gulf Capital Bank is a Houston based bank targeting middle-market businesses with annual revenues up to $2 billion. Gulf Capital Bank was founded in 2019 and is based in Houston, Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-12-04 Structural & Steel Products

Fort Worth, Texas, United States

Structural & Steel Products is a manufacturer and distributor of products used in the highway construction end-market, including overhead sign structures, guardrails, crash cushions, lighting poles and bridge decking. The Company manufactures tubular structures used in the communication and power transmission industries. Structural & Steel Products was founded in 1969 and is based in Fort Worth, Texas.

Buy -
Buyer

Advantage Capital Partners

New Orleans, Louisiana, United States

Investor Investor Investor Investor Investor

Category Growth Capital Firm
Founded 1992
PE ASSETS 2.6B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Advantage Capital Partners is a private equity firm focused on providing growth capital to a variety of companies. The Firm's geographic coverage includes Alabama, Colorado, Florida, Hawaii, Louisiana, Mississippi, Missouri, New York, Texas, Wisconsin and Washington DC. Advantage looks to initially commit $0.5 to $2 million per investment and can provide mezzanine debt in addition to equity capital. Areas of interest include communications, information technology, life science, and energy. Advantage Capital was formed in 1992 and is headquartered in New Orleans, Louisiana.

DEAL STATS #
Overall 225 of 272
Sector (Metals/Mining) 5 of 5
Type (Buyout (LBO, MBO, MBI)) 40 of 42
State (Missouri) 32 of 33
Country (United States) 224 of 270
Year (2019) 6 of 13
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-01-01 mTrade

Oxford, Mississippi, United States

mTrade focuses on improving the way organizations buy, sell, and analyze whole loans. mTrade solutions optimize your mortgage trading and collaboration process. mTrade was founded in 2016 and is based in Oxford, Mississippi.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-02-08 Covetrus

Portland, Maine, United States

Covetrus is a provider of technology-enabled healthcare services for companion and equine veterinary practitioners. The company partners with veterinarians to create insight into gaps in patient care and offer professionalized pro-active prescription management to drive client engagement and improve compliance. Covetrus was formed in 2010 and is based in Portland, Maine.

Sell -
Mergr

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