M&A Deal Summary

Red Lion Controls Acquires Sixnet Holdings

On October 6, 2011, Red Lion Controls acquired manufacturer Sixnet Holdings from American Capital and Riverside Partners for 72M USD

Acquisition Highlights
  • This is Red Lion Controls’ 1st transaction in the Manufacturing sector.
  • This is Red Lion Controls’ largest (disclosed) transaction.
  • This is Red Lion Controls’ 1st transaction in the United States.
  • This is Red Lion Controls’ 1st transaction in New York.

M&A Deal Summary

Date 2011-10-06
Target Sixnet Holdings
Sector Manufacturing
Buyer(s) Red Lion Controls
Sellers(s) American Capital
Riverside Partners
Deal Type Add-on Acquisition
Deal Value 72M USD

Target

Sixnet Holdings

Ballston Lake, New York, United States
Sixnet is a privately held company that provides innovative market-leading machine-to-machine (M2M) data communications solutions. Sixnet’s worldwide customers benefit from its unique ability to integrate cellular modems, industrial automation products, and data connectivity products into rugged, reliable, and cost effective solutions.

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Buyer(S) 1

Buyer

Red Lion Controls

York, Pennsylvania, United States

Category Company
Founded 1972
Sector Manufacturing
DESCRIPTION

Red Lion Controls, an internationally based manufacturer of a range of control devices, got its start in a garage in 1972, and now boasts three offices across the world as part of Spectris plc. Red Lion Controls has built a strong reputation in several product areas including human machine interface, process measurement and control, and digital measurement and control. Red Lion has a complete family of quality and value oriented products to serve the needs of our international customer base. In addition to world headquarters in York, Pennsylvania, Red Lion has sales offices in Europe and Asia.


DEAL STATS #
Overall 1 of 1
Sector (Manufacturing) 1 of 1
Type (Add-on Acquisition) 1 of 1
State (New York) 1 of 1
Country (United States) 1 of 1
Year (2011) 1 of 1
Size (of disclosed) 1 of 1

Seller(S) 2

SELLER

American Capital


Category Private Equity Firm
Founded 1997
PE ASSETS 22.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

American Capital was a publicly traded buyout and mezzanine investment firm. American Capital invested in buyouts, growth capital financings, acquistion financings, and recapitalizations. The Firm looked to finance businesses with at least $4 million in EBITDA and valued between $20 and $500 million. American Capital ws a generalist firm with broad interest in traditional industries such as manufacturing, distribution, and services. American Capital's European investment affiliate is European Capital. European Capital looked to invest $10 to $600 million of equity, mezzanine, and/or senior debt in similar opportunities across Europe. American Capital was formed in 1997 and in January 2017, merged with Ares Capital Management.


DEAL STATS #
Overall 132 of 194
Sector (Manufacturing) 10 of 16
Type (Add-on Acquisition) 61 of 87
State (New York) 4 of 8
Country (United States) 129 of 186
Year (2011) 11 of 12
Size (of disclosed) 50 of 56
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-10-05 Blackboard Engage

Chicago, Illinois, United States

Blackboard Engage (formerly Edline LLC) provides learning community management systems that help schools improve performance by increasing parental involvement, supporting teachers, and engaging the learning community. It offers an array of technology solutions, including Web hosting, content management, information portals, notification, analytics, and virtual storage and related technology solutions.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-11-10 Securus Technologies

Dallas, Texas, United States

Securus Technologies is a provider of specialized telecommunications products and services, including security-enhanced call processing, call validation and billing for the corrections communications marketplace. Securus Technologies was founded in 1986 and is based in Dallas, Texas.

Sell -
SELLER

Riverside Partners

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1989
PE ASSETS 1.0B USD
Size Large
Type Sector Focused
DESCRIPTION

Riverside Partners is a specialist private equity firm focused on investments in healthcare and technology companies located throughout North America. The Firm has a particular interest in companies that are founder or family owned. Target companies are generally profitable with $3 to $15 million of EBITDA. Specific areas of interest within healthcare include suppliers to biopharmaceutical and medical device companies, medical technology and equipment, medical instrumentation, dental products and services, diagnostics and disposables, and specialized healthcare services. Areas of interest within technology include, analytical instrumentation, semiconductor equipment, industrial communications, wireless components, homeland security, and power generation technology. Transaction situations include partial or complete buyouts, recapitalizations, growth equity, divestitures, take privates, and strategic add-ons. Riverside Partners was formed in 1989 and is based in Boston, Massachusetts.


DEAL STATS #
Overall 11 of 33
Sector (Manufacturing) 1 of 3
Type (Add-on Acquisition) 4 of 15
State (New York) 1 of 4
Country (United States) 11 of 33
Year (2011) 4 of 5
Size (of disclosed) 5 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-07-18 Align Networks

Jacksonville, Florida, United States

Align Networks is a provider of physical therapy services for the worker's compensation industry. Align's clients benefit from consistent case management support, improved efficiency, and reduced costs. Align Networks was formed in 2005 and is based in Jacksonville, Florida.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-11-14 IZI Medical

Owings Mills, Maryland, United States

IZI Medical is a developer, manufacturer, and provider of medical consumable accessories used in radiology, radiation therapy, vertebroplasty, and image-guided surgery procedures. IZI has built a diverse portfolio of products backed by strong intellectual property and currently sells to more than 1,000 domestic customers as well as internationally across 25 countries. IZI Medical was formed in 1991 and is based in Owings Mills, Maryland.

Sell $93M