M&A Deal Summary

Remet Acquires Calwax

On November 14, 2007, Remet acquired consumer products company Calwax from Buckingham Capital Partners and Pegasus Capital Group

Acquisition Highlights
  • This is Remet’s 1st transaction in the Consumer Products sector.
  • This is Remet’s 1st transaction in the United States.
  • This is Remet’s 1st transaction in California.

M&A Deal Summary

Date 2007-11-14
Target Calwax
Sector Consumer Products
Buyer(s) Remet
Sellers(s) Buckingham Capital Partners
Pegasus Capital Group
Deal Type Add-on Acquisition

Target

Calwax

Irwindale, California, United States
Calwax is a blender and wholesale distributor of wax and wax products for a broad range of industrial and commercial uses. The company provides custom wax applications to domestic and international companies in a number of niche markets, including candle, cosmetic, casting, dental, wine and packaging.

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Buyer(S) 1

Buyer

Remet

Utica, New York, United States

Category Company
Founded 1970
Sector Chemicals
DESCRIPTION

Remet, the management of Remet Corporation, the leading supplier of manufactured wax and specialty chemical products serving the precision investment casting industry, was seeking to purchase this division from Foseco International, its parent corporation. Remet owns and operates four manufacturing plants and has over 40 distribution centers worldwide generating over $50 million in worldwide revenue.


DEAL STATS #
Overall 1 of 1
Sector: Consumer Products M&A 1 of 1
Type: Add-on Acquisition M&A Deals 1 of 1
State: California M&A 1 of 1
Country: United States M&A 1 of 1
Year: 2007 M&A 1 of 1

Seller(S) 2

SELLER

Buckingham Capital Partners

New York, New York, United States

Category Private Equity Firm
Founded 2004
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Buckingham Capital Partners is a private investment firm specializing in leveraged buyouts and recapitalizations of middle-market industrial and manufacturing companies. Buckingham looks to makes control equity investments of $2 to $15 million in companies valued up to $100 million. Buckingham prefers to invest in companies headquartered in the US. Prospective businesses generally have stable cash-flows and are strong competitors in the markets they serve. Buckingham Partners was formed in 2003 and is based in New York City.


DEAL STATS #
Overall 1 of 6
Sector: Consumer Products M&A 1 of 1
Type: Add-on Acquisition M&A Deals 1 of 2
State: California M&A 1 of 1
Country: United States M&A 1 of 6
Year: 2007 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-06-17 VanDeMark

Lockport, New York, United States

VanDeMark is a provider of specialty and custom chemicals focusing on phosgene production and phosgene-related chemistry. These products are used in pharmaceuticals, agricultural chemicals, polymers, sealants, coatings, and biocides. VanDeMark was founded in 1951 and is based in Lockport, New York.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2008-07-01 Aspect Automation

Saint Paul, Minnesota, United States

Aspect Automation, LLC formerly known as – Remmele Engineering’s Automation Division is a recognized leader in the design and build of custom automation solutions and related engineering services. The Company employs over 100 people in their Saint Paul, Minnesota facility.

Buy -
SELLER

Pegasus Capital Group

Santa Monica, California, United States

Category Private Equity Firm
Founded 1997
Size Small
Type Sector Agnostic
DESCRIPTION

Pegasus Capital Group is a private investment firm that acquires established, profitable, growth-oriented businesses in non-technology intensive industries. Pegasus has a particular interest in niche-manufacturing, but will also consider value-added distribution and specialty service companies. The Firm prefers North American opportunities. Prospective companies typically have revenues of $5 to $75 million and EBITDA of at least $2 million. Pegasus avoids investing in start-ups, early-stage ventures, technology-driven companies, or minority investments. Pegasus Capital Group was formed in 1997 and is located in Los Angeles, California.


DEAL STATS #
Overall 2 of 10
Sector: Consumer Products M&A 1 of 1
Type: Add-on Acquisition M&A Deals 1 of 5
State: California M&A 1 of 3
Country: United States M&A 2 of 10
Year: 2007 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2006-12-01 TOG Manufacturing Company

North Adams, Massachusetts, United States

TOG is a contract manufacturer of high precision metal and alloy parts for the power generation market and the nuclear submarine market.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2008-04-03 Ajax Rolled Ring & Machine

York, South Carolina, United States

Ajax Rolled Ring & Machine is a manufacturer of seamless rolled rings. Ajax provides heat treating, machining, and shot blasting of the forged rings. The rings are consumed in various global end markets, including mining, construction, oil and gas, and power generation. Ajax Rolled Ring & Machine was founded in 1956 and is based in York, South Carolina.

Buy -