M&A Deal Summary

Reserve Group Acquires Great Lakes Castings

On July 9, 2013, family office Reserve Group acquired manufacturer Great Lakes Castings from Republic Financial

Acquisition Highlights
  • This is Reserve Group’s 2nd transaction in the Manufacturing sector.
  • This is Reserve Group’s 2nd transaction in the United States.
  • This is Reserve Group’s 1st transaction in Michigan.

M&A Deal Summary

Date 2013-07-09
Target Great Lakes Castings
Sector Manufacturing
Buyer(s) Reserve Group
Sellers(s) Republic Financial
Deal Type Secondary Buyout
Advisor(s) Brown Gibbons Lang (BGL) (Financial)

Target

Great Lakes Castings

Ludington, Michigan, United States
Great Lakes Castings is a manufacturer of high-quality gray iron castings for industry-leading customers in the industrial, automotive, HVAC, refrigeration, construction, and manufacturing end markets. The company offers a wide variety of engineering services and other value-added processing including shell core, cold box, annealing, and heat-treating capabilities. Great Lakes Castings was founded in 1945 and is based in Ludington, Michigan.

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Buyer(S) 1

DESCRIPTION

The Reserve Group is a family-backed investment firm focused on acquiring stable mid-sized industrial and manufacturing companies with $20 to $100 million of revenue. The Firm will consider a variety of investment situations including divestitures, buyouts, special situations, and roll-ups and prefers opportunities in the Midwest US. The Reserve Group was formed in 1995 and is headquartered in Akron, Ohio.


DEAL STATS #
Overall 2 of 2
Sector: Manufacturing M&A 2 of 2
Type: Secondary Buyout M&A Deals 1 of 1
State: Michigan M&A 1 of 1
Country: United States M&A 2 of 2
Year: 2013 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-04-10 Lee Brass

Anniston, Alabama, United States

Lee Brass is a manufacturer of producing parts utilizing low lead alloys for original equipment manufacturer customers. Lee Brass was formed in 1917 and is based in Anniston, Alabama.

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Seller(S) 1

SELLER

Republic Financial

Denver, Colorado, United States

Investor Investor Investor Investor


Category Distressed Investor
Founded 1971
PE ASSETS 1.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Republic Financial Corporation is a private investment company split amongst aviation leasing, special assets (debt purchases), and principal investing. The Principal Investing group targets smaller company buyouts and growth capital investments in a diverse range of sectors. Republic looks to invest $2 to $8 million in growth-oriented companies with EBITDA of $2 to $5 million. Sectors of interest include aviation/aerospace, security software, telecommunications, data services, corporate staffing, and construction. Republic Financial Corporation was formed in 1971 and is based in Aurora, Colorado.


DEAL STATS #
Overall 3 of 5
Sector: Manufacturing M&A 2 of 3
Type: Secondary Buyout M&A Deals 1 of 1
State: Michigan M&A 1 of 1
Country: United States M&A 3 of 5
Year: 2013 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-08-01 Griffith Enterprises

Cottonwood, Arizona, United States

Griffith Enterprises, LLC is a proivder of aerospace systems and components manufacturer specializing in the production of mission-critical interconnect systems, harnesses, electro-mechanical components, and ground support equipment for the aerospace, defense, and aviation industries.

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FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-01-01 CeDUR

Aurora, Colorado, United States

CeDUR manufactures high performance synthetic roofing products designed to combine the desirable cedar shake look with the latest in design and technology. These shakes have been developed to resist nature's harsh fire, hail, wind, and UV conditions while reproducing the enduring beauty of natural wood. CeDUR was founded in 2015 and is based in Aurora, Colorado.

Buy -