M&A Deal Summary

Retriev Technologies Acquires Battery Solutions

On March 9, 2022, Retriev Technologies acquired environmental company Battery Solutions from Centerfield Capital Partners, Alston Capital Partners and Alcentra Capital

Acquisition Highlights
  • This is Retriev Technologies’ 1st transaction in the Environmental sector.
  • This is Retriev Technologies’ 1st transaction in the United States.
  • This is Retriev Technologies’ 1st transaction in Michigan.

M&A Deal Summary

Date 2022-03-09
Target Battery Solutions
Sector Environmental
Buyer(s) Retriev Technologies
Sellers(s) Centerfield Capital Partners
Alston Capital Partners
Alcentra Capital
Deal Type Add-on Acquisition

Target

Battery Solutions

Howell, Michigan, United States
Battery Solutions is a provider of battery recycling services to corporations, governments, municipalities, and households. Battery Solutions was founded in 1971 and is based in Howell, Michigan.

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Buyer(S) 1

Buyer

Retriev Technologies

Lancaster, Ohio, United States

Category Company
Founded 1965
Sector Environmental
DESCRIPTION

Retriev Technologies is a battery recycling and management company. Retriev Technologies is based in Lancaster, Ohio.


DEAL STATS #
Overall 1 of 1
Sector (Environmental) 1 of 1
Type (Add-on Acquisition) 1 of 1
State (Michigan) 1 of 1
Country (United States) 1 of 1
Year (2022) 1 of 1

Seller(S) 3

SELLER

Centerfield Capital Partners

Indianapolis, Indiana, United States

Investor Investor Investor Investor Investor


Category Mezzanine Finance Firm
Founded 2001
PE ASSETS 1.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Centerfield Capital Partners is a private investment firm that provides subordinated debt and equity capital to mid-market companies. Prospective transactions include acquisition financings, management buyouts, shareholder liquidity needs, recapitalizations, corporate divestitures, ESOP financings, and sponsored/unsponsored transactions. Centerfield generally invests in companies with sales of $15 to $100 million and EBITDA of $3 to $15 million. Target sectors include manufacturing, business services, healthcare services, and transportation/distribution. Centerfield will not invest in early stage businesses, turnaround situations, retail, real estate, and finance companies. Centerfield Capital Partners was founded in 2001 and is based in Indianapolis, Indiana.


DEAL STATS #
Overall 36 of 42
Sector (Environmental) 2 of 2
Type (Add-on Acquisition) 19 of 21
State (Michigan) 4 of 4
Country (United States) 36 of 42
Year (2022) 1 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-02-07 ASW Partner

Pittsburgh, Pennsylvania, United States

ASW is a wholesale warehouse distributor of automotive allied products to the collision repair value chain. The Company, through its five (5) strategically located warehouses, consolidates 300+ core vendors to offer tens of thousands of unique products, including key automotive product categories such as paint & coatings, abrasives, tools & equipment, tape, painting cups & filters, and primer. ASW was founded in 1978 and is headquartered in Pittsburgh, Pennsylvania.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-09-07 Keystone Foam

Derry, Pennsylvania, United States

Keystone Foam is a fabricator of various foam products and applications that serve the medical, packaging, furniture, and other industries. Keystone Foam was founded in 1983 and is based in Derry, Pennsylvania.

Buy -
SELLER

Alston Capital Partners

New York, New York, United States

Investor Investor


Category Private Equity Firm
Founded 2011
Size Small
Type Sector Agnostic
DESCRIPTION

Alston Capital Partners is a lower middle-market private equity firm focused on investing in specialty manufacturing, environmental, and technology companies. Within specialty manufacturing, Alston looks for market leading, low fixed asset companies that produce high value-added products. Within the environmental sector, Alston targets businesses that reduce waste and improve resource consumption. Alston will consider a variety of transaction situations including buyouts, recapitalizations, divestitures, growth equity, turnarounds and minority investments. The Firm seeks opportunities with $10 to $150 million headquartered throughout the US and Canada. Alston Capital Partners was formed in 2011 and is based in New York City.


DEAL STATS #
Overall 4 of 4
Sector (Environmental) 1 of 1
Type (Add-on Acquisition) 2 of 2
State (Michigan) 1 of 1
Country (United States) 4 of 4
Year (2022) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-12-21 Inframark

Katy, Texas, United States

Inframark is an infrastructure services company focused on the operation and maintenance of water and wastewater systems, management of community infrastructure, and back-office services. With more than 40 years of experience in managing water-related infrastructure, the company employs in excess of 1,500 people serving more than 400 clients in 19 states. Its North American operations manage facilities that can treat over 900 million gallons of drinking water and wastewater daily. It also manages more than 7,000 miles of wastewater collection and water distribution networks. Its infrastructure management services group serves 220 clients with financial, administrative, and specialized support services. Inframark is based in Katy, Texas.

Sell -
SELLER

Alcentra Capital

New York, New York, United States

Investor Investor Investor Investor Investor


Category Mezzanine Finance Firm
Founded 1998
PE ASSETS 540M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Alcentra Capital Corporation is the direct investment arm of asset management firm Alcentra. Alcentra capital looks to provide equity and subordinated debt to middle-market companies throughout North America. The Firm looks to invest $5 to $15 million per transaction in profitable companies with $5 to $15 million of EBITDA. Sectors of interest include healthcare, government services, business services, and defense. Alcentra Capital Corporation was formerly known as BNY Mellon-Alcentra Mezzanine Partners. The Group was originally established in 1998 and is based in New York City.


DEAL STATS #
Overall 39 of 40
Sector (Environmental) 2 of 2
Type (Add-on Acquisition) 18 of 19
State (Michigan) 2 of 2
Country (United States) 38 of 38
Year (2022) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-09-07 Lugano Diamonds & Jewelry

Newport Beach, California, United States

Lugano Diamonds & Jewelry is an international jewelry firm provides jewelry art in addition to being a leading jeweler to the ultra-high net worth clients. Each design is a signature creation by Lugano Diamonds, featuring artistic, one-of-a-kind settings. Lugano Diamonds & Jewelry was established in 1974 and is based in Newport Beach, California.

Sell $256M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-10-11 Fat Face

Havant, United Kingdom

Fat Face retails premium men's, women's and children's clothing and accessories, created by its own in-house design team. Fat Face was founded in 1988 and is based in Havant, United Kingdom.

Sell £100M