M&A Deal Summary

RFE Investment Partners, RSTW Partners and Sterling Investment Partners Acquire KAG

On January 26, 2001, private equity firms RFE Investment Partners, RSTW Partners and Sterling Investment Partners acquired transportation company KAG for 176M USD

Acquisition Highlights
  • This is RFE Investment Partners’ 1st, RSTW Partners’ 1st and Sterling Investment Partners’ 1st transaction in the Transportation sector.
  • This is RFE Investment Partners’ , RSTW Partners’ and Sterling Investment Partners’ largest (disclosed) transaction.
  • This is RFE Investment Partners’ 4th, RSTW Partners’ 5th and Sterling Investment Partners’ 3rd transaction in the United States.
  • This is RFE Investment Partners’ 1st, RSTW Partners’ 1st and Sterling Investment Partners’ 1st transaction in Ohio.
Investment Fate
  • KAG was sold to a consortium of financial buyers in 2005.
  • KAG was sold to a consortium of financial buyers in 2010.
  • KAG was sold to a consortium of financial buyers in 2015.

M&A Deal Summary

Date 2001-01-26
Target KAG
Sector Transportation
Buyer(s) RFE Investment Partners
RSTW Partners
Sterling Investment Partners
Deal Type Going Private
Deal Value 176M USD

Target

KAG

North Canton, Ohio, United States
KAG provides transportation and logistics services to the fuel, chemical, liquid food and merchant gas sectors in the U.S. and Canada. KAG was founded in 1997 and is based in North Canton, Ohio.

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Buyer(S) 3

Buyer

RFE Investment Partners

Westport, Connecticut, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1979
Size Large
Type Sector Agnostic
DESCRIPTION

RFE Investment Partners is a private equity firm focused on investing in lower middle-market service, manufacturing and healthcare service businesses. Prospective companies are generally profitable with annual cash-flow of at least $5 million. Target businesses also have proven management, defensible market positions, and 'a clearly identified and growing market'. RFE looks to commit $10 to $35 million of equity capital per transaction to support acquisitions, management led buyouts, and recapitalizations. RFE is licensed as a SBIC and was formed in 1979. RFE Investment Partners is based in New Canaan, Connecticut.


DEAL STATS #
Overall 4 of 29
Sector (Transportation) 1 of 1
Type (Going Private) 1 of 1
State (Ohio) 1 of 1
Country (United States) 4 of 28
Year (2001) 1 of 1
Size (of disclosed) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2000-10-19 Commonwealth Business Media

East Windsor, New Jersey, United States

Commonwealth Business Media, Inc. (CBM) is a provider of dedicated information products and services, including customized and proprietary data, magazines, directories, references, newsletters, and online services, to the international trade and transportation industry of North America. CBM, based in East Windsor, New Jersey, was formed by BP to acquire, from PRIMEDIA, Inc., the assets of the PRIMEDIA Directories Group.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2003-10-07 McKenzie Taxidermy Supply

Granite Quarry, North Carolina, United States

McKenzie Taxidermy Supply is a manufacturer, sculptor, designer, and catalog retailer of taxidermy forms and supplies. McKenzie Taxidermy Supply was founded in 1973 and is based in Granite Quarry, North Carolina.

Buy -
Buyer

RSTW Partners


Category Private Equity Firm
Founded 1989
PE ASSETS 750M USD
Size Large
Type Sector Agnostic
DESCRIPTION

RSTW Partners is a private investment firm focused primarily on providing subordinated debt financing to middle-market companies throughout the continental US. RSTW will consider opportunities in a variety of industries and looks to invest $10 to $30 million per transaction. Prospective companies typically have revenues of $25 million andn operating income of $2.5 million. RSTW will not invest in start-ups, turnarounds, financial services, real estate, or oil/gas exploration. RSTW was formed in 1989 and is based in Houston, Texas.


DEAL STATS #
Overall 5 of 9
Sector (Transportation) 1 of 2
Type (Going Private) 1 of 1
State (Ohio) 1 of 1
Country (United States) 5 of 9
Year (2001) 1 of 2
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2000-06-21 Tekni-Plex

Wayne, Pennsylvania, United States

Tekni-Plex is a globally-integrated company focused on developing and manufacturing innovative packaging materials, medical compounds and precision-crafted medical tubing solutions for some of the most well-known names in the medical, pharmaceutical, personal care, household and industrial, and food and beverage industries. Tekni-Plex was founded in 1967 and is based in Wayne, Pennsylvania.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2001-10-31 Student Transportation of America

Wall Township, New Jersey, United States

Student Transportation of America is a provider of school bus transportation services, operating more than 12,500 vehicles in over 300 school districts. Student Transportation of America was founded in 1997 and is headquartered in Wall Township, New Jersey.

Buy -
Buyer

Sterling Investment Partners

Westport, Connecticut, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1991
PE ASSETS 2.9B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Sterling Investment Partners is a private equity firm that seeks investments in middle-market businesses with strong market share and high growth potential. Sterling looks for companies generating revenues of $50 to $500 million and EBITDA of $15 to $50 million. Sectors of interest include outsourcing/business services, niche manufacturing & industrial, transportation & logistics, unique distribution, technology-related, energy services, and consumer products & services. Sterling Investment Partners dates back to 1991 and is based in Westport, Connecticut.


DEAL STATS #
Overall 3 of 30
Sector (Transportation) 1 of 4
Type (Going Private) 2 of 2
State (Ohio) 1 of 3
Country (United States) 3 of 30
Year (2001) 1 of 1
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2000-05-15 Wilmar Industries

Mount Laurel Township, New Jersey, United States

Wilmar Industries, Inc. is a supplier of home repair and maintenance products, offering more than 15,000 plumbing, electrical, janitorial, hardware, HVAC, appliance, window, and door parts.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2002-09-01 U.S. Shipping Corp

Edison, New Jersey, United States

U.S. Shipping Corp is a provider of long-haul marine transportation services for refined petroleum, petrochemical and commodity chemical products in the U.S. domestic coastwise trade. The Company's existing fleet consists of twelve tank vessels: four integrated tug barge units; one product tanker; three chemical parcel tankers and four ATBs.

Buy -