M&A Deal Summary

Ridge Capital Partners, Tecum Capital and Kayne Anderson Capital Advisors Acquire Whites Energy Services

On January 13, 2015, private equity firm Ridge Capital Partners, private equity firm Tecum Capital and asset manager Kayne Anderson Capital Advisors acquired business services company Whites Energy Services

Acquisition Highlights
  • This is Ridge Capital Partners’ 1st, Tecum Capital’s 4th and Kayne Anderson Capital Advisors’ 2nd transaction in the Business Services sector.
  • This is Ridge Capital Partners’ 9th, Tecum Capital’s 28th and Kayne Anderson Capital Advisors’ 113th transaction in the United States.
  • This is Ridge Capital Partners’ 1st, Tecum Capital’s 1st and Kayne Anderson Capital Advisors’ 12th transaction in Oklahoma.

M&A Deal Summary

Date 2015-01-13
Target Whites Energy Services
Sector Business Services
Buyer(s) Ridge Capital Partners
Tecum Capital
Kayne Anderson Capital Advisors
Deal Type Recapitalization

Target

Whites Energy Services

Woodward, Oklahoma, United States
Whites Energy Services provides rental equipment and drilling-related services to E&P companies in the Marcellus and Utica shales. Whites Energy Services was founded in 2009 and is based in Woodward, Oklahoma.

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Buyer(S) 3

Buyer

Ridge Capital Partners

Middleburg, Virginia, United States

Investor Investor Investor Investor


Category Private Equity Firm
Founded 1992
PE ASSETS 50M USD
Size Small
Type Sector Agnostic
DESCRIPTION

Ridge Capital Partners is a private equity firm that invests in smaller middle-market companies. Ridge seeks to invest $3 to $8 million in businesses with revenues of $15 and $100 million and EBITDA of $2 to $20 million. Ridge primarily looks for opportunities in basic industries. Sectors of interest include business services, chemicals, communications, manufacturing, education, machinery, and healthcare. Prospective transaction situations include recapitalizations, consolidations, buyouts, take-privates, and growth capital financings. Ridge Capital was formed in 1992 and is based outside of Washington, DC.


DEAL STATS #
Overall 10 of 13
Sector: Business Services M&A 1 of 1
Type: Recapitalization M&A Deals 2 of 2
State: Oklahoma M&A 1 of 1
Country: United States M&A 9 of 12
Year: 2015 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-11-01 Pumps and Controls

Arlington, Texas, United States

Pumps and Controls is a wholesale distributor of water treatment equipment and accessories. The company has assigned territories and contracts with several manufacturers of water treatment products that include metering pumps, controllers, filters, and accessories. Pumps and Controls was founded in 1986 and is based in Arlington, Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-11-15 Gent

New York, New York, United States

Gent is a manufacturer and seller of baseball caps, snapbacks, hats and apparels. Gent was founded in 2012 and is based in New York City.

Buy -
Buyer

Tecum Capital

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2005
PE ASSETS 750M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Tecum Capital is a private equity firm focused on lower middle-market companies across the Eastern-US. Tecum will consider a variety of investment situations including leveraged buyouts, management buyouts, successions, strategic acquisitions, growth capital financings, and recapitalizations. Investment sizes range from $5 - $20 million. Industries of interest include manufacturing, plastics, specialty distribution, technology, healthcare services, defense, food, and business/consumer services. Tecum will not consider investments in start-ups or real estate. Tecum Capital was formed in 2005 and is based in Wexford, Pennsylvania.


DEAL STATS #
Overall 28 of 83
Sector: Business Services M&A 4 of 7
Type: Recapitalization M&A Deals 6 of 15
State: Oklahoma M&A 1 of 2
Country: United States M&A 28 of 83
Year: 2015 M&A 1 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-12-05 Powertrack International

Pittsburgh, Pennsylvania, United States

Powertrack International is a provider and distributor of high-performance industrial and hydraulic hose and fittings products. Powertrack International was founded in 1974 and is based in Pittsburgh, Pennsylvania.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-03-03 Convenience Valet

Glendale Heights, Illinois, United States

Convenience Valet is a value-added distributor of blister pack (windowed) branded convenience/travel size health and beauty care products, over-the-counter drugs, personal care products and sundries sold in small-portion packages. Convenience Valet was established in 1946 and is based in Glendale Heights, Illinois.

Buy -
Buyer

Kayne Anderson Capital Advisors

Los Angeles, California, United States

Investor Investor Investor Investor Investor


Category Asset Manager
Founded 1984
PE ASSETS 36.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Kayne Anderson Capital Advisors is an alternative investment management firm focused on hedge funds, public funds, energy private equity, growth private equity, real estate private equity, and mezzanine finance opportunities. Kayne's energy private equity group focuses on $20 to $100 million investments in high-growth exploration and production, midstream and oilfield service companies. The energy group considers both majority or minority stakes in public and private businesses. Kayne's growth private equity practice involves structured investments in public and private companies looking for capital to finance expansion. This group will also consider middle-market leveraged transactions and management buyouts. Kayne's real estate private equity group invests in established, cash-flow generating projects. Areas of interest include student housing and campus-oriented retail properties, amongst other opportunistic investments. The Group looks for acquisitions of $25 to $100 million. Kayne's mezzanine team looks to provide $20 to $35 million of capital for mid-market businesses with $100 to $500 million of sales and $10 to $50 million of EBITDA. Kayne Capital Advisors was formed in 1984 and is based in Los Angeles with additional offices in Armonk, New York; New York City, and Houston.


DEAL STATS #
Overall 124 of 178
Sector: Business Services M&A 2 of 2
Type: Recapitalization M&A Deals 2 of 2
State: Oklahoma M&A 12 of 19
Country: United States M&A 113 of 161
Year: 2015 M&A 4 of 16
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-01-08 Atlas RFID Solutions

Birmingham, Alabama, United States

Atlas RFID Solutions is a developer and marketer of Jovix, an award-winning material control application purpose-built for the capital asset market. Jovix combines web-based server software with mobile and auto-ID technologies to extend access to information to decision-makers in the field, enabling digitization and automation of paper-based data collection processes. Atlas RFID Solutions was founded in 2007 and is based in Birmingham, Alabama.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-01-16 Consero

Austin, Texas, United States

Consero is a software-driven provider of fully outsourced finance and accounting solutions for high-growth SMBs and middle-market enterprises. The Company’s fully-managed financial solution enables companies to quickly and cost-effectively scale their finance function with a high degree of financial transparency and insight. Consero was founded in 2006 and headquartered in Austin, Texas.

Buy -