M&A Deal Summary

Ross Environmental Services Acquires A&D Environmental Services

On May 13, 2015, Ross Environmental Services acquired environmental company A&D Environmental Services from Centerfield Capital Partners, Tillery Capital and Northstar Capital

Acquisition Highlights
  • This is Ross Environmental Services’ 1st transaction in the Environmental sector.
  • This is Ross Environmental Services’ 1st transaction in the United States.
  • This is Ross Environmental Services’ 1st transaction in North Carolina.

M&A Deal Summary
Date 2015-05-13
Target A&D Environmental Services
Sector Environmental
Buyer(s) Ross Environmental Services
Sellers(s) Centerfield Capital Partners
Tillery Capital
Northstar Capital
Deal Type Add-on Acquisition
Advisor(s) Prestwick Partners LLC (Financial)

Target

A&D Environmental Services

High Point, North Carolina, United States
A&D Environmental Services, Inc. is a provider of environmental and industrial service industry providing a full range of industrial, remediation, waste management, transportation and emergency response services.

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Buyer(S) 1

Buyer

Ross Environmental Services

Elyri, Ohio, United States
Category Company
Founded 1949
Sector Environmental
DESCRIPTION

The RossWay Group provides incineration, transportation, recycling and waste management services to manufacturers, recycling firms, waste management providers, and remediation contractors.

DEAL STATS #
Overall 1 of 1
Sector (Environmental) 1 of 1
Type (Add-on Acquisition) 1 of 1
State (North Carolina) 1 of 1
Country (United States) 1 of 1
Year (2015) 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 19 of 42
Sector (Environmental) 1 of 2
Type (Add-on Acquisition) 10 of 21
State (North Carolina) 1 of 3
Country (United States) 19 of 42
Year (2015) 2 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-04-10 RIO Brands

Philadelphia, Pennsylvania, United States

RIO Brands, Inc. is a supplier of outdoor furniture products including beach chairs, backpack chairs, umbrellas, carts, coolers, and patio furniture. RIO Brands was formed in 1947 and is based in Philadelphia, Pennsylvania.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-05-14 Bell Automotive Products

Scottsdale, Arizona, United States

Bell Automotive Products, Inc. is a supplier of automotive convenience accessories, which include air fresheners, drink holders, cargo racks, cell phone accessories, license plate frames, seat and steering wheel covers and other products.

Sell -
SELLER

Tillery Capital

Charlotte, North Carolina, United States

Investor Investor Investor

Category Family Office
Founded 2006
Size Small
Type Sector Agnostic
DESCRIPTION

Tillery Capital is an 'operationally-oriented' private equity firm that invests in and builds lower middle-market companies in partnership with management teams. Tillery makes control equity investments in companies whose annual EBITDA is greater than $2 million. Tillery prefers Southeast US based opportunities, but will consider opportunities across the US. Sectors of interest include agriculture, speciality chemicals, medical products, commercial/industrial services, niche manufacturing, environmental services, healthcare services, and distribution. Tillery Capital was formed in 2006 and has offices in Charlotte and Raleigh, North Carolina, and Indianapolis, Indiana.

DEAL STATS #
Overall 2 of 3
Sector (Environmental) 1 of 1
Type (Add-on Acquisition) 1 of 2
State (North Carolina) 1 of 1
Country (United States) 2 of 3
Year (2015) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-09-26 Derive Systems

Sanford, Florida, United States

Derive Systems, Inc. is a provider of calibration software in the automotive aftermarket industry. SCT’s software recalibrates engine and transmission systems to their optimal settings based on vehicle usage.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-06-30 Alpha-Stim

Wells, Texas, United States

Electromedical Products International, Inc. is a medical device company engaged in the manufacturing and marketing of Alpha-Stim, a handheld, non-invasive device used to treat anxiety, insomnia, depression, and pain. Electromedical Products International was founded in 1981 and is based in Wells, Texas.

Buy -
SELLER

Northstar Capital

Minneapolis, Minnesota, United States

Investor Investor Investor Investor Investor

Category Mezzanine Finance Firm
Founded 1993
PE ASSETS 1.7B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Northstar Capital is a mezzanine finance firm that provides junior capital to middle-market companies operating in the value-added distribution, light manufacturing, business services, financial services, education, and specialty healthcare sectors. Northstar's typical investment size is $5 to $30 million in businesses generating sales of $20 to $300 million with an EBITDA of at least $3 million. Prospective companies have stable cash flows and sustainable margins. Investments typically have maturities of five to eight years. Northstar does not invest in start-ups, real estate development, natural resource exploration, or high technology companies. Northstar Capital was formed in 1993 and is based in Minneapolis, Minnesota.

DEAL STATS #
Overall 28 of 80
Sector (Environmental) 1 of 1
Type (Add-on Acquisition) 10 of 27
State (North Carolina) 1 of 1
Country (United States) 27 of 76
Year (2015) 2 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-04-24 GPA Specialty Substrate Solutions

McCook, Illinois, United States

GPA is a marketer and value-added distributor of specialty printable substrates in North America. The company sells specialty labels, paper, substrates, and films and provides technical knowledge to the printing and graphic arts industry across the country.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-05-29 LA Fitness International

Irvine, California, United States

LA Fitness is a operator of full-service fitness clubs and currently serves over 1,000,000 members in over 275 clubs from New York to California. Clubs range in size from 20,000 to 60,000 square feet and typically offer access to circuit training equipment, free weights, cardiovascular equipment, aerobics programs, swimming pools, whirlpools, saunas and steam rooms, as well as racquetball and basketball courts.

Sell -
Mergr

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