M&A Deal Summary

Ruud Lighting Acquires E-conolight

On August 17, 2011, Ruud Lighting acquired electrical equipment company E-conolight from Fulton Capital and Merit Capital Partners

Acquisition Highlights
  • This is Ruud Lighting’s 1st transaction in the Electrical Equipment sector.
  • This is Ruud Lighting’s 1st transaction in the United States.
  • This is Ruud Lighting’s 1st transaction in Wisconsin.

M&A Deal Summary
Date 2011-08-17
Target E-conolight
Sector Electrical Equipment
Buyer(s) Ruud Lighting
Sellers(s) Fulton Capital
Merit Capital Partners
Deal Type Add-on Acquisition

Target

E-conolight

Racine, Wisconsin, United States
E-conolight, LLC is a distributor of lighting fixtures and accessories for use primarily in commercial and industrial settings. E-conolight's products include floodlights, linear fluorescent lights, high and low bay lights, exit signs, emergency lights, and other lighting products. E-conolight sells its products through direct-marketing catalogs and its website.

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Buyer(S) 1

Buyer

Ruud Lighting

Racine, Wisconsin, United States
Category Company
Founded 1982
Sector Electrical Equipment
DESCRIPTION

Ruud Lighting,is a manufacturer and worldwide marketer of industrial, commercial and residential lighting fixtures. divisions of Ruud Lighting have developed, manufactured and sold a range of products through various channels in locations throughout Canada, Europe, the Middle East, Africa, Russia, Mexico, Central America, Australia, New Zealand, and Southeast Asia.

DEAL STATS #
Overall 1 of 1
Sector (Electrical Equipment) 1 of 1
Type (Add-on Acquisition) 1 of 1
State (Wisconsin) 1 of 1
Country (United States) 1 of 1
Year (2011) 1 of 1

Seller(S) 2

SELLER

Fulton Capital

Northbrook, Illinois, United States
Category Private Equity Firm
Founded 2003
Size Small
Type Sector Agnostic
DESCRIPTION

Fulton Capital is a private equity firm small to mid-sized companies with revenues between $10 and $100 million. Prospective companies are profitable with a minimum EBITDA of $2 million and up to $10 million. Fulton looks for control investment situations and prefers opportunities located in the US. Sectors of interest include niche manufacturing, logistics, distribution, and service. Fulton Capital is based in Chicago, Illinois.

DEAL STATS #
Overall 3 of 5
Sector (Electrical Equipment) 2 of 3
Type (Add-on Acquisition) 2 of 4
State (Wisconsin) 1 of 1
Country (United States) 3 of 5
Year (2011) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-08-01 Cobra Wire & Cable

Hatboro, Pennsylvania, United States

Cobra Wire & Cable, Inc. is a developer and seller of proprietary wire and cable products that are utilized by customers in a variety of industries. The Company’s products serve niche applications where performance under severe operating conditions is critical to maintaining optimal performance and flexibility.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-01-01 RP Lighting + Fans

Albuquerque, New Mexico, United States

RP Lighting + Fans is a distributor of ceiling fans, electrical wiring devices, and lighting fixtures used predominantly in multi-family housing complexes and other related end markets. Royal Pacific was founded in 1990 and is based in Albuquerque, New Mexico.

Buy -
SELLER

Merit Capital Partners

Chicago, Illinois, United States

Investor Investor Investor Investor Investor

Category Mezzanine Finance Firm
Founded 1993
PE ASSETS 2.2B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Merit Capital Partners is a private investment firm that targets investments in middle market manufacturing, distribution, and service based businesses. Merit looks for companies generating at least $25 million in sales and at least $4 million in EBITDA. Merit can provide both equity and junior capital financing and looks to commit at least $15 million per transaction. Prospective transaction situations include management buyouts, recapitalizations, growth financings, divestitures, unsponsored transactions, and ESOPs. Merit Capital will not invest in start-ups, turnarounds, real estate, specialty retail, or oil/gas opportunities. Merit Capital was originally known as William Blair Mezzanine Capital and became independent in 2004. Merit was formed in 1993 and is based in Chicago, Illinois.

DEAL STATS #
Overall 21 of 52
Sector (Electrical Equipment) 2 of 3
Type (Add-on Acquisition) 9 of 27
State (Wisconsin) 3 of 6
Country (United States) 21 of 51
Year (2011) 4 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-08-01 Cobra Wire & Cable

Hatboro, Pennsylvania, United States

Cobra Wire & Cable, Inc. is a developer and seller of proprietary wire and cable products that are utilized by customers in a variety of industries. The Company’s products serve niche applications where performance under severe operating conditions is critical to maintaining optimal performance and flexibility.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-09-30 Brook Furniture Rental

Lake Forest, Illinois, United States

Brook Furniture Rental primarily rents furniture, accessories and related services to individuals, corporations and small companies in the “rent-to-rent” segment of the furniture rental industry. The “rent-to-rent” segments serve both corporate and individual customers who desire flexibility in meeting their temporary and transitional needs.

Sell -
Mergr

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