M&A Deal Summary

Salem Investment Partners Acquires DeWayne s Quality Metal Coatings

On July 1, 2015, mezzanine finance firm Salem Investment Partners acquired manufacturer DeWayne s Quality Metal Coatings from Acuity Capital Partners and Tenth Street Capital

Acquisition Highlights
  • This is Salem Investment Partners’ 1st transaction in the Manufacturing sector.
  • This is Salem Investment Partners’ 26th transaction in the United States.
  • This is Salem Investment Partners’ 2nd transaction in Tennessee.

M&A Deal Summary

Date 2015-07-01
Target DeWayne s Quality Metal Coatings
Sector Manufacturing
Buyer(s) Salem Investment Partners
Sellers(s) Acuity Capital Partners
Tenth Street Capital
Deal Type Secondary Buyout

Target

DeWayne s Quality Metal Coatings

Lexington, Tennessee, United States
DeWayne’s Quality Metal Coatings is a manufacturer that provides a variety of metal finishing services to customers in the automotive, agricultural equipment, fastener, heavy truck, industrial, appliance, and lawn, and garden equipment industries. DeWayne's Quality Metal Coatings was founded in 1990 and is based in Lexington, Tennessee.

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Buyer(S) 1

DESCRIPTION

Salem Investment Partners specializes in debt and equity investments in privately-held, middle-market businesses across the Southeast and Mid-Atlantic regions of the US. Salem looks to invest $2 to $10 million per transaction to help support growth, acquisitions, recapitalizations, and buyouts. Sectors of interest include business services, light manufacturing, consumer products, and distribution. Salem Investment Partners was formed in 1999 and is based in Greensboro, North Carolina.


DEAL STATS #
Overall 26 of 58
Sector (Manufacturing) 1 of 1
Type (Secondary Buyout) 3 of 5
State (Tennessee) 2 of 3
Country (United States) 26 of 58
Year (2015) 6 of 10
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-06-01 Century Resources

Columbus, Ohio, United States

Century Resources provides a full-service fundraising program to middle and high school student groups through a 5-Step Plan in order to reach their fundraising goals. Century Resources was established in 1978 and is based in Columbus Ohio.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-07-08 Parker School Uniforms

Houston, Texas, United States

Parker School Uniforms LLC is a provider of premium school uniforms to private and charter schools across the Sunbelt region of the United States including Texas, California, Oklahoma, Kansas, Alabama, Mississippi, Georgia, Tennessee, and Kentucky. Parker School Uniforms was founded in 1931 and is based in Houston, Texas.

Buy -

Seller(S) 2

SELLER

Acuity Capital Partners

Chicago, Illinois, United States

Category Private Equity Firm
Founded 2006
Size Small
Type Sector Agnostic
DESCRIPTION

Acuity Capital Partners is a private investment firm focused on acquiring lower middle-market Midwest US based companies with revenues of at least $5 million. The Firm targets low to mid-technology manufacturing, valued-added distribution, and select service companies. Acuity will only consider control situations and pursues transactions valued from $5 to $50 million. Acuity Capital Partners was formed in 2006 and is located in Chicago, Illinois.


DEAL STATS #
Overall 1 of 2
Sector (Manufacturing) 1 of 1
Type (Secondary Buyout) 1 of 1
State (Tennessee) 1 of 1
Country (United States) 1 of 2
Year (2015) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-05-09 DeWayne s Quality Metal Coatings

Lexington, Tennessee, United States

DeWayne’s Quality Metal Coatings is a manufacturer that provides a variety of metal finishing services to customers in the automotive, agricultural equipment, fastener, heavy truck, industrial, appliance, and lawn, and garden equipment industries. DeWayne's Quality Metal Coatings was founded in 1990 and is based in Lexington, Tennessee.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-08-26 Acme Finishing

Elk Grove Village, Illinois, United States

Acme Finishing is a provider of powder coating, liquid coating, and decorative powder coating to customers competing in the lighting, automotive, fencing, and medical industries among others. Acme Finishing was founded in 1932 and is based in Elk Grove Village, Illinois.

Buy -
SELLER

Tenth Street Capital

Chattanooga, Tennessee, United States

Investor Investor


Category Mezzanine Finance Firm
Founded 2005
PE ASSETS 500M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Tenth Street Capital is an independent investment firm that seeks to invest in lower middle-market companies operating in a broad range of industries. The Firm provides mezzanine and equity co-investments to profitable businesses with strong market positions and diverse customers. Areas of interest include manufacturing, distribution, and services. Investment proceeds are generally used to support acquisitions, buyouts, and recapitalizations. Tenth Street Capital was formed in 2005 and is based in Chattanooga, Tennessee.


DEAL STATS #
Overall 6 of 21
Sector (Manufacturing) 2 of 3
Type (Secondary Buyout) 3 of 6
State (Tennessee) 2 of 4
Country (United States) 6 of 21
Year (2015) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-12-31 Southern Filter Media

Hixson, Tennessee, United States

Southern Filter Media LLC is a manufacturer and distributor of high-quality wet and dry environmental filtration products for application in various industries including aluminum, asphalt, cement, chemicals, foodstuffs, furniture, grain, mining, pharmaceuticals, steel, and woodworking.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-07-31 Calling All Ships

Miami, Florida, United States

Calling All Ships is a distributor of health and beauty aids, candy, and sundry products to the cruise line industry and other hospitality industries. Calling All Ships was founded in 1986 and is based in Miami, Florida.

Sell -