Recapitalization • Building Materials

ShoreView Industries and Northstar Capital Acquire MDC Interior Solutions

On August 31, 2018, private equity firm ShoreView Industries and mezzanine finance firm Northstar Capital acquired building materials company MDC Interior Solutions

Acquisition Context
  • This is ShoreView Industries’ 4th and Northstar Capital’s 3rd transaction in the Building Materials sector.
  • This is ShoreView Industries’ 31st and Northstar Capital’s 86th transaction in the United States.
  • This is ShoreView Industries’ 3rd and Northstar Capital’s 8th transaction in Illinois.
Investment Fate
  • MDC Interior Solutions was sold to a consortium of financial buyers in 2024.

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M&A Deal Summary

Date August 31, 2018
Target MDC Interior Solutions
Sector Building Materials
Buyer(s) ShoreView Industries
Northstar Capital
Deal Type Recapitalization

Target Company

MDC Interior Solutions

Glendale Heights, Illinois, United States
MDC Interior Solutions is a provider of vertical interior surfaces. The Company’s products include vinyl, textile and specialty wall coverings, decorative panels, acoustical solutions, digitally printed surfaces and specialty paints. MDC Interior Solutions was established in 1974 and is based in Glendale Heights, Illinois.
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Buyers Overview 2

Buyer

ShoreView Industries


Category Private Equity Firm
Founded 2002
PE ASSETS 1.3B USD
Size Large
Type Sector Agnostic
DESCRIPTION

ShoreView Industries is a middle-market private investment principally focused on partnering with family or entrepreneurial-owned companies. ShoreView will consider a variety of investment situations, including buyouts, leveraged recapitalizations, minority investments, and industry consolidations. Areas of interest include engineered products, distribution, industrial services, business services, and niche consumer products. ShoreView industries was established in 2002 and is headquartered in Minneapolis, Minnesota.


Deal Context for Buyer #
Overall 32 of 47
Sector: Building Materials 4 of 4
Type: Recapitalization 12 of 14
State: Illinois 3 of 3
Country: United States 31 of 46
Year: 2018 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-08-01 Molded Dimensions

Port Washington, Wisconsin, United States

Molded Dimensions is a provider of precision rubber and urethane components. The Company’s products are used as vital components (seals, gaskets, rollers, wheels) in industrial equipment. Molded Dimensions has a diverse customer base, operating in a wide variety of end markets including marine, water treatment, automotive, trucking, and medical. Molded Dimensions was established in 1954 and is based in Port Washington, Wisconsin.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-09-24 Milamar Coatings

Oklahoma City, Oklahoma, United States

Milamar is a formulator and manufacturer of specialty chemicals with a focus on complex industrial composites, adhesives, and polymer coatings. The Company serves a diverse customer base across a variety of end markets including automotive, marine, aerospace, defense, electronics, floor coatings, construction, and infrastructure repair.

Sell -
Buyer

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 Context for Buyer #
Overall 90 of 121
Sector: Building Materials 3 of 3
Type: Recapitalization 14 of 17
State: Illinois 8 of 11
Country: United States 86 of 116
Year: 2018 5 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-08-01 Molded Dimensions

Port Washington, Wisconsin, United States

Molded Dimensions is a provider of precision rubber and urethane components. The Company’s products are used as vital components (seals, gaskets, rollers, wheels) in industrial equipment. Molded Dimensions has a diverse customer base, operating in a wide variety of end markets including marine, water treatment, automotive, trucking, and medical. Molded Dimensions was established in 1954 and is based in Port Washington, Wisconsin.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-02-01 Frontline Managed Services

Atlanta, Georgia, United States

Frontline Managed Services is a provider of business process outsourcing to the legal and accounting markets. Frontline Managed Services specializes in white glove IT help desk support, IT Managed Services (Development, Infrastructure, Engineering, and Legacy Software Support), Managed Financial Services (e-billing processing, accounts receivable management, and cash application), and training and education through its e-learning platform. Frontline Managed Services was founded in 1987 and is based in Atlanta, Georgia.

Sell -