M&A Deal Summary

CVF Capital Partners and Skylight Capital Acquire Bonney Plumbing

On April 2, 2008, mezzanine finance firm CVF Capital Partners and private equity firm Skylight Capital acquired business services company Bonney Plumbing

Acquisition Highlights
  • This is CVF Capital Partners’ 2nd and Skylight Capital’s 1st transaction in the Business Services sector.
  • This is CVF Capital Partners’ 7th and Skylight Capital’s 1st transaction in the United States.
  • This is CVF Capital Partners’ 5th and Skylight Capital’s 1st transaction in California.

M&A Deal Summary

Date 2008-04-02
Target Bonney Plumbing
Sector Business Services
Buyer(s) CVF Capital Partners
Skylight Capital
Deal Type Buyout (LBO, MBO, MBI)

Target

Bonney Plumbing

Rancho Cordova, California, United States
Bonney Plumbing is a service and repair plumbing company specializing in providing plumbing electrical, Heating & Air Conditioning, and drains repair services. Bonney Plumbing was founded in 1978 and is based in Rancho Cordova, California.

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Buyer(S) 2

Buyer

CVF Capital Partners

Davis, California, United States

Investor Investor Investor Investor Investor


Category Mezzanine Finance Firm
Founded 2005
PE ASSETS 385M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

CVF Capital Partners is a private investment firm created to provide growth capital for small to mid-sized businesses located in the California Central Valley. CVF looks to commit $5 to $15 million of capital in the form of mezzanine debt to companies with revenues of 5 million, and at least $1 million of cash-flow. CVF funds are generally used to support business expansions, acquisitions, or to refinance. CVF was formed by the principals of Gael Partners. CVF Capital Partners was founded in 2005 and is based in Davis, California.


DEAL STATS #
Overall 7 of 29
Sector: Business Services M&A 2 of 5
Type: Buyout (LBO, MBO, MBI) M&A Deals 4 of 6
State: California M&A 5 of 17
Country: United States M&A 7 of 29
Year: 2008 M&A 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2008-03-31 Source Logistics

The Woodlands, Texas, United States

Source Logistics is a provider of value-added warehousing, distribution and fulfillment third-party logistics (3PL) services. Source Logistics was founded in 1999 and is based in The Woodlands, Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2008-05-01 Mulberry Neckwear

Madison Avenue, New York, United States

Mulberry Neckwear, founded in 1989, designs, manufactures, and distributes neckties throughout the United States. The Company licenses major name brands and sells through department and specialty stores.

Sell -
Buyer

Skylight Capital

Seattle, Washington, United States

Investor


Category Private Equity Firm
Founded 2007
Size Small
Type Sector Agnostic
DESCRIPTION

Skylight Capital is a Seattle-based private equity firm that invests in or acquires companies in the Western US with EBITDA up to $5 million. Investments are generally used to fund full or partial liquidity to entrepreneurs, family members, estates, passive investors, or corporate owners. Skylight will also consider minority investments for growth. Skylight prefers businesses that operate in non-cylical industries with stable/recurring revenues and sustainable margins. Sectors of interest include auto paint distribution, business services, consumer products, direct marketing, document services, education, franchisors/franchises, gaming equipment/services, HR outsourcing, jewelry, non-asset based logistics, specialty retail, vending, and wealth management.


DEAL STATS #
Overall 1 of 5
Sector: Business Services M&A 1 of 5
Type: Buyout (LBO, MBO, MBI) M&A Deals 1 of 1
State: California M&A 1 of 1
Country: United States M&A 1 of 5
Year: 2008 M&A 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2010-03-01 Rocky Mountain Rubber & Supply

Salt Lake City, Utah, United States

Rocky Mountain Rubber is a provider of rubber and urethane coatings to customers in the mining and utility markets. Rocky Mountain Rubber & Supply was founded in 2003 and is based in Salt Lake City, Utah.

Buy -