M&A Deal Summary

Speyside Equity and Beckner Clevy Partners Acquire Dalton

On May 2, 2016, private equity firms Speyside Equity and Beckner Clevy Partners acquired manufacturer Dalton from Neenah Enterprises

Acquisition Highlights
  • This is Speyside Equity’s 2nd and Beckner Clevy Partners’ 1st transaction in the Manufacturing sector.
  • This is Speyside Equity’s 7th and Beckner Clevy Partners’ 2nd transaction in the United States.
  • This is Speyside Equity’s 1st and Beckner Clevy Partners’ 1st transaction in Indiana.

M&A Deal Summary
Date 2016-05-02
Target Dalton
Sector Manufacturing
Buyer(s) Speyside Equity
Beckner Clevy Partners
Sellers(s) Neenah Enterprises
Deal Type Divestiture

Target

Dalton

Warsaw, Indiana, United States
Dalton is a producer of complex, heavily-cored gray iron castings. Dalton's products are used in critical applications in the HVAC, power transmission, engine, and heavy truck markets, serving a blue chip customer base including United Technologies, Caterpillar, General Motors and John Deere. Dalton was founded in 1910 in Warsaw, Indiana.

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Buyer(S) 2

Buyer

Speyside Equity

Ann Arbor, Michigan, United States

Investor Investor

Category Private Equity Firm
Founded 2005
Size Small
Type Sector Agnostic
DESCRIPTION

Speyside Equity is a private equity firm focused on investments in traditional businesses with a history of profitability. Speyside generally looks for non-core divestitures from multinational businesses and will consider opportunities in the specialty chemicals, food/ingredients, and metal forming sectors. The Firm's geographic coverage includes North America and Western Europe. Speyside Equity was established in 2005 and is headquartered in Ann Arbor, Michigan.

DEAL STATS #
Overall 10 of 18
Sector (Manufacturing) 2 of 6
Type (Divestiture) 4 of 5
State (Indiana) 1 of 1
Country (United States) 7 of 13
Year (2016) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-02-15 Oxxynova

Steyerberg, Germany

Oxxynova is a mid-sized chemical company that specializes in the production and marketing of liquid dimethyl terephthalate (DMT). As the leading manufacturer in Europe, Oxxynova continues to innovate DMT and related xylol-derivative products. DMT is used in many everyday products, including seat belts, food packaging, tarps, and medical devices. Recently, the Company has developed a second business lined geared toward re-purification of chemicals.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-08-17 United Initiators

Pullach, Germany

United Initiators is a global manufacturer of peroxides, persulfates and other specialty initiators. United Initiators’ products comprise organic peroxides, persulfates, hydrogen peroxide and speciality chemicals, which have a wide range of applications including the production of acrylics and latex polymers, paint, plastics, bleaching agents, denture cleaners, teeth whiteners and disinfectants.

Sell -
Buyer

Beckner Clevy Partners

Category Private Equity Firm
Size Small
Type Sector Focused
DESCRIPTION

Beckner Clevy Partners is a private investment firm focused on acquiring lower middle-market industrial companies. The Firm will consider opportunities throughout North America with $25 to $150 million of revenue and up to $10 million of EBITDA. Beckner Clevy Partners is based in Nashville, Tennessee.

DEAL STATS #
Overall 2 of 3
Sector (Manufacturing) 1 of 1
Type (Divestiture) 1 of 1
State (Indiana) 1 of 1
Country (United States) 2 of 3
Year (2016) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-08-22 ProTech

Vancouver, Washington, United States

ProTech is a manufacturer of aftermarket truck accessories, such as cab racks, toolboxes, fenders, and storage boxes, for the heavy- and light-truck markets. ProTech was founded in 1980 and is based in Vancouver, Washington.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-02-20 IHP

Nashville, Tennessee, United States

Innovative Hearth Products is a manufacturer of indoor and outdoor fireplaces, fireplace inserts, free-standing stoves, gas log sets, venting products and accessories for the specialty retail, residential new construction and industrial markets. Based in Nashville, Tenn. IHP operates manufacturing facilities in Russellville, Ala., Santa Ana, Calif. and Auburn, Wash.

Buy -

Seller(S) 1

SELLER

Neenah Enterprises

Neenah, Wisconsin, United States
Category Company
Founded 1872
Sector Manufacturing
Revenue 470M USD (2011)
DESCRIPTION

Neenah Enterprises is a producer of casting, forging, machining and assembly of key component parts for agriculture, construction, HVAC and a host of other industries. Neenah Enterprises was founded in 1872 and is based in Neenah, Wisconsin.

DEAL STATS #
Overall 1 of 1
Sector (Manufacturing) 1 of 1
Type (Divestiture) 1 of 1
State (Indiana) 1 of 1
Country (United States) 1 of 1
Year (2016) 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-07-20 Grede Holdings - Advanced Cast Products Business

Meadville, Pennsylvania, United States

Grede Holdings' Advanced Cast Products Business is a producer of the engineered cast and machined iron components. Grede Holdings' Advanced Cast Products Business is based in Meadville, Pennsylvania.

Buy -
Mergr

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