M&A Deal Summary

Stanwich Partners and Ironwood Capital Acquire Advanced Recycling Systems

On January 7, 2013, private equity firm Stanwich Partners and growth capital firm Ironwood Capital acquired machinery company Advanced Recycling Systems

Acquisition Highlights
  • This is Stanwich Partners’ 2nd and Ironwood Capital’s 2nd transaction in the Machinery sector.
  • This is Stanwich Partners’ 4th and Ironwood Capital’s 35th transaction in the United States.
  • This is Stanwich Partners’ 1st and Ironwood Capital’s 1st transaction in Ohio.

M&A Deal Summary
Date 2013-01-07
Target Advanced Recycling Systems
Sector Machinery
Buyer(s) Stanwich Partners
Ironwood Capital
Deal Type Buyout (LBO, MBO, MBI)

Target

Advanced Recycling Systems

Lowellville, Ohio, United States
Advanced Recycling Systems is a designer and manufacturer of patented equipment utilized in the collection, recycling, and removal of dust and debris generated in industrial environments. Advanced Recycling Systems was founded in 1991 and is based in Lowellville, Ohio.

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Buyer(S) 2

Buyer

Stanwich Partners

Wilton, Connecticut, United States

Investor

Category Private Equity Firm
Founded 2003
Size Small
Type Sector Agnostic
DESCRIPTION

Stanwich Partners LLC is a private equity firm focused on acquiring small to middle-market manufacturing and value-added distribution companies. Stanwich has a particular interest in family owned companies and corporate divestitures. Stanwich looks for opportunities valued between $5 and $35 million. Target companies typically have annual revenues of $5 to $75 million and at least $1 million of EBITDA. Stanwich prefers businesses located in the Eastern US. Stanwich will not invest in start-ups, real estate, companies dependent on emerging technologies, or significant generators of chemical waste. Stanwich Partners was formed in 1982 and is based in Wilton, Connecticut.

DEAL STATS #
Overall 4 of 4
Sector (Machinery) 2 of 2
Type (Buyout (LBO, MBO, MBI)) 3 of 3
State (Ohio) 1 of 1
Country (United States) 4 of 4
Year (2013) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-09-16 Micro Precision

South Windham, Connecticut, United States

Micro Precision is a tier-one Level 1/Sub-Safe supplier of critical components for the U.S. Navy’s Virginia and Columbia class submarines. Micro Precision was founded in 1981 and is based in South Windham, Connecticut.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-05-26 Solesbee s Equipment & Attachments

Douglasville, Georgia, United States

Solesbee's Equipment & Attachments, Inc. is a manufacturer of attachments for excavators, skid steers, front-end loaders, bull dozers and other equipment. The industry’s most demanding users have relied on Solesbee’s premium attachments since 1997. The Company’s employees are proud of Solesbee’s reputation for quality and durability and are excited to join the Business Area Demolition & Tools division of Lifco to further develop Solesbee’s expertise in design, engineering and manufacturing.

Sell -
Buyer

Ironwood Capital

Avon, Connecticut, United States

Investor Investor Investor Investor Investor

Category Growth Capital Firm
Founded 1986
PE ASSETS 1.0B USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Ironwood Capital is a private investment firm that makes equity and subordinated debt investments in lower middle-market companies. Investment proceeds are generally used to support leveraged buyouts, growth financings, and recapitalizations. Investments typically range from $10 to $40 million in companies generating $20 to $250 million in annual sales. Target sectors include healthcare products/services, value-added manufacturing, business services, consumer products, specialty distribution, and education. Ironwood prefers opportunities East of the Mississippi, but will selectively consider investments in the Western US. The Firm's investment horizon is three to five years. Ironwood Capital was formed in 2002 and is based in Avon, Connecticut.

DEAL STATS #
Overall 35 of 95
Sector (Machinery) 2 of 3
Type (Buyout (LBO, MBO, MBI)) 17 of 28
State (Ohio) 1 of 4
Country (United States) 35 of 95
Year (2013) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-12-15 Morgan Contracting

Knoxville, Tennessee, United States

Morgan Contracting is a construction contractor for water and wastewater infrastructure. MCI’s services include pipeline installation, design/build of wastewater treatment plants and pump stations, and tunneling for local municipalities and water authorities across the United States. Morgan Contracting was established in 1989 and is based in Knoxville, Tennessee.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-08-30 BrandFX

Fort Worth, Texas, United States

BrandFX LLC is a manufacturer and seller of composite utility truck bodies. Products include service bodies designed for smaller utility trucks, line bodies designed for medium-sized utility trucks as well as toppers and inserts designed primarily for compact utility trucks.

Buy -
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