M&A Deal Summary

Sterling Investment Partners Acquires Aurora Parts & Accessories

On September 30, 2015, private equity firm Sterling Investment Partners acquired distribution company Aurora Parts & Accessories from Five Points Capital, Ridgemont Equity Partners and Stellus Capital Management

Acquisition Highlights
  • This is Sterling Investment Partners’ 3rd transaction in the Distribution sector.
  • This is Sterling Investment Partners’ 19th transaction in the United States.
  • This is Sterling Investment Partners’ 1st transaction in Indiana.

M&A Deal Summary

Date 2015-09-30
Target Aurora Parts & Accessories
Sector Distribution
Buyer(s) Sterling Investment Partners
Sellers(s) Five Points Capital
Ridgemont Equity Partners
Stellus Capital Management
Deal Type Secondary Buyout
Advisor(s) BlackArch (Financial)

Target

Aurora Parts & Accessories

Lebanon, Indiana, United States
Aurora Parts & Accessories is a distributor of aftermarket parts and accessories for over-the-road semi-trailers. The Company offers the most complete line of branded and private label parts in the industry, maintaining a comprehensive inventory to serve all makes and models of trailer. Aurora Parts & Accessories is based in Lebanon, Indiana.

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Buyer(S) 1

Buyer

Sterling Investment Partners

Westport, Connecticut, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1991
PE ASSETS 2.9B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Sterling Investment Partners is a private equity firm that seeks investments in middle-market businesses with strong market share and high growth potential. Sterling looks for companies generating revenues of $50 to $500 million and EBITDA of $15 to $50 million. Sectors of interest include outsourcing/business services, niche manufacturing & industrial, transportation & logistics, unique distribution, technology-related, energy services, and consumer products & services. Sterling Investment Partners dates back to 1991 and is based in Westport, Connecticut.


DEAL STATS #
Overall 19 of 31
Sector (Distribution) 3 of 5
Type (Secondary Buyout) 8 of 13
State (Indiana) 1 of 1
Country (United States) 19 of 31
Year (2015) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-06-01 Power Stop

Bedford Park, Illinois, United States

Power Stop is a supplier of performance-upgrade aftermarket brake products with a focus on selling its products online. Power Stop’s products include pads, rotors, calipers, shoes, and pad wear sensors, but the Company is most well-known for its “1-Click Brake Kit”. The Company offers kits and components for a broad range of vehicles, including daily driver, sports car and truck and tow vehicles. Power Stop was founded in 1995 and is based in Bedford Park, Illinois.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-02-02 Ubique Group

Canton, Georgia, United States

Ubique Group is a supplier of value-oriented furniture for residential and commercial use through both wholesale and direct to consumer channels. Selling through its own brand, Flash Furniture, the Company offers over 4,000 unique furniture products, including office chairs, stacking chairs, folding chairs, restaurant furniture and reception furniture. Ubique Group was founded in 2001 and is based in Canton, Georgia.

Buy -

Seller(S) 3

SELLER

Five Points Capital

Winston-Salem, North Carolina, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1997
PE ASSETS 1.3B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Five Points Capital makes both direct private equity and junior capital investments in US-based middle-market companies. Five Points prefers control based investments and will consider opportunities in a variety of industries. For both equity and mezzanine investments, the Firm looks to commit $5 to $25 million of capital in businesses with at least $10 million in sales and $3 million of EBITDA. Five Points Capital was formerly known as BB&T Capital Partners and re-branded in 2015. The Firm was established in 1997 and is based in Winston-Salem, North Carolina.


DEAL STATS #
Overall 22 of 58
Sector (Distribution) 4 of 4
Type (Secondary Buyout) 12 of 26
State (Indiana) 1 of 2
Country (United States) 22 of 58
Year (2015) 3 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-06-30 ASPEQ Heating Group

St. Louis, Mississippi, United States

ASPEQ Heating Group is a provider of custom-configured electric heating and thermal management products to the industrial, commercial, military, marine, and transportation markets. ASPEQ serves a highly diversified customer base and provides over 30 distinct product categories, including immersion and circulation heaters, duct heaters, tubular elements, unit and comfort heaters, and explosion-proof heaters, among others, as well as integrated controls and spare parts. Products are marketed through a multi-channel approach under the longstanding and well-known INDEECO, Heatrex, AccuTherm, and Brasch brands. ASPEQ Heating Group was formed in 2008 and is based in St. Louis, Mississippi.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-10-20 Unishippers Global Logistics

Salt Lake City, Utah, United States

Unishippers Global Logistics is a provider of third party logistics services to small and medium-sized businesses through a network of nearly franchise locations and affiliate outlets. Unishippers Global Logistics is based in Salt Lake City, Utah.

Sell -
SELLER

Ridgemont Equity Partners

Charlotte, North Carolina, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1993
PE ASSETS 7.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Ridgemont Equity Partners is an independent private equity firm specializing in middle-market buy-outs, corporate divestitures, recapitalizations and growth capital investments. The Firm targets to invest in companies located in North America, preferably in US and Canada. REP looks to invest up to $500 million in companies with EBIDTA of $5 - $50 million. The Firm seeks to hold both majority and minority equity interest in portfolio companies. Specific areas of interest include basin industries and services, energy, healthcare, telecommunications, media and technology. Ridgemont Equity Partners is a spun-off of Banc of America Capital Investors (BACI). Ridgemont Equity Partners was formed in August 2010 and is based in Charlotte, North Carolina.


DEAL STATS #
Overall 70 of 91
Sector (Distribution) 4 of 7
Type (Secondary Buyout) 18 of 24
State (Indiana) 2 of 3
Country (United States) 59 of 80
Year (2015) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-12-04 EviCore Healthcare

Bluffton, South Carolina, United States

eviCore offers proven, diversified medical benefits management solutions that help clients reduce costs while increasing quality of care for their members. The company provides these solutions to managed care organizations and risk-bearing provider organizations serving commercial, Medicare, and Medicaid populations. Powered by a team of specialized medical professional resources, extensive evidence-based guidelines, and advanced technologies, eviCore supports clients by ensuring the right evidence-based care is delivered at the right time to the right patient at the right site of care. Flexible medical benefits management solutions are offered in: Radiology; Cardiology; Musculoskeletal; Medical Oncology; Radiation Therapy; Specialty Drug Management; Sleep; Lab Management; and Post-Acute Care. eviCore is proud to help 100 million members receive higher quality, lower cost healthcare.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-10-20 Unishippers Global Logistics

Salt Lake City, Utah, United States

Unishippers Global Logistics is a provider of third party logistics services to small and medium-sized businesses through a network of nearly franchise locations and affiliate outlets. Unishippers Global Logistics is based in Salt Lake City, Utah.

Buy -
SELLER

Stellus Capital Management

Houston, Texas, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2004
PE ASSETS 1.5B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Stellus Capital Management is a provider of debt and equity capital to middle-market companies headquartered throughout the US and Canada. For credit commitments, Stellus looks to provide $10 to $50 million of capital to help support buyouts, acquisitions, recapitalization, growth opportunities, rescue financing, distressed situations, as well as bridge loans. Sectors' of interest for Stellus' credit practice includes business services, energy, general industrial, government, healthcare, software and specialty finance. Stellus' equity practice seeks to provide $30 to $50 million to small and mid-sized energy (upstream, oilfield services, midstream) companies. Stellus Capital was originally formed in 2004 as Laminar Direct Capital and operated as the direct investing unit of D.E. Shaw. The Group became independent in 2012. Stellus has offices in Houston, New York City, and Washington DC.


DEAL STATS #
Overall 2 of 5
Sector (Distribution) 1 of 2
Type (Secondary Buyout) 1 of 2
State (Indiana) 1 of 1
Country (United States) 2 of 5
Year (2015) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-01-30 Eos Fitness

Phoenix, Arizona, United States

Eos Fitness is a fitness club chain combining highly affordable and flexible membership plans with a full range of fitness club amenities, including cardio and strength-training equipment, personal training, group exercise, spinning, cardio theaters, women’s-only rooms, locker rooms, saunas, steam rooms, child care, and 24-hour access. Eos Fitness was formed in 1985 and is based in Phoenix, Arizona.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-12-31 Cars Protection Plus

Murrysville, Pennsylvania, United States

Cars Protection Plus, Inc. is a provider of vehicle service contracts (“VSCs”) to independent and franchise dealerships throughout the United States. Cars Protection Plus was founded in 1998 and is based in Murrysville, Pennsylvania.

Buy -