M&A Deal Summary

Stone Pointe and Midwest Mezzanine Funds Acquire Vapor Power International

On April 24, 2014, private equity firm Stone Pointe and mezzanine finance firm Midwest Mezzanine Funds acquired electrical equipment company Vapor Power International

Acquisition Highlights
  • This is Stone Pointe’s 1st and Midwest Mezzanine Funds’ 3rd transaction in the Electrical Equipment sector.
  • This is Stone Pointe’s 4th and Midwest Mezzanine Funds’ 43rd transaction in the United States.
  • This is Stone Pointe’s 2nd and Midwest Mezzanine Funds’ 6th transaction in Illinois.

M&A Deal Summary

Date 2014-04-24
Target Vapor Power International
Sector Electrical Equipment
Buyer(s) Stone Pointe
Midwest Mezzanine Funds
Deal Type Recapitalization
Advisor(s) Capstone Partners (Financial)

Target

Vapor Power International

Franklin Park, Illinois, United States
Vapor Power International is a manufacturer of industrial and commercial steam generators. Vapor offers specialized industrial steam water-tube boilers, electric boilers, and thermal fluid heaters custom-made to order manufacturing processes requiring high-pressure heat/power. Vapor Power International was founded in 1903 and is based in Franklin Park, Illinois.

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Buyer(S) 2

DESCRIPTION

Stone Point is a private equity firm focused on control investments in small to mid-sized profitable companies. Stone Point will consider a variety of transaction situations including recapitalizations, family successions, management buyouts, shareholder liquidity needs, and corporate carve-outs. Sectors of interest include niche manufacturers of industrial or consumer products, service companies with unique offerings, and value-added distribution. Stone Point prefers situations where management remains in place, however this is not required. Stone Point is based in Naperville, Illinois.


DEAL STATS #
Overall 4 of 5
Sector (Electrical Equipment) 1 of 1
Type (Recapitalization) 3 of 3
State (Illinois) 2 of 2
Country (United States) 4 of 5
Year (2014) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-11-16 Prospect Water

Lombard, Illinois, United States

Prospect Water Co. LLC is an independent water solutions platform in the Culligan dealer network, offers a comprehensive suite of water-related products and services — including water equipment, bottled water, water treatment, and equipment installation, maintenance, and repair — to residential and commercial accounts nationwide. Prospect Water was established in 2011 and is based in Lombard, Illinois.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-04-04 American Mortgage Consultants

New York, New York, United States

American Mortgage Consultants, Inc. is a provider nationwide residential and consumer loan due diligence, quality control, securitization review, MSR review, advance assessment, servicing oversight, technology, and consulting services provider. AMC’s market-leading team of mortgage professionals provide customizable solutions to financial institutions nationwide.

Buy -
Buyer

Midwest Mezzanine Funds

Chicago, Illinois, United States

Investor Investor Investor Investor Investor


Category Mezzanine Finance Firm
Founded 1992
PE ASSETS 1.0B USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Midwest Mezzanine Funds (MMF) is a provider of junior capital to lower middle-market, US and Canadian companies. MMF looks to invest $4 to $15 million to support buyouts, acquisition financings, recapitalizations, and growth capital needs. Prospective companies generally have consistent profits ($3 million of EBITDA), low capital intensity, and sustainable competitive advantages. Broad areas of interest include manufacturing, value-added distribution, and services. MMF will not invest in high technology, energy, or real estate. Midwest Mezzanine was formed in 1992 and has offices in Chicago and Monroe, Michigan.


DEAL STATS #
Overall 43 of 81
Sector (Electrical Equipment) 3 of 4
Type (Recapitalization) 10 of 13
State (Illinois) 6 of 8
Country (United States) 43 of 81
Year (2014) 2 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-04-04 Hunter s Specialities

Cedar Rapids, Iowa, United States

Hunter's Specialties is a manufacturer of hunting accessories and has been producing quality products.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-05-01 Packaging Concepts & Design

Troy, Michigan, United States

Packaging Concepts & Design is a provider of design, and delivery of packaging solutions primarily to the automotive industry including OEMs and Tier One suppliers. Packaging Concepts & Design is based in Troy, Michigan.

Buy -