M&A Deal Summary

Stonebridge Partners and Midwest Mezzanine Funds Acquire Paramount Mechanical

On March 11, 2021, private equity firm Stonebridge Partners and mezzanine finance firm Midwest Mezzanine Funds acquired business services company Paramount Mechanical

Acquisition Highlights
  • This is Stonebridge Partners’ 2nd and Midwest Mezzanine Funds’ 11th transaction in the Business Services sector.
  • This is Stonebridge Partners’ 17th and Midwest Mezzanine Funds’ 76th transaction in the United States.
  • This is Stonebridge Partners’ 1st and Midwest Mezzanine Funds’ 1st transaction in Virginia.

M&A Deal Summary
Date 2021-03-11
Target Paramount Mechanical
Sector Business Services
Buyer(s) Stonebridge Partners
Midwest Mezzanine Funds
Deal Type Recapitalization

Target

Paramount Mechanical

Manassas, Virginia, United States
Paramount Mechanical designs, installs, and services complex Mechanical/HVAC, Electric, and Plumbing systems throughout the Mid-Atlantic and Southeast U.S. markets. Over the years, Paramount has successfully positioned itself as the preferred service and installation provider for owners and facility managers of complex HVAC and mechanical systems. Customers include large industrial and multi-family residential complexes as well as federal, state, and municipal government agencies. Paramount Mechanical was formed in 1989 and is headquartered in Manassas, Virginia.

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Buyer(S) 2

Buyer

Stonebridge Partners

White Plains, New York, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1986
PE ASSETS 900M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Stonebridge Partners is a private equity firm that targets investments in mid-sized privately-owned companies or divisions of public companies primarily serving the industrial or commercial marketplaces. The Firm 'particularly seeks companies where manufacturing equipment, processes, technology, patents, brand identity and/or reputation provide sustainable barriers to entry for potential competitors'. Target sectors include specialty manufacturing, value-added distributors, specialty packaging, building materials, and infrastructure. Stonebridge prefers businesses located in the US and Canada. Stonebridge Partners was formed in 1986 and is based in White Plains, New York.

DEAL STATS #
Overall 18 of 21
Sector (Business Services) 2 of 2
Type (Recapitalization) 6 of 9
State (Virginia) 1 of 1
Country (United States) 17 of 20
Year (2021) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-11-06 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.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-04-01 National Trench Safety

Houston, Texas, United States

National Trench Safety is an independent national provider of trench shoring and safety solutions in the U.S., with a differentiated business model that targets projects requiring a high level of consultative, construction services expertise. National Trench Safety was founded in 2003 and is based in Houston, Texas.

Sell -
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 76 of 81
Sector (Business Services) 11 of 11
Type (Recapitalization) 12 of 13
State (Virginia) 1 of 1
Country (United States) 76 of 81
Year (2021) 1 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-11-16 Vessco

Chanhassen, Minnesota, United States

Vessco, Inc. is a wastewater equipment distributor and value-added service provider in its core territory of the Upper Midwest. Vessco offers its customers an exceptional breadth of products and services with its line card of valued vendors. Vessco provides its products and services in over 18 states. Vessco is based in Chanhassen, Minnesota.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-04-15 Truesdell

Tempe, Arizona, United States

Truesdell is a provider of quality repair, restoration, strengthening, protection, and maintenance of concrete structures. Comprehensive services range from assistance with initial diagnosis to final completion. Truesdell has completed more than 7,000 projects on a wide variety of national and international repair projects ranging from high-rise buildings, nuclear power generating plants, airports, residential projects, water treatment facilities, and a sizeable amount of public agency DOT work. Truesdell was founded in 1975 and is based in Tempe, Arizona.

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