M&A Deal Summary

StoneCreek Capital Partners, One Rock Capital Partners and Laurel Capital Partners Acquire Kova International

On February 19, 2013, private equity firms StoneCreek Capital Partners, One Rock Capital Partners and Laurel Capital Partners acquired life science company Kova International from Hycor Biomedical

Acquisition Highlights
  • This is StoneCreek Capital Partners’ 1st, One Rock Capital Partners’ 1st and Laurel Capital Partners’ 1st transaction in the Life Science sector.
  • This is StoneCreek Capital Partners’ 3rd, One Rock Capital Partners’ 3rd and Laurel Capital Partners’ 2nd transaction in the United States.
  • This is StoneCreek Capital Partners’ 1st, One Rock Capital Partners’ 1st and Laurel Capital Partners’ 2nd transaction in California.
Investment Fate
  • Kova International was sold to a strategic buyer in 2023.

M&A Deal Summary

Date 2013-02-19
Target Kova International
Sector Life Science
Buyer(s) StoneCreek Capital Partners
One Rock Capital Partners
Laurel Capital Partners
Sellers(s) Hycor Biomedical
Deal Type Divestiture

Target

Kova International

Garden Grove, California, United States
Kova International is a developer, manufacturer, and marketer of in-vitro diagnostic products for the global urinalysis market. Kova International was founded in 1981 and is based in Garden Grove, California.

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Buyer(S) 3

Buyer

StoneCreek Capital Partners

Irvine, California, United States

Investor Investor


Category Private Equity Firm
Founded 1992
Size Small
Type Sector Agnostic
DESCRIPTION

StoneCreek Capital is a private equity firm that targets investments in growth-oriented middle-market companies. Areas of interest include manufacturing (contract, niche), consumer products (branded, automotive accessories, Hispanic oriented), food service (products, services, restaurants), and business services (distribution, transportation, direct marketing/advertising). StoneCreek focuses on US based, with a preference for West Coast based opportunities. The Firm generally looks at transactions with minimum enterprise values of $10 million. Stone Creek can invest both equity and subordinated debt, and has an investment horizon of five to seven years. StoneCreek was formed in 1992 and is based in Irvine, California.


DEAL STATS #
Overall 3 of 7
Sector: Life Science M&A 1 of 1
Type: Divestiture M&A Deals 1 of 1
State: California M&A 1 of 3
Country: United States M&A 3 of 7
Year: 2013 M&A 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-10-01 Ocean State Innovations

Portsmouth, Rhode Island, United States

Ocean State Innovations is specialized in providing textile solutions for such market segments as the military, tactical, commercial, apparel, industrial, and specialty end items. Ocean State Innovations offers a wide range of stock fabrics with the capability of supplying custom solutions, as well. Ocean State Innovations was founded in 1913 and is based in Portsmouth, Rhode Island.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-06-26 Pinnacle Exhibits

Hillsboro, Oregon, United States

Pinnacle Exhibits is a full service provider of custom tradeshow exhibits and Events for large corporate customers with national and global brands. Pinnacle Exhibits was founded in 1998 and is based in Hillsboro, Oregon.

Buy -
Buyer

One Rock Capital Partners

New York, New York, United States

Category Private Equity Firm
Founded 2010
PE ASSETS 9.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

One Rock Capital Partners is a private equity group focused on opportunities where the Firm can leverage its operational, strategic, and financial resources. One Rock seeks investments in mature, North American companies and will also consider distressed situations. Sectors of interest include chemicals, packaging, forest products, consumer appliances/electronics, electrical equipment, niche manufacturing, business services, environmental services, waste management, equipment rental, healthcare products, medical products, and automotive dealerships. One Rock Capital Partners is based in New York City.


DEAL STATS #
Overall 3 of 27
Sector: Life Science M&A 1 of 1
Type: Divestiture M&A Deals 1 of 10
State: California M&A 1 of 2
Country: United States M&A 3 of 24
Year: 2013 M&A 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-12-18 Petroplex

Lovington, New Mexico, United States

Petroplex is a provider of acid stimulation services for energy customers. It also provides proprietary calcium sulfate / paraffin dissolving chemicals such as Petrosol X-25, custom hydrochloric acid blends, anti-sludge systems, and a complete line of other oil field stimulation blends and chemicals. Petroplex was founded in 1981 and is based in Lovington, New Mexico.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-06-12 SummitReheis

Huguenot, New York, United States

SummitReheis is a high quality, high margin specialty chemicals platform that produces a range of critical active ingredients and materials tailored for use in personal care, pharmaceutical and dental products. SummitReheis' anti-perspirant actives business (more than 60 per cent. of its sales) is the global leader in the manufacture and sale of active ingredients for anti-perspirants and has long standing relationships with key consumer product companies across the Americas, Europe and Asia.

Buy $66M
DESCRIPTION

Laurel Capital Partners is a private investment firm focused on growth equity and buyout investments in business services, financial services, healthcare, aviation services, and specialty manufacturing companies located in the Eastern US. Laurel will pursue both control and non-control transactions to provide liquidity to shareholders, financing for management buyouts, and capital for growth. The Firm's target company size is $5 to $50 million in revenue and $1 to $5 million of EBITDA. Laurel Capital Partners was formed in 2007 and is based in Wayne, Pennsylvania.


DEAL STATS #
Overall 2 of 3
Sector: Life Science M&A 1 of 1
Type: Divestiture M&A Deals 1 of 1
State: California M&A 2 of 2
Country: United States M&A 2 of 3
Year: 2013 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-02-01 City Title Loan

Long Beach, California, United States

City Title Loan LLC is a specialty consumer finance company that makes asset-backed loans to individuals. City Title Loan is based in Long Beach, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-03-11 Agilence

Mount Laurel, New Jersey, United States

Agilence is a provider of cloud-based data analytics solutions for retail and food & beverage organizations. Agilence was founded in 2006 and is based in Mount Laurel, New Jersey.

Buy -

Seller(S) 1

SELLER

Hycor Biomedical

Garden Grove, California, United States

Category Company
Founded 1981
Sector Medical Products
DESCRIPTION

Hycor Biomedical, Inc. manufactures and markets high quality diagnostic products used in clinical laboratories throughout the world to test for a range of medical disorders. Hycor Biomedical was founded in 1981 and is based in Garden Grove, California.


DEAL STATS #
Overall 1 of 1
Sector: Life Science M&A 1 of 1
Type: Divestiture M&A Deals 1 of 1
State: California M&A 1 of 1
Country: United States M&A 1 of 1
Year: 2013 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
1984-01-01 Kova International

Garden Grove, California, United States

Kova International is a developer, manufacturer, and marketer of in-vitro diagnostic products for the global urinalysis market. Kova International was founded in 1981 and is based in Garden Grove, California.

Buy -