M&A Deal Summary

Stonewood Capital Management and SBC Equity Acquire Tank Services

On December 24, 2008, private equity firms Stonewood Capital Management and SBC Equity acquired chemicals company Tank Services

Acquisition Highlights
  • This is Stonewood Capital Management’s 1st and SBC Equity’s 1st transaction in the Chemicals sector.
  • This is Stonewood Capital Management’s 6th and SBC Equity’s 1st transaction in the United States.
  • This is Stonewood Capital Management’s 1st and SBC Equity’s 1st transaction in Ohio.

M&A Deal Summary
Date 2008-12-24
Target Tank Services
Sector Chemicals
Buyer(s) Stonewood Capital Management
SBC Equity
Deal Type Buyout (LBO, MBO, MBI)
Advisor(s) EdgePoint Capital Advisors (Financial)

Target

Tank Services

Dennison, Ohio, United States
Tank Services is a provider of corrosion protection to items such as tanks, structural steel, poles, piping, heat exchangers, buildings, cranes, equipment, floors, vaults, sumps, pipelines, compressors, and tank batteries. Tank Services was founded in 1972 and is based in Dennison, Ohio.

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Buyer(S) 2

Buyer

Stonewood Capital Management

Pittsburgh, Pennsylvania, United States

Investor Investor Investor

Category Private Equity Firm
Founded 1993
Size Small
Type Sector Agnostic
DESCRIPTION

Stonewood Capital Management is a private equity firm focused on acquisitions of manufacturing, assembly, and distribution companies in the Eastern US. The Firm targets companies with EBITDA of $1 to $10 million. Stonewood Capital Management is based in Pittsburgh, Pennsylvania.

DEAL STATS #
Overall 7 of 13
Sector (Chemicals) 1 of 1
Type (Buyout (LBO, MBO, MBI)) 5 of 9
State (Ohio) 1 of 1
Country (United States) 6 of 12
Year (2008) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2006-03-07 Rita s

Trevose, Pennsylvania, United States

Rita's is an ice and frozen treat franchiser in the world with more than 600 stores. The company is aggressively expanding internationally with operating locations in the Philippines, Canada, and the Middle East. Rita's was founded in 1984 and is based in Trevose, Pennsylvania.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-12-01 Rita s

Trevose, Pennsylvania, United States

Rita's is an ice and frozen treat franchiser in the world with more than 600 stores. The company is aggressively expanding internationally with operating locations in the Philippines, Canada, and the Middle East. Rita's was founded in 1984 and is based in Trevose, Pennsylvania.

Sell -
Buyer

SBC Equity

Pittsburgh, Pennsylvania, United States
Category Private Equity Firm
Size Small
Type Sector Agnostic
DESCRIPTION

SBC Equity Partners is a private equity fund that focuses on growing middle market manufacturing, service, and distribution companies. The Fund seeks to co-invest with Stonewood Capital and Birchmere Capital. SBC looks to invest in companies generating revenue of $5 to $50 million. SBC Equity is based in Pittsburgh, Pennsylvania.

DEAL STATS #
Overall 2 of 3
Sector (Chemicals) 1 of 1
Type (Buyout (LBO, MBO, MBI)) 2 of 2
State (Ohio) 1 of 1
Country (United States) 1 of 2
Year (2008) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
1998-05-01 SAIA-Burgess Controls

Murten, Switzerland

SAIA-Burgess Electronics is a supplier of stepper motors, switches, actuators and electronic controllers. Saia-Burgess Controls has more than 300 employees and serves customers throughout Europe through a network of more than 500 system integrators.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2009-03-25 ReGear Life Sciences

Pittsburgh, Pennsylvania, United States

ReGear Life Sciences, Inc. is a developer and manufacturer of medical devices. ReGear’s ReBound™, a pain management product, is a compact, portable and simple to use heat therapy system generating soothing deep tissue heating.

Buy -
Mergr

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