M&A Deal Summary

Strait Lane Capital Partners Acquires Calling All Ships

On July 31, 2015, private equity firm Strait Lane Capital Partners acquired distribution company Calling All Ships from Gen Cap America and Tenth Street Capital

Acquisition Highlights
  • This is Strait Lane Capital Partners’ 1st transaction in the Distribution sector.
  • This is Strait Lane Capital Partners’ 5th transaction in the United States.
  • This is Strait Lane Capital Partners’ 1st transaction in Florida.

M&A Deal Summary

Date 2015-07-31
Target Calling All Ships
Sector Distribution
Buyer(s) Strait Lane Capital Partners
Sellers(s) Gen Cap America
Tenth Street Capital
Deal Type Secondary Buyout
Advisor(s) Cross Keys Capital (Financial)

Target

Calling All Ships

Miami, Florida, United States
Calling All Ships is a distributor of health and beauty aids, candy, and sundry products to the cruise line industry and other hospitality industries. Calling All Ships was founded in 1986 and is based in Miami, Florida.

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Buyer(S) 1

DESCRIPTION

Strait Lane Capital Partners is a private investment firm focused on acquiring entrepreneur or family-owned companies as well as corporate divestitures. The Firm is operationally oriented and generally pursues US-based, profitable companies with at least $2 million of EBITDA. Areas of interest include manufacturing, business, and technology. Strait Lane Capital Partners was formed in 2009 and is headquartered in Dallas, Texas.


DEAL STATS #
Overall 5 of 10
Sector (Distribution) 1 of 1
Type (Secondary Buyout) 1 of 2
State (Florida) 1 of 2
Country (United States) 5 of 10
Year (2015) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-07-08 Boss Industries

LaPorte, Indiana, United States

Boss Industries is a provider of power take-off (PTO) rotary screw air technology, offering a full line of vehicle-integrated compressors as well as natural gas booster and vapor recovery systems. Boss Industries was founded in 1988 and is based in LaPorte, Indiana.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-10-05 Griswold

Moosup, Connecticut, United States

Griswold is a manufacturer of custom-engineered cellular elastomer and high-performance polyurethane. Griswold’s products and solutions serve a variety of applications in the general industrial, electronics, automotive and consumer markets.

Buy -

Seller(S) 2

SELLER

Gen Cap America

Nashville, Tennessee, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1988
PE ASSETS 250M USD
Size Small
Type Sector Agnostic
DESCRIPTION

Gen Cap America, Inc. is a private investment firm focused on acquisitions and recapitalization of mid-sized businesses. Gen Cap looks to invest in privately held companies or non-core divestitures generating $10 to $200 million in annual revenues. Gen Cap prefers businesses operating in basic industries, such as manufacturing, distribution, and services. The Firm avoids investing in real estate or 'high-tech' businesses. Gen Cap America was formed in 1988 and is based in Nashville, Tennessee.


DEAL STATS #
Overall 11 of 29
Sector (Distribution) 3 of 7
Type (Secondary Buyout) 5 of 9
State (Florida) 2 of 4
Country (United States) 11 of 29
Year (2015) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-02-23 Shape

Addison, Illinois, United States

Shape is a designer and manufacturer of custom magnetic products. Shape specializes in the production of large transformers with rated wattage above 250 watts, which are used in airport lighting, airport security systems, ultraviolet curing, water sanitation, telecom equipment and other niche applications. Shape was founded in 1966 and is based in Addison, Illinois.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-08-17 Canfield Technologies

Sayreville, New Jersey, United States

Canfield Technologies is a manufacturer of solder, pastes and preforms for metal joining, used in the electronics, plumbing and jewellery industries. The Company’s products include fluxes, pastes, alloys and preforms, among others. Canfield sells to customers in a variety of end markets, including plumbing, electronics, stained glass, metal plating, and transportation. Canfield Technologies was founded in 1844 and is based in Sayreville, New Jersey.

Buy $23M
SELLER

Tenth Street Capital

Chattanooga, Tennessee, United States

Investor Investor


Category Mezzanine Finance Firm
Founded 2005
PE ASSETS 500M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Tenth Street Capital is an independent investment firm that seeks to invest in lower middle-market companies operating in a broad range of industries. The Firm provides mezzanine and equity co-investments to profitable businesses with strong market positions and diverse customers. Areas of interest include manufacturing, distribution, and services. Investment proceeds are generally used to support acquisitions, buyouts, and recapitalizations. Tenth Street Capital was formed in 2005 and is based in Chattanooga, Tennessee.


DEAL STATS #
Overall 7 of 21
Sector (Distribution) 1 of 2
Type (Secondary Buyout) 4 of 6
State (Florida) 2 of 3
Country (United States) 7 of 21
Year (2015) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-07-01 DeWayne s Quality Metal Coatings

Lexington, Tennessee, United States

DeWayne’s Quality Metal Coatings is a manufacturer that provides a variety of metal finishing services to customers in the automotive, agricultural equipment, fastener, heavy truck, industrial, appliance, and lawn, and garden equipment industries. DeWayne's Quality Metal Coatings was founded in 1990 and is based in Lexington, Tennessee.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-09-24 Clarke Solutions

Fishers, Indiana, United States

Clarke Solutions is a manufacturing and packaging services provider specializing in Validation and Verification, Project Management & Integration, Operations and Change Management, and Engineering – Subject Matter Expertise including Automation, Packaging, Serialization, and Vision. Clarke Solutions was founded in 1997 and is based in Fishers, Indiana.

Buy -