Add-on Acquisition • Building Materials

Tangent Technologies Acquires Bedford Technology

On February 1, 2020, Tangent Technologies acquired building materials company Bedford Technology from Hillcrest Capital Partners

Acquisition Context
  • This is Tangent Technologies’ 1st transaction in the Building Materials sector.
  • This is Tangent Technologies’ 3rd transaction in the United States.
  • This is Tangent Technologies’ 1st transaction in Minnesota.

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M&A Deal Summary

Date February 1, 2020
Target Bedford Technology
Sector Building Materials
Buyer(s) Tangent Technologies
Sellers(s) Hillcrest Capital Partners
Deal Type Add-on Acquisition

Target Company

Bedford Technology

Worthington, Minnesota, United States
Bedford Technology is a manufacturer of recycled plastic products, including lumber, pilings, site furnishings (benches, seats, and tables), signs, and a variety of other products. Bedford Technology was founded in 1998 and is based in Worthington, Minnesota.
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Buyer Overview 1

Buyer

Tangent Technologies

Aurora, Illinois, United States

Category Company
Founded 2003
Sector Plastics
DESCRIPTION

Tangent Technologies is a premier provider of plastic lumber solutions serving the outdoor living market. Tangent manufactures high-density polyethylene (“HDPE”) lumber used for outdoor furniture, site amenities, structural applications, and marine decking. Tangent Technologies was founded in 2003 and is based in Aurora, Illinois.


Deal Context for Buyer #
Overall 3 of 3
Sector: Building Materials 1 of 1
Type: Add-on Acquisition 3 of 3
State: Minnesota 1 of 1
Country: United States 3 of 3
Year: 2020 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-09-20 Home & Leisure

United States

Home & Leisure is a vertically-integrated extruder, fabricator, and assembler of plastic lumber furniture focused on the mass market casual furniture industry.

Buy -

Seller Profile 1

SELLER

Hillcrest Capital Partners

Minneapolis, Minnesota, United States

Investor Investor


Category Private Equity Firm
Founded 2002
Size Small
Type Sector Agnostic
DESCRIPTION

Hillcrest Capital Partners is a Midwest private equity firm focused on lower middle-market acquisitions in the Midwest US. The Firm targets businesses generating sales of $6 to $20 million and EBITDA of $1 to $3 million. Hillcrest typically looks to acquire controlling interests in family-owned businesses or companies where the founder is looking for liquidity. Hillcrest does not have any sector preferences, as long as the market is stable/growing and non-regulated. Hillcrest does not invest in turnarounds or venture investments. Hillcrest Capital was formed in 2002 and is based in Minneapolis, Minnesota.


Deal Context for Seller #
Overall 4 of 4
Sector: Building Materials 1 of 1
Type: Add-on Acquisition 3 of 3
State: Minnesota 3 of 3
Country: United States 4 of 4
Year: 2020 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-10-01 DP Doors & Millwork

Bozeman, Montana, United States

DP Doors & Millwork offers prepped, pre-cut and pre-finished door and trim packages to builders and homeowners primarily in the Gallatin Valley region of Montana. The Company was founded in 2005 and headquartered in Bozeman, Montana.

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