M&A Deal Summary

Valesco Industries, Tecum Capital, Patriot Capital and Brookside Capital Partners Acquire TopDown

On March 7, 2022, private equity firm Valesco Industries, private equity firm Tecum Capital, private equity firm Patriot Capital and mezzanine finance firm Brookside Capital Partners acquired automotive company TopDown from Eagle Private Capital and River Associates

Acquisition Highlights
  • This is Valesco Industries’ 1st, Tecum Capital’s 2nd, Patriot Capital’s 4th and Brookside Capital Partners’ 2nd transaction in the Automotive sector.
  • This is Valesco Industries’ 10th, Tecum Capital’s 71st, Patriot Capital’s 98th and Brookside Capital Partners’ 55th transaction in the United States.
  • This is Valesco Industries’ 1st, Tecum Capital’s 2nd, Patriot Capital’s 11th and Brookside Capital Partners’ 4th transaction in California.

M&A Deal Summary

Date 2022-03-07
Target TopDown
Sector Automotive
Buyer(s) Valesco Industries
Tecum Capital
Patriot Capital
Brookside Capital Partners
Sellers(s) Eagle Private Capital
River Associates
Deal Type Recapitalization

Target

TopDown

North Hollywood, California, United States
TopDown is a designer, manufacturer, and supplier of automotive aftermarket products. TopDown was founded in 1979 and is based in North Hollywood, California.

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Buyer(S) 4

DESCRIPTION

Valesco Industries is a private equity firm focused on growth-oriented small and lower middle-market businesses across the US. Valesco seeks profitable companies with EBITDA of at least $4 million and revenue between $15 and $100 million in the manufacturing, distribution, and business services sectors. The Firm considers both minority and majority positions as well as provides subordinated debt to support owner successions, management buyouts, recapitalizations, and growth financings. Valesco does not invest in start-ups, real estate, financial services, and turnarounds. Valesco Industries was established in 1993 and is headquartered in Dallas, Texas.


DEAL STATS #
Overall 10 of 15
Sector (Automotive) 1 of 1
Type (Recapitalization) 1 of 1
State (California) 1 of 2
Country (United States) 10 of 15
Year (2022) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-12-24 MediaTech

Shelby, Michigan, United States

MediaTech​ offers a broad range of furniture products for the K-12 school market. MediaTech produces seating, tables, desks and storage products used in every school environment. The Company works collaboratively with schools, architects and its dealer partners to help transform ideas into modern learning environments, through the Company's deep design and engineering capabilities and its partnership approach to meet the needs of its customers. MediaTech is based in Shelby, Michigan.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-03-24 Adams

Gonzales, Texas, United States

Adams is a full-service dry and wet flavor manufacturer and distributor of seasonings, spices, panko, extracts, and food coloring. Adams was founded in 1888 and is based in Gonzales, Texas.

Buy -
Buyer

Tecum Capital

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2005
PE ASSETS 750M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Tecum Capital is a private equity firm focused on lower middle-market companies across the Eastern-US. Tecum will consider a variety of investment situations including leveraged buyouts, management buyouts, successions, strategic acquisitions, growth capital financings, and recapitalizations. Investment sizes range from $5 - $20 million. Industries of interest include manufacturing, plastics, specialty distribution, technology, healthcare services, defense, food, and business/consumer services. Tecum will not consider investments in start-ups or real estate. Tecum Capital was formed in 2005 and is based in Wexford, Pennsylvania.


DEAL STATS #
Overall 71 of 82
Sector (Automotive) 2 of 2
Type (Recapitalization) 14 of 15
State (California) 2 of 3
Country (United States) 71 of 82
Year (2022) 3 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-02-10 Custom Computer Specialists

Hauppauge, New York, United States

Custom Computer Specialists is an innovative technology solutions provider. By offering an extensive range of services including the secure transmission of data, dedicated IT support staffing, proactive monitoring, and modern network technologies, our clients improve their competitive advantage, financial performance, and their ability to deliver value. Custom Computer Specialists was founded in 1979 and is based in Hauppauge, New York.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-04-07 Ullman Oil

Chagrin Falls, Ohio, United States

Ullman Oil is a full-service provider and distributor of gasoline, diesel fuel, bio-diesel, home heating oil and lubricants to commercial, industrial, and residential customers. Ullman Oil was established in 1966 and is based in Chagrin Falls, Ohio.

Sell -
Buyer

Patriot Capital

Baltimore, Maryland, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Size Large
Type Sector Agnostic
DESCRIPTION

Patriot Capital is a private investment firm that provides equity and junior capital to support acquisitions, growth capital financings, management buyouts, and recapitalizations of middle-market companies. The Firm looks to invest $5 to $25 million in businesses generating revenues of $10 to $200 million. Areas of interest include business and consumer services, consumer products, niche manufacturing and distribution, education, e-commerce, application software, transportation, and telecom services. Patriot focuses its investment activity with the Mid-Atlantic, Midwest, and Southern areas of the US. Patriot Capital is based in Baltimore, Maryland.


DEAL STATS #
Overall 98 of 108
Sector (Automotive) 4 of 6
Type (Recapitalization) 17 of 19
State (California) 11 of 12
Country (United States) 98 of 108
Year (2022) 3 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-02-15 Mod Op

Miami, Florida, United States

Mod Op is a full-service agency providing brand strategy, advertising, creative development and design, digital marketing, public relations, research, SEO, social media marketing, video production and web development to clients in both the B2C and B2B markets. With offices in New York, Dallas, Los Angeles, Miami, Portland and Panama City, Panama, Mod Op pairs data and innovation with the expertise to best serve clients across the U.S. and Latin America. Mod Op was founded in 2017 and is based in Miami, Florida.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-08-02 ThinkBig Networks

Chestertown, Maryland, United States

ThinkBig Networks is a FTTP (fiber-to-the-premises) internet service provider deploying a state-of-the-art broadband network, for residential and commercial customers, in four counties across the state of Maryland: Harford County, Kent County, Queen Anne’s County and Charles County. ThinkBig Networks was founded in 2016 and is based in Chestertown, Maryland.

Buy -
Buyer
DESCRIPTION

Brookside Capital Partners is an investment management firm focused on stable lower-middle market companies in the US. The Firm typically commits $5 to $30 million per transaction to support buyouts, leveraged recapitalizations, strategic acquisitions and growth. Potential businesses generally have revenue greater than $15 million, and EBITDA of at least $4 million. Industries of interest include business services, consumer, distribution, healthcare, manufacturing, and transportation and logistics. Brookside Capital Partners was established in 2001 and is based in Stamford, Connecticut.


DEAL STATS #
Overall 55 of 65
Sector (Automotive) 2 of 2
Type (Recapitalization) 11 of 12
State (California) 4 of 4
Country (United States) 55 of 65
Year (2022) 4 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-02-18 Porch Swing Company

Oldsmar, Florida, United States

Porch Swing Company is an e-commerce retailer of porch swings and outdoor patio furniture in the U.S. The company’s products are superior-quality, easy-to-assemble, Amish-crafted outdoor furniture, including porch swings, swing beds, gliders, rocking chairs, and more. Porch Swing Company is based in Oldsmar, Florida.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-03-24 Adams

Gonzales, Texas, United States

Adams is a full-service dry and wet flavor manufacturer and distributor of seasonings, spices, panko, extracts, and food coloring. Adams was founded in 1888 and is based in Gonzales, Texas.

Buy -

Seller(S) 2

SELLER

Eagle Private Capital

St. Louis, Missouri, United States

Investor Investor Investor Investor Investor


Category Mezzanine Finance Firm
PE ASSETS 1.0B USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Eagle Private Capital (EPC) makes private equity and mezzanine investments in middle-market companies. The Firm typically invests $4 to $15 million per investment. EPC looks to partner with management or other private equity investors to provide growth or change of control capital. EPC is based in St. Louis, Missouri.


DEAL STATS #
Overall 42 of 49
Sector (Automotive) 1 of 1
Type (Recapitalization) 3 of 4
State (California) 5 of 5
Country (United States) 42 of 49
Year (2022) 2 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-02-16 Imagine Technology Group

Chandler, Arizona, United States

Imagine Technology Group provides document management solutions, workflow improvements, Multi-function devices, VoIP phone systems, digital signage, managed network services, and IT Solutions. Imagine Technology Group was founded in 2011 and is based in Chandler, Arizona.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-07-07 Artifact Uprising

Denver, Colorado, United States

Artifact Uprising is a provider of printed photo products with elevated quality, thoughtful design, and responsibly-sourced materials. Artifact Uprising was founded in 2012 and is based in Denver, Colorado.

Sell -
SELLER

River Associates

Chattanooga, Tennessee, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1989
PE ASSETS 1.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

River Associates is a private equity firm that targets buyouts, divestitures and recapitalizations of lower middle-market companies. River looks for investments in manufacturing, high-margin distribution, industrial services and 'non-faddish' retail companies. The Firm focuses on companies located in the US and Canada with minimum sales of $15 million and EBITDA of $3 to $12 million. River Associates avoids investing in heavily regulated industries as well as start-up, high-technology, commodity or natural resource companies. River Associates was formed in 1989 and is based in Chattanooga, Tennessee.


DEAL STATS #
Overall 23 of 25
Sector (Automotive) 1 of 1
Type (Recapitalization) 1 of 1
State (California) 1 of 1
Country (United States) 22 of 24
Year (2022) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-01-12 Hoskin Scientific

Burnaby, British Columbia, Canada

Hoskin Scientific is a value-added distributor of essential test, measurement, and monitoring equipment serving the environmental, geotechnical, and processing markets throughout Canada. Hoskin Scientific was founded in 1946 and is based in Burnaby, British Columbia.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-03-30 Premier Parking

Nashville, Tennessee, United States

Premier Parking is a provider of parking management solutions for urban, healthcare, hospitality, and mixed-use developments including restaurants, offices, municipal, and special events. The Company’s services include on-site parking management, traffic management, valet and shuttle services, parking enforcement, and parking design and technology consulting services. Premier Parking was established in 2001 and is based in Nashville, Tennessee.

Sell -