M&A Deal Summary

TerraMar Capital and Trive Capital Acquire East West Copolymer

On February 17, 2016, private equity firms TerraMar Capital and Trive Capital acquired chemicals company East West Copolymer from Main Street Capital

Acquisition Highlights
  • This is TerraMar Capital’s 1st and Trive Capital’s 2nd transaction in the Chemicals sector.
  • This is TerraMar Capital’s 1st and Trive Capital’s 15th transaction in the United States.
  • This is TerraMar Capital’s 1st and Trive Capital’s 1st transaction in Louisiana.
Investment Fate
  • East West Copolymer went bankrupt in 2017.
  • East West Copolymer was sold to a strategic buyer in 2017.

M&A Deal Summary

Date 2016-02-17
Target East West Copolymer
Sector Chemicals
Buyer(s) TerraMar Capital
Trive Capital
Sellers(s) Main Street Capital
Deal Type Secondary Buyout

Target

East West Copolymer

Baton Rouge, Louisiana, United States
East West Copolymer LLC is a manufacturer and supplier of synthetic rubber to a broad base of customers across the industrial and tire markets. East West Copolymer is based in Baton Rouge, Louisiana.

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Buyer(S) 2

DESCRIPTION

TerraMar Capital is a private investment group focused on providing debt and equity capital to middle-market companies. The Firm has a specialist interest in situations where companies are facing an 'inflection point'. TerraMar Capital was founded in 2015 and is based in Los Angeles, California.


DEAL STATS #
Overall 1 of 3
Sector (Chemicals) 1 of 1
Type (Secondary Buyout) 1 of 1
State (Louisiana) 1 of 1
Country (United States) 1 of 3
Year (2016) 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-04-04 East West Copolymer

Baton Rouge, Louisiana, United States

East West Copolymer LLC is a manufacturer and supplier of synthetic rubber to a broad base of customers across the industrial and tire markets. East West Copolymer is based in Baton Rouge, Louisiana.

Sell -
Buyer

Trive Capital

Dallas, Texas, United States


Category Private Equity Firm
Founded 2012
PE ASSETS 7.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Trive Capital is a hands-on, operationally-focused private equity firm that targets complex or special situations in 'out of favor' but protected market niches. The Firm will consider businesses throughout North America offering differentiated products/services with leading/defensible industry positions. Trive looks to commit $10 to $300 million per investment in businesses generating revenues of $40 million to $1.5 billion. Sectors of interest include automotive, transportation, aerospace/defense, building products, construction, infrastructure, healthcare, manufacturing, industrial, chemicals, distribution, consumer goods, energy services, business services, and communications. Trive Capital was founded in 2012 and is based in Dallas, Texas.


DEAL STATS #
Overall 16 of 55
Sector (Chemicals) 2 of 2
Type (Secondary Buyout) 3 of 5
State (Louisiana) 1 of 1
Country (United States) 15 of 51
Year (2016) 1 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-09-02 Huron

Lexington, Michigan, United States

Huron is a manufacturer of value-added precision components, primarily bar-turned products and tubular assemblies that are used in automotive engine, transmission, fuel and climate control systems. Huron was founded in 1943 and is based in Lexington, Michigan.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-03-29 Iowa Northern Railway

Waterloo, Iowa, United States

Iowa Northern Railway is a short line railroad. The Company operates over 250 miles of rail in northeastern Iowa, with a main line track running from Manly to Cedar Rapids (through Waterloo/Cedar Falls) as well as several branch lines that connect to the main track. The Company provides transportation to customers in agriculture, energy, and manufacturing and offers value-add services to Class I railroads. Iowa Northern Railway was established in 1984 and is based in Waterloo, Iowa.

Buy -

Seller(S) 1

SELLER

Main Street Capital

Houston, Texas, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1997
PE ASSETS 3.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Main Street Capital Holdings is a public investment firm that invests in mid-market companies to support ownership transitions, recapitalizations, strategic acquisitions, business expansion and other growth initiatives. Main Street looks for businesses opearting in basic industries with positive cash-flow and and defensible competitive advantages. Main Street generally invests $5 to $75 million in companies with $10 to $150 million of revenue and EBITDA of $3 to $20 million. Investments are usually in the form of term debt and/or direct equity. Main Street Capital Corporation was formed in 1997 and is based in Houston, Texas.


DEAL STATS #
Overall 23 of 45
Sector (Chemicals) 1 of 1
Type (Secondary Buyout) 6 of 11
State (Louisiana) 3 of 3
Country (United States) 23 of 45
Year (2016) 2 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-01-20 Southern RV

Bossier City, Louisiana, United States

Southern RV, LLC (“Southern RV”) is a four-location dealer of new and used recreational vehicles that also engages in financing, parts sales and RV services with facilities in Tyler, TX, Bossier City, LA, and Lafayette, LA.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-04-06 SambaSafety

Greenwood Village, Colorado, United States

SambaSafety is a provider of Driver Risk Management (DRM) services and Motor Vehicle Records (MVRs) to every industry across the United States. SambaSafety’s innovative Software as a Service (SaaS) solutions provide driver risk technology and information to employers, insurance, background screeners and fleet management companies. This enables companies with commercial and non-commercial fleets to easily identify and address unsafe driving behavior and take the appropriate actions necessary to maintain the safety of drivers, passengers and the communities in which they live and work. Additionally, SambaSafety solutions provide the insights insurance carriers need to accurately price risk throughout the policy lifecycle. SambaSafety was founded in 1998 and is based in Greenwood Village, Colorado.

Sell -