M&A Deal Summary

The Edgewater Funds and Bolder Capital Acquire Horsburgh & Scott

On December 5, 2007, private equity firms The Edgewater Funds and Bolder Capital acquired machinery company Horsburgh & Scott

Acquisition Highlights
  • This is The Edgewater Funds’ 2nd and Bolder Capital’s 1st transaction in the Machinery sector.
  • This is The Edgewater Funds’ 19th and Bolder Capital’s 9th transaction in the United States.
  • This is The Edgewater Funds’ 1st and Bolder Capital’s 1st transaction in Ohio.
Investment Fate
  • Horsburgh & Scott was sold to a consortium of financial buyers in 2013.

M&A Deal Summary

Date 2007-12-05
Target Horsburgh & Scott
Sector Machinery
Buyer(s) The Edgewater Funds
Bolder Capital
Deal Type Buyout (LBO, MBO, MBI)

Target

Horsburgh & Scott

Cleveland, Ohio, United States
Horsburgh & Scott is a manufacturer of large diameter industrial gears and custom mechanical gear drives. H&S provides specialized services including heat treatment, technical solutions and on-site customer service. Horsburgh & Scott was founded in 1886 and is based in Cleveland, Ohio.

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Buyer(S) 2

Buyer

The Edgewater Funds

Chicago, Illinois, United States

Category Private Equity Firm
Founded 1991
PE ASSETS 2.8B USD
Size Large
Type Sector Agnostic
DESCRIPTION

The Edgewater Funds is a private equity firm that targets investments in profitable, middle-market growth companies. Target companies typically have revenues of $20 to $500 million in revenue and EBITDA of $5 to $30 million. The Firm will consider minority and control investments in the form of growth capital financings and traditional buyouts. Edgewater looks for North American businesses operating in a variety of industries. Sectors of interest include business services; financial and government services; consumer products and services; healthcare; IT services and software; and industrial/manufacturing. Edgewater was formed in 1991 and is based in Chicago, Illinois.


DEAL STATS #
Overall 20 of 53
Sector: Machinery M&A 2 of 3
Type: Buyout (LBO, MBO, MBI) M&A Deals 18 of 29
State: Ohio M&A 1 of 1
Country: United States M&A 19 of 51
Year: 2007 M&A 8 of 10
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-11-01 BarrierSafe Solutions International

Lake Forest, Illinois, United States

BarrierSafe Solutions International is a provider of barrier protection and infection control products. BarrierSafe owns the FoodHandler and Microflex brands and primarily sells disposable gloves to non-acute markets including foodservice, dental, laboratory, industrial and automotive. BarrierSafe Solutions International is based in Lake Forest, Illinois.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-12-10 American Laser Skincare

Farmington Hills, Michigan, United States

American Laser Skincare is a provider of hair removal and skin rejuvenation services. American Laser Skincare was founded in 2002 and is based in Farmington Hills, Michigan.

Buy -
Buyer

Bolder Capital

Lakewood, Colorado, United States

Category Private Equity Firm
Founded 2004
Size Small
Type Sector Agnostic
DESCRIPTION

Bolder Capital is a private equity group that invests in lower middle-market manufacturing and service oriented businesses. The Group pursues companies operating in growth markets with proprietary products or technologies. Target businesses have at least $2 million of EBITDA with an enterprise value of minimum $500 million. Funds are generally used to support acquisitions/buyouts, recapitalizations and selective growth equity opportunities. Bolder Capital was formed in 2004 and is based in Chicago.


DEAL STATS #
Overall 9 of 15
Sector: Machinery M&A 1 of 1
Type: Buyout (LBO, MBO, MBI) M&A Deals 9 of 14
State: Ohio M&A 1 of 1
Country: United States M&A 9 of 15
Year: 2007 M&A 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-10-04 Mid America Recycling

Des Moines, Iowa, United States

Mid-America Recycling, Inc. (MAR) is a provider in creating and implementing cost-effective, quality-driven recycling programs for recyclers, waste haulers, landfills, municipalities for the recycling of paper and paper-based, aluminum, glass, plastic and other recyclable material.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2010-05-04 Galson Laboratories

East Syracuse, New York, United States

GAL Services, Inc. is a full service provider of analytical air testing services to evaluate and monitor workplace safety.

Buy -