M&A Deal Summary

The QUIKRETE Companies Acquires Contech Engineered Solutions

On November 15, 2016, The QUIKRETE Companies acquired engineering company Contech Engineered Solutions from Littlejohn, Anchorage Capital Partners, Tennenbaum Capital Partners and Farallon Capital Management

Acquisition Highlights
  • This is The QUIKRETE Companies’ 1st transaction in the Engineering sector.
  • This is The QUIKRETE Companies’ 1st transaction in the United States.
  • This is The QUIKRETE Companies’ 1st transaction in Ohio.

M&A Deal Summary

Date 2016-11-15
Target Contech Engineered Solutions
Sector Engineering
Buyer(s) The QUIKRETE Companies
Sellers(s) Littlejohn
Anchorage Capital Partners
Tennenbaum Capital Partners
Farallon Capital Management
Deal Type Add-on Acquisition

Target

Contech Engineered Solutions

West Chester, Ohio, United States
Contech Engineered Solutions is a provider of engineering and site solutions for the residential, commercial and infrastructure markets. The company's primary end markets are the US infrastructure, commercial and residential construction markets. Contech Engineered Solutions was formed in 1986 and is based in West Chester, Ohio.

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Buyer(S) 1

Buyer

The QUIKRETE Companies

Atlanta, Georgia, United States

Category Company
Sector Construction
DESCRIPTION

The QUIKRETE Companies, Inc. manufactures packaged concrete for commercial building and home improvement industries in the United States.


DEAL STATS #
Overall 1 of 3
Sector (Engineering) 1 of 1
Type (Add-on Acquisition) 1 of 2
State (Ohio) 1 of 1
Country (United States) 1 of 3
Year (2016) 1 of 2
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-11-28 CEMEX - Reinforced Concrete Pipe Manufacturing Business

United States

CEMEX - Reinforced Concrete Pipe Manufacturing Business produces and supplies concrete pipe, box, and other pipe products in the United States.

Buy $540M

Seller(S) 4

SELLER

Littlejohn

Greenwich, Connecticut, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1996
PE ASSETS 7.8B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Littlejohn is a private equity firm that makes control investments in mid-sized companies undergoing change; either in capital structure, strategy, operations, or growth. Littlejohn looks to commit $50 to $250 million of equity, mezzanine, or credit capital in companies with annual revenues of $100 to $800 million. Sectors of interest include industrial equipment, packaging, chemicals, automotive and transportation parts and equipment, food and food processing, healthcare, plastics, aerospace/defense, distribution, environmental and infrastructure services, and consumer products. The Firm avoids investing in real estate, fashion, retail, and businesses engaged in high technology. Littlejohn prefers opportunities located in the US, but also considers opportunities in Europe and Canada. Littlejohn was formed in 1996 and is based in Greenwich, Connecticut.


DEAL STATS #
Overall 27 of 48
Sector (Engineering) 1 of 1
Type (Add-on Acquisition) 12 of 22
State (Ohio) 4 of 4
Country (United States) 23 of 44
Year (2016) 3 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-10-12 Stallion

Houston, Texas, United States

Stallion provides a broad suite of oil and gas wellsite support services to exploration and production companies, drilling contractors, and pipeline companies throughout the United States. Stallion is based in Houston, Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-12-19 Brown Jordan

St. Augustine, Florida, United States

Brown Jordan is a designer, manufacturer and marketer of quality home furnishings and contract furnishings, selling a full range of products. Brown Jordan International offers innovative designs, superior quality, efficient production methods and a strong portfolio of recognized brands including Brown Jordan, Winston, Casual Living Worldwide, Charter, Tropitone and Texacraft. Brown Jordan is based in St. Augustine, Florida.

Buy -
SELLER

Anchorage Capital Partners

Sydney, Australia

Investor Investor Investor Investor


Category Private Equity Firm
Founded 2008
PE ASSETS 810M AUD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Anchorage Capital Partners is a specialized private equity firm that focuses on control investments in established businesses with a strong market position or brand which are not performing at their full potential, often as a result of capital constraints, lack of management attention or being a non-core ‘orphan’ in a large corporate. Target companies generally have at least A$100 million of revenue and are valued up to A$250 million. Anchorage will consider companies in a variety of sectors, however, the Firm avoids investing in technology, direct real estate or mineral exploration. The Firm will consider opportunities throughout Australia, New Zealand, and Southeast Asia. Anchorage Capital Partners was established in 2008 and is based in Sydney.


DEAL STATS #
Overall 7 of 15
Sector (Engineering) 1 of 1
Type (Add-on Acquisition) 3 of 7
State (Ohio) 1 of 1
Country (United States) 2 of 2
Year (2016) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-02-10 Hampton Roads Bankshares

Virginia Beach, Virginia, United States

Hampton Roads Bankshares, Inc. operates as the bank holding company for Bank of Hampton Roads (BOHR) and Shore Bank that provide community and commercial banking services primarily to individuals and small to medium-sized businesses.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-09-01 TJS Services Group

Sydney, Australia

TJS Services Group is a provider of facilities maintenance and cleaning services for customers across Australia. The business provides services to customers in the government, hospitality, education, healthcare, corporate and entertainment sectors. TJS directly employs over 400 staff and is headquartered in Sydney, Australia.

Buy -
SELLER

Tennenbaum Capital Partners

Santa Monica, California, United States

Category Asset Manager
Founded 1999
PE ASSETS 18.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION
Tennenbaum Capital Partners' headquarters in Santa Monica, California.
Tennenbaum Capital Partners' headquarters in Santa Monica, California.

Tennenbaum Capital Partners is a private investment group focused on providing financing solutions to middle-market companies in a variety of sectors. The Firm separates its activity into two segments - performing and distressed. The performing group looks to invest $10 to $125 million to support recapitalizations, LBOs, acquisitions, and growth capital needs of companies valued between $100 million and $1.5 billion. The special situations group looks to provide $20 to $125 million to support rescue needs, as well as fund complex situations or secondary market purchases. Tennenbaum primarily considers opportunities in North America and Europe, but will consider other geographies. Tennenbaum Capital Partners was formed in 1999 and is based in Santa Monica, California.


DEAL STATS #
Overall 6 of 9
Sector (Engineering) 1 of 1
Type (Add-on Acquisition) 3 of 5
State (Ohio) 1 of 1
Country (United States) 5 of 8
Year (2016) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-03-09 Novanta

Bedford, Massachusetts, United States

Novanta is a provider of core technology solutions that give medical and advanced industrial original equipment manufacturers a competitive advantage. The Company combines deep proprietary technology expertise and competencies in precision medicine and manufacturing, medical solutions, and robotics and automation with a proven ability to solve complex technical challenges. Novanta was founded in 1968 and is based in Bedford, Massachusetts.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-08-09 Globecomm Systems

Hauppauge, New York, United States

Globecomm Systems, Inc. is a developer and managing network complex communications solutions with a strong track record of growth and innovative engineering that leverages its global communications network. Globecomm Systems, Inc. was founded in 1994 and is based in Hauppauge, New York.

Buy -
SELLER

Farallon Capital Management

San Francisco, California, United States

Investor Investor Investor Investor Investor


Category Asset Manager
Founded 1986
Size Large
Type Sector Agnostic
DESCRIPTION

Farallon Capital Management is a private investment firm that targets a variety of investment strategies throughout the world. The Firm pursues investments that include public and private debt and equity securities, direct investments in private companies, and real estate. Farallon is especially interested in investments that include a key event (such as a merger, restructuring, recapitalization or other major change) that has the potential for an appreciation of the value of a particular investment. Farallon's direct investment group makes debt, preferred stock or equity investments in businesses with substantial franchise value, healthy cash flow, and motivated management who have invested alongside the Firm. Farallon Capital Management was formed in 1986 and is based in San Francisco, California.


DEAL STATS #
Overall 2 of 4
Sector (Engineering) 1 of 1
Type (Add-on Acquisition) 1 of 1
State (Ohio) 1 of 1
Country (United States) 2 of 2
Year (2016) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-08-04 GO-JEK

Jakarta, Indonesia

GO-JEK is a mobile application-based platform in Indonesia that provides a range of services such as ride-hailing, food delivery, lifestyle services, and mobile payments. GO-JEK was founded in 2010 and is based in Jakarta, Indonesia.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-05-07 Atento

Luxembourg, Luxembourg

Atento is a provider of customer relationship management and business process outsourcing (CRM BPO) services. Atento offers a wide range of CRM BPO services across multiple channels Its clients are multinational corporations in sectors such as telecommunications, banking and finance, health, consumption and public administration, among others. Atento was founded in 1999 and is based in Luxembourg City.

Buy -