Buyout (LBO, MBO, MBI) • Environmental

Three Cities Research Acquires Parallel Products

On January 1, 2003, private equity firm Three Cities Research acquired environmental company Parallel Products

Acquisition Context
  • This is Three Cities Research’s 1st transaction in the Environmental sector.
  • This is Three Cities Research’s 8th transaction in the United States.
  • This is Three Cities Research’s 1st transaction in Kentucky.

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M&A Deal Summary

Date January 1, 2003
Target Parallel Products
Sector Environmental
Buyer(s) Three Cities Research
Deal Type Buyout (LBO, MBO, MBI)

Target Company

Parallel Products

Louisville, Kentucky, United States
Parallel Products provides secure destruction and ethanol recycling of unsaleable products and waste streams in the beverage, pharmaceutical, chemical, and health and beauty industries across the U.S. Parallel Products was established in 1981 and is based in Louisville, Kentucky.
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Buyer Overview 1

Buyer

Three Cities Research

New York, New York, United States

Category Private Equity Firm
Founded 1976
PE ASSETS 700M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Three Cities Research (TCR) is a private equity firm focused on investing in underperforming companies. TCR looks for change of control situations where the firm's involvement can lead to improvements. Broad sectors of interest include manufacturing, distribution, industrial, services, and retail. Three Cities Research was formed in 1976 and is based in New York City.


Deal Context for Buyer #
Overall 10 of 14
Sector: Environmental 1 of 1
Type: Buyout (LBO, MBO, MBI) 7 of 10
State: Kentucky 1 of 1
Country: United States 8 of 12
Year: 2003 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2003-01-01 Morton Industrial Group

Morton, Illinois, United States

Morton Industrial Group, Inc. is the leading provider of highly engineered sheet metal fabrications to the off-highway construction equipment market. The Company manufactures sophisticated metal fabrications and assemblies for its market-leading customers such as Caterpillar Inc., Deere & Co., JLG Industries Inc., and Kubota.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2003-04-23 Pameco

Norcross, Georgia, United States

Pameco Corp. is a distributor of heating, ventilation and air conditioning (HVAC) replacement parts.

Sell -