M&A Deal Summary

Tide Rock Holdings Acquires FR Conversions

On April 11, 2023, growth capital firm Tide Rock Holdings acquired automotive company FR Conversions

Acquisition Highlights
  • This is Tide Rock Holdings’ 1st transaction in the Automotive sector.
  • This is Tide Rock Holdings’ 14th transaction in the United States.
  • This is Tide Rock Holdings’ 1st transaction in Maryland.

M&A Deal Summary
Date 2023-04-11
Target FR Conversions
Sector Automotive
Buyer(s) Tide Rock Holdings
Deal Type Buyout (LBO, MBO, MBI)

Target

FR Conversions

Westminster, Maryland, United States
FR Conversions is a second-stage vehicle manufacturer that designs, engineers, and manufactures transportation solutions well beyond industry standards. The company's vehicle conversion solutions cater to the special needs of groups such as the physically challenged, contractors, organizations, providers of emergency services, municipalities, and others. Maximizing usable space, safety, and maintainability are all critical components that it works to surpass a mere status quo. FR Conversions is based in Westminster, Maryland.

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Buyer(S) 1

Buyer

Tide Rock Holdings

Investor Investor Investor Investor Investor

Category Growth Capital Firm
Founded 2013
Size Small
Type Sector Agnostic
DESCRIPTION

Tide Rock Holdings is a private holding company that looks to acquire profitable, lower middle-market businesses valued up to $30 million. Areas of interest include business services, transportation, distribution, manufacturing, and food/beverage. Tide Rock prefers businesses with recurring revenue business models, high margins, and differentiated products/services. Tide Rock Holdings was formed in 2013 and is headquartered in Cardiff, California.

DEAL STATS #
Overall 14 of 18
Sector (Automotive) 1 of 1
Type (Buyout (LBO, MBO, MBI)) 13 of 17
State (Maryland) 1 of 1
Country (United States) 14 of 18
Year (2023) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-04-01 Adura

Corona, California, United States

Adura is a manufacturer of all types of LED modules with its patented SinkPADTM PCB technology offers exceptional thermal management, extending the life and performance of high-powered LED modules by making their lighting fixture run cooler and more efficiently. Adura is based in Corona, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-05-06 Premier Packaging

Memphis, Tennessee, United States

Premier Packaging is a full-service contract packaging company providing easy access to some of the largest distribution centers in the U.S. South. Premier Packaging is based in Memphis, Tennessee.

Buy -
Mergr

Product

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