M&A Deal Summary

Tinicum Capital Partners Acquires Astrodyne TDI

On November 27, 2017, private equity firm Tinicum Capital Partners acquired electrical equipment company Astrodyne TDI from Audax Private Equity and Apogem Capital

Acquisition Highlights
  • This is Tinicum Capital Partners’ 1st transaction in the Electrical Equipment sector.
  • This is Tinicum Capital Partners’ 35th transaction in the United States.
  • This is Tinicum Capital Partners’ 2nd transaction in New Jersey.

M&A Deal Summary
Date 2017-11-27
Target Astrodyne TDI
Sector Electrical Equipment
Buyer(s) Tinicum Capital Partners
Sellers(s) Audax Private Equity
Apogem Capital
Deal Type Secondary Buyout

Target

Astrodyne TDI

Hackettstown, New Jersey, United States
Astrodyne TDI is a designer, manufacturer, and distributor of AC/DC power supplies, DC/DC converters, and external and wall-mount power adapters through catalog, direct sales, and internet. Astrodyne TDI was founded in 1994 and is based in Hackettstown, New Jersey.

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Buyer(S) 1

Buyer

Tinicum Capital Partners

New York, New York, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1998
PE ASSETS 1.6B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Tinicum Capital Partners is a private equity group that seeks to acquire control of companies through acquisitions or restructurings or to take minority stakes in public or private companies through equity or debt securities. Tinicum's target equity investment size is between $30 and $150 million per transaction. Sectors of interest include aerospace; HVAC components; medical devices; financial services; specialty industrial products or components; pumps, valves and other process control equipment; specialty machinery; electrical equipment; motors and motion control equipment; specialty metals/magnetics; and media/advertising. The Firm will not consider investments in venture capital, real estate, or unproven technology. Tinicum was formed in 1998 and is based in New York City.

DEAL STATS #
Overall 38 of 47
Sector (Electrical Equipment) 1 of 2
Type (Secondary Buyout) 1 of 2
State (New Jersey) 2 of 2
Country (United States) 35 of 43
Year (2017) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-04-11 PAS Global

Houston, Texas, United States

PAS Global LLC is a provider of software solutions for ICS cybersecurity, process safety, and asset reliability to the energy, process, and power industries worldwide. PAS solutions include industrial control system cybersecurity, automation asset management, IPL assurance, alarm management, high-performance HMI™, boundary management, and control loop performance optimization. PAS solutions are installed in over 1,100 facilities worldwide in more than 70 countries. PAS Global was founded in 1993 and is based in Houston, Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-06-01 Eagle Holdco

United States

Eagle Holdco is a distributor of supplies and services to the auto aftermarket industry in the United States and Canada.

Buy -

Seller(S) 2

SELLER

Audax Private Equity

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1999
PE ASSETS 19.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Audax Private Equity is a private equity firm focused on acquiring control positions in a variety of mid to large North American headquartered companies. The Firm segments its activities into lower middle-market and larger scale investing. Within its larger group, Audax targets profitable businesses valued up to $800 million and within its lower middle-market group, the Firm seeks companies valued up to $125 million. Sectors of interest include business services, consumer products/services, financial services, healthcare services, industrial services, software, and technology. Audax has a special interest in businesses that can benefit from a buy and build investment strategy for growth. Audax Private Equity was formed in 1999 and is based in Boston, Massachusetts.

DEAL STATS #
Overall 57 of 102
Sector (Electrical Equipment) 4 of 5
Type (Secondary Buyout) 29 of 55
State (New Jersey) 2 of 7
Country (United States) 55 of 97
Year (2017) 6 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-11-09 RESA Power

Houston, Texas, United States

RESA Power is a provider of high-end, mission-critical electrical system services and products for industrial, commercial, institutional, government, and utility end-users across North America. The technicians and engineers at RESA are experts in testing and servicing transformers, relays, breakers and other key components of power distribution and control systems. It also provides quick turn-around custom manufactured or retrofit switchgear & breaker solutions and maintains an extensive inventory of obsolete and hard-to-find components. RESA Power was formed in 1928 and is based in Houston, Texas.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-12-18 Belmont Medical Technologies

Billerica, Massachusetts, United States

Belmont Medical Technologies is a provider of fluid management and patient temperature management solutions for use worldwide in medical facilities, military combat fields, and EMS settings. Belmont Medical Technologies was formed in 1980 and is based in Billerica, Massachusetts.

Buy -
SELLER

Apogem Capital

Chicago, Illinois, United States
Category Asset Manager
Founded 2001
PE ASSETS 39.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Apogem Capital is a diversified alternative investment manager and subsidiary of insurance provider, New York Life. Apogem manages a variety of investment strategies including private equity, private credit, and real assets. Within private equity, the Firm looks to make fund, direct, and secondary investments, as well as acquire GP stakes. Within its direct investing activity, Apogem targets mid-sized companies valued up to $250 million and will consider businesses throughout North America and Europe. Apogem Capital formed as the result of New York Life combining PA Capital, Madison Capital Funding, and Goldpoint Partners into one entity. Apogem Capital is based in New York City.

DEAL STATS #
Overall 26 of 52
Sector (Electrical Equipment) 2 of 4
Type (Secondary Buyout) 13 of 25
State (New Jersey) 4 of 6
Country (United States) 26 of 52
Year (2017) 6 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-10-25 Spectrum Vision Partners

Garden City, New York, United States

Spectrum Vision Partners is a management services organization serving the ophthalmology sector. The company provides world-class practice management solutions to a network of nationally renowned multi-specialty ophthalmologists in the Tri-State region. It provides a comprehensive set of business support functions, including billing and collections, marketing, financial and accounting services, benefits and payroll management, and information technology. Spectrum Vision Partners was formed in 1997 and is based in Garden City, New York.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-01-01 Auveco

Cold Spring, Kentucky, United States

Auveco is a distributor of fasteners to the automotive body hardware aftermarket and general industrial maintenance, repair, and operations space. The Company sells to thousands of wholesale distribution customers who subsequently service hundreds of thousands of collision centers, repair shops, and dealerships located throughout North America. Auveco was founded in 1936 and is based in Cold Spring, Kentucky.

Buy -
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