M&A Deal Summary

TJC Acquires ISG

On December 7, 2022, private equity firm TJC acquired manufacturer ISG from Five Points Capital, KCM Capital Partners and PNC Mezzanine Capital

Acquisition Highlights
  • This is TJC’s 10th transaction in the Manufacturing sector.
  • This is TJC’s 83rd transaction in the United States.
  • This is TJC’s 2nd transaction in Indiana.

M&A Deal Summary
Date 2022-12-07
Target ISG
Sector Manufacturing
Buyer(s) TJC
Sellers(s) Five Points Capital
KCM Capital Partners
PNC Mezzanine Capital
Deal Type Secondary Buyout
Advisor(s) Stephens Investment Banking (Financial)

Target

ISG

Indianapolis, Indiana, United States
ISG provides services and parts to critical-to-process industrial rotating equipment for a diversified blue chip customer base comprised mainly of large industrial, power, paper, and energy companies. ISG was founded in 2018 and is based in Indianapolis, Indiana.

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Buyer(S) 1

Buyer

TJC

New York, New York, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1982
PE ASSETS 14.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

TJC is a private investment firm that specializes in acquiring North American middle-market businesses operating in basic industries. TJC specifically looks to provide liquidity for shareholders, raise capital for corporate growth and 'create significant equity opportunities for key management'. TJC will consider opportunities valued from $100 million to $2 billion in a wide variety of industries. Sectors of interest include aerospace/defense, automotive, building products, chemicals, consumer products, distribution, energy, financial services, healthcare, industrial products, insurance, metals, packaging, retail, transportation/logistics, and telecom. TJC was formerly known as The Jordan Company. The Firm was formed in 1982 and is based in New York City.

DEAL STATS #
Overall 85 of 93
Sector (Manufacturing) 10 of 10
Type (Secondary Buyout) 30 of 34
State (Indiana) 2 of 2
Country (United States) 83 of 89
Year (2022) 6 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-11-01 Ned Stevens

Fairfield, New Jersey, United States

Ned Stevens provides gutter cleaning, soft wash, and other related, non-discretionary residential services, including gutter maintenance, installation, and repair. Ned Stevens was founded in 1965 and is based in Fairfield, New Jersey.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-08-07 Worldwide Clinical Trials

King of Prussia, Pennsylvania, United States

Worldwide Clinical Trials is a medically and scientifically driven contract research organization (CRO) providing early and late stage drug development services for pharmaceutical and biotechnology companies. Worldwide Clinical Trials is based in King of Prussia, Pennsylvania.

Sell -

Seller(S) 3

SELLER

Five Points Capital

Winston-Salem, North Carolina, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1997
PE ASSETS 1.3B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Five Points Capital makes both direct private equity and junior capital investments in US-based middle-market companies. Five Points prefers control based investments and will consider opportunities in a variety of industries. For both equity and mezzanine investments, the Firm looks to commit $5 to $25 million of capital in businesses with at least $10 million in sales and $3 million of EBITDA. Five Points Capital was formerly known as BB&T Capital Partners and re-branded in 2015. The Firm was established in 1997 and is based in Winston-Salem, North Carolina.

DEAL STATS #
Overall 51 of 58
Sector (Manufacturing) 3 of 4
Type (Secondary Buyout) 25 of 26
State (Indiana) 2 of 2
Country (United States) 51 of 58
Year (2022) 10 of 10
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-10-17 OutSolve

Metairie, Louisiana, United States

OutSolve is a provider of comprehensive affirmative action planning and compliance solutions to help federal contractors meet the full requirements of Executive Order 11246, The Vietnam Era Veteran Readjustment Assistance Act, and Section 503 of the Rehabilitation Act of 1973, among other regulations. OutSolve was founded in 1998 and is based in Metairie, Louisiana.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-01-06 ToxStrategies

Asheville, North Carolina, United States

ToxStrategies is a multidisciplinary scientific consulting firm specializing in toxicology, epidemiology, exposure sciences, industrial hygiene and safety, and regulatory compliance. ToxStrategies is based in Asheville, North Carolina.

Buy -
SELLER

KCM Capital Partners

Investor Investor Investor

Category Private Equity Firm
Founded 2017
Size Small
Type Sector Agnostic
DESCRIPTION

KCM Capital Partners LLC is a private equity firm focused on investing in lower middle-market business services, value-added distribution, and specialty industrial companies throughout the US. KCM has a preference for 'fundamentals well-positioned' companies undergoing transition or experiencing change. The Firm looks to commit $10 to $50 million per platform investment and will consider transactions valued up to $150 million. KCM Capital Partners LLC was formed in 2017 and is headquartered in Chicago.

DEAL STATS #
Overall 2 of 2
Sector (Manufacturing) 1 of 1
Type (Secondary Buyout) 1 of 1
State (Indiana) 1 of 1
Country (United States) 2 of 2
Year (2022) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-11-01 Royal Distributing

Guelph, Ontario, Canada

Royal Distributing is a omnichannel specialty retailer serving the enthusiast powersports market for snowmobile, ATV, UTV, dirt bike, motorcycle, and watersports aftermarket products. Royal Distributing was founded in 1990 and is based in Guelph, Ontario.

Buy -
SELLER

PNC Mezzanine Capital

Pittsburgh, Pennsylvania, United States

Investor Investor Investor Investor Investor

Category Mezzanine Finance Firm
Founded 1989
PE ASSETS 1.5B USD
Size Large
Type Sector Agnostic
DESCRIPTION

PNC Mezzanine Capital is the subordinated debt investing arm of PNC Bank. PNC Mezzanine looks to provide $10 to $50 million of junior capital to middle-market companies in a variety of industries. Prospective companies generally have revenues of $20 million and EBITDA greater than $4 million. Broad sectors of interest include niche manufacturing, value-added distribution, and business or consumer services. PNC will not invest in early-stage or technology-driven businesses; real estate, commodity-based or capital-intensive companies; businesses with high customer or vendor concentration; or declining businesses. PNC Mezzanine was formed in 1989 and is based in Pittsburgh, Pennsylvania.

DEAL STATS #
Overall 45 of 49
Sector (Manufacturing) 5 of 7
Type (Secondary Buyout) 19 of 19
State (Indiana) 2 of 2
Country (United States) 43 of 47
Year (2022) 6 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-11-17 CST Utilities

Grove city, Ohio, United States

CST Utilities is a turnkey infrastructure service company providing a range of complementary underground services including excavation, boring, drain cleaning, and other pumping services to public utilities, telecom providers, and other businesses. CST Utilities was founded in 1969 and is based in Grove city, Ohio.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-07-01 Revak Keen Turbomachinery

La Porte, Texas, United States

Revak Keen Turbomachinery remanufactures, modify, and upgrade steam turbines, pumps, gears, and complete steam turbine systems for industrial customers. Revak Keen Turbomachinery was founded in 1981 and is based in La Porte, Texas.

Sell -
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