M&A Deal Summary

TJC Acquires Usalco

On August 5, 2024, private equity firm TJC acquired chemicals company Usalco from H.I.G. Private Equity

Acquisition Highlights
  • This is TJC’s 8th transaction in the Chemicals sector.
  • This is TJC’s 89th transaction in the United States.
  • This is TJC’s 1st transaction in Maryland.

M&A Deal Summary

Date 2024-08-05
Target Usalco
Sector Chemicals
Buyer(s) TJC
Sellers(s) H.I.G. Private Equity
Deal Type Secondary Buyout
Advisor(s) BofA Securities
Citi (Financial)
King & Spalding (Legal)

Target

Usalco

Baltimore, Maryland, United States
Usalco is a provider of high-quality aluminum chemicals used in water and wastewater treatment, refinery catalysts, and other industrial end-market applications. Usalco was founded in 1980 and is based in Baltimore, Maryland.

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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 93 of 96
Sector: Chemicals M&A 8 of 8
Type: Secondary Buyout M&A Deals 34 of 36
State: Maryland M&A 1 of 1
Country: United States M&A 89 of 92
Year: 2024 M&A 4 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-07-02 Insulation Technology Group

Frankfurt, Germany

Insulation Technology Group is a provider of electrical insulation solutions for the global utility market. Insulation Technology Group is a manufacturer of high and ultra-high voltage porcelain insulators for mission-critical applications within electrical substations, overhead transmissions, and distribution infrastructure. Insulation Technology Group is based in Frankfurt, Germany.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2025-05-27 Silvus

Los Angeles, California, United States

Silvus develops and manufactures mobile communications datalinks (branded StreamCaster) that are reshaping traditional broadband wireless connectivity. Primarily used in law enforcement, unmanned systems, tactical and other commercial/industrial applications, Silvus’ StreamCaster radios and their proprietary waveform overcome traditional network challenges and facilitate data communication in harsh environments, without the need for fixed infrastructure. Silvus was founded in 2004 and is based in Los Angeles, California.

Sell $4.4B

Seller(S) 1

SELLER

H.I.G. Private Equity

Miami, Florida, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1993
PE ASSETS 65.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

HIG Private Equity is the private equity arm of HIG Capital. The Firm focuses on management buyouts, growth equity investments, and recapitalizations of mid-sized to large companies valued between $50 million and $1 billion. HIG will also consider industry consolidations, going-privates, and corporate divestitures. Sectors of interest include aerospace, building materials, business services, consumer products, distribution, healthcare, infrastructure, contracting, manufacturing, media, oil & gas services, IT, and transportation. HIG was formed in 1993 is based in Miami, Florida.


DEAL STATS #
Overall 173 of 180
Sector: Chemicals M&A 10 of 10
Type: Secondary Buyout M&A Deals 69 of 74
State: Maryland M&A 2 of 2
Country: United States M&A 119 of 123
Year: 2024 M&A 8 of 11
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-07-25 Ascension Property Services

Memphis, Tennessee, United States

Ascension Property Services provides coatings, HVAC maintenance, and installation, electric, and plumbing. Ascension Property Services was founded in 2019 and is based in Memphis, Tennessee.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-09-03 Action Elevator

Millersville, Maryland, United States

Action Elevator is a regional independent elevator services company serving building owners and property managers throughout the Mid-Atlantic region. The Company offers maintenance, repair, and modernization services critical to the operational safety and uptime across the elevator lifecycle. Action Elevator was founded in 2012 and is based in Millersville, Maryland.

Buy -