M&A Deal Summary

Tonka Bay Equity Partners and Granite Partners Acquire All Flex Solutions

On January 2, 2007, private equity firms Tonka Bay Equity Partners and Granite Partners acquired semiconductors company All Flex Solutions

Acquisition Highlights
  • This is Tonka Bay Equity Partners’ 1st and Granite Partners’ 1st transaction in the Semiconductors sector.
  • This is Tonka Bay Equity Partners’ 9th and Granite Partners’ 3rd transaction in the United States.
  • This is Tonka Bay Equity Partners’ 5th and Granite Partners’ 3rd transaction in Minnesota.

M&A Deal Summary
Date 2007-01-02
Target All Flex Solutions
Sector Semiconductors
Buyer(s) Tonka Bay Equity Partners
Granite Partners
Deal Type Buyout (LBO, MBO, MBI)

Target

All Flex Solutions

Northfield, Minnesota, United States
All Flex Solutions is a provider of specialty flex circuits and value-add assemblies. All Flex Solutions' products offered today include multi-layer, Maxi-Flex®, rigid flex, and heater circuits. All Flex Flexible Circuits was formed in 1991 and is based in Northfield, Minnesota.

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Buyer(S) 2

Buyer

Tonka Bay Equity Partners

Minnetonka, Minnesota, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1998
PE ASSETS 560M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Tonka Bay Equity Partners is a Midwest US-based private equity firm that targets control and non-control investments in manufacturing, business services, and value-added distribution companies with at least $2 million of EBITDA. Tonka Bay will consider a variety of transaction situations, including management buyouts, shareholder liquidity events, recapitalizations, and expansions. Tonka Bay Equity Partners was formed in 1998 and is based in Minnetonka, Minnesota.

DEAL STATS #
Overall 9 of 33
Sector (Semiconductors) 1 of 2
Type (Buyout (LBO, MBO, MBI)) 6 of 14
State (Minnesota) 5 of 11
Country (United States) 9 of 32
Year (2007) 2 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-01-01 Apex Print Technologies

St. Paul, Minnesota, United States

Apex Print Technologies LLC is a technology and data driven revenue cycle management business focused on the healthcare industry. Through it proprietary software as a service platform, the company provides a complete suite of billing cycle solutions.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-01-29 Circuit Check

Maple Grove, Minnesota, United States

Circuit Check is a provider of electronic test equipment and services to OEMs and contract manufacturers in the technology, medical and industrial and markets. Circuit Check was founded in 1979 and is based in Maple Grove, Minnesota.

Buy -
Buyer

Granite Partners

St. Cloud, Minnesota, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2002
Size Small
Type Sector Agnostic
DESCRIPTION

Granite Equity Partners is a private equity firm that invests in established companies headquartered in the upper Midwest, with a preference for Minnesota based opportunities. Granite looks for businesses in a wide range of industries and targets management buyouts, recapitalizations, and growth capital financing transactions. Prospective companies generally have revenues between $10 to $100 million and EBITDA between $1 to $5 million. Granite Equity Partners was formed in 2002 and is based in St. Cloud, Minnesota with additional office in Northfield, Minnesota.

DEAL STATS #
Overall 3 of 13
Sector (Semiconductors) 1 of 2
Type (Buyout (LBO, MBO, MBI)) 2 of 3
State (Minnesota) 3 of 11
Country (United States) 3 of 13
Year (2007) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2006-10-01 Asset Recovery

St. Paul, Minnesota, United States

Asset Recovery is a provider of end-of-life solutions for computer and electronic equipment for businesses and individuals.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-01-29 Circuit Check

Maple Grove, Minnesota, United States

Circuit Check is a provider of electronic test equipment and services to OEMs and contract manufacturers in the technology, medical and industrial and markets. Circuit Check was founded in 1979 and is based in Maple Grove, Minnesota.

Buy -
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