M&A Deal Summary

Tonka Bay Equity Partners Acquires Corporate Technologies

On September 7, 2023, private equity firm Tonka Bay Equity Partners acquired information technology company Corporate Technologies from North Central Equity

Acquisition Highlights
  • This is Tonka Bay Equity Partners’ 1st transaction in the Information Technology sector.
  • This is Tonka Bay Equity Partners’ 31st transaction in the United States.
  • This is Tonka Bay Equity Partners’ 11th transaction in Minnesota.

M&A Deal Summary
Date 2023-09-07
Target Corporate Technologies
Sector Information Technology
Buyer(s) Tonka Bay Equity Partners
Sellers(s) North Central Equity
Deal Type Secondary Buyout

Target

Corporate Technologies

Minneapolis, Minnesota, United States
Corporate Technologies is a provider of managed IT solutions for businesses and institutions in Minnesota, North Dakota, Idaho, Southern California, West Michigan, and New Jersey. Corporate Technologies was founded in 1981 and is based in Minneapolis, Minnesota.

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Buyer(S) 1

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 32 of 33
Sector (Information Technology) 1 of 1
Type (Secondary Buyout) 5 of 5
State (Minnesota) 11 of 11
Country (United States) 31 of 32
Year (2023) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-11-30 Standard Locknut

Westfield, Indiana, United States

Standard Locknut is a manufacturer of specialized bearing accessories and also provides contract machining services. Standard Locknut was founded in 1948 and is based in Westfield, Indiana.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-01-09 United Skin Specialists

Plymouth, Minnesota, United States

United Skin Specialists is a provider of practice management services to a variety of well-established dermatology offices. USS’s goal is to enable successful dermatology practices in maintaining and expanding their patient oriented dermatologic services while creating a great work environment for the providers and their support staff. United Skin Specialists was established in 2015 and is based in Plymouth, Minnesota.

Sell -

Seller(S) 1

SELLER

North Central Equity

Eden Prairie, Minnesota, United States
Category Private Equity Firm
Founded 2004
Size Small
Type Sector Agnostic
DESCRIPTION

North Central Equity LLC (NCE) is a private holding company focused on acquisitions of small privately held businesses or divisions of public companies. NCE invests in the range of $2 to $6 million per transaction across North America, with a preference for Minnesota-based companies. Target businesses generally have positive cash-flows, recurring revenues, and operate in the business services, manufacturing, and distribution sectors. NCE will not consider opportunities in technology (complex), real estate, restaurants, or retail. North Central Equity was formed in 2004 and is based in Minneapolis.

DEAL STATS #
Overall 2 of 2
Sector (Information Technology) 1 of 1
Type (Secondary Buyout) 2 of 2
State (Minnesota) 1 of 1
Country (United States) 2 of 2
Year (2023) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-04-17 Sunrise Fiberglass

Wyoming, Minnesota, United States

Sunrise Fiberglass is a producer of custom fabricated fiberglass components and related assemblies. Sunrise Fiberglass was founded in 1968 and is based in Wyoming, Minnesota.

Buy -
Mergr

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