M&A Deal Summary

Trilantic North America Acquires Sunbelt Solomon

On June 7, 2018, private equity firm Trilantic North America acquired electrical equipment company Sunbelt Solomon from Grey Mountain Partners

Acquisition Highlights
  • This is Trilantic North America’s 2nd transaction in the Electrical Equipment sector.
  • This is Trilantic North America’s 31st transaction in the United States.
  • This is Trilantic North America’s 7th transaction in Texas.

M&A Deal Summary
Date 2018-06-07
Target Sunbelt Solomon
Sector Electrical Equipment
Buyer(s) Trilantic North America
Sellers(s) Grey Mountain Partners
Deal Type Secondary Buyout
Advisor(s) Robert W. Baird & Co., Inc. (Financial)
Proskauer Rose LLP (Legal)

Target

Sunbelt Solomon

Temple, Texas, United States
Sunbelt Solomon is a provider of new and remanufactured electrical power and distribution equipment, including transformers, switchgear and circuit breakers, and related repair and field services. Sunbelt is recognized for its highly customizable solutions, technical expertise, speed of service and unparalleled standard of care, by customers across commercial, industrial and utility markets, among others. Sunbelt Solomon was founded in 1981 and is based in Temple, Texas.

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Buyer(S) 1

Buyer

Trilantic North America

New York, New York, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2009
PE ASSETS 9.7B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Trilantic North America is a mega-sized private equity firm focused on opportunities throughout North America. Trilantic generally invests in large businesses with 'strong market positions, unique franchises, secure and growing market niches or distinctive products and services that command premium prices'. Sectors of interest include business services, consumer, energy, and financial services. The Firm's target investment size is $50 to $300 million in companies valued up to $1 billion. Transaction situations of interest include management buyouts, recapitalizations, growth capital financings, divestitures, new platforms, and generational transfers. Trilantic North America was formed in 2009 through the spin-off of Lehman Brothers' private equity business. The Firm is based in New York City.

DEAL STATS #
Overall 33 of 55
Sector (Electrical Equipment) 2 of 3
Type (Secondary Buyout) 5 of 7
State (Texas) 7 of 9
Country (United States) 31 of 53
Year (2018) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-03-02 United Subcontractors

St. Paul, Minnesota, United States

United Subcontractors, Inc. is an independent insulation subcontractor in the U.S. and one of the major shell contractors in Florida. USI has become a major building solutions provider in the United States by combining local market savvy with outstanding employees, superior technology, and the infrastructure of a national network. USI provides the nation’s residential and commercial contractors with a wide range of construction services.

Sell $475M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-08-01 Taymax Fitness Holdings

Belmont, New Hampshire, United States

Taymax is a Planet Fitness franchisee with more than 100 locations across Texas, Tennessee, Alabama, Georgia, Florida, Pennsylvania, California and Ontario, Canada. Planet Fitness pioneered the high-value, low-price fitness club model and is the leading player in the segment with over 2,000 locations across North America. Taymax Fitness Holdings was founded in 2009 and is based in Belmont, New Hampshire.

Buy -

Seller(S) 1

SELLER

Grey Mountain Partners

Boulder, Colorado, United States
Category Private Equity Firm
Founded 1992
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Grey Mountain Partners is a private equity firm focused on investments in smaller middle-market companies. Grey Mountain targets new platform companies with minimum revenues of $25 million and EBITDA greater than $5 million. The Firm can commit up to $75 million per platform investment. Sectors of interest include diversified manufacturing, wholesale/distribution, business services, software, consumer services, packaging, food & beverage, specialty chemicals, financial services, energy, and defense. Prospective transaction situations can include corporate divestitures, MBOs, consolidation opportunities, family held companies in transition, and companies in distress or emerging from bankruptcy. Grey Mountain Partners is based in Boulder, Colorado.

DEAL STATS #
Overall 12 of 17
Sector (Electrical Equipment) 1 of 1
Type (Secondary Buyout) 5 of 7
State (Texas) 3 of 3
Country (United States) 12 of 17
Year (2018) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-02-14 48forty Solutions

Alpharetta, Georgia, United States

48forty Solutions is a whitewood pallet recycler recycling over 90 million pallets annually across its network of 73 company locations and more than 225 network facilities. 48forty serves over 2,700 customers, including manufacturers, distributors, and retailers in the distribution & logistics, food & beverage, packaging, durables, and non-durables industries. 48forty Solutions was formed in 1992 and is based in Alpharetta, Georgia.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-11-14 Mann Lake

Hackensack, Minnesota, United States

Mann Lake is a provider in the beekeeping supply market selling wood products, plastic products, feeds, tools, medications, and apparel, among many other products. Mann Lake was founded in 1983 and is based in Hackensack, Minnesota.

Buy -
Mergr

Product

Company

Legal