M&A Deal Summary

Trystar Acquires Salient

On September 17, 2024, Trystar acquired electrical equipment company Salient from LFM Capital

Acquisition Highlights
  • This is Trystar’s 1st transaction in the Electrical Equipment sector.
  • This is Trystar’s 2nd transaction in the United States.
  • This is Trystar’s 1st transaction in North Carolina.

M&A Deal Summary
Date 2024-09-17
Target Salient
Sector Electrical Equipment
Buyer(s) Trystar
Sellers(s) LFM Capital
Deal Type Add-on Acquisition
Advisor(s) Harris Williams & Co. (Financial)
Bass, Berry & Sims PLC (Legal)

Target

Salient

Charlotte, North Carolina, United States
Salient is a manufacturer and assembler of custom electrical control panels and emergency power products. Salient's offerings include control panels, low and medium-voltage starters, VFD panels, power-metering equipment, transfer switches, and generator tap boxes for Original Equipment Manufacturers (OEM) within a wide variety of commercial and manufacturing industries. Salient was formed in 1961 and is based in Charlotte, North Carolina.

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Buyer(S) 1

Buyer

Trystar

Faribault, Minnesota, United States
Category Company
Founded 1992
Sector Electrical Equipment
DESCRIPTION

Trystar is a manufacturer offering temporary electrical power distribution products for the power rental, industrial, commercial utility, and backup emergency markets that are experiencing secular growth stemming from increasing mobile power utilization, an aging grid, and the growing impact of natural disasters. Trystar was formed in 1992 and is based in Faribault, Minnesota.

DEAL STATS #
Overall 2 of 2
Sector (Electrical Equipment) 1 of 1
Type (Add-on Acquisition) 2 of 2
State (North Carolina) 1 of 1
Country (United States) 2 of 2
Year (2024) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-12-09 TPMG

Houston, Texas, United States

TPMG designs, manufactures, and integrates both blast rated and non-blast rated custom prefabricated steel buildings to protect workers and critical equipment including switchgear, electrical power distribution equipment, and automation and control equipment. These remote buildings serve as transportable control centers and substations and can be configured in any size and in multiple stories. In contrast to conventional permanent buildings and enclosures, they are more flexible, accommodating a wider variety of applications. TPMG was formed in 2017 and is based in Houston, Texas.

Buy -

Seller(S) 1

SELLER

LFM Capital

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2014
PE ASSETS 110M USD
Size Small
Type Sector Agnostic
DESCRIPTION

LFM Capital is a private equity investor focused on acquiring North American manufacturing and industrial services businesses. The Firm looks to invest in lower middle-market companies generating sales of $10 to $150 million and EBITDA between $3 and $15 million. LFM Capital was founded in 2014 and headquartered in Nashville, Tennessee.

DEAL STATS #
Overall 7 of 7
Sector (Electrical Equipment) 1 of 1
Type (Add-on Acquisition) 2 of 2
State (North Carolina) 1 of 1
Country (United States) 7 of 7
Year (2024) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-11-28 SisTech

Bend, Oregon, United States

SisTech provides contract electronic manufacturing and mechanical assembly services to high technology companies. SisTech is based in Bend, Oregon.

Buy -
Mergr

Product

Company

Legal