M&A Deal Summary

Veritas Capital and Unique Investment Acquire CPI

On February 11, 2010, private equity firms Veritas Capital and Unique Investment acquired test/measurement equipment company CPI for 525M USD

Acquisition Highlights
  • This is Veritas Capital’s 2nd and Unique Investment’s 1st transaction in the Test/Measurement Equipment sector.
  • This is Veritas Capital’s 18th and Unique Investment’s largest (disclosed) transaction.
  • This is Veritas Capital’s 9th and Unique Investment’s 3rd transaction in the United States.
  • This is Veritas Capital’s 1st and Unique Investment’s 2nd transaction in California.
Investment Fate
  • CPI was sold to a publicly-traded strategic buyer in 2010 for 472M USD.
  • CPI was divested to a consortium of buyers in 2017.

M&A Deal Summary
Date 2010-02-11
Target CPI
Sector Test/Measurement Equipment
Buyer(s) Veritas Capital
Unique Investment
Deal Type Buyout (LBO, MBO, MBI)
Deal Value 525M USD
Advisor(s) Moelis & Co. (Financial)

Target

CPI

Santa Rosa, California, United States
CPI is a direct marketer, designer and manufacturer of innovative OEM and end-user solutions in analytical science and technology. The company manufactures a range of technical analytical instrument components, high-purity standard solutions and reagents and other analytical testing products for the environmental, petrochemical, pharmaceutical, biotechnology and semiconductor industries. CPI’s worldwide customers include IBM, Intel, Pfizer, Merck, Bayer, US Filter, Safety Kleen, Chevron, Ashland Chemical, Dupont and BASF as well as numerous federal, state, academic and private laboratories. Direct sales and marketing are conducted worldwide, from offices in the United States, Canada, Europe and Japan.

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Buyer(S) 2

Buyer

Veritas Capital

New York, New York, United States
Category Private Equity Firm
Founded 1992
PE ASSETS 40.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Veritas Capital is a private equity investment firm that targets investments in defense, aerospace, government services, media/telecommunications, consumer products, and specialty manufacturing companies. Veritas generally partners with management when pursuing investments. Prospective transaction situations include buyouts, growth capital investments, and leveraged recapitalizations. Veritas Capital was established in 1992 and is based in New York City.

DEAL STATS #
Overall 9 of 41
Sector (Test/Measurement Equipment) 2 of 2
Type (Buyout (LBO, MBO, MBI)) 5 of 7
State (California) 1 of 2
Country (United States) 9 of 40
Year (2010) 1 of 3
Size (of disclosed) 18 of 23
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2009-06-01 KeyPoint Government Solutions

Loveland, Colorado, United States

KeyPoint Government Solutions is a mission-critical provider of specialized investigative services to a broad range of U.S. Federal Government organizations spanning the civilian, defense and intelligence sectors.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2010-04-12 DynCorp International

McLean, Virginia, United States

DynCorp International is a global government services provider in support of U.S. national security and foreign policy objectives, delivering support solutions for defense, diplomacy, and international development. DynCorp International operates major programs in logistics, platform support, contingency operations, and training and mentoring to reinforce security, community stability, and the rule of law. DynCorp International was formed in 1951 and is headquartered in McLean, Virginia.

Sell $1.5B
Buyer

Unique Investment

Huntington Beach, California, United States

Investor Investor Investor

Category Private Equity Firm
Founded 1993
Size Small
Type Sector Agnostic
DESCRIPTION

Unique Investment Corporation (or its affiliate Unique Capital Management) is an investment and management company based in Southern California. The Firm invests in growth-stage, small and middle-market companies, and then facilitates their growth and profitability through management and capital support. Unique pursues companies with EBITDA between $1 and $10 million. The Firm prefers to make investments in companies located in the Western United States, and is open to investing in any industry. One area of particular interest to the firm is real estate. Unique invests in real estate opportunities that include properties valued between $1 and $15 million. Unique Investment Corporation was founded in 1993 and is based in Huntington Beach, California.

DEAL STATS #
Overall 3 of 3
Sector (Test/Measurement Equipment) 1 of 1
Type (Buyout (LBO, MBO, MBI)) 3 of 3
State (California) 2 of 2
Country (United States) 3 of 3
Year (2010) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
1999-07-13 Pacific Alternator & Starter

Fountain Valley, California, United States

Pacific Alternator & Starter, Inc. Overhauled alternators and starters for resale.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2010-05-10 CPI

Santa Rosa, California, United States

CPI is a direct marketer, designer and manufacturer of innovative OEM and end-user solutions in analytical science and technology. The company manufactures a range of technical analytical instrument components, high-purity standard solutions and reagents and other analytical testing products for the environmental, petrochemical, pharmaceutical, biotechnology and semiconductor industries. CPI’s worldwide customers include IBM, Intel, Pfizer, Merck, Bayer, US Filter, Safety Kleen, Chevron, Ashland Chemical, Dupont and BASF as well as numerous federal, state, academic and private laboratories. Direct sales and marketing are conducted worldwide, from offices in the United States, Canada, Europe and Japan.

Sell $472M
Mergr

Product

Company

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