M&A Deal Summary

Vapor Power International Acquires Precision Boilers

On April 22, 2015, Vapor Power International acquired electrical equipment company Precision Boilers from Source Capital and Capitala Group

Acquisition Highlights
  • This is Vapor Power International’s 1st transaction in the Electrical Equipment sector.
  • This is Vapor Power International’s 1st transaction in the United States.
  • This is Vapor Power International’s 1st transaction in Tennessee.

M&A Deal Summary

Date 2015-04-22
Target Precision Boilers
Sector Electrical Equipment
Buyer(s) Vapor Power International
Sellers(s) Source Capital
Capitala Group
Deal Type Add-on Acquisition

Target

Precision Boilers

Morristown, Tennessee, United States
Precision Boilers LLC is a manufacturer of electric hot water and steam boilers and electric hot water storage heaters. Precision Boilers was founded in 1946 and is based in Morristown, Tennessee.

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Buyer(S) 1

Buyer

Vapor Power International

Franklin Park, Illinois, United States

Category Company
Founded 1903
Sector Electrical Equipment
DESCRIPTION

Vapor Power International is a manufacturer of industrial and commercial steam generators. Vapor offers specialized industrial steam water-tube boilers, electric boilers, and thermal fluid heaters custom-made to order manufacturing processes requiring high-pressure heat/power. Vapor Power International was founded in 1903 and is based in Franklin Park, Illinois.


DEAL STATS #
Overall 1 of 1
Sector (Electrical Equipment) 1 of 1
Type (Add-on Acquisition) 1 of 1
State (Tennessee) 1 of 1
Country (United States) 1 of 1
Year (2015) 1 of 1

Seller(S) 2

SELLER

Source Capital

Atlanta, Georgia, United States

Investor Investor Investor Investor Investor


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

Source Capital is a private equity firm that invests in mature, smaller companies in a variety of sectors. The Firm generally looks to support management-backed leveraged acquisitions, recapitalizations, growth financings, and various turnaround situations. Source Capital's broad industry focus includes business services, consumer, distribution/supply, healthcare, and light manufacturing. The Firm prefers control investments, but will selectively review minority situations. Target companies are typically profitable with at least $2 million in EBITDA. Source Capital will not invest in venture deals, high tech, or real estate. Source Capital was formed in 2002 and is based in Atlanta, Georgia.


DEAL STATS #
Overall 7 of 19
Sector (Electrical Equipment) 1 of 1
Type (Add-on Acquisition) 2 of 8
State (Tennessee) 2 of 2
Country (United States) 7 of 19
Year (2015) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-11-06 Vita Nonwovens

High Point, North Carolina, United States

Vita Nonwovens LLC is a manufacturer of nonwoven thermal bonded fiber material. Vita Nonwovens is based in High Point, North Carolina.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-08-20 CRH Healthcare

Atlanta, Georgia, United States

CRH Healthcare is a patient-focused operator of urgent care centers in Georgia, Florida, and Alabama. CRH operates a "family of brands", leveraging a different brand name in each state, while always being focused on the CRH Mission, "to deliver the Perfect Patient Experience every time". To achieve this mission, everything they do is focused on the 5 C's: Convenient, Courteous, Caring, Competent, and Compliant. All of CRH's clinics are equipped to help diagnose and treat a wide range of non-life-threatening illnesses and injuries as well as to provide occupational health services to local employers. CRH Healthcare was founded in 2012 and headquartered in Atlanta, Georgia.

Sell -
SELLER

Capitala Group

Charlotte, North Carolina, United States

Investor Investor Investor Investor Investor


Category Asset Manager
Founded 1998
PE ASSETS 2.2B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Capitala Group is an asset manager that provides equity and mezzanine capital to mid-sized companies valued up to $250 million. Funds are generally used to support growth needs, add-on acquisitions, management/leveraged buyouts, and recapitalizations. Capitatala will invest across the US, but generally targets opportunities located in the Southeast. Industry preferences include building products, business services, consumer/reteail, general industrial, healthcare, and technology. Prospective companies typically have revenues greater than $10 million and EBITDA of at least $3 million. Capitala was formed in 1998 and is headquartered in Charlotte, North Carolina.


DEAL STATS #
Overall 20 of 53
Sector (Electrical Equipment) 1 of 2
Type (Add-on Acquisition) 6 of 17
State (Tennessee) 1 of 3
Country (United States) 19 of 52
Year (2015) 3 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-03-26 KBP Foods

Overland Park, Kansas, United States

KBP Foods operates quick service restaurants as a franchisee under the YUM! Brands umbrella, primarily within the KFC and Taco Bell concepts. KBP Foods was founded in 1999 and is based in Overland Park, Kansas.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-05-01 S&S Management Group

Newportq, North Carolina, United States

S&S Management Group LLC provides third-party investigative and litigation support services, armed and unarmed guards, concierge security services, vehicle patrol, and CCTV monitoring services for retailers, hotels, malls, and government entities.

Buy -