M&A Deal Summary

Versa Capital Management and Crystal Capital Acquire Bell and Howell

On June 27, 2011, distressed investor Versa Capital Management and Crystal Capital acquired business services company Bell and Howell

Acquisition Highlights
  • This is Versa Capital Management’s 1st and Crystal Capital’s 3rd transaction in the Business Services sector.
  • This is Versa Capital Management’s 12th and Crystal Capital’s 19th transaction in the United States.
  • This is Versa Capital Management’s 1st and Crystal Capital’s 1st transaction in North Carolina.
Investment Fate
  • Bell and Howell was recapitalized in 2018.

M&A Deal Summary

Date 2011-06-27
Target Bell and Howell
Sector Business Services
Buyer(s) Versa Capital Management
Crystal Capital
Deal Type Special Situations/Distressed

Target

Bell and Howell

Durham, North Carolina, United States
Bell and Howell is a provider of outsourced maintenance services and solutions for highly complex automation equipment across a variety of end markets, including retail, e-commerce, digital print, logistics, robotics, and production mail. Utilizing over 800 highly skilled service engineers, the Company offers customized service plans, innovative technologies, and a robust support infrastructure that enable the technology and automation initiatives of enterprises and original equipment manufacturers across industries. Bell and Howell was founded in 1907 and is based in Durham, North Carolina.

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Buyer(S) 2

Buyer

Versa Capital Management

Philadelphia, Pennsylvania, United States

Investor Investor Investor Investor Investor


Category Distressed Investor
Founded 2004
PE ASSETS 1.4B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Versa Capital Management is a private equity firm focused on investing in complex or distressed situations. Versa will consider businesses headquartered in North America and valued between $100 million and $1 billion. Prospective investment situations include buyouts, divestitures, recapitalizations, restructurings/turnarounds, take privates, rescue financings, and liquidations. Versa Capital Management is headquartered in Philadelphia, Pennsylvania.


DEAL STATS #
Overall 14 of 28
Sector: Business Services M&A 1 of 1
Type: Special Situations/Distressed M&A Deals 6 of 9
State: North Carolina M&A 1 of 3
Country: United States M&A 12 of 26
Year: 2011 M&A 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-05-20 Ohio Community Media

Tipp City, Ohio, United States

Ohio Community Media LLC is a community newspaper business that operates numerous paid daily and weekly papers.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-02-06 American Laser Skincare

Farmington Hills, Michigan, United States

American Laser Skincare is a provider of hair removal and skin rejuvenation services. American Laser Skincare was founded in 2002 and is based in Farmington Hills, Michigan.

Buy -
Buyer

Crystal Capital

Boston, Massachusetts, United States

Category Private Equity Firm
Founded 2006
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Crystal Capital is an affiliate of Crystal Financial Corporation, Crystal Capital is a private investment firm that provides debt and equity capital to middle-market companies. Crystal Capital does not have an industry preference in evaluating opportunities, but looks to provide a minimum of $1 million in equity (co-investment) or $10 million in junior capital per transaction. Target companies typically generate sales of at least $150 million and EBITDA of $15 million. Crystal Capital was formed in 2006 and is based in Boston, Massachusetts with additional offices in Los Angeles, California; Stamford, Connecticut; and Chicago, Illinois.


DEAL STATS #
Overall 21 of 32
Sector: Business Services M&A 3 of 5
Type: Special Situations/Distressed M&A Deals 3 of 4
State: North Carolina M&A 1 of 2
Country: United States M&A 19 of 27
Year: 2011 M&A 7 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-06-27 Avon Automotive Holdings

Cadillac, Michigan, United States

Avon Automotive is a global manufacturer of engineered rubber and polymer products with four primary product lines: fuel hose; coolant hose; air hose; and vibration management systems. The company serves the automotive, heavy truck, small engine and recreational vehicle industries in North America and Europe.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-09-25 Transportation Management Services

Sandy Spring, Maryland, United States

Transportation Management Services (TMS), headquartered in Sandy Springs, MD, is a leading transportation management firm and provides transportation services through its two primary divisions: (i) Logistics Operations which provides transportation planning and operational support to state and federal government agencies as well as a wide range of private companies for corporate events, trade shows, sporting events and cruise lines (ii) Bus Operations which provides shuttle services and local sightseeing and is a Top 10 bus operator with over 250 vehicles.

Buy -