M&A Deal Summary

Washington Equity Partners and Plexus Capital Acquire Accu-Tube

On August 21, 2018, private equity firms Washington Equity Partners and Plexus Capital acquired manufacturer Accu-Tube

Acquisition Highlights
  • This is Washington Equity Partners’ 2nd and Plexus Capital’s 6th transaction in the Manufacturing sector.
  • This is Washington Equity Partners’ 2nd and Plexus Capital’s 69th transaction in the United States.
  • This is Washington Equity Partners’ 1st and Plexus Capital’s 2nd transaction in Colorado.

M&A Deal Summary

Date 2018-08-21
Target Accu-Tube
Sector Manufacturing
Buyer(s) Washington Equity Partners
Plexus Capital
Deal Type Buyout (LBO, MBO, MBI)
Advisor(s) EdgePoint Capital Advisors (Financial)

Target

Accu-Tube

Denver, Colorado, United States
Accu-Tube is a manufacturer of quality standard and custom size stainless steel tubing. Sizes from small diameter hypodermic medical tubing .009" OD (.23mm) to .375"OD (9.35mm). Fabrication processes include welding, drawing, straightening, cutting, deburring, cleaning, bending, coiling, end-forming, beading, flaring, swaging, and others. Accu-Tube was founded in 1973 and is based in Denver, Colorado.

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Buyer(S) 2

DESCRIPTION

Washington Equity Partners is a private equity firm focused on opportunities in the aerospace, defense, industrial, software, and technology sectors. The Firm looks to invest $5 to $50 million of equity for controlling stakes in profitable companies with $3 to $15 million of EBITDA. Washington Equity Partners looks to help portfolio companies with a variety of growth/valuation creation strategies including acquisitions, operational improvements, recruiting, and access to capital markets. Washington Equity Partners was established in 2016 and is headquartered in McLean, Virginia.


DEAL STATS #
Overall 2 of 3
Sector (Manufacturing) 2 of 3
Type (Buyout (LBO, MBO, MBI)) 1 of 1
State (Colorado) 1 of 1
Country (United States) 2 of 3
Year (2018) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-11-21 Arc Drilling

Valley View, Ohio, United States

Arc Drilling is a provider of fast hole EDM, wire EDM, and sinker EDM manufacturing services. Arc Drilling is a long-time supplier to OEMs and Tier I suppliers in the industrial gas turbine, aerospace engine, and industrial markets. Arc Drilling has manufacturing operations in Cleveland, Greenville, South Carolina and Charleston, South Carolina. Arc Drilling was founded in 1961 and is based in Valley View, Ohio.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-02-03 Tube Bending

Apple Valley, California, United States

Tube Bending is a manufacturer and fabricator of tubing and tubing assemblies. Tube Bending’s vertically-integrated suite of capabilities includes tube bending, tube fabrication, machining, welding, brazing, assembly, design, inspection, and testing. Tube Bending is based in Apple Valley, California.

Buy -
Buyer

Plexus Capital

Charlotte, North Carolina, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1995
PE ASSETS 2.2B USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Plexus Capital is a private equity firm that invests in buyouts, acquisitions, recapitalizations and growth financings in the form of junior and/or equity capital. Plexus focuses on lower middle-market businesses located in the Mid-Atlantic and Southeast areas of the US. The Firm looks for businesses companies in the business services, consumer services, manufacturing, value-added distribution, and healthcare sectors with up to $2 to $15 million of cash-flow. Plexus Capital was formed in 1995 and is based in Charlotte, North Carolina.


DEAL STATS #
Overall 69 of 97
Sector (Manufacturing) 6 of 9
Type (Buyout (LBO, MBO, MBI)) 29 of 48
State (Colorado) 2 of 4
Country (United States) 69 of 97
Year (2018) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-06-04 Huseby

Charlotte, North Carolina, United States

Huseby is a national provider of court reporting and litigation support services to law firms and corporate legal departments. Huseby empowers the on-the-go attorney by bringing your office to your mobile device. Huseby was founded in 1974 and is based in Charlotte, North Carolina.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-10-01 Ticketech International

Long Island City, New York, United States

Ticketech International provides software and hardware point-of-sale systems to valet-based parking garage operators. Ticketech International was established in 1972 and is based in Long Island City, New York.

Buy -