M&A Deal Summary

Watervale Equity Partners and Farragut Capital Partners Acquire EMX Industries

On October 1, 2018, private equity firm Watervale Equity Partners and mezzanine finance firm Farragut Capital Partners acquired electrical equipment company EMX Industries

Acquisition Highlights
  • This is Watervale Equity Partners’ 1st and Farragut Capital Partners’ 2nd transaction in the Electrical Equipment sector.
  • This is Watervale Equity Partners’ 1st and Farragut Capital Partners’ 69th transaction in the United States.
  • This is Watervale Equity Partners’ 1st and Farragut Capital Partners’ 4th transaction in Ohio.

M&A Deal Summary

Date 2018-10-01
Target EMX Industries
Sector Electrical Equipment
Buyer(s) Watervale Equity Partners
Farragut Capital Partners
Deal Type Buyout (LBO, MBO, MBI)
Advisor(s) EC M&A (Financial)

Target

EMX Industries

Garfield Heights, Ohio, United States
EMX Industries is a manufacturer of sensors and controls for the access control industry and process automation applications for various industrial markets. The Company’s main product categories include photo eyes, vehicle detectors, color sensors, luminescence sensors, and other custom specialty sensors. EMX Industries was founded in 1987 and is based in Garfield Heights, Ohio.

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Buyer(S) 2

DESCRIPTION

Watervale Equity Partners is a private equity firm focused on control investments in growing lower middle-market companies. The Firm will consider profitable companies throughout North America valued up to $50 million. Sectors of interest include manufacturing, distribution, and consumer/industrial products. Watervale prefers market leading companies with high barriers to entry and conservative capital structures. Watervale Equity Partners is based in Cleveland, Ohio.


DEAL STATS #
Overall 1 of 4
Sector (Electrical Equipment) 1 of 2
Type (Buyout (LBO, MBO, MBI)) 1 of 2
State (Ohio) 1 of 2
Country (United States) 1 of 4
Year (2018) 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-03-02 Duke Manufacturing

Willoughby, Ohio, United States

Duke Manufacturing is a manufacturer of precision-machined components and assemblies used predominately by the aerospace & defense sector. Duke Manufacturing products are engineered, critical components being deployed in leading commercial and defense engine applications. Duke Manufacturing is based in Willoughby, Ohio.

Buy -
Buyer

Farragut Capital Partners

Chevy Chase, Maryland, United States

Investor Investor Investor Investor Investor


Category Mezzanine Finance Firm
Founded 2011
PE ASSETS 1.7B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Farragut Capital Partners LLC is a private investment firm that provides mezzanine and equity capital to help finance buyouts, generational transfers, growth capital financings, and recapitalizations. The Firm prefers asset-light businesses with unique and defensible market positions, stable business models, and reasonable capital expenditure and working capital needs. Sectors of interest include light and niche manufacturing, business services, distribution & logistics, and media. Farragut's target investment size is $2 to $10 million. Farragut Capital Partners was formed in 2011 and is based in Washington, District of Columbia.


DEAL STATS #
Overall 69 of 97
Sector (Electrical Equipment) 2 of 3
Type (Buyout (LBO, MBO, MBI)) 31 of 40
State (Ohio) 4 of 7
Country (United States) 69 of 97
Year (2018) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-09-27 Pharmacal

Jackson, Wisconsin, United States

Pharmacal is a manufacturer and distributor of consumer products to the outdoor recreation, first aid, and over-the-counter personal care and hygiene markets. The Company provides private-label products to the leading drug store and big-box retailers in addition to products sold under its own brands, which include MG217 psoriasis products, vH Essentials feminine care products, and Potable Aqua water purification tablets. Pharmacal was founded in 1896 and is based in Jackson, Wisconsin.

Buy $5M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-01-01 MajorKey Technologies

Oakbrook Terrace, Illinois, United States

MajorKey Technologies identity security partner to public- and private-sector clients, focused on securing access and improving governance to business-critical applications, cloud, and data resources. MajorKey Technologies was founded in 1998 and is based in Oakbrook Terrace, Illinois.

Buy -