Secondary Buyout • Consumer Services

Waud Capital Partners Exits Aquion

On December 1, 2013, private equity firm Mason Wells invested in consumer services company Aquion from Waud Capital Partners

Investment Context
  • This is Mason Wells’ 1st transaction in the Consumer Services sector.
  • This is Mason Wells’ 21st transaction in the United States.
  • This is Mason Wells’ 3rd transaction in Illinois.
Investment Fate
  • Aquion was sold to a publicly-traded strategic buyer in 2019 for 160M USD.

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Investment Summary

Date December 1, 2013
Target Aquion
Sector Consumer Services
Investor(s) Mason Wells
Sellers(s) Waud Capital Partners
Deal Type Secondary Buyout

Target Company

Aquion

Elk Grove Village, Illinois, United States
Aquion, Inc. is a manufacturer and marketer of premium water treatment equipment and water quality solutions that serve a variety of markets around the world. We have been manufacturing water treatment equipment. Aquion was founded in 1953 and is based in Elk Grove Village, Illinois.
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Investor Overview 1

Investor

Mason Wells

Milwaukee, Wisconsin, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1998
PE ASSETS 2.4B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Mason Wells is a private equity firm focused on middle-market buyout opportunities in the Midwest US. Mason Wells looks to invest in businesses operating in engineered products and services, outsourced business services, and specialty packaging. Target companies typically generate revenue of $25 to $300 million and EBITDA of at least $5 million. The Firm prefers businesses with high barriers to entry, limited customer concentration, and strong market positions. Mason Wells was originally formed 1982 as a subsidiary of Marshall & Ilsley Corporation and became an independent firm in 1998. Mason Wells is based in Milwaukee, Wisconsin.


Deal Context for Investor #
Overall 21 of 40
Sector: Consumer Services 1 of 1
Type: Secondary Buyout 2 of 3
State: Illinois 3 of 6
Country: United States 21 of 40
Year: 2013 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-12-18 Quantix

Woodlands, Texas, United States

Quantix is a provider of dry bulk transportation, packaging, distribution and logistics solutions to numerous multinational companies within the chemical and plastic industries. Quantix was founded in 1965 and is based in the Woodlands, Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-12-06 Nelipak Healthcare Packaging

Cranston, Rhode Island, United States

Nelipak Healthcare Packaging is a global manufacturer of custom-designed rigid healthcare packaging used for Class II and Class III medical devices, and pharma drug delivery products. The company operates strategically located cleanroom facilities meeting customers’ most stringent packaging requirements. Nelipak’s experienced in-house design, development, prototyping, manufacturing and quality teams offer medical trays and blisters, surgical procedure trays, pharmaceutical handling trays, custom built sealing machines and other value-added services. Nelipak Healthcare Packaging was founded in 1953 and is based in Cranston, Rhode Island.

Buy $125M

Seller Profile 1

SELLER

Waud Capital Partners

Chicago, Illinois, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1993
PE ASSETS 3.2B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Waud Capital Partners is a private equity firm that pursues investments in mid-sized manufacturing, distribution and service companies. Waud looks for businesses with proven management, operating in well defined markets, and that demonstrate strong growth potential. The Firm typically invests $75 to $200 million. Specific areas of interest include adhesives, air/water treatment, alarm monitoring, auto components, coatings, consumer products, home healthcare services, hospitals, lighting, litigation support, medical distribution, petroleum distribution, pharmaceuticals, publishing, sealants, specialty hospitals, and tax consultants. Prospective transaction situations include buyouts, recapitalizations and industry consolidations. Waud Capital Partners was established in 1993 and is based in Chicago, Illinois.


Deal Context for Seller #
Overall 13 of 27
Sector: Consumer Services 1 of 2
Type: Secondary Buyout 2 of 9
State: Illinois 4 of 6
Country: United States 12 of 26
Year: 2013 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-08-20 Optimum Outcomes

Downers Grove, Illinois, United States

Optimum Outcomes, Inc. is a provider of account resolution services to hospitals and hospital-based physician groups throughout the United States. With proprietary technology, tools and processes, RCS specializes in providing self-pay follow-up services and resolution of insurance claims for hospitals.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-06-10 National Security Partners

Arlington, Virginia, United States

National Security Partners LLC is a provider of full mission support to federal agencies tasked with protecting American lives and interests at home and abroad. NSP’s services include geospatial technology, web development, big data and scalable solutions, and full spectrum cyber operations.

Sell -