M&A Deal Summary

Wellspring Capital Management and Antares Capital Acquire SupplyOne

On February 5, 2018, private equity firms Wellspring Capital Management and Antares Capital acquired packaging company SupplyOne from MVP Capital Partners and Stephens Capital Partners

Acquisition Highlights
  • This is Wellspring Capital Management’s 4th and Antares Capital’s 1st transaction in the Packaging sector.
  • This is Wellspring Capital Management’s 36th and Antares Capital’s 39th transaction in the United States.
  • This is Wellspring Capital Management’s 3rd and Antares Capital’s 3rd transaction in Pennsylvania.

M&A Deal Summary

Date 2018-02-05
Target SupplyOne
Sector Packaging
Buyer(s) Wellspring Capital Management
Antares Capital
Sellers(s) MVP Capital Partners
Stephens Capital Partners
Deal Type Secondary Buyout

Target

SupplyOne

Newtown Square, Pennsylvania, United States
SupplyOne is a specialty packaging manufacturer and consumable industrial supplies distributors. SupplyOne offers a total systems approach to packaging solutions from design and manufacturing of custom corrugated boxes, engineered protective packaging, load unitizing and product identification labels. SupplyOne was founded in 1998 and is based in Newtown Square, Pennsylvania.

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Buyer(S) 2

Buyer

Wellspring Capital Management

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1995
PE ASSETS 4.5B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Wellspring Capital Management is a mega-sized private equity firm that focused on a variety of transaction situations. The Firm will consider buyouts of private companies, acquisitions of divisions or subsidiaries of public companies, shareholder liquidity needs, partnering with entrepreneurs for growth opportunities, and special situations. Wellspring does not have any sector preferences and is capable of pursuing transactions valued up to $1 billion. Wellspring Capital Management was formed in 1995 and is based in New York City.


DEAL STATS #
Overall 41 of 53
Sector (Packaging) 4 of 5
Type (Secondary Buyout) 15 of 22
State (Pennsylvania) 3 of 4
Country (United States) 36 of 48
Year (2018) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-06-05 Crosman

Bloomfield, New York, United States

Crosman Corp. is a manufacturer of airguns and accessories. Crosman offers a complete line of airguns, paintball guns, slingshots, targets, and other accessories under the brand names of Crosman, Benjamin, Sheridan, and Copperhead. Crosman was established in 1923 and is based in Bloomfield, New York.

Sell $152M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-01-14 API Heat Transfer

Buffalo, New York, United States

API Heat Transfer is a designer and manufacturer of a wide range of heat transfer technologies that service virtually every industrial market including food and beverage, dairy, compressors, air separation, chemical processing, mobile vehicles, power generation, pharmaceuticals, HVAC, and a wide variety of general industrial applications.

Sell -
Buyer

Antares Capital

Miami, Florida, United States

Investor Investor


Category Private Equity Firm
Founded 1993
Size Small
Type Sector Agnostic
DESCRIPTION

Antares Capital is a private investment group that targets growth capital financings as well as management buyout opportunities. The Firm focuses on investments based in the Southeast US and Texas. Prospective companies generally have proven business models, modest capital requirements for growth, and operate in large and growing markets. The Firm looks to commit $500k to $5 million per investment. Antares will not invest in real estate, mineral exploration, distributors, franchisees, or project financings. Antares was founded in 1993 and is based in Miami, Florida.


DEAL STATS #
Overall 40 of 55
Sector (Packaging) 1 of 1
Type (Secondary Buyout) 23 of 30
State (Pennsylvania) 3 of 3
Country (United States) 39 of 54
Year (2018) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-01-01 G.E.T. Enterprises

Jersey Village, Texas, United States

G.E.T. Enterprises is a provider of premium-quality, creative alternative tabletop solutions to the foodservice industry. G.E.T. Enterprises was founded in 1984 and is based in Jersey Village, Texas.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-06-01 Alcami

Wilmington, North Carolina, United States

Alcami is a fully-integrated end-to-end contract development and manufacturing organization. Alcami serves pharmaceutical and biotech companies of all sizes providing customizable and innovative solutions for analytical development, clinical to commercial sterile and oral solid manufacturing, packaging, microbiology, cGMP biostorage, environmental monitoring, and pharmaceutical support services. Alcami was founded in 1979 and is based in Wilmington, North Carolina.

Sell -

Seller(S) 2

SELLER

MVP Capital Partners

Radnor, Pennsylvania, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1985
PE ASSETS 200M USD
Size Small
Type Sector Agnostic
DESCRIPTION

MVP Capital Partners is a private equity firm focuses on investing in middle market companies with $10-100 million in revenues through buyouts, recapitalizations and expansion capital financing and providing growth capital investments in later stage businesses as well as equity financing to support acquisitions and recapitalization. MVP generally looks at US-based companies valued up to $100 million. Target sectors include aviation, business/financial services, healthcare, niche manufacturing, publishing/media, and specialty retail/consumer. MVP Capital Partners was formed in 1987 and is located in Radnor, Pennsylvania.


DEAL STATS #
Overall 13 of 13
Sector (Packaging) 1 of 1
Type (Secondary Buyout) 5 of 5
State (Pennsylvania) 4 of 4
Country (United States) 13 of 13
Year (2018) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-03-11 Global Medical Response

Greenwood Village, Colorado, United States

Global Medical Response is a provider of medical transportation services formed by bringing together Air Medical Group Holdings (AMGH) and American Medical Response (AMR). Global Medical Response was founded in 2004 and is based in Greenwood Village, Colorado.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-11-02 Spread Bagelry

Philadelphia, Pennsylvania, United States

Spread Bagelry is an operator of a chain of restaurants that make Montreal-style bagels made in wood-burning ovens. Spread Bagelry bagels and creative sandwiches to customers throughout the country with the store and direct sales. Spread Bagelry currently has five stores and is expanding rapidly. Spread Bagelry was founded in 2010 and is based in Philadelphia, Pennsylvania.

Buy -
SELLER

Stephens Capital Partners

Little Rock, Arkansas, United States

Investor Investor Investor Investor Investor


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

Stephens Capital Partners is the direct, private equity investment arm of financial services firm Stephens, Inc. Stephens Capital looks to acquire minority or majority stakes in mid-sized, profitable companies in partnership with management. The Firm will consider opportunities throughout the US valued between $50 and $200 million. Stephens Capital will not consider venture investments or turnaround situations. Stephens Capital Partners is based in Little Rock, Arkansas.


DEAL STATS #
Overall 26 of 40
Sector (Packaging) 1 of 1
Type (Secondary Buyout) 10 of 15
State (Pennsylvania) 1 of 2
Country (United States) 26 of 39
Year (2018) 1 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-01-01 Encore Concrete Construction

Spring, Texas, United States

Encore Concrete Construction is a commercial concrete contractor in the Greater Houston area. Encore Concrete Construction was established in 2017 and is based in Spring, Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-03-15 Royston

Jasper, Georgia, United States

Royston is a designer, manufacturer and installer of custom check-out and merchandising fixtures and equipment. The company’s core customer base consists of convenience store, grocery and mass-merchandise chains across North America. Royston was founded in 1869 and is based in Jasper, Georgia.

Sell -