M&A Deal Summary

WestBridge Capital Acquires Federal Steel Supply

On March 23, 2023, private equity firm WestBridge Capital acquired distribution company Federal Steel Supply from V&A Capital

Acquisition Highlights
  • This is WestBridge Capital’s 2nd transaction in the Distribution sector.
  • This is WestBridge Capital’s 7th transaction in the United States.
  • This is WestBridge Capital’s 1st transaction in Missouri.

M&A Deal Summary

Date 2023-03-23
Target Federal Steel Supply
Sector Distribution
Buyer(s) WestBridge Capital
Sellers(s) V&A Capital
Deal Type Secondary Buyout
Advisor(s) BGL Capital (Financial)

Target

Federal Steel Supply

Chesterfield, Missouri, United States
Federal Steel Supply is a distributor of industrial products including pipes, fittings, flanges, and valves. Federal Steel Supply was founded in 1979 and is based in Chesterfield, Missouri.

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Buyer(S) 1

DESCRIPTION

WestBridge Capital is a generalist investment firm focused on lower middle-market company acquisitions throughout North America. The Firm is industry agnostic and seeks profitable business ($2 to $10 million of EBITDA) with strong management already in place. WestBridge Capital is headquartered in Saskatoon, Saskatchewan.


DEAL STATS #
Overall 12 of 13
Sector (Distribution) 2 of 2
Type (Secondary Buyout) 1 of 1
State (Missouri) 1 of 1
Country (United States) 7 of 7
Year (2023) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-07-07 Intimo Industry

Vernon, California, United States

Intimo Industry is a seamless knitwear & compression apparel manufacturer. Intimo Industry was founded in 2003 is based in Vernon, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-08-02 Berg

Toronto, Ontario, Canada

Berg offers associated engineering and fabrication business that builds solutions for a broad range of industrial chilling applications including garbage bag manufacturing, ice production for fishing fleets, chilling of natural gas in energy production, and chilling for high-intensity specialized computing applications. It installs and services these solutions once they have been manufactured along with various other industrial and commercial cooling solutions, creating a steady annuity business. Berg is based in Toronto, Ontario.

Buy -

Seller(S) 1

SELLER
DESCRIPTION

V&A Capital is a private equity firm focused on acquiring lower middle-market companies with at least $10 million of revenue and valued up to $75 million. Sectors of interest include manufacturing, industrials, consumer goods, packaging, business services, and transportation. Prospective transaction types include founder-owned company acquisitions, family successions, traditional buyouts, and divestitures. V&A Capital is headquartered in New York City.


DEAL STATS #
Overall 1 of 2
Sector (Distribution) 1 of 1
Type (Secondary Buyout) 1 of 1
State (Missouri) 1 of 1
Country (United States) 1 of 2
Year (2023) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-09-30 SinterMet

Kittanning, Pennsylvania, United States

SinterMet develops and manufactures tungsten carbide, titanium carbide, and ceramic rolls for bar, rod, and wire rolling in ferrous and nonferrous rolling mills. SinterMet was founded in 1975 and is based in Kittanning, Pennsylvania.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-07-30 Precision Kidd Steel

Aliquippa, Pennsylvania, United States

Precision Kidd Steel is an independent manufacturer of drill rod tool steel in the U.S. and processes approximately 30 million pounds of steel-based products annually, supplies its broad range of products to a wide and diversified customer base operating in different markets, including automotive, oil & gas, hand and power tools, power generation, machinery, textile and aerospace. Precision Kidd Steel was founded in 1885 and is based in Aliquippa, Pennsylvania.

Sell -