M&A Deal Summary

Weston Presidio Acquires Summit Energy Services

On September 7, 2007, private equity firm Weston Presidio acquired energy services and equipment company Summit Energy Services from Cornerstone Holdings

Acquisition Highlights
  • This is Weston Presidio’s 1st transaction in the Energy Services and Equipment sector.
  • This is Weston Presidio’s 30th transaction in the United States.
  • This is Weston Presidio’s 1st transaction in Kentucky.
Investment Fate
  • Summit Energy Services was sold to a strategic buyer in 2011 for 268M USD.

M&A Deal Summary

Date 2007-09-07
Target Summit Energy Services
Sector Energy Services and Equipment
Buyer(s) Weston Presidio
Sellers(s) Cornerstone Holdings
Deal Type Recapitalization

Target

Summit Energy Services

Louisville, Kentucky, United States
Summit Energy Services, Inc. is a provider of risk management, energy procurement, and sustainability services to more than 150 large industrial and commercial clients.

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Buyer(S) 1

Buyer

Weston Presidio

Boston, Massachusetts, United States

Category Private Equity Firm
Founded 1991
PE ASSETS 3.3B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Weston Presidio is a private investment firm focused on providing growth capital to later stage companies. The Firm looks to commit $10 to $50 million per investment to support growth initiatives, recapitalizations, and management-led buyouts. Sectors of interest include consumer products/services, business services, manufacturing and industrial, media/publishing, healthcare and technology. The Firm prefers to act as the lead investor, but will consider investing in select non-control minority positions. Weston Presidio was formed in 1991 and is based in Boston, Massachusetts.


DEAL STATS #
Overall 31 of 43
Sector: Energy Services and Equipment M&A 1 of 1
Type: Recapitalization M&A Deals 4 of 4
State: Kentucky M&A 1 of 1
Country: United States M&A 30 of 41
Year: 2007 M&A 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-08-14 HerbalScience Group

Naples, Florida, United States

HerbalScience is a leading nutraceutical ingredient supplier that has developed an advanced, proprietary, and environmentally-friendly extraction technology which enables the production of dose-to-dose reliable whole botanical extracts. The dose-effective HerbalScience extracts maintain the natural synergy of a plant?s chemical makeup while enhancing its medicinal effectiveness.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-10-03 Apple & Eve

Port Washington, New York, United States

Apple & Eve is the privately held producer of 100% fruit juice products in the United States. The company offers more than one hundred different juice products sold under a number of brands including Apple & Eve, Apple & Eve Organics, Sesame Street, Northland, and Seneca. The Company’s products are sold through a variety of channels including grocery, club, mass merchandise, convenience and foodservice.

Sell -

Seller(S) 1

SELLER

Cornerstone Holdings

Denver, Colorado, United States

Investor Investor Investor Investor


Category Family Office
Size Small
Type Sector Agnostic
DESCRIPTION

Cornerstone Holdings is a family backed private investment firm focused on direct company investments as well as real estate opportunities. Within its direct investment practice, Cornerstone generally targets growth oriented companies with $2 to $40 million of sales and $1 to $5 million of EBITDA. The Firm's target investment size is $4 to $15 million. Cornerstone prefers prefers majority equity ownership positions or outright control when investing. Prospective transaction situation includes recapitalizations, LBOs, MBOs, and growth capital financings. Cornerstone Holdings is based in Denver, Colorado.


DEAL STATS #
Overall 4 of 8
Sector: Energy Services and Equipment M&A 1 of 1
Type: Recapitalization M&A Deals 1 of 1
State: Kentucky M&A 1 of 1
Country: United States M&A 4 of 8
Year: 2007 M&A 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-08-30 Zavata

Conshohocken, Pennsylvania, United States

Zavata, a voice tech help desk provider to large enterprise customers, was acquired in by Apollo Health Street (AHS), a global healthcare outsourcing solutions provider.

Sell Rs700M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2010-01-04 Silver Creek Systems

Westminster, Colorado, United States

Silver Creek Systems is the leading provider of Product Data Mastering tools and technology. While traditional tools founder on the complexity and variability of product data, Silver Creek Systems uses breakthrough semantic technology to allow companies to ‘master’ their product data quickly and more efficiently than ever before — reducing costs and driving efficiencies across the business.

Sell -