M&A Deal Summary

White Cap Acquires Form Tech Concrete Forms

On July 5, 2023, White Cap acquired manufacturer Form Tech Concrete Forms from Midwest Mezzanine Funds and Kirtland Capital Partners

Acquisition Highlights
  • This is White Cap’s 2nd transaction in the Manufacturing sector.
  • This is White Cap’s 8th transaction in the United States.
  • This is White Cap’s 1st transaction in Michigan.

M&A Deal Summary

Date 2023-07-05
Target Form Tech Concrete Forms
Sector Manufacturing
Buyer(s) White Cap
Sellers(s) Midwest Mezzanine Funds
Kirtland Capital Partners
Deal Type Add-on Acquisition

Target

Form Tech Concrete Forms

Walled Lake, Michigan, United States
Form Tech Concrete Forms is a construction services company focused on providing concrete forming and shoring rental solutions and related accessories to concrete subcontractors and general contractors. Form Tech Concrete Forms was founded in 1994 and is based in Walled Lake, Michigan.

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Buyer(S) 1

Buyer

White Cap

Norcross, Georgia, United States

Category Company
Founded 1976
Sector Distribution
DESCRIPTION

White Cap is a distributor of specialty concrete and construction products. White Cap serves as a one-stop shop providing concrete accessories and chemicals, tools and equipment, building materials and fasteners, erosion and waterproofing and safety products to professional contractors by meeting their distinct and customized supply needs in non-residential, residential and industrial applications. White Cap was formed in 1976 and is based in Norcross, Georgia.


DEAL STATS #
Overall 9 of 34
Sector: Manufacturing M&A 2 of 4
Type: Add-on Acquisition M&A Deals 8 of 33
State: Michigan M&A 1 of 3
Country: United States M&A 8 of 31
Year: 2023 M&A 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-10-03 Valley Supply

Woodinville, Washington, United States

Valley Supply is a provider of construction materials to residential and commercial contractors in the Puget Sound area. With six locations in Woodinville, Puyallup, Ellensburg, Silverdale, Tumwater, and Moses Lake, Valley Supply Company offers an expanded product line to serve customers in Western and Central Washington. Valley Supply was founded in 1972 and is based in Woodinville, Washington.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-08-01 Reno Hardware and Supply

Burbank, California, United States

Reno Hardware and Supply is a distributor of construction supplies serving commercial, multi-family and residential contractors throughout Southern California. Reno Hardware and Supply is based in Burbank, California.

Buy -

Seller(S) 2

SELLER

Midwest Mezzanine Funds

Chicago, Illinois, United States

Investor Investor Investor Investor Investor


Category Mezzanine Finance Firm
Founded 1992
PE ASSETS 1.0B USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Midwest Mezzanine Funds (MMF) is a provider of junior capital to lower middle-market, US and Canadian companies. MMF looks to invest $4 to $15 million to support buyouts, acquisition financings, recapitalizations, and growth capital needs. Prospective companies generally have consistent profits ($3 million of EBITDA), low capital intensity, and sustainable competitive advantages. Broad areas of interest include manufacturing, value-added distribution, and services. MMF will not invest in high technology, energy, or real estate. Midwest Mezzanine was formed in 1992 and has offices in Chicago and Monroe, Michigan.


DEAL STATS #
Overall 54 of 58
Sector: Manufacturing M&A 4 of 4
Type: Add-on Acquisition M&A Deals 23 of 25
State: Michigan M&A 6 of 6
Country: United States M&A 53 of 57
Year: 2023 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-11-28 Transhield

Elkhart, Indiana, United States

Transhield designs and manufactures highly engineered environmental protective and corrosion-inhibiting covers that protect boats, vehicles, military equipment, and equipment during storage and transportation. Transhield was founded in 1994 and is based in Elkhart, Indiana.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-01-02 Vapor Power International

Franklin Park, Illinois, United States

Vapor Power International is a manufacturer of industrial and commercial steam generators. Vapor offers specialized industrial steam water-tube boilers, electric boilers, and thermal fluid heaters custom-made to order manufacturing processes requiring high-pressure heat/power. Vapor Power International was founded in 1903 and is based in Franklin Park, Illinois.

Sell -
SELLER

Kirtland Capital Partners

Orange Village, Ohio, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1977
PE ASSETS 300M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Kirtland Capital Partners (KCP) is a private equity firm focused on acquiring mature businesses operating in the US or Canada. KCP looks to be the lead investor in control positions in companies with significant barriers to entry, stable cash flows, and a strong market position. Sectors of interest include niche manufacturing, distribution, and business-to-business service companies. Kirtland was formed in 1977 and is based in Beachwood, Ohio.


DEAL STATS #
Overall 23 of 23
Sector: Manufacturing M&A 4 of 4
Type: Add-on Acquisition M&A Deals 10 of 10
State: Michigan M&A 1 of 1
Country: United States M&A 23 of 23
Year: 2023 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-12-23 Enviroscience

Stow, Ohio, United States

Enviroscience provides biomonitoring, environmental compliance, restoration, and commercial diving services to federal, state, and municipal governments, the power industry, manufacturing, and private clients throughout the U.S. and Canada. Enviroscience was founded in 1988 and is based in Stow, Ohio.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-08-01 Galati Cheese

Windsor, Ontario, Canada

Galati Cheese is a manufacturer of mozzarella, ricotta, and other artisan cheese. The company serves a diverse customer base, consisting of retailers, distributors and direct foodservice accounts, primarily independently owned pizzerias. Galati Cheese was founded in 1988 and is based in Windsor, Ontario.

Buy -