M&A Deal Summary

Willis & Smith Capital and First Capital Partners Acquire J&E

On July 21, 2022, private equity firm Willis & Smith Capital and mezzanine finance firm First Capital Partners acquired manufacturer J&E

Acquisition Highlights
  • This is Willis & Smith Capital’s 2nd and First Capital Partners’ 6th transaction in the Manufacturing sector.
  • This is Willis & Smith Capital’s 3rd and First Capital Partners’ 31st transaction in the United States.
  • This is Willis & Smith Capital’s 1st and First Capital Partners’ 2nd transaction in Minnesota.

M&A Deal Summary

Date 2022-07-21
Target J&E
Sector Manufacturing
Buyer(s) Willis & Smith Capital
First Capital Partners
Deal Type Buyout (LBO, MBO, MBI)
Advisor(s) Fredrikson & Byron (Legal)

Target

J&E

Plymouth, Minnesota, United States
J&E provides precision fabrication and machining services to a highly diversified client base including, among others, those in the medical, aerospace, commercial, and agricultural industries. J&E was formed in 1972 and is based in Plymouth, Minnesota.

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Buyer(S) 2

DESCRIPTION

Willis & Smith Capital is a private equity firm focused on partnering with business owners or management in need of capital for growth, succession, or to support a corporate carve-out. The Firm will consider companies throughout the US with $10 to $20 million of revenue and up to $15 million of EBITDA. Sectors of interest include manufacturing, distribution, industrial services, engineering, and construction. Willis & Smith Capital is headquartered in Plano, Texas.


DEAL STATS #
Overall 3 of 4
Sector (Manufacturing) 2 of 2
Type (Buyout (LBO, MBO, MBI)) 2 of 3
State (Minnesota) 1 of 1
Country (United States) 3 of 4
Year (2022) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-02-07 R&B Grinding

Racine, Wisconsin, United States

R&B Grinding is a manufacturer of machined components to a variety of industrial customers, including Fortune 500 original equipment manufacturers. R&B Grinding was formed in 1958 and is based in Racine, Wisconsin.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-08-07 Performance Stamping

Carpentersville, Illinois, United States

Performance Stamping is a metal stamping provider to industrial customers, including domestic and international original equipment manufacturers in a variety of industries, including appliance, automotive, water treatment, oil & gas, utilities, industrial services, and HVAC. Performance Stamping was founded in 1940 and is based in Carpentersville, Illinois.

Buy -
Buyer

First Capital Partners

Omaha, Nebraska, United States

Investor Investor Investor Investor Investor


Category Mezzanine Finance Firm
Founded 2006
PE ASSETS 241M USD
Size Small
Type Sector Agnostic
DESCRIPTION

First Capital Partners is an Omaha, Nebraska-based private investment firm that provides equity and subordinated debt financing to lower middle-market companies. First targets businesses with revenues of $10 to $100 million and EBITDA up to $10 million. Investments are generally used to fund management buyouts, growth capital financings, recapitalizations, divestitures, and generational transfers of ownership. Broad areas of interest include manufacturing, business services, and value-added distribution. First Capital will not invest in startups, early stage companies, high technology, real estate, or retail. First Capital Partners is based in US.


DEAL STATS #
Overall 31 of 33
Sector (Manufacturing) 6 of 7
Type (Buyout (LBO, MBO, MBI)) 8 of 9
State (Minnesota) 2 of 2
Country (United States) 31 of 33
Year (2022) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-05-24 Motis Brands

Germantown, Wisconsin, United States

Motis Brands manufactures and distributes active brands in the loading, hauling, mobility, and automotive segments. The company's three divisions, Discount Ramps, Race Ramps, and Heavy Duty Ramps, combine to offer patented product designs and proprietary manufacturing processes with broad distribution and eCommerce expertise. Motis Brands is based in Germantown, Wisconsin.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-08-23 RKD Group

Richardson, Texas, United States

RKD Group is a provider of omnichannel fundraising and marketing services for the nonprofit sector. RKD Group has raised billions of dollars for its clients and currently serves over 260 nonprofit organizations, within segments such as hospitals, social service, health, disease research, animal welfare, and faith-based charities. RKD Group was founded in 1970 and is based in Richardson, Texas.

Sell -