M&A Deal Summary

Willis & Smith Capital and First Capital Partners Acquire ZEVAC

On April 1, 2021, private equity firm Willis & Smith Capital and mezzanine finance firm First Capital Partners acquired energy services and equipment company ZEVAC

Acquisition Highlights
  • This is Willis & Smith Capital’s 1st and First Capital Partners’ 1st transaction in the Energy Services and Equipment sector.
  • This is Willis & Smith Capital’s 1st and First Capital Partners’ 26th transaction in the United States.
  • This is Willis & Smith Capital’s 1st and First Capital Partners’ 1st transaction in Oklahoma.

M&A Deal Summary

Date 2021-04-01
Target ZEVAC
Sector Energy Services and Equipment
Buyer(s) Willis & Smith Capital
First Capital Partners
Deal Type Recapitalization

Target

ZEVAC

Tulsa, Oklahoma, United States
ZEVAC manufactures, sells and rents equipment to large utilities and pipeline operators to perform regulatory-mandated and routine maintenance services. ZEVAC is based in Tulsa, Oklahoma.

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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 1 of 4
Sector (Energy Services and Equipment) 1 of 1
Type (Recapitalization) 1 of 1
State (Oklahoma) 1 of 1
Country (United States) 1 of 4
Year (2021) 1 of 1
FOLLOWING 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 -
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 26 of 33
Sector (Energy Services and Equipment) 1 of 1
Type (Recapitalization) 8 of 9
State (Oklahoma) 1 of 1
Country (United States) 26 of 33
Year (2021) 1 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-12-01 Calcium Products

Ames, Iowa, United States

Calcium Products produces pelletized limestone and calcium for agriculture and commercial applications. Calcium Products was founded in 1987 and is based in Ames, Iowa.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-04-15 Advantage Engineers

Columbia, Maryland, United States

Advantage Engineers LLC specialized in telecommunications, environmental and geotechnical engineering and consulting services for various end markets. Services offered include, but are not limited to, telecom site acquisition and engineering, laboratory and material testing, design and construction phase investigations and site assessments. Advantage Engineers was founded in 2001 and is based in Mechanicsburg, Pennsylvania.

Sell -