M&A Deal Summary

WILsquare Capital Acquires Versare Solutions

On December 2, 2019, private equity firm WILsquare Capital acquired furniture company Versare Solutions from Convergent Capital Partners

Acquisition Highlights
  • This is WILsquare Capital’s 1st transaction in the Furniture sector.
  • This is WILsquare Capital’s 5th transaction in the United States.
  • This is WILsquare Capital’s 4th transaction in Minnesota.

M&A Deal Summary
Date 2019-12-02
Target Versare Solutions
Sector Furniture
Buyer(s) WILsquare Capital
Sellers(s) Convergent Capital Partners
Deal Type Secondary Buyout

Target

Versare Solutions

Minneapolis, Minnesota, United States
Versare Solutions a manufacturer and e-commerce-based marketer of branded space efficiency and acoustical products. The company offers portable room partitions, privacy screens, workstations, and sound dampening products for use in a wide variety of applications and settings including schools, religious organizations, and healthcare facilities. Its branded products are manufactured at its Minneapolis headquarters and customizable to suit the needs of a highly diverse customer base. Versare Solutions was founded in 2006 and is based in Minneapolis, Minnesota.

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Buyer(S) 1

Buyer

WILsquare Capital

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2015
Size Small
Type Sector Agnostic
DESCRIPTION

WILsquare Capital is a private equity firm focused on acquiring closely held lower middle-market companies. WILsquare will consider opportunities throughout the Midwest and South US and has a preference for businesses whose owners are looking for a partner to help pursue growth strategies. Sectors of interest include business services, technology products and services, distribution, niche manufacturing, and e-commerce. WILsquare Capital was formed in 2015 and is based in St. Louis, Missouri.

DEAL STATS #
Overall 5 of 10
Sector (Furniture) 1 of 1
Type (Secondary Buyout) 2 of 3
State (Minnesota) 4 of 4
Country (United States) 5 of 10
Year (2019) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-11-04 All Surfaces

Bloomington, Minnesota, United States

All Surfaces is a specialty distributor of flooring, flooring sundries, and carpet pad. All Surfaces has over 40 branch locations in 16 states throughout the Midwest and Plains. The company serves a diverse customer base of builders, remodelers, contractors, and installers with a leading selection of top flooring and flooring sundries vendors. All Surfaces is based in Bloomington, Minnesota.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-02-25 DCM Services

Bloomington, Minnesota, United States

DCM Services is a provider of tech-enabled estate receivables management solutions and SaaS software to multiple end markets, including financial services, healthcare, utilities, telecom, and others. DCM Services was founded in 1998 and is based in Bloomington, Minnesota.

Sell -

Seller(S) 1

SELLER

Convergent Capital Partners

Investor Investor Investor

Category Growth Capital Firm
Founded 1999
PE ASSETS 400M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Convergent Capital is a private investment firm that provides growth and debenture financing to late-stage growth companies. Convergent prefers to commit $3 to $12 million per transaction in businesses with at least $10 million in revenues. Convergent is a generalist investor and will consider businesses in a wide range of industries. Investment funds are typically used to assist growth, but the firm can also structure investments around buyouts, recapitalizations, consolidations, and add-on acquisitions. Convergent is licensed as a SBIC. Convergent Capital was formed in 1999 and is based in Minneapolis, Minnesota.

DEAL STATS #
Overall 39 of 42
Sector (Furniture) 1 of 1
Type (Secondary Buyout) 8 of 8
State (Minnesota) 9 of 9
Country (United States) 39 of 42
Year (2019) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-04-25 Custom Profile

Grand Rapids, Michigan, United States

Custom Profile is a manufacturer of plastic profile extruded products primarily for the office furniture, appliance, medical, recreational and RV industry, and point-of-purchase markets. Custom Profile has diverse and flexible manufacturing capabilities with the ability to satisfy a variety of customer demand requirements. Custom Profile was founded in 1992 and is based in Grand Rapids, Michigan.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-01-01 Clinkenbeard

South Beloit, Illinois, United States

Clinkenbeard & Associates, Inc. offers prototyping and production of complex cast and machined parts for the aerospace, heavy truck, industrial, power generation, and agriculture markets. Clinkenbeard produces part quantities that range from a single unit to low volume production. Clinkenbeard & Associates was founded in 1966 and is based in South Beloit, Illinois.

Sell -
Mergr

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