M&A Deal Summary

Wincove Private Holdings and Pine Street Capital Partners Acquire Adaptec Solutions

On April 22, 2016, private equity firm Wincove Private Holdings and mezzanine finance firm Pine Street Capital Partners acquired machinery company Adaptec Solutions

Acquisition Highlights
  • This is Wincove Private Holdings’ 1st and Pine Street Capital Partners’ 3rd transaction in the Machinery sector.
  • This is Wincove Private Holdings’ 6th and Pine Street Capital Partners’ 27th transaction in the United States.
  • This is Wincove Private Holdings’ 2nd and Pine Street Capital Partners’ 5th transaction in New York.

M&A Deal Summary
Date 2016-04-22
Target Adaptec Solutions
Sector Machinery
Buyer(s) Wincove Private Holdings
Pine Street Capital Partners
Deal Type Recapitalization

Target

Adaptec Solutions

Rochester, New York, United States
Adaptec Solutions is a designer, integrator, and value-added distributor of material handling and automation solutions for the grocery, food & beverage, industrial, personal care, and automotive markets. Adaptec Solutions was founded in 1977 and is based in Rochester, New York.

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Buyer(S) 2

Buyer

Wincove Private Holdings

New York, New York, United States

Investor Investor

Category Private Equity Firm
Founded 2008
Size Small
Type Sector Agnostic
DESCRIPTION

Wincove Private Holdings is an independent private equity firm that invests in smaller, profitable companies in partnership with management. Wincove looks to support family and/or seller succession transactions, recapitalizations, management buyouts, consolidations, and corporate divestitures. Wincove is a generalist firm, and will consider opportunities in a variety of industries. The Firm targets companies located in the US and Canada. Prospective companies typically have less then $50 million in revenue. Wincove Private Holdings was formed in 2008 and is based in New York City.

DEAL STATS #
Overall 6 of 18
Sector (Machinery) 1 of 1
Type (Recapitalization) 2 of 7
State (New York) 2 of 3
Country (United States) 6 of 18
Year (2016) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-08-04 PSI Molded Plastics

Wolfeboro, New Hampshire, United States

PSI Molded Plastics is a manufacturer of medium to large, customized and highly aesthetic plastic injection molded products utilizing structural foam, gas assist, and straight injection processes. PSI Molded Plastics is based in Wolfeboro, New Hamphire.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-05-23 Integrated Warehouse Solutions

Fort Worth, Texas, United States

Integrated Warehouse Solutions is a manufacturer of material handling equipment focused on enhancing the safety and efficiency of loading docks and warehouses. The Company’s products, which include yard ramps, dock boards, pit levelers, seals and shelters, safety barriers, mezzanines, lift tables, pallet trucks, and carts, are sold under the leading Bluff, Wesco, and Nordock brands. IWS serves virtually every end market throughout the U.S., Canada, Central and South America, and the Caribbean through a broad distributor network supported by production facilities in Texas, Pennsylvania, Ohio, and Ontario (Canada).

Buy -
Buyer

Pine Street Capital Partners

Albany, New York, United States

Investor Investor Investor Investor Investor

Category Mezzanine Finance Firm
Founded 2004
PE ASSETS 425M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Pine Street Capital Partners (PSCP) provides mezzanine capital to small and medium-sized private and public companies. PSCP will consider investments from $3 to $15 million in companies generating at least $10 million of sales. Target sectors include manufacturing, business services, consumer products, healthcare and media. PSCP prefers investments in the Northeast and Mid-Atlantic regions of the US, but will consider opportunities nationwide. Investment funds are typically used to support strategic acquisitions, growth, management and employee buyouts, and leveraged recapitalization. PSCP will not invest in the real estate, biotech and oil & gas industries. Pine Street Capital Partners was formed in 2004 and is based in Albany, New York.

DEAL STATS #
Overall 27 of 41
Sector (Machinery) 3 of 3
Type (Recapitalization) 5 of 7
State (New York) 5 of 7
Country (United States) 27 of 41
Year (2016) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-03-16 PowerTech Generators

Leesburg, Florida, United States

PowerTech Generators is a manufacturer of customized mobile generator sets. Power Tech engineers and assembles generator components to meet individual customer needs for generators typically providing output between 10 and 50 kilowatts. End markets for Power Tech’s products include mobile communications, service trucks, emergency vehicles, and military vehicles, among others. Power Tech sells domestically and internationally both directly to vehicle manufacturers and through distributors. PowerTech Generators was founded in 1989 and is based in Leesburg, Florida.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-10-18 Thermacore

Lancaster, Pennsylvania, United States

Thermacore, Inc. is specializes in the design, development and manufacturing of high performance thermal management systems and components for the computer, military, aerospace, energy conversion, medical, and telecommunications markets.

Sell -
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