M&A Deal Summary

Wind Point Partners and Antares Capital Acquire Warehouse On Wheels

On June 2, 2021, private equity firms Wind Point Partners and Antares Capital acquired business services company Warehouse On Wheels from Milton Street Capital

Acquisition Highlights
  • This is Wind Point Partners’ 2nd and Antares Capital’s 5th transaction in the Business Services sector.
  • This is Wind Point Partners’ 67th and Antares Capital’s 46th transaction in the United States.
  • This is Wind Point Partners’ 1st and Antares Capital’s 1st transaction in Kentucky.

M&A Deal Summary

Date 2021-06-02
Target Warehouse On Wheels
Sector Business Services
Buyer(s) Wind Point Partners
Antares Capital
Sellers(s) Milton Street Capital
Deal Type Secondary Buyout

Target

Warehouse On Wheels

Fort Mitchell, Kentucky, United States
Warehouse On Wheels is a provider of trailer rental solutions to manufacturing, distribution and 3PL customers. The Company owns and manages a fleet of over 16,000 units including dry van trailers, containers, flatbeds, and chassis, operating via 19 branches throughout the Midwest, South and Southwest U.S. Warehouse On Wheels was founded in 2017 and is based in Fort Mitchell, Kentucky.

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Buyer(S) 2

Buyer

Wind Point Partners

Chicago, Illinois, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1984
PE ASSETS 7.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Wind Point Partners is a private equity firm focused on acquisitions of mid-sized companies operating in the business services, consumer products, healthcare services, and industrial products sectors. Wind Point looks to invest $60 to $130 million in companies valued up to $500 million. Prospective transaction types include leveraged buyouts, recapitalizations, industry consolidations, and growth capital financings. Wind Point Partners began investing in 1984 and is based in Chicago.


DEAL STATS #
Overall 72 of 82
Sector (Business Services) 2 of 2
Type (Secondary Buyout) 20 of 27
State (Kentucky) 1 of 1
Country (United States) 67 of 75
Year (2021) 3 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-04-08 Zone Mechanical

Alsip, Illinois, United States

Zone Mechanical is a provider of refrigeration and HVAC mechanical services to the grocery, convenience store and warehouse industries. Zone Mechanical was founded in 2002 and is based in Alsip, Illinois.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-06-30 Pestell Nutrition

New Hamburg, Ontario, Canada

Pestell Nutrition is a distributor of animal feed minerals, ingredients, and additives in Canada, offering hundreds of distinct products. PMI supplies hundreds of customers throughout Canada and the United States through its own dedicated warehouses and internal fleet, as well as third-party warehouses and logistics providers. It is a full-line manufacturer of cat litter and small animal bedding products serving customers in Canada and the United States.

Sell -
Buyer

Antares Capital

Miami, Florida, United States

Investor Investor


Category Private Equity Firm
Founded 1993
Size Small
Type Sector Agnostic
DESCRIPTION

Antares Capital is a private investment group that targets growth capital financings as well as management buyout opportunities. The Firm focuses on investments based in the Southeast US and Texas. Prospective companies generally have proven business models, modest capital requirements for growth, and operate in large and growing markets. The Firm looks to commit $500k to $5 million per investment. Antares will not invest in real estate, mineral exploration, distributors, franchisees, or project financings. Antares was founded in 1993 and is based in Miami, Florida.


DEAL STATS #
Overall 47 of 55
Sector (Business Services) 5 of 6
Type (Secondary Buyout) 28 of 30
State (Kentucky) 1 of 1
Country (United States) 46 of 54
Year (2021) 1 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-02-16 Hygiena

Camarillo, California, United States

Hygiena LLC is a microbiology and life science company that serves industrial food processors, healthcare institutions, life science researchers and the general public. The Company manufactures and sells a broad range of rapid hygiene monitoring systems, environmental collection systems and rapid dilution devices. Its products are distributed in over 50 countries worldwide. Hygiena was formed in 2000 and is headquartered in the United States in Camarillo, California with a satellite office in the United Kingdom.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-07-07 Ascensus Specialties

Bellevue, Washington, United States

Ascensus Specialties is a manufacturer of specialty chemicals primarily in two end-markets: pharmaceutical drug manufacturing and pulp & paper processing. In pharmaceutical drug manufacturing, sodium borohydride is used as a reducing agent. In pulp & paper processing, sodium borohydride is used as a bleaching agent to prepare paper products for end-customer use. Ascensus Specialties was founded 2014 and is based in Bellevue, Washington.

Buy -

Seller(S) 1

SELLER

Milton Street Capital

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2016
PE ASSETS 1.1B USD
Size Large
Type Sector Focused
DESCRIPTION

Milton Street Capital is a private equity firm focused on acquiring profitable, middle-market industrial companies throughout North America. Prospective transaction types include family owned buyouts, corporate divestitures, and complex situations. The Firm looks to be a hands-on partner, working with management to transform and improve investee companies. Milton Street Capital was established in 2016 and is based in Houston, Texas.


DEAL STATS #
Overall 1 of 2
Sector (Business Services) 1 of 1
Type (Secondary Buyout) 1 of 1
State (Kentucky) 1 of 1
Country (United States) 1 of 2
Year (2021) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-11-02 IC Biomedical

Cartersville, Georgia, United States

IC Biomedical is a manufacturer of cryogenic aluminum, freezers, dewars, shippers, and custom products for biomedical applications. IC Biomedical is based in Cartersville, Georgia.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-11-30 Woodsage

Holland, Ohio, United States

Woodsage manufactures and markets specialty steel rollers and other components used in conveyor system solutions across the material handling industry. Woodsage was founded in 1975 and is based in Holland, Ohio.

Buy -