M&A Deal Summary

Windjammer Capital Acquires Fecon

On January 1, 2022, mezzanine finance firm Windjammer Capital acquired machinery company Fecon from LFM Capital

Acquisition Highlights
  • This is Windjammer Capital’s 5th transaction in the Machinery sector.
  • This is Windjammer Capital’s 47th transaction in the United States.
  • This is Windjammer Capital’s 4th transaction in Ohio.

M&A Deal Summary

Date 2022-01-01
Target Fecon
Sector Machinery
Buyer(s) Windjammer Capital
Sellers(s) LFM Capital
Deal Type Secondary Buyout

Target

Fecon

Lebanon, Ohio, United States
Fecon is a manufacturer of heavy-duty forestry mulching equipment and related accessories in North America. The company’s products are used for vegetation management, erosion control, general land clearing and habitat restoration and include patented Bull Hog cutting and mulching attachments, purpose-built vehicle carriers used to maneuver attachments, hydroseeding machines used to distribute erosion control material, and a complementary range of mounted attachments including stump grinders, grapples and shears. Fecon was formed in 1992 and is based in Lebanon, Ohio.

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Buyer(S) 1

Buyer

Windjammer Capital

Newport Beach, California, United States

Investor Investor Investor Investor Investor


Category Mezzanine Finance Firm
Founded 1990
PE ASSETS 2.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Windjammer Capital is a private investment firm that invests control equity, minority equity, and/or subordinated debt in growing middle-market businesses. The Firm seeks to invest between $50 and $200 million of equity or subordinated debt in companies that generate at least $8 million of EBITDA. Windjammer focuses on North American-based opportunities and prefers companies with scalable business models, differentiated products/services, and that operate in defensible markets. Broad sectors of interest include manufacturing, business services and value-added distribution. Windjammer does not invest in high technology, real estate, and financial services companies. Windjammer Capital was formed in 1990 and has offices in Waltham, Massachusetts and Newport Beach, California.


DEAL STATS #
Overall 47 of 52
Sector: Machinery M&A 5 of 5
Type: Secondary Buyout M&A Deals 17 of 18
State: Ohio M&A 4 of 5
Country: United States M&A 47 of 52
Year: 2022 M&A 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-12-16 RegO

Elon, North Carolina, United States

RegO is a designer and manufactures a comprehensive range of flow control valves and regulators that are sold to domestic and international markets under the RegO and Goddard brand names. RegO was formed in 1908 and is based in Elon, North Carolina.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-09-01 Radix Wire & Cable

Glenwillow, Ohio, United States

Radix Wire & Cable is a manufacturer of electrical wire and cable for high-performance applications - serving the industrial, commercial, fire protection, consumer, and oil & gas markets. Radix Wire & Cable was founded in 1944 and is based in Cleveland, Ohio.

Buy -

Seller(S) 1

SELLER

LFM Capital

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2014
PE ASSETS 110M USD
Size Small
Type Sector Agnostic
DESCRIPTION

LFM Capital is a private equity investor focused on acquiring North American manufacturing and industrial services businesses. The Firm looks to invest in lower middle-market companies generating sales of $10 to $150 million and EBITDA between $3 and $15 million. LFM Capital was founded in 2014 and headquartered in Nashville, Tennessee.


DEAL STATS #
Overall 3 of 8
Sector: Machinery M&A 1 of 2
Type: Secondary Buyout M&A Deals 2 of 5
State: Ohio M&A 1 of 2
Country: United States M&A 3 of 8
Year: 2022 M&A 1 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-10-12 Rainier

Tukwila, Washington, United States

Rainier is a manufacturer of residential and commercial shade, shelter, and display solutions, including power screens, retractable awnings, commercial tents, retail displays, and branded environments, that are sold through a nationwide dealer network. Rainier was founded in 1896 and is based in Tukwila, Washington.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-01-18 Invio Automation

Lansing, Michigan, United States

Invio Automation designs, builds, and sustains advanced industrial solutions used to solve complex manufacturing needs. The company's proven portfolio of Industry 4.0 technology includes autonomous guided vehicles (AGVs), collaborative robot systems, traditional robotics, assembly automation & simulation, 3D printing tool development & production, and Factory of the Future consulting for manufacturers. Invio Automation was formed in 1974 and is based in Lansing, Michigan.

Sell -