M&A Deal Summary

Windjammer Capital Acquires TERREPOWER

On June 29, 2007, mezzanine finance firm Windjammer Capital acquired automotive company TERREPOWER from American Capital and ShoreView Industries

Acquisition Highlights
  • This is Windjammer Capital’s 1st transaction in the Automotive sector.
  • This is Windjammer Capital’s 28th transaction in the United States.
  • This is Windjammer Capital’s 1st transaction in Alabama.
Investment Fate
  • TERREPOWER was sold to a consortium of financial buyers in 2014.
  • TERREPOWER was sold to a consortium of financial buyers in 2018.
  • TERREPOWER was sold to a consortium of financial buyers in 2022.

M&A Deal Summary

Date 2007-06-29
Target TERREPOWER
Sector Automotive
Buyer(s) Windjammer Capital
Sellers(s) American Capital
ShoreView Industries
Deal Type Recapitalization

Target

TERREPOWER

Daphne, Alabama, United States
TERREPOWER engages in remanufacturing of starters, alternators, hydraulic and air disc brake calipers, both hydraulic and electronic power steering products and turbochargers for the OEM, personal and commercial vehicle aftermarket industries. TERREPOWER was founded in 1987 and is headquartered in Daphne, Alabama.

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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 28 of 52
Sector: Automotive M&A 1 of 1
Type: Recapitalization M&A Deals 1 of 1
State: Alabama M&A 1 of 1
Country: United States M&A 28 of 52
Year: 2007 M&A 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-03-01 Rotex

Cincinnati, Ohio, United States

Rotex, Inc. is a developer of screening and separation equipment used in a broad range of process industries, including industrial minerals, food, grain, chemicals and plastics. Rotex specializes in providing high-volume, solid-to-solid gyratory separation equipment to customers around the world.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2008-02-01 Infinite Electronics

Irvine, California, United States

Infinite Electronics is a supplier of engineering-grade radio-frequency technology products, operating under its proprietary brands for a global engineering base. IRF serves the high urgency, technical needs segment of the global RF component market, and differentiates itself through a broad selection of RF components available for same-day shipping, custom cable design and assembly capabilities for 250,000+ unique configurations, and significant technical expertise in bringing new products to the market and providing solutions for R&D engineers. Infinite Electronics was formed in 1972 and is based in Irvine, California.

Buy -

Seller(S) 2

SELLER

American Capital


Category Private Equity Firm
Founded 1997
PE ASSETS 22.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

American Capital was a publicly traded buyout and mezzanine investment firm. American Capital invested in buyouts, growth capital financings, acquistion financings, and recapitalizations. The Firm looked to finance businesses with at least $4 million in EBITDA and valued between $20 and $500 million. American Capital ws a generalist firm with broad interest in traditional industries such as manufacturing, distribution, and services. American Capital's European investment affiliate is European Capital. European Capital looked to invest $10 to $600 million of equity, mezzanine, and/or senior debt in similar opportunities across Europe. American Capital was formed in 1997 and in January 2017, merged with Ares Capital Management.


DEAL STATS #
Overall 68 of 194
Sector: Automotive M&A 2 of 11
Type: Recapitalization M&A Deals 2 of 4
State: Alabama M&A 3 of 5
Country: United States M&A 67 of 186
Year: 2007 M&A 11 of 22
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-06-29 Fleischmann s Vinegar Co.

Cerritos, California, United States

Fleischmann's Vinegar Co. Inc. is a USDA certified all-natural producer of specialty ingredients that further support Kerry’s taste and clean label strategies across a number of End Use Markets. It is headquartered in California and has manufacturing facilities in Washington, New York, Maryland, Illinois, Missouri, Alabama and California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-07-01 Kirby Lester

Lake Forest, Illinois, United States

Kirby Lester LLC is a pharmacy automation systems provider that offers a full suite of automated dispensing systems, including automatic tablet counters and robotic drug dispensing systems, to pharmacies in the U.S. and internationally.

Sell -
SELLER

ShoreView Industries


Category Private Equity Firm
Founded 2002
PE ASSETS 1.3B USD
Size Large
Type Sector Agnostic
DESCRIPTION

ShoreView Industries is a middle-market private investment principally focused on partnering with family or entrepreneurial-owned companies. ShoreView will consider a variety of investment situations, including buyouts, leveraged recapitalizations, minority investments, and industry consolidations. Areas of interest include engineered products, distribution, industrial services, business services, and niche consumer products. ShoreView industries was established in 2002 and is headquartered in Minneapolis, Minnesota.


DEAL STATS #
Overall 2 of 30
Sector: Automotive M&A 1 of 3
Type: Recapitalization M&A Deals 1 of 2
State: Alabama M&A 1 of 1
Country: United States M&A 2 of 29
Year: 2007 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-05-01 Luminance Lighting

Commerce, California, United States

Luminance Lighting is a provider of lighting fixtures and products to the residential, commercial, and hospitality markets. Luminance Lighting is a designer of lighting parts, hardware, fixtures, ceiling fans, and plumbing parts. Luminance Lighting was formed in 1951 and is based in Commerce, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2008-11-17 SWS Environmental Services

Panama City, Florida, United States

SWS Environmental Services is a provider of emergency response and environmental cleanup services. SWS provides a broad range of essential services including industrial, hazardous waste management, emergency response, marine, and remediation services to the energy, manufacturing, education, healthcare, chemical, transportation, government, and retail sectors.

Buy -