M&A Deal Summary |
|
|---|---|
| Date | 2025-06-19 |
| Target | Elgen |
| Sector | Manufacturing |
| Buyer(s) | Worthington Enterprises |
| Sellers(s) |
Merit Capital Partners
MFG Partners |
| Deal Type | Add-on Acquisition |
| Deal Value | 93M USD |
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| Category | Company |
|---|---|
| Founded | 1955 |
| Sector | Metals/Mining |
| Employees | 6,000 |
| Revenue | 1.2B USD (2024) |
Worthington Enterprises is a diversified metal processing company. Worthington is a value-added steel processor and a leader in manufactured metal products such as metal framing, pressure cylinders, automotive past model service stampings, metal ceiling grid systems, and laser-welded blanks. Worthington Enterprises was founded in 1955 and is based in Columbus, Ohio.
| DEAL STATS | # |
|---|---|
| Overall | 23 of 23 |
| Sector: Manufacturing M&A | 9 of 9 |
| Type: Add-on Acquisition M&A Deals | 16 of 16 |
| State: New Jersey M&A | 2 of 2 |
| Country: United States M&A | 20 of 20 |
| Year: 2025 M&A | 1 of 1 |
| Size (of disclosed) | 6 of 8 |
| DATE | TARGET | DEAL TYPE | VALUE |
|---|---|---|---|
| 2021-11-01 |
Tempel Steel
Chicago, Illinois, United States Tempel Steel is a manufacturer of precision motor and transformer laminations for the electrical steel market. The company's proprietary manufacturing techniques provide customers with highly engineered, precision-stamped, electrical steel laminations used for the core of electric motors, transformers and generators. With hybrids and EVs expected to continue growing at double-digit rates worldwide, Tempel will significantly enhance Worthington’s existing automotive offerings, including its lightweighting technology and laser welded solutions that deliver weight and cost reductions and increased fuel efficiency to the mobility market. It also serves the important electricity infrastructure and distribution markets, which are expected to see significant investment and growth to support the transition to electric motors across multiple industries. Formed in 1945, Tempel is a global business and manufactures in five facilities located in Chicago, Canada, China, India and Mexico. |
Buy | $255M |
| Category | Mezzanine Finance Firm |
|---|---|
| Founded | 1993 |
| PE ASSETS | 2.5B USD |
| Size | Large |
| Type | Sector Agnostic |
Merit Capital Partners is a private investment firm that targets investments in middle market manufacturing, distribution, and service based businesses. Merit looks for companies generating at least $20 million in sales and at least $4 million in EBITDA. Merit can provide both equity and junior capital financing and looks to commit at least $15 million per transaction. Prospective transaction situations include management buyouts, recapitalizations, growth financings, divestitures, unsponsored transactions, and ESOPs. Merit Capital will not invest in start-ups, turnarounds, real estate, specialty retail, or oil/gas opportunities. Merit Capital was originally known as William Blair Mezzanine Capital and became independent in 2004. Merit Capital Partners was formed in 1993 and is based in Chicago, Illinois.
| DEAL STATS | # |
|---|---|
| Overall | 56 of 56 |
| Sector: Manufacturing M&A | 7 of 7 |
| Type: Add-on Acquisition M&A Deals | 31 of 31 |
| State: New Jersey M&A | 1 of 1 |
| Country: United States M&A | 55 of 55 |
| Year: 2025 M&A | 1 of 1 |
| Size (of disclosed) | 7 of 8 |
| DATE | TARGET | DEAL TYPE | VALUE |
|---|---|---|---|
| 2025-03-04 |
Carl’s Place
Milton, Wisconsin, United States Carl’s Place is a manufacturer and distributor of fully customizable golf simulator packages and products. The Company sells branded proprietary products, such as enclosures, hitting mats, and impact screens, in conjunction with golf technology products, such as launch monitors, to create complete golf simulator packages. Carl’s Place was founded in 2006 and is headquartered in Milton, Wisconsin. |
Buy | - |
MFG Partners acquires controlling stakes in founder and family-owned industrial, manufacturing, distribution, and business services companies valued from $25 to $100 million. MFG will consider opportunities throughout North America and looks to collaborate with existing company leadership to identify and execute on growth opportunities and operational initiatives. MFG Partners was formed in 2016 and is headquartered in New York City.
| DEAL STATS | # |
|---|---|
| Overall | 3 of 3 |
| Sector: Manufacturing M&A | 1 of 1 |
| Type: Add-on Acquisition M&A Deals | 3 of 3 |
| State: New Jersey M&A | 1 of 1 |
| Country: United States M&A | 3 of 3 |
| Year: 2025 M&A | 1 of 1 |
| Size (of disclosed) | 2 of 2 |
| DATE | TARGET | DEAL TYPE | VALUE |
|---|---|---|---|
| 2023-01-25 |
Storage Solutions
Westfield, Indiana, United States Storage Solutions is a warehouse integrator that provides solutions for material handling and industrial storage equipment, including design, equipment procurement, and installation. Storage Solutions was founded in 1978 and is based in Westfield, Indiana. |
Sell | $375M |
