M&A Deal Summary

Tecum Capital and Zorro Capital Acquire Ohio Travel Bag

On May 6, 2016, private equity firms Tecum Capital and Zorro Capital acquired distribution company Ohio Travel Bag

Acquisition Highlights
  • This is Tecum Capital’s 6th and Zorro Capital’s 1st transaction in the Distribution sector.
  • This is Tecum Capital’s 35th and Zorro Capital’s 1st transaction in the United States.
  • This is Tecum Capital’s 7th and Zorro Capital’s 1st transaction in Ohio.
Investment Fate
  • Ohio Travel Bag was sold to a strategic buyer in 2022.

M&A Deal Summary

Date 2016-05-06
Target Ohio Travel Bag
Sector Distribution
Buyer(s) Tecum Capital
Zorro Capital
Deal Type Buyout (LBO, MBO, MBI)
Advisor(s) EdgePoint Capital Advisors (Financial)

Target

Ohio Travel Bag

Solon, Ohio, United States
Ohio Travel Bag is a wholesale distributor of specialized components, fittings, and parts used by customers in the manufacturing or repair of leather goods, handbags, luggage, upholstery, and horse tack products. Ohio Travel Bag was founded in 1908 and is based in Solon, Ohio.

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Buyer(S) 2

Buyer

Tecum Capital

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2005
PE ASSETS 750M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Tecum Capital is a private equity firm focused on lower middle-market companies across the Eastern-US. Tecum will consider a variety of investment situations including leveraged buyouts, management buyouts, successions, strategic acquisitions, growth capital financings, and recapitalizations. Investment sizes range from $5 - $20 million. Industries of interest include manufacturing, plastics, specialty distribution, technology, healthcare services, defense, food, and business/consumer services. Tecum will not consider investments in start-ups or real estate. Tecum Capital was formed in 2005 and is based in Wexford, Pennsylvania.


DEAL STATS #
Overall 35 of 83
Sector: Distribution M&A 6 of 9
Type: Buyout (LBO, MBO, MBI) M&A Deals 15 of 29
State: Ohio M&A 7 of 11
Country: United States M&A 35 of 83
Year: 2016 M&A 3 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-04-15 Allegheny Performance Plastics

Leetsdale, Pennsylvania, United States

Allegheny Performance Plastics is a preeminent injection molder of exotic and high-performance thermoplastics serving Fortune 100 customers. Allegheny Performance Plastics was founded in 1936 and is based in Leetsdale, Pennsylvania.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-07-19 Advanced Pavement Group

Islip, New York, United States

Advanced Pavement Group is an outdoor facility maintenance company (services include asphalt paving, seal-coating, drain installation and repair, concrete installation and repair, sweeping and debris removal, power washing, storm drain management, and maintenance) in the Northeast and Mid-Atlantic regions of the United States, servicing New York, New Jersey, Connecticut, Delaware, Pennsylvania, and Maryland. Advanced Pavement Group was founded in 1963 and is based in Islip, New York.

Buy -
DESCRIPTION

Zorro Capital LLC is a private investment group that consists of owners and operators. The Firm looks to help owners exit their businesses knowing their organizations will continue to operate in their local communities in the future. Zorro Capital LLC is based in Chagrin Falls, Ohio.


DEAL STATS #
Overall 1 of 1
Sector: Distribution M&A 1 of 1
Type: Buyout (LBO, MBO, MBI) M&A Deals 1 of 1
State: Ohio M&A 1 of 1
Country: United States M&A 1 of 1
Year: 2016 M&A 1 of 1