M&A Deal Summary

Valesco Industries and Next Sparc Growth Partners Acquire HoodMart

On November 10, 2022, private equity firm Valesco Industries and growth capital firm Next Sparc Growth Partners acquired manufacturer HoodMart from Tecum Capital and Weinberg Capital Group

Acquisition Highlights
  • This is Valesco Industries’ 1st and Next Sparc Growth Partners’ 1st transaction in the Manufacturing sector.
  • This is Valesco Industries’ 12th and Next Sparc Growth Partners’ 9th transaction in the United States.
  • This is Valesco Industries’ 1st and Next Sparc Growth Partners’ 3rd transaction in Ohio.

M&A Deal Summary
Date 2022-11-10
Target HoodMart
Sector Manufacturing
Buyer(s) Valesco Industries
Next Sparc Growth Partners
Sellers(s) Tecum Capital
Weinberg Capital Group
Deal Type Secondary Buyout

Target

HoodMart

Elyria, Ohio, United States
HoodMart specializes in the design, manufacture and sale of ventilation systems (exhaust hoods) for the large and growing commercial cooking industry. HoodMart is based in Elyria, Ohio.

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Buyer(S) 2

Buyer

Valesco Industries

Investor Investor Investor Investor Investor

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

Valesco Industries is a private equity firm focused on growth-oriented small and lower middle-market businesses across the US. Valesco seeks profitable companies with EBITDA of at least $4 million and revenue between $15 and $100 million in the manufacturing, distribution, and business services sectors. The Firm considers both minority and majority positions as well as provides subordinated debt to support owner successions, management buyouts, recapitalizations, and growth financings. Valesco does not invest in start-ups, real estate, financial services, and turnarounds. Valesco Industries was established in 1993 and is headquartered in Dallas, Texas.

DEAL STATS #
Overall 12 of 15
Sector (Manufacturing) 1 of 1
Type (Secondary Buyout) 1 of 3
State (Ohio) 1 of 1
Country (United States) 12 of 15
Year (2022) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-03-24 Adams

Gonzales, Texas, United States

Adams is a full-service dry and wet flavor manufacturer and distributor of seasonings, spices, panko, extracts, and food coloring. Adams was founded in 1888 and is based in Gonzales, Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-02-12 Drug Free Sport

Kansas City, Missouri, United States

Drug Free Sport is a provider of drug testing and compliance services for professional and amateur athletic organizations providing customized drug-testing programs and other drug prevention initiatives to ensure fair and safe sport on the global scale or organizations including the NFL, NBA, NCAA, PGA and NASCAR. Drug Free Sport was founded in 1999 and is based in Kansas City, Missouri.

Sell -
Buyer

Next Sparc Growth Partners

Investor Investor Investor Investor

Category Growth Capital Firm
Founded 2009
Size Small
Type Sector Agnostic
DESCRIPTION

DEAL STATS #
Overall 10 of 12
Sector (Manufacturing) 1 of 1
Type (Secondary Buyout) 1 of 1
State (Ohio) 3 of 4
Country (United States) 9 of 11
Year (2022) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-11-16 Revel Bikes

Carbondale, Colorado, United States

Revel Bikes is a designer of full suspension mountain bikes. Revel Bikes was founded in 2016 and is based in Carbondale, Colorado.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-11-14 Way Interglobal Network

Elkhart, Indiana, United States

Way Interglobal Network is a distributor for RV appliances, electronics, furnishings and more. Way Interglobal Network is based in Elkhart, Indiana.

Sell -

Seller(S) 2

SELLER

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 22 of 24
Sector (Manufacturing) 2 of 2
Type (Secondary Buyout) 6 of 6
State (Ohio) 2 of 2
Country (United States) 22 of 24
Year (2022) 4 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-10-17 TiniFiber

Lindenhurs, New York, United States

TiniFiber is a fiber optic assembly and custom cable manufacturer that capitalizes on the strong long-term FTTx trends by demonstrating the superior value of its product to customers across the country. Its products are smaller, stronger, and lighter than those of the competition, resulting in substantial savings to contractors and end users via reduced labor and transportation costs. TiniFiber is based in Lindenhurs, New York.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-02-07 Terra

Everett, Washington, United States

Terra is a provider of staffing services for industrial, administrative, and technical staffing across a wide range of industries such as industrial, consumer products, food and beverage, and logistics. It operates out of 18 offices across five states and provides its customers with a full suite of outsourced HR services and solutions, allowing customers to focus on other key critical areas in their organizations. Terra is based in Everett, Washington.

Buy -
SELLER

Weinberg Capital Group

Cleveland, Ohio, United States

Investor Investor Investor

Category Family Office
Founded 2003
Size Small
Type Sector Agnostic
DESCRIPTION

Weinberg Capital Group is a Midwestern US-based investment firm focused on real estate and private equity investments. Weinberg's private equity group targets control investments in lower middle-market, North American, profitable companies with $10 to $100 million of revenue. Sectors of interest include manufacturing, business services, medical and healthcare, aviation services, consumer products, and value-added distribution. Weinberg's real estate group targets opportunities in retail, multi-family, office, and industrial properties. Weinberg Capital Group was formed in 2003 and is based in Cleveland, Ohio.

DEAL STATS #
Overall 9 of 9
Sector (Manufacturing) 1 of 1
Type (Secondary Buyout) 3 of 3
State (Ohio) 3 of 3
Country (United States) 9 of 9
Year (2022) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-09-20 Drake Waterfowl Systems

Olive Branch, Mississippi, United States

Drake Waterfowl Systems is a provider of hunting gear, hunting boots, hunting waders, and hunting clothes made especially for duck hunters by duck hunters. Drake Waterfowl Systems was founded in 2002 and is based in Olive Branch, Mississippi.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-12-20 Salt River Aviation

Chandler, Arizona, United States

Salt River Aviation is an APU expert, acting as a holistic supplier of APUs, components, and related services to the entire aviation ecosystem including maintenance, repair, and overhaul providers (MROs), OEMs, airlines, lessors, and aftermarket distributors. Salt River Aviation was founded in 2006 and is based in Chandler, Arizona.

Buy -
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