M&A Deal Summary

Williams Acquires Koontz-Wagner

On July 1, 2012, Williams acquired business services company Koontz-Wagner from High Street Capital and Aldine Capital Partners for 32M USD

Acquisition Highlights
  • This is Williams’ 1st transaction in the Business Services sector.
  • This is Williams’ 2nd largest (disclosed) transaction.
  • This is Williams’ 1st transaction in the United States.
  • This is Williams’ 1st transaction in Indiana.
Investment Fate
  • Koontz-Wagner was divested to a consortium of buyers in 2014.

M&A Deal Summary

Date 2012-07-01
Target Koontz-Wagner
Sector Business Services
Buyer(s) Williams
Sellers(s) High Street Capital
Aldine Capital Partners
Deal Type Add-on Acquisition
Deal Value 32M USD
Advisor(s) Livingstone Partners LLP (Financial)

Target

Koontz-Wagner

South Bend, Indiana, United States
website
Koontz-Wagner offers repair and testing services for electric motors and other mechanical and electrical equipment, as well as electrical contracting services for commercial and industrial projects. Its maintenance services division repairs motors, generators, switchgear, transformers, electronics, and other electrical and mechanical equipment. Koontz-Wagner was founded in 1921 and is based in South Bend, Indiana.

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Buyer(S) 1

Buyer

Williams

Atlanta, Georgia, United States

website


Category Company
Founded 1998
Sector Energy Services and Equipment
Employees1,264
Revenue 269M USD (2020)
DESCRIPTION

Williams is a designer, engineer and manufacturer of auxiliary equipment for gas turbines used in power plants and a variety of industrial applications. Williams was founded in 1998 and is based in Atlanta, Georgia.


DEAL STATS #
Overall 1 of 3
Sector (Business Services) 1 of 1
Type (Add-on Acquisition) 1 of 3
State (Indiana) 1 of 2
Country (United States) 1 of 3
Year (2012) 1 of 2
Size (of disclosed) 2 of 2
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-09-05 TOG Manufacturing Company

North Adams, Massachusetts, United States

TOG is a contract manufacturer of high precision metal and alloy parts for the power generation market and the nuclear submarine market.

Buy -

Seller(S) 2

SELLER

High Street Capital

Chicago, Illinois, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1997
PE ASSETS 165M USD
Size Small
Type Sector Agnostic
DESCRIPTION

High Street Capital is a private investment firm focused on acquiring lower middle-market businesses generating revenues $10-$100 million with an EBITDA up to $15 million. The Firm typically invests in recapitalizations, management buyouts and growth equity financings. Target sectors include business services, aerospace/defense, healthcare product manufacturers and suppliers, testing and analytical services, chemicals and coatings, specialty plastics, and test/measurement equipment manufacturers. High Street looks to commit $2 to $8 million of equity per transaction and will consider both control and non-control situations. High Street will not invest in retail businesses, restaurants, oil and gas, entertainment, commodities, turnarounds, or start-ups. High Street Capital was formed in 1997 and is based in Chicago, Illinois.


DEAL STATS #
Overall 4 of 13
Sector (Business Services) 1 of 3
Type (Add-on Acquisition) 3 of 6
State (Indiana) 1 of 1
Country (United States) 4 of 13
Year (2012) 2 of 3
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-04-01 TLC Companies

Brooklyn Center, Minnesota, United States

TLC Companies provides transportation industries workers' compensation and risk management solutions. The TLC Companies has been able to leverage our 25+ years of experience in risk management and transportation services to our clients resulting in lower operating costs. TLC Companies was founded in 1985 and is based in Brooklyn, Minnesota.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-07-13 DataSource

Kansas City, Missouri, United States

DataSource, Inc. is a technology-enabled Business Process Outsourcing (“BPO”) solutions provider of print supply and marketing services for industry-leading brands in the restaurant/hospitality and retail market segments. DataSource provides the expertise, services, technology, and products to help companies precisely execute and manage their branded programs through end-to-end brand management solution. DataSource was founded in 1989 and is based in Kansas City, Missouri.

Sell -
SELLER

Aldine Capital Partners

Chicago, Illinois, United States

Investor Investor Investor Investor Investor

website


Category Mezzanine Finance Firm
Founded 2005
Size Small
Type Sector Agnostic
DESCRIPTION

Aldine Capital Partners is a mezzanine investment firm that provides mezzanine and junior capital financing to lower middle-market companies generating sales of at least $10 million and at least $2 million in EBITDA. Aldine invests in the range of $4 to $25 million per transaction. Types of transactions include management buyouts, acquisition financings, shareholder liquidity events, recapitalizations, and growth financings of smaller middle-market companies. Aldine will consider investments across the United States, but has a primary focus on opportunities in the Midwest. The Firm will not consider investments in start-ups, turnarounds, real estate, insurance, banking, and oil/gas. Aldine Capital was formed in 2005 and is based in Chicago, Illinois.


DEAL STATS #
Overall 3 of 23
Sector (Business Services) 1 of 2
Type (Add-on Acquisition) 3 of 14
State (Indiana) 1 of 1
Country (United States) 3 of 23
Year (2012) 2 of 2
Size (of disclosed) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-04-23 QCC

Harwood Heights, Illinois, United States

QCC is a manufacturing services provider specializing in the manufacture, assembly, and testing of complete products and assemblies, as well as precision-machined components for aerospace, diesel fuel systems, medical, defense, and fluid power applications. QCC was founded in 1951 and is based in Harwood Heights, Illinois.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-10-01 Adler Hot Oil Services

Vernal, Utah, United States

Adler Hot Oil Services LLC is an oilfield service company providing heating services for oil and gas well sites. Adler Hot Oil Services was founded in 1989 and is based in Vernal, Utah.

Buy -