BB&T Capital Partners has invested $12.5 million of equity to support the acquisition of Smith-Cooper International by Blue Point Capital Partners.
In addition to BB&T Capital Partners other co-investors in this transaction included TIAA, Babson Capital, CDIB Capital (the overseas investing arm of China Development Financial Holding Corporation), and Smith-Cooper management.
Smith-Cooper International is a designer, producer, importer and distributor of pipe, valves and fittings to the commercial and industrial, energy, chemical and petrochemical refining, and fire protection markets. Smith-Cooper offers over 22,000 SKUs and serves more than 2,500 customers globally. The company was formed in 1993 and is headquartered in Commerce, CA (www.smithcooper.com).
BB&T Capital Partners manages over $725 million in committed capital across three funds which are all focused on the middle market. The firm makes direct equity investments in control transactions of privately-held companies; provides subordinated debt or mezzanine capital in support of transactions led by financial sponsors and others; and invests in other private equity funds. The firm was founded in 1998 and is based in Winston-Salem, NC (www.bbtcp.com).
Blue Point Capital Partners is a lower-middle-market private equity firm that invests in manufacturing, distribution and service businesses generating $20 million to $200 million in revenue. The firm has over $800 million in committed capital and has offices in Charlotte, NC; Cleveland, OH; Seattle, WA and Shanghai, China (www.bluepointcapital.com).
© 2012 PEPD • Private Equity’s Leading News Magazine • 11-6-12
