Colville Capital has acquired Northeast Battery & Alternator, a distributor of industrial and light motive batteries. Brookside Mezzanine Partners provided subordinated debt and made an equity co-investment to back the acquisition of the company.
Northeast Battery & Alternator (NEB) is one of the largest independent battery distributors in the northeast. The company serves commercial and wholesale customers with a range of rechargeable power products that are used in industrial equipment, recreational, passenger and commercial vehicles, uninterruptible power supplies, and stationary power applications. The company was founded in 1985 and is headquartered 50 miles west of Boston in Auburn, MA (www.northeastbattery.com).
Colville Capital invests in companies with revenues of $10 million to $100 million and EBITDA of $2 million to $6 million. Sectors of interest include niche manufacturing; value-added distribution; business services; and diversified industrials. The firm was founded by its Managing Partner Mark Mealy in 2006 and is headquartered in Charlotte, NC (www.colvillecapital.com).
Brookside Mezzanine Partners invests up to $20 million per transaction in companies with revenue of at least $15 million and EBITDA of at least $3 million. Sectors of interest include manufacturing, business services, distribution, restaurant, retail, and healthcare. Brookside was founded in 2001 and has offices in Stamford, CT and Boston, MA (www.brooksidemezzanine.com).
© 2015 PEPD • Private Equity’s Leading News Magazine • 4-28-15
