Warren Equity Partners has acquired Magneto & Diesel Injector Service (DBA M&D Distributors).
M&D Distributors is an aftermarket distributor of parts and components for maintaining and repairing diesel-powered engines. The company’s products – totaling more than 100,000 SKUs – include new and remanufactured fuel injection, turbocharger, engine part, and filtration products that are used in light/medium-duty vehicles, heavy-duty commercial trucks, and industrial equipment (including agriculture, marine, construction, railroad, and oil & gas).
The company’s parts are sold to more than 12,000 mechanics, independent repair shops, authorized service dealers, and individual owner-operators that are located primarily in Texas, Oklahoma, and Louisiana. M&D Distributors also provides additional services through its internal rebuilding capabilities as well as part matching, diagnostics, repair, and technical assistance. M&D Distributors operates eight facilities (seven in Texas and one in Louisiana) and is headquartered in Humble, TX (www.mddistributors.com).
Warren Equity acquired the majority interest in M&D Distributors from the Ingram family, who founded the company in 1943 to provide repair services to the shipping and rail industries during World War II. The Ingram family invested alongside Warren Equity in the transaction and post-closing will continue to be involved on the board of directors.
“We are very excited to partner with the Ingram family and the M&D Distributors team. Under the Ingram family’s long history of ownership, the company has created a tremendous reputation for quality, service, and technical expertise,” said Steven Wacaster, a managing partner at Warren Equity. “We’re excited to support M&D Distributors during its next phase of growth.”
“We chose to partner with Warren Equity because of their relevant industry expertise, experience in scaling similar types of businesses, and strong cultural fit,” said Trey Ingram, CEO of M&D Distributors. “Warren Equity differentiated themselves from the beginning of the process, and we’re excited to bring in a partner who will both help us execute upon our growth strategies and uphold the family legacy.”
Warren Equity invests from $5 million to $40 million in North American-based companies that have from $3 million to $15 million of EBITDA. Sectors of interest include industrial, infrastructure, and business services. The firm is based in Jacksonville Beach, FL (www.warrenequity.com).
“Trends such as aging truck fleets, increasingly stringent regulations, and growing focus on fuel efficiency are driving strong demand for and sophistication within the company’s products,” added Michael Zhang, a vice president at Warren Equity. “We look forward to working with Trey Ingram and management to continue growing the company.”
The buy of M&D Distributors is Warren Equity’s eighth platform investment and nineteenth acquisition since its formation in mid-2015. In addition to the acquisition of M&D Distributors, Warren Equity completed three other platform investments in 2018: Meridian Waste, a Greensboro, GA-based non-hazardous provider of solid waste collection, transfer, recycling, and disposal services (April 2018); SIMCO, a Concord, NC-based provider of corrosion protection services (May 2018); and StormTrap, a Romeoville, IL-based designer and engineer of stormwater management systems (December 2018).
© 2019 Private Equity Professional | January 14, 2019
Union Capital has agreed to sell KEYper Systems, a supplier of electronic and mechanical key management systems, to Assa Abloy.
Assa Abloy is a Swedish lock manufacturer and the world’s largest in total revenue. The company’s products include access control, identification technology, entrance automation and hotel security. Assa Abloy owns Yale lock, Sargent and the high-security lock firms of Medeco in the US, Mul-T-Lock in Israel, Fichet-Bauche in France, and VingCard Elsafe International in Norway. The company is headquartered in Stockholm, Sweden and has approximately 47,000 employees and sales of more than SEK 76 billion (
Union Capital invests from $10 million to $40 million in equity in US-based founder-owned businesses that have $20 million to $200 million in revenue and $5 million to $20 million in EBITDA. The firm is typically the first institutional investor in the company. Sectors of interest include specialty manufacturing, business process outsourcing, food manufacturing, marketing services, franchised restaurants, and unusual businesses existing in defensible niches. Union Capital is headquartered in Greenwich, CT with an additional office in Chicago, IL (
Craftmaster Hardware, a security hardware distributor and a portfolio company of Capital Resource Partners, has acquired Taylor Security and Lock. Capital Resource Partners acquired Craftmaster Hardware in May 2015.
Craftmaster Hardware is a wholesale distributor of security hardware, detention, commercial door locks, and locksmith supplies to hospitals; universities; school districts; federal, state and local governments; as well as prisons and jails. The company, led by CEO Tim Grogan, was founded in 1951 and is headquartered in Northvale, NJ (
Capital Resource Partners invests in lower middle market companies that have positive cash flow and revenues of $5 million to $100 million. Sectors of interest include business services; consumer products and services; healthcare services; proprietary industrial products and services; and software and information services. The firm is headquartered near Boston in Wellesley, MA (
Guardian Capital Partners has made an investment in Tactical Medical Solutions, a developer and manufacturer of products and kitted solutions used in emergency trauma care including in the military, law enforcement, and other first responder markets.
Guardian Capital Partners makes control investments in lower middle market private companies located primarily in the United States that have annual revenues between $20 million and $100 million and EBITDA between $3 million and $9 million. Sectors of interest include consumer products, niche manufacturing and specialty business services. The firm is headquartered in the Philadelphia suburb of Wayne, PA (
