Exit

It was announced today that EAM Corporation, a portfolio company of Kinderhook Industries and a developer and manufacturer of absorbent products, has been sold to strategic buyer Domtar Corporation.

EAM is a developer and manufacturer of absorbent products. The company has two proprietary products, NovaThin and NovaZorb, that serve customers in the feminine hygiene, adult incontinence, food packaging, medical, pet care and diaper markets.  The company is based in Jesup, GA (www.eam-corp.com).

Domtar designs, manufactures, markets and distributes a variety of fiber-based products including communication papers, specialty and packaging papers and adult incontinence products. The company is based in Montreal, Canada (www.domtar.com).
 
Kinderhook Industries is a manager of private equity funds with $770 million of committed capital.  Kinderhook primarily makes control investments in companies with transaction values of $25 million to $100 million in which the firm can achieve financial, operational and growth improvements. Kinderhook pursue private equity investments in non-core divisions of public companies, management buyouts of entrepreneurial-owned businesses, troubled situations and existing small capitalization companies lacking institutional support. The firm is located in New York, NY (www.kinderhook.com).

Harris Williams & Co. acted as the exclusive advisor to EAM. The transaction was led by Derek Lewis, Darwin Olympia and Marshall Croft from the firm’s Richmond office.  “EAM has built a strong reputation through its technical expertise, manufacturing excellence and culture of innovation. We are proud to have represented EAM and Kinderhook in this transaction and are confident that EAM will enhance Domtar’s growth and competitive position,” said Mr. Lewis, a managing director at Harris Williams & Co.

Falfurrias Capital Partners today announced that it has sold its controlling ownership interest in Commercial Credit Group to Lovell Minnick Partners.  The transaction comes just over two years after Falfurrias acquired the Charlotte based equipment lender in March 2010.
 
“We were able to provide capital to Commercial Credit Group during a time when most investors were shying away from the commercial lending market,” said Marc Oken, co-founder and managing partner of Falfurrias Capital Partners. “Our growth capital combined with management’s leadership enabled the company to take advantage of dislocations in the financial market and achieve outstanding growth and financial performance when most competitors were on the defensive.”
 
Commercial Credit Group is commercial equipment finance and leasing company focused on purchase money and refinance transactions in the construction, fleet transportation and waste industries. CCG sources its transactions through end-users, equipment vendors, and manufacturers. Headquartered in Charlotte, NC, CCG also has a full-service office in Naperville, IL (www.commercialcreditgroup.com).
 
“We generally target an investment horizon of four to seven years when making new investments,” said Mr. Oken.  “Commercial Credit Group’s need for additional growth capital as well as significant interest from prospective buyers offered Falfurrias an opportunity to provide an attractive return for our investors while bringing on a strong partner for Commercial Credit Group going forward.”       Falfurrias Capital Partners makes equity investments of at least $3 million in companies with revenues in excess of $10 million and EBITDAs in excess of $2 million.  Industries of interest include financial services; consumer products; health care; building products; diversified manufacturing; business services; education, training, and information services; and infrastructure services.  Falfurrias was founded by former Bank of America Chairman and CEO Hugh McColl Jr. and former Bank of America CFO Marc Oken.  The firm is based in Charlotte, NC (www.falfurriascapital.com).
 
Lovell Minnick Partners is currently investing Lovell Minnick Equity Partners III which closed in January 2010. This $455 fund has completed five investments to date and is focused on investments in various financial segments, including asset management, financial planning, financial product distribution, specialty finance, securities brokerage, banking, outsourcing providers and related companies specializing in administration services.  The firm has $800 million of capital under management and has offices in Los Angeles, CA and Philadelphia, PA (www.LovellMinnick.com).

Ritchie Bros. Auctioneers, an industrial auctioneer, today announced that it has agreed to acquire AssetNation, an online marketplace for surplus and salvage assets and a portfolio company of Spire Capital Partners.  Ritchie Bros. has agreed to acquire 100% of the issued and outstanding shares of AssetNation in an all cash transaction valued at $64 million.

AssetNation is an online marketplace for surplus and salvage assets. The company is active in a number of industry verticals including energy, fleet and distribution, insurance and government. AssetNation is headquartered in Houston with offices in Pittsburgh, Mexico City, and London (www.assetnation.com).

Ritchie Bros. Auctioneers is the world’s largest industrial auctioneer, selling more equipment to on-site and online bidders than any other company in the world.  The company conducts hundreds of unreserved public auctions each year, selling a range of used and unused equipment, trucks and other assets utilized in the construction, transportation, agricultural, material handling, mining, forestry, petroleum and marine industries. Ritchie Bros. has over 110 locations in more than 25 countries, including 44 auction sites worldwide. The company was founded in 1958 and is based in Vancouver (www.rbauction.com).

Spire Capital invests from $15 million to $40 million in companies with revenues of at least $10 million and EBITDAs of $5 million.  Sectors of interest include business services, information services, education, media and communications. The firm is based in New York with an additional office in West Conshohocken, PA (www.spirecapital.com).

May 8, 2012 – It was announced today that Primary Packaging, a portfolio company of MCM Capital Partners and DN Partners and a designer and manufacturer of heavy duty plastic films and bags, has been sold to Field Ventures.

Mesirow Financial acted as the exclusive financial advisor to Primary Packaging.  “We are pleased to have worked with Primary Packaging, MCM Capital Partners and DN Partners on this assignment.” said Rocky Pontikes, managing director of Mesirow Financial.  “Through partnering with Field Ventures, Primary Packaging is positioned for significant growth in the flexible packaging sector.”  Mesirow Financial is one of the most active advisors in the paper, plastics, packaging and specialty printing sectors, having completed over 80 packaging transactions in recent years.

Primary Packaging is a designer and manufacturer of heavy duty plastic films and bags with the ability to extrude film containing up to three layers and print up to eight colors. The company serves the consumer non-cyclical, industrial, insulation, lawn and garden and animal products end markets. The company is based in Bolivar, OH (www.primarypackaging.com).  “We are very pleased with the outcome of this transaction. Mesirow Financial was instrumental in finding an experienced, strategic partner to help grow our business,” said Jeff Thrams, president of Primary Packaging.

Field Ventures was founded by packaging industry executive Larry Field, the former owner and CEO of Field Container Company, the largest privately-held U.S. integrated folding carton company until its acquisition by Altivity Packaging in August 2006. Field Ventures makes long-term investments in high-quality operating companies, where it can enter into true operating partnerships with the professional management teams of the companies it acquires. The firm is based in Northbrook, IL (no website found).

MCM Capital Partners invests in niche manufacturers, value-added distributors and service companies that generate up to $75 million in annual revenues and have enterprise values up to $50 million. The firm was founded in 1992 and is based in Cleveland, OH (www.mcmcapital.com).

DN Partners invests in lower middle-market companies generally based in the Midwest. DN Partners specializes in partnering with management teams to facilitate corporate spin-offs, family succession transactions, recapitalizations, buy and build strategies and management buyouts. The firm is based in Chicago, IL (www.dnpartners.com).

The Investment Banking group of Mesirow Financial focuses exclusively on the middle-market, serving both financial sponsors and corporate clients. The groups specialties include: Merger Advisory; Exclusive Sales and Divestitures; Buy-side Advisory; 363 Sales/Restructurings; Fairness/Solvency Opinions; Special Committee Representation; and Private Placements. Overall, Mesirow Financial is a diversified financial services firm with particular expertise in Investment Management, Global Markets, Insurance Services and Consulting.  Founded in 1937, Mesirow is an independent, employee-owned firm with more than 1,200 employees in offices across the US and in London, UK. The firm is headquartered in Chicago, IL (www.mesirowfinancial.com).

May 4, 2012 –   Teradata, a provider of analytic data solutions, and Aprimo, a Teradata company and a provider of integrated marketing management software, today announced the signing of an agreement to acquire eCircle, a provider of cloud-based digital marketing and a portfolio company of TA Associates.

eCircle is a full service digital marketing provider.  The company provides cloud-based solutions for email, mobile and social media marketing and offers opt-in lead generation and email media solutions. .  The company was founded in 1999 and is headquartered in Munich with additional offices in London, Paris, Milan, Utrecht, Madrid, Copenhagen and Krakow (www.ecircle.com).

“By joining forces with Teradata and Aprimo, we’ll be able to bring even more innovation to our digital marketing products, enabling our customers to deliver a superior user experience across channels while reducing campaign turnaround times, and making the whole marketing workflow more efficient,” said Volker Wiewer, chief executive officer, eCircle.

Teradata Corporation is the world’s leading analytic data solutions company focused on integrated data warehousing, big data analytics, and business applications.  The company is based in Dayton, OH (www.teradata.com).

Aprimo is a provider of marketing software and services that enhance the productivity and performance of marketing organizations.  The company is based in Indianapolis, IN (www.aprimo.com).

“Integrated marketing applications are strategic to our customers and to our business,” said Hermann Wimmer, president of Teradata EMEA. “This investment in eCircle’s leading digital marketing technology which will significantly enhance our consulting expertise and expand our applications team, will move us to being the largest marketing applications provider in Europe. I am thrilled to welcome the eCircle team in joining forces with Aprimo’s integrated marketing business and Teradata’s analytical capabilities to deliver a best in class marketing solutions to our customers.”

TA Associates makes buyouts and minority recapitalizations of profitable growth companies in the technology, financial services, business services, healthcare and consumer industries. Since founding in 1968 TA has invested in over 400 companies globally and has raised more than $16 billion in capital.  The firm has offices in Boston, MA; London, UK; Menlo Park, CA; and Mumbai, India (www.ta.com).