Exit

MCM Capital Partners and DN Partners Exit Primary Packaging

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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).

TA Associates Exits eCircle

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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).

Clearview Capital Notches 68% IRR on Sale of EN Engineering

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May 2, 2012 -Clearview Capital’s recent sale of its portfolio company EN Engineering to CIVC Partners yielded a gross return of 4.5x invested capital for Clearview and a 68% internal rate of return over Clearview’s three-year hold period.  Clearview’s investment in EN Engineering was made through Clearview’s second fund which invests in and develops lower middle market companies in the business services, health care services, design/importing, distribution and manufacturing sectors.

“Throughout the period of our ownership of EN Engineering, the company’s management team did a terrific job building the business organically and through acquisition,” said James Andersen, co-Managing Partner of Clearview Capital. “EN Engineering is a world-class business and we are proud to have had the opportunity to partner with its management team and help the company through a phase of rapid growth.”

EN Engineering is an energy-focused professional services firm providing engineering, consulting, automation and integrity management services to the natural gas, liquid petroleum and related industrial markets. The company has 350 employees and is headquartered near Chicago in Woodridge, IL, with additional offices in Baltimore, Denver, and Kansas City (www.enengineering.com).

Clearview Capital invests in mid-sized manufacturing and service companies that have cash flow between $4 million and $20 million (lower levels of cash flow are considered for add-on acquisitions).  Clearview has in excess of $250 million under management and is currently making investments through its committed fund, Clearview Capital Fund II, LP.  The firm is located in Old Greenwich, CT (www.ClearviewCap.com).

Clearview’s other holdings include GCR, Inc., a professional services firm delivering consulting services and technology solutions to governmental and commercial clients; Child Health Holdings, Inc., d.b.a. Pediatric Healthchoice, the country’s largest operator of prescribed pediatric extended care centers; Pyramid Healthcare, Inc., a provider of in-patient and out-patient behavioral health services; The Results Companies, LLC, a Business Process Outsourcing (“BPO”) provider of customer management solutions; All Tech Inspections, Inc./IESCO, LLC, providers of inspection and nondestructive testing services to the refining, petrochemical market and other industrial process industries; Rowmark, LLC, a manufacturer and marketer of specialty plastic sheet and related products for the awards/recognition, engraving and signage markets; Air Cooled Exchangers, LLC, a manufacturer of air cooled heat exchangers used in natural gas compression applications; Senior Care Centers of America, Inc., the country’s largest operator of adult day care centers; Hillsdale Furniture, LLC, a designer and importer of wood and metal furniture; and a minority interest in Compression Polymers Group, the leading extruder of thick gauge polyolefin and PVC sheet, including AZEK brand trim boards.

Houlihan Lokey served as financial advisor and Loeb & Loeb served as legal advisor to EN Engineering.

Riverside Exits GreenLine Foods

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April 27, 2012 – The Riverside Company has completed the sale of GreenLine Foods, a producer of green beans, to Apio, a processor and marketer of fresh-cut specialty packaged vegetables.

GreenLine Foods is a nationwide provider of packaged, washed and trimmed fresh green beans. The company was founded in 1985 and is based in Bowling Green, OH (www.greenlinefoods.com).

Under Riverside’s ownership, GreenLine invested in new product development, expanded and diversified its grower relationships, and expanded its retail and foodservice customers.  Additionally, Riverside’s 2007 add-on acquisition of Green Glen Produce gave GreenLine processing capabilities on the East Coast and a well-located distribution center.  “We are proud of the work we’ve done with GreenLine,” said Riverside Partner Tim Gosline. “We were able to overcome several unusual weather challenges, complete a valuable add-on acquisition, and help GreenLine protect its spot at the top of the value-added vegetable market space.”

Working with Mr. Gosline for Riverside on the sale of GreenLine were Operating Partner George Benson, Partner Sarah Roth, and Vice President Ryan Richards. Origination Principal Amy Margolis worked with the deal team and the sell-side advisor to facilitate the exit.       Harris Williams & Co. advised Riverside on the sale of GreenLine, and Jones Day provided legal counsel on the transaction.

The Riverside Company is a private equity firm focused on the smaller end of the middle market (“SEMM”).  Riverside specializes in investing in SEMM companies (those valued up to $200 million) and partners with management teams to build companies through acquisitions and value-added growth.  Since 1988, the firm has invested in 280 transactions with a total enterprise value of more than $6 billion. The firm is headquartered New York with additional offices in Atlanta, Chicago, Cleveland, Dallas, Los Angeles, San Francisco, and London (www.riversidecompany.com).