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JLL Partners Acquires The Protective Group

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protective group nf2Point Blank Enterprises, a portfolio company of JLL Partners, has acquired The Protective Group, a maker of armor used in military applications.

The Protective Group (TPG) develops, designs and produces lightweight composite armor that is used to protect soldiers, aircraft (mainly helicopters) and vehicles. The company’s products have been deployed by the US Army, US Special Operation Forces, US Marine Corps, US Navy, and US Air Force. TPG was founded in 1960 and is based in Miami Lakes, FL with an additional facility in outside of Huntsville in Madison, AL (www.protectivegroup.com).

“The acquisition of TPG strengthens our product and technology portfolio in personnel body armor protection, while adding new capabilities in the areas of engineering and systems integration for both aircraft and vehicular armor,” said Daniel Gaston, Chief Executive Officer of Point Blank.  “Our businesses have complementary assets and sell to many of the same branches of the US Military.”

PB outer tactical vest nf3Point Blank, acquired by JLL Partners in June 2015, is the largest provider of soft body armor to the US military and US law enforcement. Point Blank’s primary products are tactical vests, but the company also manufactures concealable vests and hard armor plates. Other products include third-party helmets and tactical shields. The company was founded in 1973 and is headquartered in Pompano Beach, FL with an additional production facility in Santo Domingo, DR (www.pointblankenterprises.com).

JLL Partners invests in companies across a range of manufacturing and service industries. Sectors of specific interest include healthcare, building products, financial services, aerospace, and business services.  Since its founding in 1988, the firm has invested approximately $4.4 billion across six funds.  JLL Partners is based in New York (www.jllpartners.com).

The seller of TPG was Exxel Group, a Buenos Aires-based private equity firm founded in 1991 by Juan Navarro.

Middle-market investment bank SSG Capital Advisors was the exclusive financial advisor to TPG. SSG has offices in New York and Philadelphia (www.ssgca.com). Paul Keenan of Greenberg Traurig (www.gtlaw.com) provided legal counsel to TPG.

© 2015 PEPD • Private Equity’s Leading News Magazine • 11-13-15

ShoreView Acquires Tex Tech Industries

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Private equity firm ShoreView Industries has acquired Tex Tech Industries, a developer and manufacturer of high performance materials and products.

Yukon Partners supported this acquisition with a mezzanine debt and equity co-investment in Tex Tech.  “We are very excited to partner with Yukon on Tex Tech. They brought relevant end market expertise and were very responsive throughout the closing process,” said Thomas D’Ovidio, Partner at ShoreView.

Tex Tech develops and manufactures over 1,500 engineered, high performance materials and products for niche applications. The company’s products include ballistic materials for soft body armor; fire blocking, thermal, and insulation used in aircraft; high temperature filtration applications used in the power plant, cement, and asphalt industries; and tennis felt used in tennis balls. The company serves a base of over 400 customers across a number of markets including aerospace, law enforcement and military, filtration, sporting goods, and industrial. Tex Tech was founded in 1904 and is headquartered in Portland, ME (www.textechindustries.com).

Yukon Partners is a mezzanine finance firm dedicated to serving middle market private equity sponsored business transactions with a typical investment range of $10 to $40 million.  The transactions in which Yukon invests include buyouts, growth and platform strategies, recapitalizations, mergers/acquisitions, public to private buyouts, and refinancings.  The firm is based in Minneapolis (www.yukonpartners.com).

“Tex Tech has unique manufacturing capabilities and we believe the company is well positioned to make further inroads in the diverse end markets it already serves, said William Dietz, Managing Partner at Yukon.  “ShoreView’s value-added operating expertise coupled with management’s experience will provide a foundation for continued success.  We are excited to have this opportunity to partner with ShoreView.”

ShoreView Industries invests in US based middle market companies across a range of industries with revenues ranging between $20 million and $300 million. The firm currently has $600 million of capital under management and is based in Minneapolis (www.shoreviewindustries.com).

© 2012 PEPD • Private Equity’s Leading News Magazine • 11-30-12

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