Hilltop Private Capital and KCB Private Equity have acquired Spiral Binding, a manufacturer and distributor of print finishing and binding products. The existing shareholders of Spiral will remain as investors in the company and will continue to manage the business.
Spiral Binding is a manufacturer and distributor of print finishing, graphic arts, and presentation products that are used for binding, laminating, paper handling, photo finishing, and custom imprinting services. Spiral was founded in 1932 and is headquartered north of Newark in Totowa, NJ with six distribution centers located nationwide (www.spiralbinding.com).
“Hilltop and KCB took the time to understand the complexities of our business and the capital and operational resources they structured to meet our needs will help Spiral innovate and grow” said Rob Roth, CEO of Spiral.
Hilltop Private Capital invests from $10 million to $30 million of equity capital in US-based companies with $10 million to $150 million in revenue and $3 million to $20 million in EBITDA. Sectors of interest include business and industrial products, and services companies. The firm was co-founded by Managing Partners Drew Shea and Kate Lehman in 2016 and is headquartered in New York (www.hilltopprivatecapital.com).
The buy of Spiral is the third investment for Hilltop since its formation. “The Roth’s and the entire Spiral team have built an impressive business,” said Ms. Lehman. “The company’s national footprint, diverse product and service offering, blue chip customer base and multi-channel go-to-market capabilities are a great platform from which to execute our investment strategy and we are excited to partner with management to do so.”
KCB Private Equity, Hilltop’s co-investor, makes control investments in public or private companies that have $10 million to $60 million in revenue and $1 million to $8 million of EBITDA with margins of greater than 10%. Industries of interest include retail; consumer products and services; business services and outsourcing; healthcare services; education and training services and products; light manufacturing; and value-added distribution. KCB Private Equity was founded in 1986 and is based in Pasadena, CA (www.kcbpem.com).
“Spiral has demonstrated an ability to maintain its leadership position in its core markets while diversifying into adjacent markets to accelerate growth, an exciting dynamic in any business,” said Robert Blair, a KCB Managing Director.
Debt capital for this transaction was provided by TCF Capital Funding and QS Strategies, part of Quilvest Private Equity (www.quilvestprivateequity.com).
© 2017 Private Equity Professional | June 22, 2017
