News

C.W. Downer & Co. Announces Twelve Recent Transactions
  • Strong end to 2014 is followed by a fast start to 2015
  • Average Enterprise Value for Transactions is 100m

BOSTON, March 26, 2015 – C.W. Downer & Co.,a leading global middle-market investment bank, is pleased to announce the firm has closed eleven transactions and signed one additional transaction during the 18 week time period from November 3, 2014 to March 5, 2015. The successful transactions included nine divestitures and three acquisitions with a total transaction value of approximately $1.2 billion.

The twelve deals involved parties from across the globe, including China, Finland, Germany, Ireland, Italy, Sweden, the United Kingdom and the United States. Four of C.W. Downer & Co.’s specialty Industry practice groups were represented including Consumer (Prepared Foods, Frozen Bakery & Retail Services), Healthcare (Medical Devices), Industrials (Aerospace, Automotive, Turbines, Engineered Components & Materials) and Material Handling (Conveyors, Distribution, Automation).

“These transactions demonstrate the ways in which our combination of deep industry expertise and global reach creates substantial value for our clients,” said Arthur Gottlieb, Managing Director & Partner with C.W. Downer & Co. “We are confident our clients will continue to benefit from those strengths, particularly in this vibrant M&A environment,” he concluded.

A short description of each transaction is below.

The Sale of Leggett & Platt’s Store Fixtures Group to Lozier Corporation: Leggett & Platt’s Store Fixtures Group produces a broad range of customized retail fixtures, display cases, wall units, checkout units and point-of-purchase (POP) units for leading retail chains and consumer brands. Lozier has been manufacturing and supplying store fixtures to retail chains since 1956, and services retail customers in a variety of industries including grocery, automotive, hardware, pharmacy and sporting goods.

KRG Capital’s Sale of PAS Technologies Ireland: PAS Ireland is a leading provider of Maintenance, Repair, and Overhaul (MRO) services in the land based and aerospace turbine market with an expertise in hot section components. The company’s diverse customer list includes leading OEMs, tier I suppliers, electric companies and airlines. PAS Ireland also possesses numerous licenses and certifications which allow it to be a “One-Stop-Shop” to its customers providing a wide range of services including engineering, machining, brazing & heat treatments, coatings, and inspection.

The Sale of Transnorm Beteiligungen GmbH to IK Investment Partners: Transnorm is a manufacturer of specialty logistics and material handling conveying components and systems and is the current market leader in conveyor belt curve engineering and production. The company’s high performance products are critical to automated delivery systems in a wide variety of industries, including airport baggage handling, parcel handling and high speed warehouse distribution. The company was founded in 1957 and has enjoyed strong growth in recent years due to the increased focus on global e-commerce fulfillment and airline travel.

Prudential Capital Partner’s Sale of Fabrico: Fabrico is a leading supplier of mission-critical sealing and combustion engine components for the combustion and hot path sections of industrial gas and steam turbines. Offering up to 2,000 unique parts per year, Fabrico’s products are typically made from exotic alloys, require tight tolerances and are critical to the operating efficiency of the engine with frequent replacement schedules. Fabrico will join EnPro’s Technetics group which specializes in high performance sealing products for various markets including aerospace, power generation, and oil & gas.

The Sale of Evac Oy to IK Investment Partners: Evac is the leading provider of advanced vacuum toilets, wastewater collection and treatment units, dry & wet waste systems and fresh water generation systems for cruise ships, naval vessels, ferries, freighters and other ocean-going and river vessels, as well as for offshore oil & gas facilities and specialized land-based applications of the vacuum technology. With additional locations in the US, Germany, France, Norway, China and Korea, Evac is uniquely able to supply the full spectrum of onboard environmental systems for ships and offshore facilities.

Rogers Corp.’s Acquisition of Arlon: Arlon is a leading global provider of high frequency circuit materials and engineered silicones. Its corporate headquarters are in Bear, Delaware, with additional facilities in Rancho Cucamonga, California, and Suzhou, China. The company’s products are used for a variety of performance critical applications in industries such as telecommunications infrastructure, aerospace, military, and automotive. The Arlon divisions—circuit materials and silicones—represent an excellent strategic fit with Rogers’ existing Printed Circuit Materials and High Performance Foams business segments.

Lydall’s Sale of Charter Medical: Charter Medical is a leading designer and manufacturer of customized, single use medical devices and bio-containers for the collection, processing, storage and filtration of biological and bioprocessing fluids. These products are used in a variety of medical and life science applications including biopharmaceutical manufacturing, stem cell cryogenic freezing, blood transfusion and blood filtration. Charter Medical will join Solesis Medical Technologies which comprises the medical activities of Fenner’s Advanced Engineered Products (AEP) division.

Landshire, Inc.’s Sale of its Wholesale & Manufacturing Divisions to AdvancePierre Foods: Landshire has grown into one of the largest producers and distributors of high-quality, ready to eat sandwich products, breakfast foods and other complimentary products.Its state of the art manufacturing facility produces over 80 varieties of sandwiches, including patties, wedges, subs and breakfast products. AdvancePierre will also acquire certain wholesale grocery and food distribution accounts that will be serviced directly from this facility.

Arneg’s Acquisition of Manor Concepts: Manor Concepts Ltd. is a highly respected producer of innovative refrigerated display cabinets and energy saving cabinet door systems used by supermarkets and food & drink retailers in the UK and Ireland. The company also offers a complete project management service to oversee the design, creation and installation of its products. The current Manor team will remain with the company after the Arneg acquisition.

Dearborn Mid-West Company’s Sale to Hubei Huachangda Intelligent Equipment Co., Ltd.: Dearborn Mid-West provides comprehensive, end-to-end solutions (including design, engineering, fabrication, installation and maintenance) for complex, highly engineered material handling conveyor systems used in the North American automotive industry. HCD, a Shiyan, China manufacturer of automated production lines and one of China’s top 10 companies in the Conveyor industry, will benefit from DMW’s longstanding North American customer relationships and strong engineering and project management capabilities.

The Sale of Conditorei Coppenrath & Wiese GmbH & Co. KG to Dr. August Oetker KG (signed): Founded in 1975 by the cousins Aloys Coppenrath and Josef Wiese, Conditorei Coppenrath & Wiese is one of the market leaders within frozen bakery products in Europe. The company produces and markets branded and private label products including frozen cakes & tartes, bread rolls, pastries & sweets and cream desserts. Conditorei Coppenrath & Wiese has 2,200 employees and recorded annual revenues of close to EUR 385 million in 2014.

Specific details of the final transaction, Greencore Group plc’s acquisition of a US prepared foods company, have not been made public by the parties.

About C.W. Downer & Co.

C.W. Downer & Co. is an independent, global investment bank offering middle-market clients a high level of personal attention coupled with 40 years of international execution experience. We provide insight, not just information. We generate value, not just transactions. With nine fully integrated offices on four continents, we consistently identify the most appropriate strategic buyer and uncover hidden acquisition targets. C.W. Downer & Co. delivers the reach of a bulge-bracket investment bank with the senior level focus of a boutique. For more information, visit http://www.cwdowner.com.

For Further Information:

Arthur Gottlieb, Managing Director & Partner
This email address is being protected from spambots. You need JavaScript enabled to view it.
C.W. Downer & Co.
+1 617 482 6200

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© 2015 by C.W. Downer & Co.

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