Industry Update

Tully & Holland Consumer Market Update March 2017

TullyandHollandTully & Holland is pleased to provide a market update for March 2017, highlighting notable transactions, recent market trends and a comprehensive list of transactions in the consumer space. This report is distributed on a monthly basis. We welcome your comments and feedback.

  • Total M&A transactions in the tracked consumer verticals were down 5% in March vs. prior year and down 27% from February.
  • Buyers remain cautious perhaps reflecting a level of political uncertainty, while several major retailers have responded to challenging economic times by announcing corporate restructuring.

Tully & Holland is currently working on a range of sell-side and buy-side assignments. A selection of these assignments include the following:

  • Leading Amazon marketplace merchant
  • All-natural artisanal cracker company
  • Multi-channel home decor company
  • Multi-location retailer of gift and accessories
  • International e-commerce client seeking brick & mortar retailer
  • Financial buyer seeking e-commerce platform

Founded in 1992, Tully & Holland, Inc. is a leading US investment bank that provides merger & acquisition advisory services and private placements to consumer companies with special emphasis on food & beverage companies, retailers, multi-channel marketers, consumer product manufacturers and distributors. For further information on Tully & Holland please visit our website at http://www.tullyandholland.com.

Read the full report.

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TM Capital Advises Midwest Wholesale Hardware in its Sale to High Road Capital Partners

TMCapital_250x125TM Capital is pleased to announce that we served as exclusive financial advisor to Midwest Wholesale Hardware, an investment holding of Olympus Partners, in its sale to High Road Capital Partners. Midwest Wholesale Hardware is a premier national wholesale distributor of commercial and institutional door hardware, electronic access controls and security solutions.

TM achieved an exceptional outcome for the sellers by coordinating a highly competitive process that illustrated the Company’s unique ability to serve immediate-need repair and maintenance demand with outstanding inventory depth, high-touch personalized service and value-added technical expertise. The transaction pairs management with the ideal financial partner to capitalize on Midwest’s leadership position to accelerate a multi-faceted growth plan and pursue strategic acquisitions.

  • Midwest Wholesale Hardware, headquartered in Kansas City, is a premier national wholesale distributor of commercial and institutional fire and life safety door hardware, electronic access controls and security solutions
  • With the industry’s largest next-day fulfillment platform, the Company provides expert customer service and offers an extensive inventory for immediate-need applications
  • This is the second transaction completed by TM Capital professionals for a middle market investment holding from Olympus Partners’ portfolio
  • Management and High Road Capital Partners plan to accelerate the Company’s growth by expanding its distribution coverage and pursuing strategic acquisitions

“While the private equity ownership of Midwest Wholesale Hardware had worked with the TM Capital team before, this was my first experience with them. What impressed me was the time they took to dig into and build out our company’s story in a compelling way, and then take our story effectively to the market. They prepared management well for each stage of our interactions and enabled us to focus on running the business. The senior partners were there literally every step of the way, and we enjoyed working with the whole team. In the end, they helped us find the right new partner in High Road Capital: a firm that knew our space and is excited to support us in our future growth plans.” – Chris Casazza, CEO, Midwest Wholesale Hardware

Read more.

Mass Capital Announces a New Investment in Tri-Wire Engineering Solutions, Inc.

MCRC_150x75MCRC is pleased to announce its participation in the financing of the sale of Tri-Wire Engineering Solutions, Inc. to a newly formed Employee Stock Ownership Plan (“ESOP”). Founded in 1999, Tri-Wire is a leading provider of installation, maintenance and other technical support services to the cable and telecommunications industries. The company has over 900 employees situated across twelve states. The sale to the ESOP makes the company one of the largest broadband service providers owned entirely by its employees.

For more information, visit their web site at www.triwire.net.

Mirus Capital Advisors Industry Report on IoT M&A Coverage

mirus_250x125The IoT sector is beginning to feel like the frontier of the Wild West in the mid-nineteenth century. Yes, indeed, it was the Gold Rush where Americans, European hunters and trappers, and wealth seekers from around the world risked everything to chase their fortunes in California. Over approximately a five-year period, 250,000 miners found a total of $200 million in gold (worth tens of billions in today’s dollars).

However, the vast majority of miners arriving late to the party ended up exhausted and broke. As panning gave way to more sophisticated and expensive mining technologies, so did the individual miner to large gold companies. At that stage, success on the frontier was defined by the ability to create and defend a community, improve productivity and use of the land, development of new markets, and ultimately, the conquest of competitors. Like the Gold Rush of the 1800s, IoT has started small and gathered momentum, changing company strategy, technology and social norms along the way.

The question in front of every IoT entrepreneur and investor now is: Where will you fit into the spectrum of success in this new era, the “Gold Rush of the 21st Century?”

Read the full report.

Audax Private Equity Announces 100 Closed Deals

audaxgroup_150x150Via Business Wire

Audax Private Equity (“Audax”) announced it has completed its 100th platform acquisition by partnering with management to acquire Mobileum, Inc. (“Mobileum”). Terms of the transaction were not disclosed.

Headquartered in Santa Clara, California, Mobileum is a leading provider of mobile telecom roaming and analytics software. Since its founding in 2001, Mobileum has been a key partner to over 600 mobile operator networks across 170 countries. Mobileum provides products including Voice and Data Roaming, Fraud Analytics, Data Monetization, Analytics for Customer Experience, and Service Performance Measurement & Assurance, which allow operator networks to deliver a superior customer experience and grow revenue.

Geoffrey Rehnert, Co-CEO of Audax, said, “Mobileum is one of the leading companies in the Mobile Roaming Software and Analytics industry. The company has developed an impressive suite of Analytics and Roaming products, making it an essential partner for mobile telecom carriers as they work to improve the roaming experience for their customers. We’re excited to partner with the team and support them in this next phase of growth. We are also pleased that Mobileum represents the hundredth platform acquisition for Audax since our founding in 1999, and we congratulate our hardworking and dedicated team on this great milestone.”

Read full article.

Berkshire Partners’ 2016 Year-End Summary

berkshirepartnersBerkshire Partners’ private equity team had an active year in 2016:

  • Invested in three new businesses: Masergy, Mattress Firm and Parts Town
  • Completed an initial public offering of Aritzia
  • Realized our investment in Tower Development Corporation
  • Achieved strong operating performance across the portfolio
  • Continued collaboration with Stockbridge, our marketable securities group

We are pleased to provide you with further details about our portfolio and the happenings at Berkshire in 2016. Click here to view the full summary in PDF format.

Virgin Pulse CEO & PTC VP of Corp Dev Join Internet of Things Company Expo | Oct. 27

header_emails_650x200_iotexpo

ACG Boston is bringing together a variety of companies affecting the Internet of Things (IoT) landscape that will showcase products and services that are changing the way people connect with their homes, cars, workplaces, devices and more for a new kind of networking experience: a company expo where you’ll get to connect with the companies and get hands-on experience with their products and services that are harnessing the innovative power of IoT to impact people’s lives.

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The event will kick off with a fireside chat about the transformative influence of IoT across industries, the deal environment, market trends, and future areas of growth between Chris Boyce, CEO, Virgin Pulse, Eric Goodness, VP Research of the Internet of Things team at Gartner, Inc., Iain Michael, Corporate Vice President, Corporate Development, PTC, and Matt Rudnick, Director of Business Development, Bowen Advisors.

Then, during the networking reception, you’ll have the chance to move about the room and connect with management from companies across multiple industries that are taking leadership positions in IoT, as well as test out their products and services.

Event Details

Thursday, October 27, 2016
4:00PM – 7:00PM
Boston Harbor Hotel
70 Rowes Wharf | Boston, MA

Members: $95.00
Young Professional Members: $75.00
Non-Members: $145.00

Learn more and register here.