Recapitalizations in 2014

Tracked deals

9

9 tracked deals across 2014.

Buyer mix

PE-led

13 pe · 2 investor

Top trend

Volume peaked in 2021

264 tracked deals announced in 2021.

Buyer Snapshot

Top Buyers

Illustrative buyers pulled from tracked transactions on this page. This table is capped and intentionally non-exhaustive.

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Buyer # Deals Focus Type
Pillsman Partners, LLC 2 Private investment firm focused on lower-middle-market co... PE
Banyan Investment Partners 1 Private investment firm that provides subordinated debt a... PE
Cerca Group LLC 1 Sector-focused private investment firm investing across b... PE
Cottonwood Acquisitions, LLC 1 Family office / acquirer of small niche businesses (inclu... Family Office
Dobbs Equity Partners, LLC 1 Investment vehicle of the John H. Dobbs, Jr. family that ... PE
Excellere Partners 1 Middle-market private equity firm focused on partnering w... PE
Frontenac Co. 1 Lower-middle-market private equity firm focused on consum... PE
MTS Health Investors, LLC 1 Healthcare-focused private equity firm that invests in op... PE
Main Street Capital Corporation 1 Public business development company providing long-term d... PE
Midwest Mezzanine Funds 1 Provider of mezzanine/junior capital to lower middle-mark... PE

Acquisition Volume in Recapitalizations in 2014 by Year

Last 10 years

Acquisition volume by year Annual acquisition counts for the last 10 years for Recapitalizations in 2014. 16 2017 11 2018 155 2019 138 2020 264 2021 226 2022 158 2023 157 2024 136 2025 ~185 est. 132 2026
Actual Full-year estimate

Supporting Data

Recent Transactions

  • Buyer
    Pillsman Partners, LLC, Banyan Investment Partners, Pine Street Capital Partners
    Target
    SST Conveyor
    Seller
    SST Bearings, Inc. and its shareholders
    Industry
    Manufacturing

    Pillsman Partners, Banyan Investment Partners and Pine Street Capital Partners have completed a recapitalization investment in SST Conveyor, the conveyor components division of SST Bearings (Loveland, Ohio). SST Bearings and its shareholders retain a significant ownership stake and will continue operational oversight; the investment is intended to fund growth initiatives and improve service to the company’s material-handling and distribution customers.

  • Buyer
    Midwest Mezzanine Funds, Cottonwood Acquisitions, LLC
    Target
    Pohlman Reporting Company
    Industry
    Legal Services

    Midwest Mezzanine Funds (MMF) invested $10.0 million in Pohlman Reporting Company to support a transaction in which Cottonwood Acquisitions is acquiring/recapitalizing Pohlman. Pohlman, headquartered in St. Louis, Missouri, provides court reporting, deposition transcription and litigation support tools, including document service and medical-records procurement services.

  • Buyer
    Cerca Group LLC, Main Street Capital Corporation, CAI management team
    Target
    Computer Associates, Inc. (CAI)
    Industry
    Software

    Cerca Group led a recapitalization of Computer Associates, Inc. (CAI), an ERP software provider serving food, lumber/building materials, precious metals refining, and jewelry manufacturing industries. The investment group included CAI's management team and Main Street Capital Corporation; CAI's founder James H. McCooey remains CEO and a board member, and financial terms were not disclosed.

  • Buyer
    Pillsman Partners, LLC, RFE Investment Partners, Squan management
    Target
    Squan Construction Services, LLC
    Industry
    Infrastructure

    Greenwich-based Pillsman Partners, alongside RFE Investment Partners and Squan management, recapitalized Squan Construction Services of Englewood, New Jersey to fund continued growth and support the company’s wireless infrastructure services. The transaction closed on October 10, 2014 and was structured as a recapitalization with investor partnership and management participation.

  • Buyer
    Dobbs Equity Partners, LLC
    Target
    The Universal Group Corporation
    Seller
    Annik Smith, Nick Smith
    Industry
    Manufacturing

    Dobbs Equity Partners completed a recapitalization of The Universal Group Corporation, providing partial liquidity to founders Annik and Nick Smith while the Smiths retain management roles and a meaningful ownership stake. The Universal Group, a distributor of leaf springs and suspension components to truck and trailer OEMs and aftermarket customers, will operate as The Universal Group LLC with capital to support growth and geographic/product expansion.

  • Buyer
    MTS Health Investors, LLC
    Target
    Florida Gulf-to-Bay Anesthesiology Associates, LLC

    MTS Health Investors has completed a recapitalization investment in Florida Gulf-to-Bay Anesthesiology Associates (FGTB), partnering with the physician owners to provide capital for future growth. FGTB, based in Tampa, Florida, provides anesthesia and pain management services to hospitals and ambulatory surgery centers in Florida and Indiana; management will retain a significant stake and terms were not disclosed.

  • Buyer
    Frontenac Co.
    Target
    Cloud Star Corp.

    Frontenac Co. has recapitalized Cloud Star Corp., a San Luis Obispo–based maker of natural pet treats, grooming products and pet merchandise. The investment from Frontenac’s recently closed fund will support product development and growth; Olivier Amice was named CEO and advisers on the deal included SDR Ventures and Winston & Strawn LLP.

  • Buyer
    Virgo Capital
    Target
    Sayers
    Industry
    IT Services

    Sayers, a Vernon Hills, Illinois–based IT solutions provider focused on data center infrastructure, enterprise security, and networking, completed a recapitalization led by private equity firm Virgo Capital. As part of the transaction Chris Callahan (previously President) was named CEO while founder Gale Sayers becomes Chairman Emeritus; the recapitalization is intended to support Sayers' next phase of growth and operational expansion.

  • Buyer
    Excellere Partners
    Target
    Frontline Energy Services, G2 Partners
    Industry
    Energy
    Location
    United States

    Denver-based private equity firm Excellere Partners completed investments in Frontline Energy Services (Flagstaff, AZ) and G2 Partners (Houston, TX) to combine the two businesses into an integrity and risk management solutions provider serving the energy and utility industries. The combined company will employ more than 275 professionals across three offices, with founders and senior management of both companies remaining in place; Excellere plans a buy-and-build strategy to expand capabilities and geographic reach.

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