Top 10 Deals of 2009
FEATURE
Deal-making activity in the global fastener industry last year was by far the slowest since FIN began compiling this Top Ten Deals of the Year list thirteen years ago, reported Richard Hagan of Pinnacle Capital Corp.
“There does appear to be a pick-up in fastener industry deal activity so far in 2010.”
2009 – Top Ten Deals of the Year (arranged in chronological order )
1. On January 1, 2009, Grupo Celo purchased MEA Befestigungssysteme GmbH (“MEA Fastening Systems”) from MEA Group AG.
2. On January 14, 2009, Penn Engineering & Manufacturing Corp. (“PennEngineering”) purchased 3V Fasteners Company Inc.
3. On June 3, 2009, Alcoa Fastening Systems (“AFS”) purchased Demicron SNC of Casablanca.
4. On July 17, 2009, Wynnchurch Capital Ltd. purchased the assets of Cincinnati-based SENCORP out of Chapter 11 bankruptcy.
5. On August 31, 2009, Acme Manufacturing Co. purchased Lancaster Threaded Products Inc., one of three U.S. threaded rod makers that Acme has acquired over the last two years.
6. On September 2, 2009, Industrial Opportunity Partners LLC (“IOP”), in partnership with the existing share-holders and senior management, recapitalized Carlson Systems Holdings Inc. (“Carlson”) and its two operating subsidiaries, Carlson Systems and Mid-Atlantic Fasteners.
7. On September 14, 2009, Interfast Inc. purchased UK-based Burwood Fastener Products Ltd.
8. On October 30, 2009, Thayer / Hidden Creek LLC, in partnership with the existing shareholders and senior management, recapitalized Herndon Products Inc.
9. On November 9, 2009, A. Raymond & Co. purchased Tinnerman Palnut Engineered Products Inc. from a group of private equity owners.
10. On December 18, 2009, the Fastenal Company (Nasdaq: FAST) purchased the assets of the Holo-Krome division of Danaher Corp.
For more of Hagan’s comments, including his forecast for the remainder of the year and full details of these transactions, click HERE.
Editor’s Note: For confidential information on specialized investment banking services provided by Pinnacle Capital Corp., contact Richard P. Hagan – President. Address: 130 Water Street, Suite 12G, New York, New York 10005. Phone: 212-267-8200 E-mail: rphagan@pinnaclecapitalcorp.com All contacts and inquiries will be held in the strictest confidence.
©2010 GlobalFastenerNews.com
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