M&A Deal Summary

Kinderhook Industries Acquires IDQ Operating

On January 7, 2013, private equity firm Kinderhook Industries acquired automotive company IDQ Operating from Castle Harlan for 305M USD

Acquisition Highlights
  • This is Kinderhook Industries’ 3rd transaction in the Automotive sector.
  • This is Kinderhook Industries’ largest (disclosed) transaction.
  • This is Kinderhook Industries’ 18th transaction in the United States.
  • This is Kinderhook Industries’ 2nd transaction in Texas.
Investment Fate
  • IDQ Operating was sold to a strategic buyer in 2014.

M&A Deal Summary

Date 2013-01-07
Target IDQ Operating
Sector Automotive
Buyer(s) Kinderhook Industries
Sellers(s) Castle Harlan
Deal Type Secondary Buyout
Deal Value 305M USD
Advisor(s) Jefferies (Financial)

Target

IDQ Operating

Garland, Texas, United States
website
IDQ Operating, Inc. is a manufacturer of automotive A/C products for the “do-it-yourselfer” and professional service technician. IDQ offers a broad product line that includes value-added R-134a refrigerants to A/C tools and accessories, from one-step recharging and stop leak products to leak detection and lubricants.

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Buyer(S) 1

Buyer

Kinderhook Industries

New York, New York, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 2003
PE ASSETS 5.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Kinderhook Industries targets control investments in companies valued between $25 to $250 million. Prospective transaction situations include acquiring non-core divisions of public companies, existing small capitalization companies lacking institutional support, management buyouts of entrepreneurial-owned businesses, and troubled companies. Sectors of interest include consumer products and services, media, packaging, industrial products, communications, and business services. Kinderhook Industries was formed in 2003 and is based in New York, New York.


DEAL STATS #
Overall 19 of 58
Sector (Automotive) 3 of 13
Type (Secondary Buyout) 1 of 11
State (Texas) 2 of 7
Country (United States) 18 of 56
Year (2013) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-11-13 Nurse On Call

Lake Worth, Florida, United States

Nurse On Call is a Medicare licensed home health care agency that employs registered and licensed nurses to provide a variety of medically necessary services to home bound patients.

Sell $102M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-03-14 Absorption

Ferndale, Washington, United States

Absorption Corp. develops, manufactures and markets proprietary, cost-effective cellulose-based absorbent products for pets and industrial applications that are derived from waste wood cellulose (pulp), a by-product of the pulp and paper manufacturing process.

Sell -

Seller(S) 1

SELLER

Castle Harlan

New York, New York, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1987
PE ASSETS 6.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Castle Harlan is a large private equity firm that targets private company investments in the US and Australia. Castle Harlan targets businesses in a wide range of industries that include, packaging, industrial services, manufacturing, restaurants, business services, distribution, publishing, and transportation. Castle Harlan can provide both equity and mezzanine capital. The Firm is affiliated with Australian private equity firm CHAMP Private Equity, and together formed CHAMP - Castle Harlan Australian Mezzanine Partners. Castle Harlan was formed in 1987 and is based in New York City.


DEAL STATS #
Overall 30 of 38
Sector (Automotive) 2 of 2
Type (Secondary Buyout) 8 of 10
State (Texas) 4 of 5
Country (United States) 23 of 30
Year (2013) 1 of 2
Size (of disclosed) 7 of 19
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-11-30 Shelf Drilling

Dubai, United Arab Emirates

Shelf Drilling is an offshore jack-up rig operator engaged in the drilling and completion of offshore oil and gas wells. Shelf Drilling conducts drilling operations in Southeast Asia, the Middle East, India, West Africa, and North Africa / Mediterranean markets with a fleet of 37 independent-leg cantilever jack-up rigs and one swamp barge. Shelf Drilling was founded in 2012 and is based in UAE.

Buy $1.1B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-03-28 Securus Technologies

Dallas, Texas, United States

Securus Technologies is a provider of specialized telecommunications products and services, including security-enhanced call processing, call validation and billing for the corrections communications marketplace. Securus Technologies was founded in 1986 and is based in Dallas, Texas.

Sell -