Pfingsten Partners Mergers and Acquisitions Summary

Private Equity Firm Profile

In the last 3 years, Pfingsten Partners has acquired 1 company. It has also invested in 1 other.

Pfingsten Partners’ most common sectors for investment areelectrical equipment (15%) and distribution (13%) . The Firm’s most common investment types include buyout (lbo, mbo, mbi) (54%) and growth capital (19%). In total, Pfingsten Partners has invested in 21 US states.

In the last 3 years, Pfingsten Partners has exited 4 companies. The Firm’s most common exit type is trade sale (43%). Pfingsten Partners’ largest (disclosed) exit occurred in 2022 when it sold Dynapower Company for $580M.

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M&A Summary

  • M&A Total Activity92
    • M&A Buy Activity54
    • M&A Sell Activity38
  • Total Sectors Invested 18
  • Total Countries Invested 1
  • M&A Buy/Sell Connections 22
  • M&A Advisors 7

Pfingsten Partners

151 N. Franklin Street, Suite 2150,
Chicago, Illinois 60606
United States
(312) 222-8707
www.pfingstenpartners.com
pfingstenpartners@pfingsten.com

Pfingsten Partners is a private equity firm focused on investments in niche manufacturing, distribution, and business services companies. The Firm targets platform companies headquartered in the US although add-on acquisitions can be located outside the US. Prospective companies typically have revenues of $20 to $150 million and EBITDA of $3 to $12 million. Transaction types include private companies undergoing an ownership transition, corporate divestitures, strategic add-ons, and turnarounds. Pfingsten only invests in situations allowing for control. Pfingsten will not invest in real estate, natural resources, highly regulated businesses, retail, restaurants, early-stage companies, or technology. Pfingsten Partners was formed in 1989 and is based in Chicago, Illinois.


Investment Criteria

Sectors of Interest: Building Materials, Business Services, Distribution, Education, Electrical Equipment, Energy Services and Equipment, Engineering, Food, Furniture, Machinery, Manufacturing, Marketing, Media, Packaging, Publishing, Retail, Safety/Security

Target Transaction Types: Buyout (LBO, MBO, MBI), Divestiture, Recapitalization, Special Situations/Distressed, Secondary Buyout, Stake Purchase

Geographic Preferences: East US, Midwest US, South US, West US

Transaction Criteria Min Max
Target Revenue 20 150
Target EBITDA 3 12
Investment Size - -
Enterprise Value 15 100
values in millions of USD

M&A Summary

Buy vs Sell

Year ≤ '20 '21 '22 '23 '24 '25 T
Buy (0.8/yr) # 50 2 2 - - - 54
Sell (1.0/yr) # 33 1 4 - - - 38
vol $578M $690M $1.3B
  92

Most Recent M&A

Company Date Value Type
Quality Valve, Inc. 2022-12-08 - Secondary Buyout
Mobile, Alabama · www.qualityvalves.com
Full Spectrum Group LLC 2022-11-09 110M USD Add-on Acquisition
Laguna Hills, California · www.fsaservice.com
Fowler High Precision 2022-09-07 - Growth Capital
Canton, Massachusetts · www.fowlerprecision.com
Oliver, Inc. 2022-07-08 - Secondary Buyout
Twinsburg, Ohio · www.oliverinc.com
Dynapower Company LLC 2022-04-26 580M USD Add-on Acquisition
South Burlington, Vermont · www.dynapower.com
Fairbank Equipment, Inc. 2022-01-06 - Secondary Buyout
Wichita, Kansas · www.fairbankequipment.com
New England Electrical Contracting LLC 2021-10-20 - Growth Capital
Kingston, Massachusetts
Crane 1 Services, Inc. 2021-08-16 - Secondary Buyout
Miamisburg, Ohio · www.crane1.com
Omega Systems LLC 2021-03-15 - Growth Capital
Reading, Pennsylvania · www.omegasystemscorp.com
FireKing International LLC 2019-12-01 - Secondary Buyout
New Albany, Indiana · www.fireking.com
View All >>

Portfolio M&A

Company Acquired Add-On/Sale Date #
Burton Saw and Supply 2015-01-08 Simonds International LLC 2018-01-10 2
Springfield, Oregon · www.burtonsaw.com Springfield, Oregon · www.simondsint.com

M&A by Sector

Sector Current # Value All-time # Value
Electrical Equipment 2 (17%) - 8 (15%) -
Distribution 1 (8%) - 7 (13%) -
Machinery - - 6 (11%) -
Business Services - - 5 (9%) -
Manufacturing 2 (17%) - 5 (9%) -
Energy Services and Equipment 1 (8%) - 3 (6%) -
Publishing - - 3 (6%) -
Technology Hardware 2 (17%) - 3 (6%) -
Building Materials - - 2 (4%) -
Furniture 1 (8%) - 2 (4%) -
Marketing 1 (8%) - 2 (4%) -
Medical Products - - 2 (4%) -
Automotive - - 1 (2%) -
Food - - 1 (2%) -
Information Technology 1 (8%) - 1 (2%) -
Packaging - - 1 (2%) -
Safety/Security - - 1 (2%) -
Test/Measurement Equipment 1 (8%) - 1 (2%) -
Total 12 - 54 -

Acquisitions By Geo

State/Country Current # Value All-time # Value
United States 12 (100%) - 54 (100%) -
  Illinois - - 10 (19%) -
  Ohio - - 8 (15%) -
  Wisconsin 2 (17%) - 4 (7%) -
  Minnesota 1 (8%) - 4 (7%) -
  Florida 1 (8%) - 3 (6%) -
  California 1 (8%) - 3 (6%) -
  Texas - - 3 (6%) -
  Missouri - - 3 (6%) -
  Massachusetts 2 (17%) - 2 (4%) -
  Alabama 1 (8%) - 2 (4%) -
  Tennessee - - 2 (4%) -
  Pennsylvania 1 (8%) - 1 (2%) -
  Oregon 1 (8%) - 1 (2%) -
  North Carolina 1 (8%) - 1 (2%) -
  Kansas 1 (8%) - 1 (2%) -
  Vermont - - 1 (2%) -
  Michigan - - 1 (2%) -
  Indiana - - 1 (2%) -
  Georgia - - 1 (2%) -
  Colorado - - 1 (2%) -
Total 12 - 54 -

Acquisitions by Deal Type

Type Current # Value All-time # Value
Buyout (LBO, MBO, MBI) 4 (33%) - 29 (54%) -
Growth Capital 7 (58%) - 10 (19%) -
Secondary Buyout 1 (8%) - 7 (13%) -
Stake Purchase - - 5 (9%) -
Consolidation - - 2 (4%) -
Divestiture - - 1 (2%) -
Total 12 - 54 -

Exits by Deal Type

Type Total # Value
Secondary Sale 17 (45%) 315M (25%)
Trade Sale - Public Company 9 (24%) 953M (75%)
Trade Sale 9 (24%) -
Unknown 2 (5%) -
Recapitalization 1 (3%) -
Total 38 $1.3B

Top M&A Advisors

Financial Deals
Harris Williams & Co.
 1
The Jordan, Edmiston Group, Inc. (JEGI)
 1
Duff & Phelps Corp.
 1
Legal Deals
Paul Hastings LLP
 4
Katten Muchin Rosenman LLP
 1

Deal Values

sell # Total
$100M to $1B 4 $1.1B
< $100M 2 $135M
TOTAL $1.3B
Largest Dynapower Company LLC
$580M (2022-04-26)

M&A Connections

Deals
Acquired from
Investor(s)
15%
8 (15%)
Strategic(s)
2%
1 (2%)
Exited to
Investor(s)
45%
17 (45%)
Strategic(s)
42%
16 (42%)

Investor Summary

Investor Type

Private Equity Firm

Size

Large

PE Assets

1.3B USD

Established

1989

Specialist/Generalist

Generalist

Leadership

Scott Finegan

Senior Managing Director

Denio Bolzan

Managing Director

John Starcevich

Managing Director

Ken Hessevick

Managing Director

Phil Bronsteatter

Managing Director

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