2016 was an active and exciting year for Mirus Capital Advisors. We closed nine middle-market M&A transactions, in addition to supporting clients with development-stage growth equity financings. Our technology and industrial automation team closed two transactions for cutting-edge companies. The Whipstitch team closed multiple M&A and growth equity deals for innovative businesses in the food and beverage sector. Our business services team has closed multiple deals in the facility services industry and our healthcare team is advising clients ranging from medical devices to clinical laboratories. From ski resorts to musical instruments to software, Mirus’ work in 2016 truly represented a cross-section of the economy.
|
|
|
Competition among buyers remains high, as both strategic and financial investors have significant capital to deploy in M&A. We continue our focus on closely-held businesses in the $10 million to $100 million range and we’ve seen a wide range of transaction opportunities and situations this past year, from exciting pre-revenue technology to high growth tech-enabled services, software and highly engineered products in the automation and IoT market, and innovative consumer products. Our clients ranged from a small public company to closely-held companies with three to 30 shareholders, to single-shareholder businesses. Mirus continues to see a high level of activity in the middle-market and enters the year with a healthy level of transactions in process and active M&A discussions on behalf of our clients. We’re proud of what we and our clients accomplished this past year and are looking forward to an even more productive 2017!
|
|
Mirus’ recent partnership with
Whipstitch Capital, a consumer product focused investment bank led by experienced bankers
Nick McCoy and
Michael Burgmaier, brought additional talent and transaction activity to the firm. The Whipstitch team had an active 2016, particularly in the branded food and beverage sector, closing multiple private placements and three sell-side engagements, highlighted by the acquisition of healthy beverage company KeVita by PepsiCo.
"This transaction never would have happened without Whipstitch Capital & Michael Burgmaier and Nick McCoy, who have been working directly with KeVita since 2011. The pair made the initial introduction to Pepsi, structured and negotiated KeVita's
2013 transaction with Pepsi and have continued to advise KeVita through the ultimate strategic sale brilliantly," said Bill Moses, CEO of KeVita, Inc.
|
|
|
Representative Transactions:
Mirus closed nine deals over the past 12 months in vertical markets including software, industrial technology and business services. Some of the representative and more recent closings include:
|
|
INTERNET OF THINGS (IoT)
Mirus Capital Advisors served as exclusive financial advisor in arranging the sale of
Eutecus Inc. to
Sensity Systems Inc., a provider of a leading Internet of Things (IoT) platform for Smart Cities. Subsequent to the Eutecus transaction, Sensity was
acquired by Verizon.
Eutecus is part of the exciting and rapidly expanding IoT market, with special strength in Intelligent Lighting Systems (ILS). Intelligent Lighting Systems make use of video cameras built into lighting fixtures to collect data. Processed camera data is then used for numerous applications including lighting system control, parking assist, traffic control, retail analytics, security and other purposes. Mirus’ coverage of the IOT market and views on its continued growth are reflected in our recent publication
Initiating Coverage of Mergers and Acquisitions in IoT.
This is the sixth enterprise technology deal Mirus has closed over the last couple years, including the sale of
ideaPoint Inc. to Anaqua, a leading worldwide provider of intellectual property (IP) management software and services.
|
|
INDUSTRIAL TECHNOLOGY
The sale of
MagneMotion to
Rockwell Automation (NYSE: ROK). MagneMotion is a leading manufacturer of intelligent conveying systems that are used across a broad range of industrial applications including automotive and general assembly, packaging and material handling. This acquisition complements Rockwell Automation’s
iTRAK to create the broadest portfolio of independent cart solutions in this emerging technology area.
Mirus’s recent activities in the industrial technology sector include the cross-border divestiture
Spire Corporation’s sun simulator business and the sale of
BioPharm Engineered Systems, Inc., a leading provider of custom process equipment to the biopharmaceutical and pharmaceutical industries.
|
|
FACILITY SERVICES
The recapitalization of
FleetLogix by
Striker Partners, in order to help management pursue rapid growth and capitalize on a number of strategic opportunities. FleetLogix is the industry leader in providing managed labor and logistics solutions to rental car companies nationwide.
Other activity in the facility management industry includes the sale of test & certification provider
B&V Testing, a provider of cleanroom and controlled environmental testing and our current representation of a leading commercial cleaning company in the metro Boston area.
|
|
CONSUMER PRODUCTS AND SERVICES
The sale of
Verne Q. Powell Flutes, Inc. to
Buffet Crampon, a European manufacturer of woodwind and brass instruments and a portfolio company of Fondations Capital. Powell, which manufactures world-famous handcrafted flutes and piccolos for professional and conservatory musicians, fit with Buffet Crampon’s strategy of acquiring historical and significant wind instrument brands to build on its position as the global leader in the professional wind instrument market.
Other recent activity in the
consumer products sector includes the sale of
Hunter Mountain
, a premier New York ski area and one of the Catskills's premier winter resort destinations, to
Peak Resorts, Inc.
(NASDAQ:SKIS) and Whipstitch’s multiple branded food and beverage deal
s.
|
|
|
To learn more about Mirus Capital Advisors or howe can help your company meet its business goals in 2017, visit us at
www.merger.com or email
info@merger.com
|
|
|
|
|
|
|
