US industrial deals May roundup
This is a roundup of US deals in May where an industrials company was involved either as a seller or a buyer and completion is pending, according to Mergermarket data. The date given is the last update published by this news service.
BAE Systems (19/05/2015)
BAE Systems (LON:BA) received first-round bids for its US businesses, according to a report by this news service. The segments will likely be valued at 8x to 9x EBITDA and are mostly being looked at by private equity firms.
TerraTherm (15/05/2015)
TerraTherm, a Massachusetts-based provider of thermal remediation services, has mandated Houlihan Lokey for a sale process., according to a report by this news service. The company, backed by venture capital groups Bison Capital and MassVentures, is said to have EBITDA of less than USD 50m.
ENTACT (15/05/2015)
ENTACT, the TGF Management and Austin Ventures-backed provider of field remediation and geotechnical construction services, is in a sale process with William Blair advising, according to a report by this news service. The company has around USD 30m in EBITDA and is likeliest to appeal to private equity suitors.
Arizona Chemical (15/05/2015)
Arizona Chemical, held by American Securities, has launched its sale process with Morgan Stanley and Credit Suisse co-advising, according to a report by this news service. Reuters initially reported in December that the company was exploring a sale and could be valued at more than USD 1.5bn. Books have been sent to both financial and strategic suitors.
Osmose Holdings (11/05/2015)
Osmose Holdings, the utility services group held by Oaktree Capital, is in a sale process with Harris Williams, according to a report by this news service. The company has around USD 60m in EBITDA.
Frequency Electronics (08/05/2015)
Frequency Electronics (NASDAQ:FEIM) has drawn interest from Mercury Systems (NASDAQ:MRCY) in its sale process with SunTrust that launched in March, according to a report by this news service.
TruckPro (08/05/2015)
TruckPro, the distributor of heavy-duty truck parts owned by Harvest Partners, has mandated Robert W. Baird and Barclays to explore a sale, according to a report by this news service. The company has around USD 50m in EBITDA and could fetch 7x EBITDA in the event of a sale. While mostly financial suitors will be drawn to the company, it could appeal to a large strategic player like LKQ (NASDAQ:LKQ).
Centor (08/05/2015)
Centor, a manufacturer of pill bottles, hired Morgan Stanley for a sale process slated to launch at the end of the month, according to a report by this news service. The company has around USD 60m in EBITDA.
Furmanite (07/05/2015)
Furmanite Corporation (NYSE:FRM) has retained Lazard as financial adviser to evaluate a nonbinding letter of interest from an unidentified potential acquirer, according to a press release.
Truck-Lite (07/05/2015)
Truck-Lite, a truck signals manufacturer co-owned by Penske and Kelso & Company, has retained RW Baird to explore a sale, according to a report by this news service. A sale could value the company, which has about USD 70m in EBITDA, at around USD 600m.
HydroChem (01/05/2015)
HydroChem, owned by Centerbridge Partners, has collected first-round bids in its sale process, which launched last month. Management presentations are expected to be held over the next few weeks for the company, which is reportedly working with Houlihan Lokey and Harris Williams on the effort and has around USD 70m in EBITDA.