2015: A Great Year
- An NFL team narrowly missed a perfect season (congrats friends in Charlotte).
- Presidential debates became the latest version of reality TV (to entertain and horrify).
- Mangrove Equity Partners closed six highly attractive acquisitions in spite of a very competitive environment.
In 2015, the Mangrove team was pleased to partner with three new platform companies and their management teams while supporting existing portfolio companies through three add-on acquisitions.
These transactions reflected Mangrove’s geographic reach throughout the U.S. and Canada; we completed deals in Atlanta, Chicago, Cleveland, Detroit, Denver, and Las Vegas. In some cases, the add-ons were as large as their respective platform companies.
Mangrove Equity Partners is pleased to announce our recent partnership with Dixie Diamond Manufacturing, Inc.
This partnership marks the closing of our fifth acquisition in 2015. Dixie Diamond Manufacturing is an Atlanta, GA based company that, for more than 40 years, has been producing high-performance synthetic diamond-tipped cutting tools using the most advanced materials, production techniques, and equipment.
As a result, Dixie produces diamond tools with higher safe operating speeds, greater diamond depth and longer operating lifetimes. We have enjoyed a great deal of success partnering with family businesses, such as Dixie, and we look forward to continuing that success in partnership with the team at Dixie Diamond.
Mangrove Equity Partners is pleased to announce the closing of our fourth acquisition in 2015 and second add-on for Tioga Air Heaters. The Mangrove team recently completed the acquisition of Mobile Air, Inc.; another meaningful add-on acquisition in support of Tioga.
The Mobile acquisition coupled with our earlier acquisition this year of Reliable Construction Heaters, Inc. triples EBITDA and adds significant diversification to the industries, customers and geographies served by Tioga, while reducing seasonality.
Mangrove Equity Partners: More Than the Commodity of Cash. The Mangrove team works hard to be your go-to private equity fund in the lower middle market by leveraging our extensive experience (130 deals across 59 industries) to find ways to get deals done.
Mangrove Equity Partners is pleased to announce the closing of our third acquisition in 2015.
The Mangrove team recently completed the acquisition of Reliable Construction Heaters, Inc. as a meaningful add-on acquisition in support of our portfolio company; Tioga Air Heaters.
The Reliable acquisition doubles the business and adds significant diversity to the industries, customers and geographies served by Tioga.
Reliable is a strong strategic fit for Tioga as the acquisition also provided:
- An additional go-to-market strategy given Reliable’s branch network
- The opportunity to leverage Tioga’s manufacturing capabilities and capacity to build Reliable’s fleet needs while capturing margin
- Increased Tioga’s geographic footprint through the Midwest and North East
- Evidence of Tioga’s focus and capabilities as an acquirer of strategically suitable companies in the sector, as Tioga continues to pursue growth through add-on acquisitions
Mangrove Equity Partners: More Than the Commodity of Cash. The Mangrove team works hard to be your go-to private equity fund in the lower middle market by leveraging our extensive experience (130 deals across 57 industries) to find ways to get deals done. Mangrove’s three-man internal operating team affords us an ability to leverage their extensive experience working closely with our portfolio company partners to overcome hurdles to growth, and optimizing shareholder value, as evidenced by our work with Tioga. Complexities/value building opportunities at Tioga where Mangrove’s operating assistance has been instrumental include:
Mangrove recently partnered with the Founder and management team of ReadyLIFT to effect a majority recapitalization of this leading designer and manufacturer of high-quality leveling and suspension kits for off-road enthusiasts in the automotive aftermarket. ReadyLIFT manufactures products for trucks and SUVs across numerous OEM brands including Ford, GMC, Dodge, Chevy, Toyota and Jeep. Mangrove was attracted to ReadyLIFT because of its dominant brand position, its talented team, and ReadyLIFT’s history of creating high-quality lift products. The Mangrove team has enjoyed considerable successes in the auto aftermarket and with other enthusiast-driven consumer product companies. We are excited to continue that success with ReadyLIFT. (more…)