Who We Are
As partners, we own the outcome. Teamwork is central to our culture. We are better collectively than we are as individuals.
We are a highly motivated team that works seamlessly together.
Our senior bankers have held leadership positions at bulge bracket firms, but we prefer the client flexibility of operating within an independent, collaborative partnership.
Our partners average over 20 years of investment banking experience.
We have worked on a wide variety of complex transactions on behalf of some of the largest and most sophisticated companies in the world.
Our track record of repeat business is a testament to our work quality and our ability to achieve clients’ objectives.
John “Yogi” Spence
Chris Dell Isola
What We Do
- XMS professionals have an extensive track record of successfully executing hundreds of strategic transactions for both public and private companies as well as private equity firms, with deal values from the tens of millions to the tens of billions
- Our strategic experience covers a wide range of transaction types, including:
- Cross-border transactions
- Corporate carve-outs
- Takeover defense
- Minority investments
- Joint ventures
- Fairness opinions
- We have been in the M&A business for a long time. There are no short cuts in developing expert deal judgment. It only happens through years of hard work and driving the completion of scores of transactions
- We also pride ourselves in our ability to execute particularly complex transactions. Some of our best work occurs in the most harrowing moments.
- Our skill sets go far beyond the M&A focus of the typical boutique investment bank
- Our experience has been honed in the boardrooms and C-suites of some of the largest and most sophisticated companies in the world
- We focus on the shareholder value impact of financial and strategic alternatives
- We have an extensive track record of providing advice on a wide range of financial topics, including:
- Capital structure analysis and alternatives
- Credit advisory
- Dividend policy
- Share repurchase alternatives
- Risk management
- Shareholder relations
- We provide clients with strategic and tactical advice on all aspects of raising capital. We combine deep industry knowledge with decades of expertise to provide clients with independent and creative advice on the key structuring and execution issues across a range of financing types, from IPOs and follow on offerings to convertible securities and debt (from traditional high yield debt to venture debt and royalty financing).
- We have extensive experience customizing securities to address our clients’ needs and we have a powerful network of public and private investors looking for investment opportunities.
- Whether a company is seeking to raise equity, debt or project financing, we have the expertise and judgment to assist in the capital raise. If needed, we partner with other firms that may have broader distribution capabilities to achieve our clients’ goals and objectives.
- XMS professionals have expertise in helping companies and lenders navigate the complex and challenging task of addressing balance sheet issues, including:
- Out-of-court restructuring
- Covenant amendments
- Rescue financing
- Distressed M&A
- Chapter 11 restructuring
- Prepackaged plans of reorganization
- 363 asset sales
- Our longstanding industry relationships and independent, advisory focused model enable us to work effectively with companies, banks, bondholders, investors and other key constituents in seeking both out-of-court and in-court restructuring solutions
- The highly professional and discrete nature of XMS allows custom tailored advice to each client, and minimizes disruption to customers, employees, and others key to the day-to-day business
- With the combined experience of our professional team, it is safe to say that we have executed transactions in virtually every industry. Having said that, we have particular strength in the following industry groups.
- Business Services
- Consumer Products
- Financial Services
- Food & Beverage
- Sports & Entertainment
- Headquartered in Chicago, we operate globally with full service offices in London and Dublin and have operating partnerships with advisory firms in India and China.
Long term philosophy
It is our firm and we take the long view
Direct access at highest levels globally
Independent, unbiased advice
Industry reach and proprietary databases
Repeat business is our hallmark
Team based culture
Clients benefit from collective experience and collaboration
We earn the role of trusted advisor
Commitment to Excellence
Obsessed with getting it right every time
Because each situation is unique
Our word is our bond
May 11, 2016
XMS Capital Partners Launches XA Investments
XA Investments Hires Seasoned Product Development Professionals to Build Platform
Chicago, IL (May 11, 2016) – XMS Capital Partners, LLC (“XMS”), a leading Midwest boutique investment bank, has announced the launch of XA Investments LLC (“XAI”) to provide innovative solutions to the asset management industry.
The firm has hired Kimberly Flynn as Managing Director of Alternative Investments and John McGarrity as Managing Director and General Counsel to build the XA Investments business. Kim joins the firm from Nuveen Investments where she served as the Head of Product Development for the Global Structured Products Group which is responsible for the development and management of the firm’s closed-end fund complex. John joins the firm from River Branch Holdings, where he served as Managing Director and General Counsel, and prior to that was Head of Product Development for Man Investments, Inc. and a Partner at Sidley Austin LLP.
XAI is a new Chicago-based firm focused on building a platform in the registered funds space for alternative investments. The XA Investments leadership team believes that the investing public needs better access to a broader range of alternative investment strategies and managers, historically available only to institutions and ultra-high net worth investors.
“The growth of our business, with the addition of XA Investments, further strengthens and diversifies the XMS business. As we celebrate our 10th anniversary this year, the development of XA Investments is a natural step in the progression of our firm and positions us well for the future,” said Ted Brombach, Founding Partner of XMS and co-CEO of XA Investments.
XAI is focused on innovation in the asset management industry and is planning to improve product structure, fee arrangements and channel distribution with an alternative product platform. These innovations will make alternative investments more accessible to the investing public.
About XA Investments: XA Investments is a Delaware Limited Liability Corporation and was founded in April 2016 in Chicago by the principals of XMS Capital Partners. www.xainvestments.com
About XMS Capital Partners: XMS Capital Partners is a boutique investment bank and was founded in August 2006 by a core group of senior investment bankers formerly with Morgan Stanley. The firm specializes in M&A advisory, capital markets advisory, capital raising and restructuring. XMS is headquartered in Chicago with international offices in London and Dublin. The firm holds a core belief that clients value committed, independent investment banking relationships over transactional focus. XMS has a long-term, relationship based approach to serving clients which it calls “Involvement Banking™”. XMS Capital Partners, LLC is a FINRA member and SIPC member. For more information, visit the company website at www.xmscapital.com.
If you are a member of the news media and have questions about a recent announcement, would like to request an interview or need additional information, please contact a member of the XA Investments team.
For non-media inquiries, please visit www.xainvestments.com or send an email to
April 20, 2016
Bemis Company to Acquire Packaging Operations of SteriPack
NEENAH, Wis.--(BUSINESS WIRE)--Apr. 20, 2016-- Bemis Company, Inc. (NYSE:BMS) today announced that it has signed a definitive agreement to acquire the medical device packaging operations and related value-added services of SteriPack Group, a global manufacturer of sterile packaging solutions for medical device and pharmaceutical applications. This acquisition includes a facility in Ireland as well as packaging production assets in Malaysia and the United States. These operations recorded annual net sales of approximately US$65 million in fiscal 2015. SteriPack Group will continue to independently own and operate its contract manufacturing services business. Details of the transaction were not disclosed. The transaction is expected to close effective April 29, 2016.
“This acquisition supports Bemis’ strategy to grow our healthcare packaging business,” said William F. Austen, President and Chief Executive Officer of Bemis Company, Inc. “SteriPack’s strong customer relationships and modern clean room operations will complement our new and expanding global healthcare operations and will increase our capacity to meet the needs of the growing healthcare industry. We expect this acquisition to be modestly accretive to earnings per share in 2016.”
XMS Capital Partners, LLC is acting as financial advisor and Squire Patton Boggs LLP is acting as legal advisor to Bemis Company.
Mason Hayes Curran is acting as legal advisor and Russell Brennan Keane and Deloitte are acting as tax advisors to SteriPack Group.
ABOUT STERIPACK GROUP
Founded in 1994, SteriPack Group provides cleanroom sterile packaging solutions and contract manufacturing services for many of the world’s medical device, pharmaceutical, and allied healthcare industries. More information about SteriPack is available at http://steripackgroup.com/.
ABOUT BEMIS COMPANY, INC.
Bemis Company, Inc. (“Bemis” or the “Company”) is a major supplier of flexible and rigid packaging used by leading food, consumer products, healthcare, and other companies worldwide. Founded in 1858, Bemis reported 2015 net sales of $4.1 billion. Bemis has a strong technical base in polymer chemistry, film extrusion, coating and laminating, printing, and converting. Headquartered in Neenah, Wisconsin, Bemis employs approximately 17,500 individuals worldwide. More information about Bemis is available at our website, www.bemis.com.
April 05, 2016
XMS Capital Partners advises Aon FPE in being acquired by Jensen Hughes
BALTIMORE--(BUSINESS WIRE)--JENSEN HUGHES (the “Company”), the global market leader in the fire protection engineering, fire code consulting and related life safety services industry, announced that it has completed the acquisition of Aon Fire Protection Engineering Corporation (“Aon FPE”). Formerly known as Schirmer Engineering, Aon FPE is one of the leading global providers of fire protection engineering, fire code consulting and security services to commercial, industrial and government facilities through 15 office locations in North America and a significant presence in the Middle East. JENSEN HUGHES is majority-owned by Gryphon Investors, a middle market private equity firm based in San Francisco, which purchased the Company in partnership with management in December 2015. Terms of this transaction were not disclosed.
The combination of JENSEN HUGHES and Aon FPE brings together the two leading brands in the industry and increases the technical expertise and resources available to provide fire protection and forensic engineering, risk analysis and fire modeling, system design, code consulting, commissioning, research and testing and project management solutions that encompass fire protection, life safety, security and related disciplines to clients of both companies on a global basis. After the acquisition, JENSEN HUGHES will provide services to a majority of the Fortune 500 companies and other blue chip clients through more than 60 offices in North America, Asia and the Middle East and will employ nearly 1,000 professionals.
JENSEN HUGHES CEO Phil Rogers stated “We are very excited to have completed the highly strategic acquisition of Aon FPE which is one of the leading firms in our core market and shares with JENSEN HUGHES a commitment to technical excellence and the capability of addressing its clients’ most complex engineering needs. This acquisition adds a talented group of managers and engineers to the JENSEN HUGHES team and strengthens our ability to provide lifecycle consultancy services to clients all over the world.”
“The strategic vision and investment commitment of Gryphon coupled with the combined breadth of technical offerings, global office locations and commitment to expansion and growth of Aon FPE provides significant opportunities for both our clients and colleagues,” added Neil Harrison of Aon Risk Solutions (“Aon”), the worldwide provider of risk management and insurance broking and former parent company of Aon FPE.
XMS Capital Partners, LLC acted as financial advisors to Aon. Sidley Austin LLP acted as legal advisor to Aon, while Kirkland & Ellis LLP provided legal advice to JENSEN HUGHES.
About JENSEN HUGHES
JENSEN HUGHES, Inc. (JENSEN HUGHES) is a leading provider of specialty engineering services to the built environment and the global market leader in the fire protection engineering, fire code consulting and related life safety services industry. The Company’s engineers, consultants and scientists develop and deliver innovative and cost effective solutions to a global client base involving fire protection systems design and analysis, code consulting, hazard and probabilistic risk assessments, forensic engineering, fire research, development and testing, commissioning and security services. Operating from offices throughout North America, Asia and the Middle East, JENSEN HUGHES consulting teams participate on projects around the world. For more information call +1 410.737.8677 or visit jensenhughes.com.
About Aon Fire Protection Engineering Corporation
Aon Fire Protection Engineering (Aon FPE) is a global provider of life safety, building code and security consulting services specializing in fire protection engineering solutions. For over 70 years, they have provided high quality fire protection and life safety services to clients and projects throughout the world. Offering a comprehensive set of design and risk management services for every building type, delivered through technical experts in offices throughout North America and the Middle East, they provide specific knowledge of local codes and standards that help clients reduce project costs while achieving building code compliance and occupancy deadlines. For more information call +1 847.442.6300.
April 04, 2016
XMS Capital Partners advises Hennessy Capital Acquisition Corp II in merger with USI
HENNESSY CAPITAL ACQUISITION CORP. II AND USI ANNOUNCE MERGER AGREEMENT
NASDAQ-Listed Public Company to be Re-Named USI Holdings, Inc. and Managed by USI’s Existing Management Team
HOUSTON, TEXAS AND ST. PAUL, MINNESOTA – April 4, 2016 /GlobeNewswire/ - Hennessy Capital Acquisition Corp. II (NASDAQ: HCAC, HCACU, HCACW) (“HCAC”) and United Subcontractors, Inc. (“USI”) today announced that they have entered into a definitive merger agreement, pursuant to which HCAC will acquire all of the outstanding capital stock of USI Senior Holdings, Inc., the indirect parent company of USI. In connection with the merger, HCAC will change its name to USI Holdings, Inc. and continue to list its common stock and warrants on the NASDAQ Capital Market under the tickers “USI” and “USIW,” respectively.
USI is a leading provider of installation, construction and distribution services to the residential and commercial construction markets in the United States, with a national platform consisting of 43 locations serving customers in 13 states. USI believes it is the third largest insulation installer in the U.S. based on revenue and maintains the first or second market position in more than 50% of its local markets based on estimated permits issued. USI benefits by having a national scale, long-standing vendor relationships and a diverse customer base that includes production and custom homebuilders, multi-family and commercial contractors and homeowners.
“HCAC is extremely pleased to introduce USI to the public markets,” said Daniel J. Hennessy, Chairman and CEO of HCAC. “USI is a truly differentiated building products company with an industry-leading platform led by an exceptional management team. We believe that USI’s established presence in high-growth construction markets when combined with strategic acquisitions will lead to sustained revenue growth and profitability for our stockholders.”
The combined company will be led by current USI President and CEO, Bill Varner, who added, “Today is an exciting day for USI. As a public company, we will be better positioned to grow our product and service offerings, make accretive acquisitions and open branches in new markets. We are thrilled to have Dan and HCAC as partners.”
Under the terms of the merger agreement dated as of April 1, 2016 (the “Merger Agreement”), the aggregate merger consideration is $348.5 million, subject to certain adjustments. HCAC will pay the total merger consideration with a combination of cash and newly issued shares of common stock. The cash consideration will be funded through a combination of (i) cash held in HCAC’s trust account after any redemptions of HCAC common stock, (ii) cash raised in an anticipated $100.0 million debt financing, and (iii) the net proceeds, if any, received by HCAC from a potential private placement (at HCAC’s option) of up to $35 million of HCAC’s convertible preferred stock to one or more institutional investors. The stock consideration will equal approximately 7.1 million shares of HCAC common stock, which will result in USI’s stockholders owning approximately 22% of the combined company (assuming no redemptions of HCAC common stock or purchase price adjustments).
The Merger Agreement contemplates that the Board of Directors of the combined company will consist of seven members: HCAC’s CEO and Chairman Daniel J. Hennessy, who will serve as Chairman of the Board; Bill Varner, USI’s CEO; current HCAC directors Richard Burns, Kevin Charlton, and Peter Shea; Michael Kestner, the former CFO of BMC Stock Holdings, Inc. (NASDAQ: STCK); and an additional USI designee. The transaction is subject to the satisfaction or waiver (if applicable) of customary closing conditions, including regulatory and HCAC stockholder approvals and the receipt of proceeds from HCAC’s anticipated debt financing, and is expected to close promptly following HCAC’s special stockholders’ meeting to approve the transaction. The parties expect the transaction will be completed in the third quarter of 2016.
HCAC was advised on the transaction by UBS Investment Bank, Cantor Fitzgerald & Co., BMO Capital Markets and XMS Capital Partners, LLC, as financial advisors, Sidley Austin LLP and Ellenoff Grossman & Schole LLP, as legal counsel, and with Grant Thornton LLP providing financial due diligence services. USI was advised by RBC Capital Markets, as financial advisor, and Willkie Farr & Gallagher LLP, as legal counsel.
The description of the transaction contained herein is only a summary and is qualified in its entirety by reference to the Merger Agreement, a copy of which will be filed by HCAC with the Securities and Exchange Commission (the “SEC”) as an exhibit to a Current Report on Form 8-K.
Conference Call and Investor Presentation
HCAC and USI Management will hold a joint conference call tomorrow, April 5, 2016, to discuss the transaction at 10:00 a.m. (Eastern Time). The conference call can be accessed by dialing 1-877-407-9039, or for international callers, 1-201-689-8470, and requesting to be joined to the Hennessy Capital-USI conference call. A replay will be available starting at 7:30 p.m. (Eastern Time) on April 5, 2016 and can be accessed by dialing 1-877-870-5176, or for international callers, 1-858-384-5517. The passcode for the replay is 13634449. The replay will be available until 11:59 p.m. (Eastern Time) on April 19, 2016.
Interested investors and other parties may also listen to a simultaneous webcast of the conference call by logging on to HCAC’s website at www.hennessycapllc.com/hcac-ii/, where an investor presentation has also been posted. The online replay will remain available for a limited time beginning immediately after the conclusion of the call.
About Hennessy Capital Acquisition Corp. II
Hennessy Capital Acquisition Corp. II is a blank check company founded by Daniel J. Hennessy for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. The company's acquisition and value creation strategy is to identify, acquire and, after its initial business combination, build an industrial manufacturing, distribution or services business.
USI (formerly referred to as United Subcontractors Incorporated) was founded in 1998, and is a leading provider of installation, construction and distribution services to the residential and commercial construction markets. Headquartered in St. Paul, Minnesota, USI employs more than 1,800 personnel in 43 locations across 13 states. For more information about USI, please visit USI’s website at www.usiinc.com.
Additional Information About the Transaction and Disclaimer
The proposed transaction will be submitted to stockholders of HCAC for their consideration. HCAC intends to file with the SEC preliminary and definitive proxy statements in connection with the proposed transaction and other matters and will mail a definitive proxy statement and other relevant documents to its stockholders as of the record date established for voting on the proposed transaction. HCAC’s stockholders and other interested persons are advised to read, once available, the preliminary proxy statement and any amendments thereto and, once available, the definitive proxy statement, in connection with HCAC’s solicitation of proxies for its stockholders’ meeting to be held to approve, among other things, the proposed transaction, because these documents will contain important information about HCAC, USI and the proposed transaction. Stockholders may also obtain a copy of the preliminary or definitive proxy statement, once available, as well as other documents filed with the SEC that will be incorporated by reference in the proxy statement, without charge, at the SEC’s website located at www.sec.gov or by directing a request to Nicholas A. Petruska, Executive Vice President, Chief Financial Officer and Secretary, 700 Louisiana Street, Suite 900, Houston, Texas, 77002, or by telephone at (713) 300-8242. This news release does not constitute an offer to sell or the solicitation of an offer to buy any securities, or a solicitation of any vote or approval, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No portion of HCAC’s or USI’s websites is incorporated by reference into or otherwise deemed to be a part of this news release.
Participants in the Solicitation
HCAC and its directors and executive officers and other persons may be deemed to be participants in the solicitations of proxies from HCAC’s stockholders in respect of the proposed transaction. Information regarding HCAC’s directors and executive officers is available in HCAC’s Annual Report on Form 10-K/A (the “Annual Report”), filed by HCAC with the SEC on February 22, 2016. Additional information regarding the participants in the proxy solicitation and a description of their direct and indirect interests will be contained in the proxy statement when it becomes available and which can be obtained free of charge from the sources indicated above.
This news release includes “forward-looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as “estimate,” “plan,” “project,” “forecast,” “intend,” “expect,” “anticipate,” “believe,” “seek,” “target” or similar expressions other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. Such forward-looking statements with respect to the benefits of the proposed transaction, the future financial performance of HCAC following the proposed transaction, changes in the market for USI’s services, and expansion plans and opportunities, including future acquisition or additional business combinations are based on current information and expectations, forecasts and assumptions, and involve a number of judgments, risks and uncertainties. Accordingly, forward-looking statements should not be relied upon as representing HCAC’s views as of any subsequent date, and HCAC does not undertake any obligation to update forward-looking statements to reflect events or circumstances after the date they were made, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws. You should not place undue reliance on these forward-looking statements. As a result of a number of known and unknown risks and uncertainties, actual results or performance may be materially different from those expressed or implied by these forward-looking statements. Some factors that could cause actual results to differ include, but are not limited to: (1) the occurrence of any event, change or other circumstances that could give rise to the termination of the Merger Agreement; (2) the outcome of any legal proceedings that may be instituted against USI or HCAC following announcement of the proposed transaction and related transactions; (3) the inability to complete the transactions contemplated by the Merger Agreement due to the failure to obtain approval of the stockholders of HCAC, consummate the anticipated debt financing or satisfy other conditions to the closing of the proposed transaction; (4) the ability to obtain or maintain the listing of HCAC’s common stock on the NASDAQ Capital Market following the proposed transaction; (5) the risk that the proposed transaction disrupts the parties’ current plans and operations as a result of the announcement and consummation of the transactions described herein; (6) the ability to recognize the anticipated benefits of the proposed transaction, which may be affected by, among other things, competition and the ability of the combined business to grow and manage growth profitably; (7) costs related to the proposed transaction; (8) changes in applicable laws or regulations; (9) the possibility that USI or HCAC may be adversely affected by other economic, business, and/or competitive factors; and (10) other risks and uncertainties indicated from time to time in the proxy statement to be filed by HCAC in connection with the proposed transaction, including those under “Risk Factors” therein, and other factors identified in HCAC’s prior and future filings with the SEC, available at www.sec.gov.
Solebury Communications Group
+1 (203) 428-3223
+1 (203) 428-3230
Sources: Hennessy Capital Acquisition Corp. II and USI
HOUSTON, TX and ST. PAUL, MN
February 23, 2016
XMS Capital Partners serves on Healthcare IT panel
XMS Capital Executive Director, Brian Brownschidle, spoke on a panel titled "Hot Trends in Health IT Investing" at the 13th Annual Healthcare and Life Sciences Private Equity & Finance Conference, hosted by McGuireWoods and RSM, in Chicago.
An article was later written on the panel discussion in Becker’s Hospital Review:
September 14, 2015
XMS Capital Partners advises Physio-Control on the acquisition of HeartSine Technologies
September 14, 2015 | Physio-Control, Inc. (a portfolio company of Bain Capital) has reached an agreement with HeartSine Technologies to acquire the Northern Ireland-based automated external defibrillator (“AED”) manufacturer. Financial details of the transaction are not being released. The combination creates one of the world's largest AED solutions providers.
“With Physio-Control and HeartSine now united in our lifesaving missions, we will be able to offer a tremendous range of AED solutions to our global customers and partners,” said Physio-Control CEO Brian Webster. “Sudden cardiac arrest is one of the biggest health care problems in the world and AEDs are a critical part of the solution. The global market for these devices is growing fast and our joint aim is to save more lives with more AEDs in more places.”
“This is very good for HeartSine and our distributors. Our teams share a strong clinical focus, and together we have exciting opportunities ahead for technical, scientific and marketing collaboration,” said HeartSine CEO Declan O’Mahoney. “Most importantly, we have a strong cultural fit and a common mission to prevent unnecessary deaths from sudden cardiac arrest.”
HeartSine’s products include AED’s and associated software systems. Physio-Control is the world’s leading provider of professional emergency medical response solutions that predict or intervene in life-threatening emergencies.
XMS Capital Partners acted as exclusive financial advisor to Physio-Control for this transaction.
July 30, 2015
XMS Capital Partners advises Norinco Group in announced acquisition of the Reception Systems Business of Delphi Automotive PLC
July 30, 2015 | Norinco Group acquires the reception systems business of Delphi Automotive PLC (NYSE: DELPH).
XMS Capital Partners served as financial advisor to Norinco Group, a leading Chinese automotive supplier, in connection with the acquisition. Delphi's reception systems business consists of automotive antennas and in-vehicle TV tuners. The sale is expected to close in the third quarter of 2015, subject to regulatory approval.
July 21, 2015
XMS Capital Partners advises Exact Sciences on Equity Offering
July 21, 2015 | Exact Sciences announced the pricing of an underwritten public offering of 7,000,000 shares of its common stock at a price of $25.50 per share to the public for gross proceeds of $178.5 million.
XMS Capital Partners served as financial advisor to Exact Sciences in connection with the offering. XMS has advised Exact Sciences on each of its equity offerings since 2009 as the company has funded the development and commercialization of Cologuard, the first and only FDA approved stool DNA noninvasive colorectal cancer screening test.
June 29, 2015
XMS Capital Partners advises Clarcor on sale of packaging subsidiary J.L. Clark
Franklin, TN, June 29, 2015 -- CLARCOR Inc. (NYSE: CLC) announced that it has sold its packaging subsidiary, J.L. Clark, Inc. to CC Industries, Inc. (“CCI”), an affiliate of Chicago-based Henry Crown and Company. With approximately 350 employees and annual revenues of approximately $77 million, J.L. Clark designs and manufactures specialty metal and plastic packaging for a wide variety of consumer products customers.
Headquartered in Rockford, IL, the 111 year-old J.L. Clark also has significant manufacturing facilities Lancaster, PA and was the original business of CLARCOR. Prior to its divestiture, J.L. Clark was the sole operating company in CLARCOR’s packaging segment, and the sale thus represents CLARCOR’s exit from packaging to focus solely on filtration.
Christopher L. Conway, CLARCOR’s Chairman, President and Chief Executive Officer commented, “Today is a bittersweet but exciting day for both CLARCOR and J.L. Clark. Over the last 40 years CLARCOR has transformed itself into one of the world’s leading diversified filtration companies. As we looked to the future and our strategic priorities, we reluctantly determined that the time is right for us to exit the packaging industry, a decision that benefits not only CLARCOR, but J.L. Clark as well. The simple truth is that, as a filtration company, we have not been able to give J.L. Clark the strategic focus and energy that the company and its dedicated employees deserve.
Given the strong legacy of J.L. Clark and its importance in the history of CLARCOR, we did not take this decision lightly and we were extremely particular in selecting a buyer to whom that legacy could be entrusted. I believe our efforts in this regard have paid off, and I could not be happier that J.L. Clark will find a home with CCI, an iconic owner whose vision and culture are a perfect fit with J.L. Clark. Their desire to own and grow J.L. Clark was evident from the outset of our discussions, and we have every confidence that Henry Crown and Company will invigorate J.L. Clark in the way that its employees in Rockford and Lancaster deserve.”
XMS Capital Partners served as exclusive financial advisor and Bass Berry & Sims PLC served as exclusive outside legal advisor to CLARCOR in connection with the transaction.
CLARCOR is based in Franklin, Tennessee, and is a diversified marketer and manufacturer of mobile, industrial and environmental filtration products sold in domestic and international markets. Common shares of the Company are traded on the New York Stock Exchange under the symbol CLC.
CC Industries, Inc., headquartered in Chicago, operates under the umbrella of Henry Crown and Company and is the holding and management company for the Crown family’s privately held operating companies, including Great Dane Trailers; Provisur Technologies; Trail King Industries; Little Lady Foods and Gillig LLC.
May 14, 2015
XMS Capital Partners advises Healthcare Business Insights (HBI) on sale to Decision Resources Group (DRG)
Decision Resources Group (DRG), a subsidiary of Piramal Enterprises Ltd., announced today that it has acquired Healthcare Business Insights (HBI), a trusted provider of best practice research, training and services to more than 1,400 hospitals across the U.S. HBI's member-centric Academies enable hospitals and health systems to share best practices and understand how best to address today's most critical issues, with a focus on providing actionable solutions leading to significantly enhanced performance. HBI delivers its Revenue Cycle, Supply Chain, Cost & Quality and Healthcare IT research content, as well as analytics solutions across multiple media including a unique online software platform.
Jim Lang, CEO of DRG, said, "We are delighted that HBI, a clear leader in the hospital insights market, will become a part of the DRG family, marking our entry into the provider space. The dynamic combination of HBI's provider-focused services with DRG's world-class data and life sciences research will help America's hospitals and health systems successfully navigate the complicated post-Affordable Care Act healthcare landscape. Healthcare is converging in the acceleration toward value-based care. Every innovative move, whether a new treatment, device, technology or process, will require collaboration among industry constituents to manage cost and deliver quality outcomes. Together, we will help our clients enhance their ability to deliver value."
"The key players in the healthcare industry—from payers to providers and those in between—are rallying around the pursuit of clinical and financial performance," said Mark Luck Olson, President of DRG Global Consulting Services. "HBI's proprietary data, analytics capabilities and deep domain expertise uniquely position us to help healthcare leaders improve performance today and navigate to a brighter future."
Mike Doyle, CEO of HBI, added, "HBI is a 'customer-first' organization, and we are extremely proud of what we have built over the last decade, deliberately executing on our business model with a servant's heart. Attaining our continued growth—with over 1,400 hospital members—while achieving industry-leading renewal rates year-over-year is not an easy task, and we look forward to maintaining those great relationships going forward. Our team is very excited about joining DRG, as they share the same service-minded philosophy and vision for helping the healthcare industry. We believe our combined resources only serve to bring more value to our members."
XMS Capital Partners acted as the exclusive financial advisor to HBI for this transaction.
May 07, 2015
XMS Capital Partners advises BBB Industries in announced acquisition of ATSCO Remanufacturing Inc.
Mobile, AL – BBB Industries LLC, May 7, 2015: BBB Industries LLC, (“BBB”), an industry leader in the remanufacturing of alternators, starters, power steering units and brake calipers is pleased to announce that it has agreed to acquire ATSCO Remanufacturing Inc. (“ATSCO” or the “Company”). The completion of the transaction is subject to the customary conditions, and is expected to be completed in the second quarter of 2015.
Founded in 1983 and headquartered in Phoenix, Arizona, ATSCO is a leading remanufacturer of automotive power steering products for the North American aftermarket. The Company has a longstanding reputation for product leadership and customer service excellence in the power steering product segment.
Commenting on the transaction, Don Bigler, Chief Executive Officer of BBB, said: “We are pleased to welcome ATSCO to the BBB family of companies and look forward to continued growth in the power steering product segment with the addition of their products and skills to our power steering business segment.”
BBB is an industry leader in the remanufacturing of alternators, starters to the automotive, medium and heavy-duty truck, industrial, agriculture, small engine and other markets. The Company’s undercar division remanufactures power steering products for the automotive original equipment manufacturers and aftermarkets. In addition, the Company remanufactures brake calipers for automotive, light duty and medium duty applications. Headquartered in mobile, Alabama, BBB Industries LLC is committed to producing products with the right fit, at the right price and at the right time. BBB Industries LLC supplies superior-quality products through a network of more than 1,000 dealer locations.
XMS Capital Partners acted as financial advisor to BBB Industries for this transaction. XMS previously advised Pamplona Capital Management on the acquisition of BBB Industries in September 2014.
February 23, 2015
XMS Capital Partners advises LiveWatch on sale to Monitronics International
Monitronics International, Inc. , a wholly-owned subsidiary of Ascent Capital Group, Inc. (NASDAQ: ASCMA), acquired LiveWatch Security, LLC, a Do-It-Yourself (“DIY”) home security provider offering interactive and home automation services for approximately $67 million, which includes $6 million of retention bonuses to be paid on the second anniversary of the closing. LiveWatch will operate as a standalone subsidiary of Monitronics.
With over $900,000 of recurring monthly revenue, LiveWatch provides professionally monitored security system services to over 32,000 customers across all fifty states and Puerto Rico.
About the acquisition, Monitronics Chief Executive Officer, Michael Haislip, commented, “We are excited to have acquired LiveWatch, an established player in the rapidly expanding DIY space, a compelling channel that we have long been interested in entering. LiveWatch provides Monitronics with innovative and diversified account generation potential that, over time, can be expanded into adjacent product and service offerings beyond traditional home security monitoring.”
Brad Morehead, CEO of LiveWatch, added, “The home security industry is experiencing a rapid technological evolution and we believe that we are at the forefront of that change. Partnering with Monitronics, a well-respected industry leader, will enable LiveWatch to accelerate its innovation, leverage scale opportunities, and enhance the overall customer experience.”
XMS Capital Partners LLC acted as the exclusive financial advisor to LiveWatch for this transaction. Perkins Coie LLP served as legal advisor to LiveWatch. Baker Botts LLP served as legal advisor to Monitronics.
December 15, 2014
XMS Capital Partners advises Exact Sciences on Equity Offering
December 15, 2014 | Exact Sciences announced the pricing of an underwritten public offering of 4,000,000 shares of its common stock at a price of $25.75 per share to the public for gross proceeds of $102 million.
XMS Capital Partners served as financial advisor to Exact Sciences in connection with the offering. XMS has advised Exact Sciences on each of its equity offerings since 2009 as the company has funded the development and commercialization of Cologuard, the first and only FDA approved stool DNA noninvasive colorectal cancer screening test.
November 19, 2014
XMS Capital Partners advises Novaerus on their recently completed $10m funding round
Dublin, Ireland: On Nov 19, 2014, Novaerus Group (www.novaerus.com), the provider of a global leading plasma based technology for airborne infection control, announced the successful completion of a $10m capital raise.
Novaerus, a company that improves the business and quality of healthcare through the application of plasma-based, airborne pathogen control technology, announced the successful completion of funding from two industry-leading healthcare investors – Polaris Partners and Fidelity Biosciences.
The $10 million raise represents a key milestone in the company’s history and future growth. Novaerus received a previous investment from Oyster Capital Partners, an Ireland-based, global company which invests in information technology, healthcare and energy technology. Oyster will continue to remain the majority shareholder in Novaerus following this financing.
The technology improves the business and quality of health care, ensuring facilities maintain and improve census, a top financial and clinical priority – has a 5x ROI for facilities that have started to use the product.
Novaerus was first introduced into the US Long Term Care (LTC) Marketplace with a focus on Skilled Nursing Facilities in Q42012 and has grown rapidly since introduction (e.g. captured a 15% market share of the Florida SNF market within one year).
Proceeds from this latest round of financing will allow Novaerus to continue to focus on its core business as well as to further its excellence in other areas: development and innovation of its product offerings, expansion of sales and marketing initiatives, and the opportunity to drive incremental growth and market share.
XMS Capital Partners served as exclusive financial advisor to Novaerus.
October 29, 2014
XMS Capital Partners advises Clariant on the sale of Energy Storage business
Muttenz, October 29, 2014 – Clariant, a world leader in specialty chemicals, has agreed to divest its Business Line Energy Storage to Johnson Matthey Plc. The total consideration of the sale amounts to USD 75 million at closing which is expected early 2015.
The Energy Storage business of Clariant is the largest hydrothermal Lithium Iron Phosphate (LFP) producer in the world. The lithium ion cathode material is used in electric vehicles and stationary battery applications. In 2013, the Energy Storage business generated around CHF 16 million in sales. The business employs around 100 employees predominantly in Canada and Germany.
“The divestment of the Energy Storage business with its LFP technology is part of our focused portfolio management and reallocating capital towards our core areas Care Chemicals, Catalysis and Energy, Natural Resources, and Plastics and Coatings,” said Hariolf Kottmann, CEO of Clariant.
Robert MacLeod, Chief Executive of Johnson Matthey said, “This acquisition provides us with a strong position in LFP from which to develop a broad portfolio of battery materials. It further strengthens our battery technologies capability which marks an important step in Johnson Matthey’s long term strategy to establish new business areas.”
XMS Capital Partners, LLC served as exclusive financial advisor to Clariant for this transaction.
October 09, 2014
XMS Capital Partners advises in sale of Sage Automotive
SANTA MONICA, Calif. & GREENVILLE, S.C.-(BUSINESS WIRE)-Clearlake Capital Group (Clearlake) and Sage Automotive Interiors (Sage) announced today that Clearlake has acquired Sage, the second largest automotive textile supplier in the world. Sage management invested alongside Clearlake in the transaction. Financial terms of the transaction were not disclosed.
“This acquisition underscores Sage’s success and vision, and provides a stable platform to help drive our future growth, both domestically and globally,” said Dirk Pieper, Sage CEO. “Clearlake is an experienced investor in the automotive space, bringing valuable industry expertise and strong financial resources. We appreciate this vote of confidence in all that Sage has accomplished and in our future, and we look forward to working with the Clearlake team as we execute on our strategy.”
Sage will remain an independent entity, headquartered in Greenville, SC on the CUICAR campus. There are no plant location or personnel changes planned at this time. Recently, Sage has experienced rapid growth, almost doubling its employee count in the past five years, investing $25 million in its South Carolina operations over the past four years, and recently adding plants in China and Poland to enhance its worldwide footprint.
“With high quality products and its commitment to innovative design, Sage has built an impressive client list and experienced strong growth,” said José E. Feliciano, a founding partner at Clearlake. “We look forward to working with Sage’s talented management team and dedicated employees as we build on Sage’s plan and vision, with a continued focus on supplying the best products while also focusing on sustainability.”
Kirkland & Ellis LLP served as legal counsel to Clearlake in the transaction. Nomura Securities International and XMS Capital Partners advised Sage on the transaction. Weil, Gotshal & Manges provided legal advice to Sage.
September 22, 2014
XMS Capital Partners advises Hennessy Capital in announced acquisition of Blue Bird
September 22, 2014 - Hennessy Capital Acquisition Corp. (NASDAQ: HCAC, HCACU, HCACW) (“HCAC”) today announced it has entered into a definitive purchase agreement to acquire all of the outstanding capital stock of School Bus Holdings Inc., an indirect parent company of Blue Bird Corporation (“Blue Bird” or the “Company”), from The Traxis Group B.V. (“Traxis”), which is majority owned by funds affiliated with Cerberus Capital Management, L.P. (“Cerberus”).
Blue Bird is the leading independent designer and manufacturer of school buses, with more than 550,000 buses sold since its formation in 1927 and nearly 200,000 buses in operation today. In addition,
Blue Bird is the fastest‐growing major school bus manufacturer in North America, with market share increasing in each of the past four years, and is the market leader in alternative‐fuel applications with its propane‐powered and compressed natural gas‐powered school buses.
“HCAC is extremely pleased to partner with Blue Bird’s management and Cerberus to introduce Blue Bird to the public markets,” said Daniel J. Hennessy, Chairman and CEO of HCAC. “We are acquiring an iconic American brand with an 87‐year history of innovation and product leadership led by a superb management team at a very attractive price. We believe Blue Bird fits squarely into our stated investment criteria, and that as a public company, Blue Bird will have the capital structure, ownership support, operating flexibility and enhanced public image to achieve its maximum potential.”
Chan Galbato, CEO of Cerberus Operations and Advisory Company, LLC, and non‐executive Chairman of Blue Bird, stated, “Blue Bird is a terrific, well‐run company with great people and products and we are thrilled to continue our longstanding relationship with them, as Cerberus will retain a significant ownership interest in the company. We look forward to sharing in the significant value‐creation opportunity that Blue Bird offers, in partnership with HCAC, Blue Bird’s management and our new stockholders.”
The Company will continue to be led by current Blue Bird President and CEO Phil Horlock, who added, “We are very excited for Blue Bird to become a public company by partnering with HCAC and delighted that Cerberus will remain a major stockholder. Under Cerberus’ stewardship, our Blue Bird team has transformed the business through launching exciting new products and features, improving quality and cost structure, and growing sales and market share. We believe this transaction will enable us to maintain our growth momentum with our exceptional workforce building the world’s finest school bus.”
Under the terms of the purchase agreement, the aggregate equity purchase price payable at the closing of the proposed transaction will be $255 million comprised of cash and shares of HCAC common stock. In addition, HCAC will assume approximately $235 million of Blue Bird’s existing indebtedness. The purchase price consists of (i) an estimated $140 million in cash (assuming no HCAC stockholder redemptions) and (ii) the issuance of 11.5 million shares of HCAC common stock (subject to increase if the cash paid to Traxis is lower than $140 million). The cash component is expected to be funded by the cash in HCAC’s trust account established in connection with its initial public offering (the “IPO”) and the issuance of $40 million of convertible preferred stock to certain investors in a private placement. Additionally, HCAC has received a commitment from an investor to purchase up to $10 million of HCAC common stock through (i) open market or privately negotiated transactions with third parties, (ii) a private placement with consummation to occur concurrently with the closing of the transaction, or (iii) a combination thereof, in order to ensure sufficient funds to finance the cash component of the purchase price.
The purchase agreement contemplates that the new board of directors of the combined company will consist of six members of Blue Bird’s existing board of directors (including Chan Galbato, who will serve as Chairman of the Board, Phil Horlock, who will continue to serve as CEO, and Dev Kapadia, a Cerberus Managing Director), two current members of HCAC’s board of directors (Daniel J. Hennessy, who will serve as Vice Chairman of the Board, and Kevin Charlton) and one newly designated individual.
At the closing of the proposed transaction, 12,125,000 of the 23,625,000 currently outstanding HCAC warrants will be exchanged for a total of 1,212,500 shares of HCAC common stock, through a combination of (i) a negotiated exchange with HCAC’s sponsor and (ii) an exchange offer by HCAC to exchange up to 50% of the outstanding HCAC warrants issued to public stockholders in the IPO for shares of HCAC common stock. The terms of the sponsor warrant exchange and public warrant exchange offer will be described in HCAC’s proxy statement relating to the proposed transaction, which HCAC will file with the U.S. Securities and Exchange Commission (the “SEC”). HCAC’s exchange offer for its public warrants will be made pursuant to a tender offer statement on Schedule TO (including an offer to exchange and related materials) that HCAC intends to file with the SEC.
The transaction is subject to the satisfaction of customary closing conditions, including regulatory and stockholder approvals, and is expected to close promptly following HCAC’s special stockholders’ meeting to approve the transaction. Upon consummation of the transaction, it is anticipated that Traxis will be the combined company’s principal stockholder, owning approximately 42.4% of HCAC’s outstanding common stock, and HCAC’s existing stockholders will retain an ownership interest of approximately 57.6% (assuming no HCAC stockholder redemptions). It is expected that the combined company’s securities will continue to be listed on NASDAQ.
The description of the transaction contained herein is only a summary and is qualified in its entirety by reference to the definitive agreement relating to the transaction, a copy of which will be filed by HCAC with the SEC as an exhibit to a Current Report on Form 8‐K.
HCAC was advised on the transaction by BMO Capital Markets Corp., Stifel, Nicolaus & Company Incorporated and XMS Capital Partners, LLC as financial advisors with Sidley Austin LLP and Ellenoff Grossman & Schole LLP as legal counsel. Cerberus, Traxis and Blue Bird were advised by Evercore as financial advisor with Schulte Roth & Zabel LLP and Lowenstein Sandler LLP as legal counsel.
September 10, 2014
XMS advises Pamplona on announced acquisition of BBB Industries
Founded in 1987 and headquartered in Mobile, Ala., BBB is a leading remanufacturer of automotive products for the North American aftermarket. The company’s distribution platform allows it to serve warehouse distributors and retailers with a portfolio of 20,000 SKUs.
Joe Felicelli, Chief Executive of BBB, said “We are delighted to be partnering with Pamplona. We have worked hard over a number of years to position ourselves as an industry leader with a broad product offering and a reputation for being the solution provider for our customers. Under Pamplona’s ownership we will continue to provide our customers with high-quality products and an excellent distribution service but most importantly, we will continue our commitment of supporting the growth of our customers.”
Martin Schwab, the partner at Pamplona leading the transaction, said “BBB is an excellent business and we are delighted to be partnering with an exceptional management team who has grown the company significantly over the last few years. Pamplona will work with management to accelerate the company’s growth ambitions by providing long-term financial and strategic support. We believe there are significant opportunities to grow both organically and through acquisition and are excited to be part of the business going forward.”
The acquisition will be made from Pamplona’s fourth private equity fund, Pamplona Capital Partners IV LP, a $4 billion investment vehicle, raised earlier this year.
XMS Capital Partners, LLC and Houlihan Lokey acted as financial advisors to Pamplona Capital Management for this transaction.
September 05, 2014
XMS Capital Partners advises Aon on the sale of eSolutions business
Aon PLC (NYSE: AON) completed the sale of its eSolutions business (formerly part of Aon Risk Solutions) to Symphony Technology Group, a private equity firm headquartered in Palo Alto, CA. Terms of the agreement were not disclosed.
eSolutions is a global leader in risk, claims and safety software, services and solutions. The acquired company will be renamed Ventiv Technology and will be an independent portfolio company of Symphony Technology Group.
Ventiv Technology enables mission-critical business processes through a personalized and configurable software platform which drives measurable value for organizations seeking to better manage their risk management and claims administration functions. Its unsurpassed industry experience enables the company to deliver turnkey product configurations across a diverse set of industries – a particularly strong market position has been established with retailers, manufacturers, consumer products, telecoms and financial institutions.
“We believe market for Ventiv’s products is large and growing due to the increasing importance of managing and analyzing global risk exposure across large and medium-sized enterprises. The combination of Ventiv’s excellent team and our expertise and experience in the software sector results in an ideal partnership to pursue this market opportunity.” (Symphony Technology Ventures)
XMS Capital Partners, LLC acted as the exclusive financial advisor to Aon PLC for this transaction.
August 27, 2014
XMS Capital Partners advises Everett Smith Group on the sale of Eagle Ottawa to Lear
Lear Corporation announced that it has signed a definitive agreement to acquire Eagle Ottawa for $850MM on a cash free, debt free basis. Lear is one of the world's leading suppliers of automotive seating and electrical distribution systems, headquartered in Southfield, Michigan.
Eagle Ottawa is the world's largest supplier of automotive leather with a rich 150-year history and stable private ownership for nearly 50 years. The company has an experienced management team, modern facilities, a low-cost footprint, diversified customers and a reputation for superior quality, product innovation and craftsmanship. Eagle Ottawa will complement Lear's leading position in luxury and performance automotive seating. The transaction is valued at $850 million on a cash and debt free basis.
"The acquisition of Eagle Ottawa is another important step in strengthening our core seating business, expanding our component capabilities and accelerating profitable sales growth," said Matt Simoncini, Lear's President and CEO. "This transaction will further enhance Lear's position as a global leader in automotive seating and will create significant value for our shareholders. Eagle Ottawa adds global leather design and development resources as well as technical expertise to our existing surface materials capabilities. Eagle Ottawa will also enhance the level of craftsmanship and design options that we are able to provide to our customers and increase opportunities for sales growth and diversification."
Eagle Ottawa is the largest global supplier of automotive leather, with annual sales of approximately $1 billion. Eagle Ottawa has a balanced geographic customer mix, with an industry leading position in North America and Asia and also a top supplier position in Europe. Eagle Ottawa has strong relationships with virtually all of the major global automakers, including BMW, Daimler, Fiat Chrysler, Ford, General Motors, Honda, Hyundai, Jaguar Land Rover, Mazda, Renault/Nissan and Toyota.
XMS Capital Partners, LLC acted as financial advisor to Everett Smith Group (a private family office and owner of Eagle Ottawa) along with J.P. Morgan for this transaction.
XMS Capital Partners advises Pamplona Capital Management on the acquisition of BBB Industries
May 01, 2014
XMS Capital Partners advises CLARCOR on the acquisition of Stanadyne’s Filtration Business
May 1, 2014 | CLARCOR (NYSE:CLC) announced today that it completed the acquisition of Stanadyne’s Filtration Business for approximately $325 million.
Christopher L. Conway, CLARCOR’s Chairman, President and CEO commented, “We are extremely enthusiastic about this acquisition and its strategic implications for CLARCOR. For more than 50 years, Stanadyne has been a leader in the design, manufacture and supply of original equipment diesel fuel filtration products to many of the biggest names in the industry. By combining this business with the OE capabilities of the other companies in our Engine/Mobile segment, Baldwin Filters and Clark Filter, we believe we will have the scale and focus to better serve OE customers and grow this side of our business in a meaningful fashion. In light of the anticipated enhancement of our OE capabilities, I am pleased to announce the creation of a separate business division within our Engine/Mobile Segment, CLARCOR Engine Mobile Solutions, to specifically serve the filtration needs of OE manufacturers around the globe.”
XMS Capital Partners, LLC acted as the exclusive financial advisor to CLARCOR for this transaction. XMS also advised CLARCOR on its acquisition of the Air Filtration business of General Electric Company's Power and Water division for approximately $265 million in 2013.
April 09, 2014
XMS Capital Partners Presented at IN3Medical Device 360 Conference in Ireland
April 9, 2014 | Conor Barry, an Executive Director with XMS Capital Partners, presented at the IN3 Medical Device 360 Conference in Dublin, Ireland. Conor joined panelists in discussing Trends that will Shape Medtech Deals in 2014.
Top multinational Medical Device companies such as Covidien, Edwards Lifesciences and Medtronic as well as many innovative growth companies such as Aerogen, Vasorum and Novate Medical attended the conference.
April 04, 2014
XMS Capital Partners advises Exact Sciences on Equity Offering
April 4, 2014 | Exact Sciences announced the pricing of an underwritten public offering of 10,000,000 shares of its common stock at a price of $12.75 per share to the public for gross proceeds of $127.5 million.
XMS Capital Partners served as financial advisor to Exact Sciences in connection with the offering. XMS has advised Exact Sciences on a number of other equity offerings throughout the development of its innovative colorectal cancer screening test.
April 04, 2014
XMS Capital Partners advises Blackstone on the acquisition of Gates Global
April 4, 2014 | Private equity funds managed by Blackstone (NYSE:BX) announced entry into a definitive purchase agreement with affiliates of Onex Corporation and Canada Pension Plan Investment Board to acquire all of the equity interests in Pinafore Holdings B.V., the parent company of Gates Corporation (“Gates”). The transaction is expected to close later this year and is subject to customary closing conditions and regulatory approvals.
The aggregate consideration payable in the transaction will be approximately $5.4 billion (subject to certain customary adjustments). Gates is a leading global manufacturer of power transmission belts and fluid power products that are highly engineered and critical components, used in diverse industrial and automotive applications. Gates derives a majority of its sales from replacement markets around the world.
XMS Capital Partners, LLC acted as financial advisor to Blackstone for this transaction.
April 01, 2014
XMS Capital Partners advises Bemis on the sale of Paper Packaging Division
April 1, 2014 | Bemis Company, Inc. (NYSE:BMS) announced today that it completed the sale of its Paper Packaging Division to Hood Packaging Corporation, a privately-held company headquartered in Madison, Mississippi and Burlington, Ontario. Terms of the agreement were not disclosed.
Bemis' Paper Packaging Division recorded sales of approximately $160 million in 2013. The sale of the Paper Packaging Division includes the offices and manufacturing facilities located in Omaha, Nebraska; Crossett, Arkansas; Vancouver, Washington; and Minneapolis, Minnesota.
Hood Packaging supplies paper flexible packaging and bags, consumer plastic packaging, and industrial plastic packaging from its facilities located across the United States and Canada.
Commenting on the transaction, Henry Theisen, Bemis Company's Chairman and Chief Executive Officer said, "Today's announcement represents an opportunity for our Paper Packaging business to be part of Hood Packaging's growing paper packaging products business. The sale of this division will allow Bemis to focus our resources on strategic opportunities in high barrier flexible packaging, medical and pharmaceutical packaging, and developing geographic markets."
XMS Capital Partners, LLC acted as the exclusive financial advisor to Bemis Company for this transaction. XMS also served as the exclusive financial advisor to Bemis on the sale of its Clysar Division in 2013.
January 31, 2014
XMS Capital Partners advises Imation on the sale of XtremeMac
January 31, 2014 | Imation (NYSE:IMN) announced today that it completed the sale of its XtremeMac consumer electronics business, as part of the effort to divest lower margin, non-core businesses. Terms of the agreement were not disclosed. XtremeMac designs and manufactures cases, chargers and audio solutions for Apple devices.
XMS Capital Partners, LLC acted as the exclusive financial advisor to Imation for this transaction. This is the fourth transaction on which XMS has served as financial advisor to Imation.
January 06, 2014
XMS Capital Partners advises Littelfuse on the acquisition of SymCom
January 6, 2014 | Littelfuse (NYSE:LFUS) announced today that it completed the acquisition of SymCom, Inc. Terms of the agreement were not disclosed.
SymCom is a leader in electronic control and protection design and manufacturing with an array of current and voltage monitors, motor and pump controls, and custom electronic controls.
XMS Capital Partners, LLC acted as the exclusive financial advisor to Littelfuse for this transaction. XMS also advised Littelfuse on its acquisition of Hamlin for $145 million in 2013.
Per FINRA regulations, XMS Capital Partners has developed a Business Continuity Plan to show how we will respond to events that significantly disrupt our business.
Since the timing and impact of disasters and disruptions are unpredictable, we will have to be flexible in responding to actual events as they occur. With that in mind, we are providing you with this information on our business continuity plan.
Our Business Continuity Plan
Our business continuity plan addresses the following: data back-up and recovery; all mission critical systems; financial and operational assessments; alternative communications with customers, employees, and regulators; alternate physical location of employees; critical supplier, contractor, and bank impact; and regulatory reporting.
If after a significant business disruption you cannot contact us as you usually do at (312) 262-5642, you should go to our website at www.xmscapital.com.
Significant business disruptions can vary in their scope, such as only our firm, a single building housing our firm, the business district where our firm is located, the city where we are located, or the whole region. Within each of these areas, the severity of the disruption can also vary from minimal to severe. In a disruption to only our firm or a building housing our firm, we will transfer our operations to a local site when needed and expect to recover and resume business within one business day. In a disruption affecting our business district, city, or region, we will transfer our operations to a site outside of the affected area, and recover and resume business within five business days. In either situation, we plan to continue in business, and notify you through our website (www.xmscapital.com) where we will provide you with information about how to contact us. If you have questions about our business continuity planning, you can contact us at (312) 262-5642.