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Selected Transactions

Dallas-based Artemis Fine Arts Services (Artemis), a full-service logistics provider dedicated to the preservation and protection of fine art objects, museum artifacts and antiquities, has been acquired by Cadogan Tate, one of the largest international fine arts logistics providers. MidCap Advisors, LLC (MidCap) served as the exclusive financial advisor to Artemis in its acquisition by Cadogan Tate. Artemis is renowned for fine art stewardship. It serves more than 1,000 top-tier clients across the country and continues to grow as an industry leader. Artemis provides a range of services including packing, crating, transportation, installation, and storage for museums, galleries, collectors, and other members of the fine art community. Artemis utilizes custom-built trucks and skilled art handlers trained by museum professionals in their National Fine Art Shuttle Fleet to provide secure delivery to any destination in the Continental U.S. Founded in 1977, Cadogan Tate is one of the largest international fine arts logistics providers. Headquartered in London with locations in Paris, Cote D’Azur, Miami, New York City, San Franscisco Los Angeles and Chicago, Cadogan Tate is internationally recognized as a market leader. The firm is trusted by discerning institutions and private collectors. The Artemis acquisition enables Cadogan Tate to expand its delivery routes, warehousing space, fleet and team across the U.S. while benefiting from Artemis’s expertise in comprehensive transportation, crating, packing, and installation services. | Artemis Fine Arts Services, Cadogan Tate, 14 Jul 2023, Dallas - TX, Manufacturing & Business Services
MidCap Advisors is pleased to announce that our client, Columbia Container Services (“CCS”), has closed their merger agreement with Container Maintenance Corporation (“CMC”) and ITI Intermodal (“ITI”). Strategically located within the Port of New York and New Jersey and in the Port of Boston, CCS provides chassis and container maintenance & repair (M&R), inspection, and storage services at its off-terminal equipment depots. Through this deal, the companies will collectively provide a full range of dry and reefer equipment M&R, storage, drayage, and over-the-road services for intermodal freight in the Midwest, Gulf, Southeast and Northeast. All the founders, each of whom will own significant equity in the new company, are going forward with the business. The new company will be under the leadership of Vincent Marino, Joshua Cooley, and Bruce Fenimore. | Columbia Container Services, Private Investor, 10 May 2023, New Jersey, Manufacturing & Business Services
MidCap Advisors is pleased to announce that Threshold Visitor Management Systems (“Threshold” or the “Company”) was acquired by Avery Products Corporation, a business unit of CCL Industries Inc. CCL is a world leader in specialty label, security and packaging solutions for global corporations, government institutions, small businesses and consumers. MidCap served as the exclusive financial advisor to Threshold. The Company, a privately owned supplier of visitor sign-in, tracking and identification badges using proprietary software, is based in Farmington, Connecticut. | Threshold Visitor Management Systems, Avery Products Corporation, 1 May 2023, Connecticut, Manufacturing & Business Services
Delaware Freeport, LLC (“Delaware Freeport”) has acquired The Icon Group, Inc. (“Icon”). Founded in 1980, Icon is a high-level logistics company focused on the unique requirements of storing, transporting, and installing fine arts and artifacts. Icon tailors customized solutions for managing pieces as small as an oil painting, to the installation of large scale works of art. Based in Chicago, IL, Icon operates in a 92,000 square-foot, concrete masonry storage facility and service center which was also part of the transaction. | The Icon Group, Delaware Freeport, 8 Dec 2022, Chicago - IL, Manufacturing & Business Services
MidCap Advisors is pleased to announce that School Photo Marketing (“SPM” or the “Company”) was acquired by Ennis Inc. (“Ennis”) (NYSE: EBF). The transaction became effective November 30, 2022 and MidCap Advisors was the exclusive financial advisor to SPM. Based in Morganville, NJ, SPM is a leading national provider of customized marketing and fulfillment materials, specialty personal mementos, yearbooks, and support services to the $3B school photography industry. The Company will continue to be led post-acquisition by its 2nd generation owner, Robert Klepner. The acquirer, Ennis, has been a manufacturer and supplier of print products since 1909. They completed their IPO on the New York Stock Exchange in 1969 and continue to provide advertising, business forms and supplies, commercial printing, eCommerce solutions, envelopes, labels, and packaging services to the U.S. market. | School Photo Marketing Inc., Ennis Inc. (NYSE: EBF), 30 Nov 2022, New Jersey, Manufacturing & Business Services
Contract Filling Inc. (“CFI”) was acquired by Arizona Natural Resources (“ANR”), a portfolio company of CORE Industrial Partners (“CORE”) in August 2022. CFI is a premier contract manufacturer of alcohol-based personal care products with extensive compounding, filling, and packaging capabilities. | Contract Filling Inc., CORE Industrial Partners, 18 Aug 2022, New Jersey, Consumer Products & Manufacturing
MidCap Advisors is pleased to announce that Ned Stevens Gutter Cleaning of Long Island (“NSLI”) has been acquired by Ned Stevens Gutter Cleaning and General Contracting of New York LLC (“NSGC”), via its financial sponsor AVALT. MidCap Advisors was the exclusive financial advisor to NSLI. | Ned Stevens Gutter Cleaning of Long Island, Ned Stevens Gutter Cleaning and General Contracting of New York LLC, 8 Jul 2022, New York, Field Services
StandardAero has acquired Miramar, Florida-based PTS Aviation (“PTS”). The transaction became effective December 31, 2021. PTS Aviation is a worldwide supplier of serviceable aircraft engines, engine components, and engine inventory. Founded in 1995, PTS has more than 150-years of combined aviation management experience and significant expertise in buying, leasing, and selling engines, modules, and used serviceable material (USM). The acquisition of PTS Aviation will allow StandardAero to expand its portfolio of services and increase its capabilities to buy, sell, and embody USM into the CFM56-7B engine platform. | PTS Aviation, StandardAero, 31 Dec 2021, Miramar-Florida, Aerospace Services
MKD Electric, LLC (MKD), a portfolio company of Hastings Equity Partners, LLC (Hastings), invested in XSTele.com, LLC (XS Telecom). Based in Warrenton, VA and founded in 2014, XS Telecom is a national provider of essential communications infrastructure, providing voice and data network cable design, installation, and support solutions for large national data center companies and Fortune 500 clients. A combination of MKD and XS Telecom will create a scaled national provider servicing rapidly growing, attractive end markets, including data centers. This is the third investment MKD has completed since Hastings, a private equity firm focused on investing in lower middle market businesses, acquired MKD in January 2021. | XS Telecom, MKD Electric, 14 Dec 2021, Warrenton- Virginia, Manufacturing & Business Services
Third Wave Business Systems (“Third Wave”) was acquired by Evergreen Services Group (“Evergreen”) in August 2021. Third Wave is the country’s longest standing SAP Business One ERP Partners. As an SAP Gold Partner, Third Wave helps small and midsize businesses implement and customize SAP Business One in addition to a suite of proprietary software solutions including Versago and BizWeaver. In Third Wave, Evergreen sees the opportunity to enhance its capabilities in the rapidly growing managed applications market that is highly complementary to Evergreen’s portfolio of MSPs. | Third Wave Business Systems, Evergreen Services Group, Aug 2021, New Jersey, Manufacturing and Business Services
Pegasus Home Fashions (“Pegasus”) was acquired by H.I.G. Capital (“H.I.G.”) in August 2021. Pegasus is one of the country’s largest and fastest growing manufacturers of pillows and wholesaler of ancillary bedding products. Pegasus has a broad portfolio of proprietary, licensed, and private label brands that are manufactured within several facilities throughout the United States. Partnering with H.I.G. will add to Pegasus’ resources and accelerate capitalizing on the company’s many growth opportunities. | Pegasus Home Fashions, H.I.G. Capital, Aug 2021, National, Consumer Products & Manufacturing
TriSpan LLP (“TriSpan”) has acquired Melville, NY-based Prestige Employee Administrators, Inc. (“Prestige”) forging a strong partnership with the company’s founders and management team. The transaction became effective December 31st, 2020. Established in 1998, Prestige has established a proven track record in providing small and mid-size businesses (SMBs) a turnkey solution for managing all aspects of their human resources (HR) functions. This partnership will help take Prestige to its goal of becoming one of the nation’s leading PEO. TriSpan is a private equity firm that is committed to drive growth and performance by bringing deep operational and financial resources to bear in each of its investments. MidCap acted as advisor to Prestige in the transaction. | Prestige Employee Administrators Inc., TriSpan LLP, 31 Dec 2020, Melville - NY, Manufacturing & Business Services
IES Holdings, Inc. has acquired all of the equity interests in Aerial Lighting & Electric, Inc., a Naugatuck, CT-based electrical contractor specializing in the design and installation of electrical systems for multi-family developments, with revenues of approximately $24 million in calendar year 2019. Aerial will become part of IES’s Residential segment and continue to operate under the Aerial name. | Aerial Electric, IES Holdings, 18 Feb 2020, Connecticut, Manufacturing & Business Services
Carfoldio Ltd, designs and develops the world’s most compact, adjustable and portable child car safety products under the MiFold and HiFold brands.  | MiFold, MidCap Equity Partners, 13 Jan 2020, Israel, Manufacturing & Business Services
| Byrne Dairy Fluid Milk Operations, Upstate Niagra Cooperative Inc., 25 Nov 2019, New York, Manufacturing & Business Services
Inverness Graham has acquired Corsica Technologies, a provider of managed IT services. Corsica provides managed IT services to small and medium-sized businesses. The company’s services include network security, IT project management, systems management, 24/7 help desk services, on-site services, network monitoring services, data backups and disaster recovery, and strategic IT planning. Corsica, led by CEO Dale Walls, was founded in 2003 and is headquartered in Centreville, MD with additional offices in New York, Annapolis, and Houston. | Corsica Technologies, Inverness Graham, 22 Nov 2018, New York, Manufacturing & Business Services
| Unity Graphics and Engraving, British American Tool and Die, 1 Oct 2018, New Jersey, Manufacturing & Business Services
| International Vapor Group, Turning Point Brands, 6 Nov 2018, Florida, Manufacturing & Business Services
| Access Systems Integration, ADT, 9 Aug 2018, Florida, Manufacturing & Business Services
| Payer Sciences, Publicis Health, 17 July 2018, New Jersey, Manufacturing & Business Services
| Aerocision, Bromford Industries, 29 Mar 2018, Connecticut, Manufacturing & Business Services
| Pleatco, Align Capital, 17 July 2017, New Jersey, Manufacturing & Business Services
Crozier Fine Arts (CFA), a subsidiary of Iron Mountain, Inc. acquired Cirkers Fine Art (Cirkers). The strategic acquisition expands CFA's storage, logistics, and transportation capabilities for high value paintings, photographs, and other types of art belonging to individual collectors, galleries and art museums. CFA is a leader in art storage and an industry advocate for worldwide standards. MidCap served as advisor to Cirkers. | Cirkers Fine Arts, Crozier Fine Arts, 3 Jan 2017, New York, Manufacturing & Business Services
Iron Mountain, Inc. the storage and information company, acquired Crozier Fine Arts (CFA), a storage, logistics, and transportation firm for high value paintings, photographs, and other types of art belonging to individual collectors, galleries and art museums. CFA is a leader in art storage and an industry advocate for worldwide standards. MidCap served as advisor to CFA. | Crozier Fine Arts, Iron Mountain, 2 Dec 2015, New York, Manufacturing & Business Services
Morgenthaler Private Equity recapitalized B&E Group, LLC, a leader in the aviation industry with advanced engineering, repair, and manufacturing. B&E Group is comprised of two distinct business units, an original equipment manufacturing (OEM) group, which manufactures complex, machined components used in commercial aerospace, military and space applications, and a maintenance, repair and overhaul (MRO) group, which repairs commercial aerospace engine components. The Company is headquartered in Southwick, MA and Fort Myers, FL. MidCap served as advisor to B&E Group, LLC. | B&E Group LLC, Morgenthaler Private Equity, 11 Nov 2015, Massachusetts, Manufacturing & Business Services
Boathouse Capital, a Philadelphia-based investment fund, invested in Pleatco, a New York water filtration product manufacturer. Pleatco is a leading manufacturer of water filtration products for the pool and spa industry and is known for quality and innovation. Boathouse invested mezzanine debt to recapitalize Pleatco's balance sheet to fund future growth. | Pleatco, Boathouse Capital, 1 Sep 2015, New York, Manufacturing & Business Services
| Exchange Monitor Publications, Access Intelligence LLC, 1 Mar 2015, Virginia, Manufacturing & Business Services
Boathouse Capital, a Philadelphia-based investment fund, invested in Pleatco, a New York water filtration product manufacturer. Pleatco is a leading manufacturer of water filtration products for the pool and spa industry and is known for quality and innovation. Boathouse invested mezzanine debt to recapitalize Pleatco's balance sheet to fund future growth. | Pleatco, Boathouse Capital, 18 Sep 2013, New York, Manufacturing & Business Services
Toppan Vite, a leading financial printer managing mission-critical content for capital markets transactions, financial reporting and regulatory compliance filings, and investment company and insurance communications, acquired Tri-State Financial Press LLC, a leading New York area financial printer. | Tri-State Financial Press, Toppan Vite, 17 Dec 2012, New York, Manufacturing & Business Services
Enterprise holdings has acquired the business of Mint Cars On-Demand (Mint). Mint is a car-sharing company serving more than 8,000 members in New York City and Boston. Mint was founded in 2008 and grew to be one of the largest regional car-sharing companies with a network of more than 40 locations across Manhattan, Brooklyn, and Boston in just four years. MidCap served as advisor to Mint. | Mint Cars On-Demand, Enterprise Holdings, 15 May 2012, New York, Manufacturing & Business Services
| 3D Medical, Scorpion Capital Partners, 1 Jul 2011, Florida, Manufacturing & Business Services
| Calderon Brothers Vending Co., Treat America, 1 Jul 2009, Indiana, Manufacturing & Business Services
The Tiffen Company, a leading US manufacturer of glass filters and other products for the motion picture and broadcast industries, expanded its product offering and distribution channels through the acquisition of Lowel-Light Manufacturing, Inc. (Lowel). Lowel provides award winning solutions that make it easier to transport, set-up, control, and maintain lighting equipment for professional use. They are considered the world leader for location lighting. MidCap served as advisor to Lowel. | Lowel-Light Manufacturing, Tiffen Company, 15 Jan 2009, New York, Manufacturing & Business Services
TW Metals, Inc., a member of the O'Neal Steel family of companies, acquired Stainless Tubular Products (STP), a leading metal service center in the U.S.. STP was founded in 1979 and specializes in providing welded stainless steel tubing, pipe, fittings and bar. MidCap served as advisor to STP. | Stainless Tubular Products, TW Metals, 7 Dec 2008, New Jersey, Manufacturing & Business Services
Michael Stapleton Associates, a national perimeter security company, acquired Access Systems Integration (ASI), the New York region's leading electronic security integrator. ASI provides integrated intrusion detection, IP-based digital video recording, visitor management, and access control systems for clients throughout the tri-state area. MidCap served as advisor to ASI. | Access Systems Integration LLC, MSA Security, 11 Nov 2008, New Jersey, Manufacturing & Business Services
| A.J. Weigand, Canadian Strategic Buyer, 1 Jul 2006, Ohio, Manufacturing & Business Services
| Barnes Bore Honing & Finishing, Lapmaster, 1 Jul 2006, Illinois, Manufacturing & Business Services
Amerex Group, a leading importer of winter coats, was acquired by management in a leveraged buyout. Financing was provided by Allied Capital. MidCap acted as advisor to Amerex management and arranged the financing. | Amerex Group Inc., Amerex Group LLC, 30 Dec 2005, New York, Manufacturing & Business Services
| Innova Interiors, Management Buyout, 15 Sep 2005, New York, Manufacturing & Business Services
| RPM, The October Company, 1 Jan 2002, Massachusetts, Manufacturing & Business Services
| American Avionic Technologies Corporation , New England Capital Partners, 1 Jan 2002, New York, Manufacturing & Business Services
| Perfect Circle Paintballs, Pepperball Technologies, 1 Jan 2000, Illinois, Manufacturing & Business Services
Annin Flag, the largest manufacture of American flags in the United States, purchased Detra Flag, the second largest manufacture of American Flags in an asset transaction. MidCap advised Annin in the purchase transaction. | Dettra Flag, Annin Flagmakers, 1 Jan 2000, Pennsylvania, Manufacturing & Business Services