Hudson Ferry Capital – 2012 Highlights
Hudson Ferry Capital had a very active and successful year in 2012, which included three acquisitions and one exit. We expanded our team in 2013 with two new hires. We are aggressively seeking new investments and add- on acquisitions for our portfolio companies. Please contact Mark Deutsch, Partner, at 212-308-3896 or mdeutsch@hudsonferry.com.
Acquisitions
American Signcrafters, Inc. (ASC) – In April, Hudson Ferry Capital invested in ASC. With headquarters in Islip, New York, and additional manufacturing facilities in New Jersey and Florida, ASC is a premier signage company and provides full design, manufacturing, project management and installation services to clients in a broad range of retail segments.
ALCOM, Inc. – In June, Hudson Ferry Capital invested in ALCOM, Inc. ALCOM, based in Winslow, Maine, designs and manufactures specialty aluminum trailers in hundreds of configurations.
Percheron – In June, Hudson Ferry Capital’s portfolio company, Mason Dixon Energy, merged with OGM Land and its affiliated companies, Percheron Acquisition and Percheron Surveying, to form Percheron LLC. Percheron is the first fully-integrated land services provider capable of serving clients coast-to-coast.
Exit
ASAP Industries – In December, Hudson Ferry Capital sold its first investment, ASAP Industries, and returned over 6x invested capital. ASAP, located in Louisiana, is a manufacturing company that makes wellhead and drill-thru equipment used in the production of oil and natural gas.
Targeted Investments
- Niche manufacturers
- Business services providers
- Building products companies
- Outsourcing providers
Financial Attributes
- Enterprise Value: $15‐$75 million
- Revenue: $15‐$75 million
- EBITDA: $3‐$12 million
- Strong and growing free cash flow
Prospects for Value Creation
- Organic growth
- Ability to access new markets
- Ability to broaden product or service offerings
- Acquisitions
- Manufacturing efficiencies
Market Position
- Differentiated or proprietary product, service, distribution channel process or technology
- Meaningful cost advantage and/or high switching costs
- Strong customer base
- High barriers to entry
Management
- Strong management team financially committed to the transaction
- Vision and desire to transition to the next level
New Hires
On January 14, 2013, Robert Athas joined Hudson Ferry Capital as an Associate. Previously, Robert was a Vice President with KPMG Corporate Finance and has extensive experience in corporate finance and mergers and acquisitions. In prior roles, Robert worked at Cross Keys Capital, Bank of New York, and Bear Stearns. Robert holds an MBA from the F.W. Olin Graduate School of Business at Babson College and a BS in Finance from the University of Rhode Island.
Also on January 14, 2013, Jacob Bennett joined Hudson Ferry Capital as an Analyst. Previously, Jacob was an analyst at Skadden, Arps, Slate, Meagher & Flom LLP in New York City. At Skadden, Jacob assisted in the analysis of mergers and acquisitions and capital markets transactions, and compiled market and industry research to support new business efforts. Jacob holds a BA in Economics from Columbia University.
About Hudson Ferry Capital
Hudson Ferry Capital (www.hudsonferry.com) is a New York-based private equity firm that is currently making investments from Hudson Ferry Capital II, L.P., a $155 million fund with a focus on lower middle market niche manufacturing and business service companies. The firm partners with entrepreneurial owners and managers of established privately-owned companies that are differentiated through product or process innovation. As a trusted financial partner, Hudson Ferry can provide liquidity to current owners, provide capital to execute a growth strategy, and assist in transitioning an organization from a smaller or regional family-owned business into a larger, integrated enterprise.