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Smartmatic, Incorporated
Divestment of subsidiary Sequoia Voting Systems (Sequoia)
Iridium acted as a strategy advisor to Smartmatic Inc., a leading technology company focused on security in networking devices, in its sale of its wholly owned subsidiary, Sequoia Voting Systems (Sequoia), a US market leader in voting machine technology with the largest installed base of voting machines in the country. Smartmatic had decided to focus its efforts on strengthening its position as the market leader in delivering the most comprehensive secure networking and end-to-end voting solutions to the international marketplace. A group led by Sequoia’s senior management team successfully purchased the subsidiary from Smartmatic.
Sequoia has provided election services and support to state and local government in the US for more than 100 years - dating back to the nation's first lever-based mechanical voting equipment in the 1890s. Sequoia products and services include election management software, voter registration database management systems, precinct-based optical scan ballot readers and ballot layout and printing services.
Smartmatic is a developer of a complete software and hardware infrastructure and solutions based on the ultra-safe interconnection of all types of devices through any type of network. Industries it serves include banking, physical security, fleet control, and automated elections, among others. Smartmatic remains a market leader in international election hardware, software, and management services.
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A&R Transport and Alliance Logistics
Recapitalized by FdG Associates
Iridium Partners acted as exclusive financial advisor to A&R Transport, a leading bulk transportation, packaging, distribution and logistics company based in Morris, IL, and Alliance Logistics, a non-asset based transportation management services provider based in Elgin, IL, in connection with the merger of the two companies and subsequent recapitalization together with FdG Associates, a leading New York based investment group. The company will be known as A&R Logistics going forward.
A&R Transport, formed in 1969, is one of the largest providers of bulk transport and related logistics services to the plastic resin industry. A&R operates from 22 facilities throughout the United States and manages a specialized fleet of approximately 700 tractors and 1,100 trailers. Alliance Logistics, an affiliate of A&R Transport, was formed in 1997 as a non-asset based transportation management services provider, offering carrier management, shipment planning and execution, freight bill audit and payment services and other third-party logistics services.
Headquartered in New York City, FdG Associates is a private investment firm providing growth capital to North American-based middle-market growth companies with sound businesses and unrealized potential. By building a partnership with management and offering creative problem solving and strategic, long-term planning focused around key corporate initiatives, FdG empowers companies to achieve their full growth potential and increase their equity value.
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AutomationSolutions
Recapitalized by The Riverside Company
Iridium Partners acted as exclusive financial advisor to AutomationSolutions, a developer and designer of highly engineered and very complex solutions involving electro-mechanical motion control (mechatronics) and machine automation, in connection with its recapitalization by the private equity group The Riverside Company. Riverside’s investment represents a partnership between The Riverside Company and AutomationSolution’s shareholders.
AutomationSolutions, based in Beverly, MA, employs a staff of highly trained engineers to custom design and integrate cutting edge machine automation solutions to sophisticated OEMs. The industries that it serves include: Life Science, Semiconductors, Packaging, and Homeland security, among others.
The Riverside Company is the largest private equity firm investing in premier companies at the smaller end of the middle market, focusing on industry-leading companies valued at $10 million to $100 million. They currently have $1.6 billion in capital under management and 120 professionals dedicated to niche leaders at the small end of the middle market. Riverside has offices in New York, Cleveland, Dallas, San Francisco, Atlanta, Chicago and Los Angeles, as well as a presence in Europe.
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The USA Bouquet Company
Recapitalized by FdG Associates
Iridium Partners acted as exclusive financial advisor to The USA Bouquet Company in connection with its recapitalization by the private equity group, FdG Associates. FdG’s investment represents a partnership between FdG and USA Bouquet's shareholders and its senior management.
The acquisition was funded with equity provided by FdG Associates and USA Bouquet management, as well as debt provided by Merrill Lynch & Co. Terms of the acquisition agreement were not disclosed.
The USA Bouquet Company is a leading international designer, importer and value added distributor of bouquets and fresh cut flowers. Headquartered in Miami, with national distribution presence in Chicago, Atlanta, and New Jersey, the company focuses on and is the market leader for providing products and services to the fastest growing segment of the market: the large supermarkets, mass markets and convenience stores across the country, including Wal-Mart, Publix, Aldi and Sam’s Clubs.
Headquartered in New York City, FdG Associates is a private investment firm providing equity capital to North American-based middle market growth companies with “best-of breed” business models and unrealized potential. By building partnerships with outstanding management teams and providing advisory resources from within and outside of the firm, FdG empowers companies to achieve their full growth and value creation potential.
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Quantum Medical Imaging
Recapitalized by Riverside Partners
Iridium Partners acted as exclusive financial advisor to the private equity group Riverside Partners in connection with its investment in Quantum Medical Imaging. Riverside Partners’ investment represents a partnership between Riverside and Quantum’s shareholders.
Quantum Medical Imaging, a highly innovative and fast-growing technology company, is a leading designer and manufacturer of high quality medical radiographic systems for hospitals and imaging centers around the world. The company supplies the radiographic imaging industry with superior products for enhanced diagnostic capability. The Riverside Partners' investment will be used by Quantum to enhance its international market expansion and to aggressively develop new products. Quantum has been growing at an average rate of 45% per year for over five years and has many exciting new programs to continue its superior growth profile.
Founded in 1989, Riverside Partners is a private equity firm that invests in leading healthcare and technology companies based in North America, with a particular focus on companies that are founder and family owned. Riverside's goal is to partner with companies to add significant value while allowing owners to reach their personal financial and professional goals.
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Hoboken Wood Flooring Corp
Recapitalized by Code Hennessey and Simmons
Iridium Partners acted as exclusive financial advisor to Hoboken Wood Flooring in connection with a majority equity investment in the company by the private equity firm, Code, Hennessey, and Simmons. CHS' investment represents a partnership between CHS and Hoboken's Management.
Hoboken Floors, established in 1923 and headquartered in Wayne, NJ, is the largest independent distributor of hard surface flooring in the country with sales exceeding $400 million. The company distributes hard surface flooring products from 26 locations in the categories of wood, laminate, resilient, ceramic tile, tools, installation materials, and accessories. The company also maintains two major design showrooms for the architectural and design communities in the D&D Building in New York and the Boston Design Center.
Since 1988, Code Hennessy & Simmons has formed five private equity funds and currently manages over $2.5 billion of capital. Today their portfolio consists of investments in 18 operating companies with combined annual revenues of more than $4.6 billion. CHS has invested in more than 56 platform companies and completed in excess of 130 add-on acquisitions.
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Allied Extruders Recapitalized by Red Diamond Capital
Iridium Partners acted as exclusive financial advisor to Allied Extruders in connection with a majority equity investment in the company by the private equity firm, Red Diamond Capital. Red Diamond’s investment represents a partnership between Red Diamond and Allied's Management.
Allied, based in Long Island City, New York, is a leading producer of high-density and low-density polyethylene film sold to converters and specialty packaging companies. Allied manufactures a wide array of tubing, centerfolds, and gusseted material, and uses various resins to accommodate the market's requirements for strength, seal-ability, and clarity.
Formed in 2002, Red Diamond Capital is an independent $150 million private equity fund that invests in middle market manufacturing, distribution and service businesses in North America. Through their partnership with Mitsubishi Corporation, Japan's leading trading company, Red Diamond offers a unique mix of strategic resources, industry-focused capital, and management expertise to fuel the growth of their portfolio companies.
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Electro Sound, Ltd., acquired by Starlight Electronics, LLC
Iridium Partners acted as financial adviser to Electro Sound in connection with the sale of the company to Starlight Electronics.
Electro Sound, Ltd., is a specialty electronics mail order distribution company. Established in 1980, the company is a leading importer of parts and accessories for consumer electronics with an extensive inventory of original and replacement parts covering many top manufacturers.
Starlight Electronics, LLC is a private holding company whose shareholders built Emerson Radio to a billion dollar electronics manufacturer from a start up and ultimately achieved a New York Stock Exchange listing.
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Holding Capital Group acquires a 60% interest in Europadisk, Ltd
Iridium Partners acted as exclusive financial advisor to Europadisk in connection with an equity investment in the company by the private equity firm, Holdings Capital Group. Holding Capital’s investment represents a partnership between Holding Capital and Europadisk's shareholders.
Europadisk is a complete manufacturing solution for independent musicians, labels, software producers, and resellers. The company manufactures commercial, molded CDs, DVDs, Vinyl Records, Cassettes and CD Business Cards, with a nationally known audio mastering studio, which has produced numerous Billboard charted hits. Europadisk also has a complete state of the art graphics studio, which produces custom artwork and digitally mastered pre-press.
Founded in 1975, Holding Capital Group is a private equity investment and international money management firm. The firm’s private equity focus is to acquire and grow - with management - profitable companies. They have acted as principal in over 200 acquisitions and other investments aggregating $3 billion in value. Today, the firm has investments in over 50 companies and manages, by itself and through its affiliates, over $2 billion. Holding Capital Group has over 60 members worldwide with backgrounds in industry, finance, and professional services.
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Experience Design Acquisition acquires 60% of Experience Design and Industrial Products Enterprises
Experience Design is a specialty manufacturer and designer of packaging products used to import and display soft luggage. The company holds numerous patents and has developed a line of proprietary products that protect fragile cargo.
Industrial Products Enterprises is a full service distributor of packaging products primarily to the garment industry. In addition to the complete line of shipping and packaging products the company also manufactures custom sealing tape.
Experience Design Acquisition, LLC is a syndicated investment group comprised of private investors, Sterling/Carl Marks Capital and Oberlin Capital.
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