Sphere of Influence: Spearheads U.S. industrials transactions and co-leads KPMG's audit, tax and equity coverage team
A force in the industrials M&A realm, Chrisanne Corbett has worked on deals such as Polypipe Group plc’s (LON: PLP) purchase of Nuaire and Dexter Axle’s acquisition of Al-ko Axis Inc.’s assets.
“Most of my deals have gone strategic,” Corbett says. As for private equity, the “volume of deals in the second half of 2015 has been for add-ons.” A few private equity firms considered buying Nuaire, which makes and designs ventilation systems, but the deal ultimately went to Yorkshire, U.K.-based plastic pipe manufacturer Polypipe in a transaction that closed in August 2015.
“I flew to London, and we pitched it, including to a couple U.S. private equity groups,” Corbett says. Nuaire was sold by Electra Partners, a London-based private equity firm.
The transaction underscores two important middle-market trends: An influx of strategic buyers, and the importance of cross-border dealmaking prowess. “This is a global marketplace,” Corbett says. “There are no borders anymore.”
In another transaction, Corbett handled private equity-backed Dexter Axle’s purchase of Al-ko Axis Inc.’s North American assets, which include axles and other parts for trailers and towable equipment in the utility, recreational vehicle, heavy duty, manufacturing housing, agricultural, marine and specialty markets. Dexter is backed by Houston private equity firm the Sterling Group, which bought the manufacturer of trailer axles in 2012.