Gridiron Capital is buying Dent Wizard, which provides auto repair services.
Dent Wizard, headquartered in St. Louis, Missouri, provides automotive reconditioning services and related products in North America. The company’s services include paintless dent removal, wheel repair, paint repair and interior repair. Terms of the deal were not disclosed.
New Canaan, Connecticut-based private equity firm Gridiron focuses on investing in middle-market manufacturing, service and specialty consumer companies. The firm invests in companies with Ebitda between $8 million and $50 million. Gridiron's other investments include Apex Engineering International, Executive cabinetry and Ramsey Industries.
HIG Middle Market, the middle market investment affiliate of HIG Capital, sold Dent Wizard. HIG owned Dent Wizard since 2010.
NXT Capital provided a senior secured credit facility for the deal.
We've seen many recent deals in the coatings, adhesives and sealants space, including Accella Performance Materials Inc.'s purchase of IPS Polymer Systems, and Royal Adhesives & Sealants LLC's deal for Advanced Polymers International. Acquisitive coatings group, PPG Industries (NYSE: PPG), won Mergers & Acquisitions M&A Mid-Market Strategic Buyer of the Year Award for 2014.
We've also been seeing a stream of car-related transactions. Earlier in April, Avis Budget Group (Nasdaq: CAR) closed a $160 million deal for Italian car-rental company Maggiore Group. In March, Bain-backed Apex Tool Group LLC closed a deal for Shanghai Yecen Auto Technology.