Superior was previously a portfolio holding of MCG Capital Corporation (Nasdaq: MCGC) and Boyne Capital Partners, LLC. BlackArch was retained by MCG, Boyne and members of Superior’s management to serve as exclusive financial advisor on the sale of the company.
Details of the transaction were not disclosed.
Headquartered in Carrollton, Ga., Superior and its subsidiaries manufacture and distribute indoor and outdoor commercial playgrounds, shelters, shade products, water slides and other site amenities sold under more than 15 brand names. The company’s products are used in parks, schools, churches, resorts, hotels, airports and restaurants.
Superior employs about 350 people at six facilities across the United States. Ray Derbecker, the co-founder, President and CEO of Superior, will remain with the company under Pfingsten’s ownership, along with Chief Financial Officer Brian Campbell and other members of the senior management team.
“The entire BlackArch team brought the highest level of skill and resolve to executing this transaction,” Derbecker said. “I am in awe of the quality of their work and the way they inspired our entire team to be the best we could be. They put a framework around the process and our company that was completely honest and straightforward while highlighting all of the best things about Superior.”
MCG Capital Corporation (
www.mcgcapital.com), based in Arlington, Va., is a solutions-focused commercial finance company providing capital and advisory services to middle-market companies throughout the United States. Its investment objective is to achieve current income and capital gains. Its capital is generally used by portfolio companies to finance acquisitions, recapitalizations, buyouts, organic growth and working capital. MCG and its predecessors have been active investors in middle-market companies since 1990 and have invested $6.2 billion in 618 transactions.
Boyne Capital Partners is a Miami, Fla.-based private equity firm. Co-founders Derek McDowell and Jim Malone have decades of knowledge in diversified industries. Boyne Capital Partners (
www.boynecapital.com) creates shareholder value by providing capital and management assistance to lower middle-market companies. Boyne currently manages over $70 million of equity capital.
Pfingsten Partners (
www.pfingstenpartners.com) is an operationally focused private equity firm founded in 1989. Headquartered in Chicago and with offices in Chang'an, China, and New Delhi, India, the firm focuses on operational improvements, professional management practices, global capabilities and profitable business growth at its portfolio companies.
BlackArch Partners is a middle-market investment bank offering a full spectrum of advisory services. The firm offers a full suite of investment banking advisory services to Financial Sponsors and Diversified Corporations and addresses the needs of entrepreneurs, founders and shareholders of Private Companies with specialized services that include Strategic Advisory and Private Capital solutions, as well as M&A advisory work. Based in Charlotte, N.C., BlackArch covers all industries of interest to middle-market investors and its professionals have closed deals in 15 countries on four continents. Please visit our website, www.blackarchpartners.com, for more details.
