COSTA MESA, Calif. - June 17, 2004 -- Summit Partners of Boston, Massachusetts, has made an equity investment in Tippmann Pneumatics, Inc., a privately held business headquartered in Fort Wayne, Indiana. Transaction terms were not publicly disclosed.
RSM EquiCo Capital Markets initiated the transaction, led the negotiations and acted as exclusive financial advisor to Tippmann.
"RSM EquiCo Capital Markets created a highly competitive sales process that attracted numerous strategic and financial buyers and yielded multiple premium offers," said Bob Byczek, senior managing director of RSM EquiCo Capital Markets.
"Tippmann Pneumatics ultimately selected Summit Partners based on pricing, structure, and the equity firm's proven ability to partner with management to grow businesses," Byczek continued. "With this transaction, Summit Partners gains a valuable platform investment with the paintball industry's strongest brand."
About Tippmann Pneumatics, Inc.
Tippmann Pneumatics is a designer and manufacturer of paintball equipment and accessories. The company's paintball markers meet the highest standards of quality, durability and reliability, helping Tippmann Pneumatics become the undisputed leader in the mid-range segment of the paintball market. Since its founding in 1986, Tippmann Pneumatics has led the growth of the paintball industry and is responsible for many of its technological advancements, including the industry's first fully automatic paintball marker.
About Summit Partners
Summit Partners is a private equity and venture capital firm with offices in Boston, Palo Alto, and London. Since its founding in 1984, Summit Partners has raised more than $5.5 billion, including $2.1 billion in its most recent fund, Summit Ventures VI. The firm has invested in more than 255 businesses, completed more than 105 initial and follow-on public offerings, and concluded more than 85 strategic sales or mergers. Summit Partners targets privately held companies with proven business models, consistent revenue and earnings growth, and quality management.
About RSM EquiCo, Inc.
RSM EquiCo is a leading global investment banking firm serving private middle-market companies throughout North America. With more than 400 professionals and support personnel, the firm specializes in mergers, acquisitions and divestitures for non-public companies with up to $500 million in annual revenues. Based in Costa Mesa, Calif., RSM EquiCo is part of RSM McGladrey Business Services, a business segment of H&R Block Inc. For more information, log on to www.rsmequico.com.