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Tonka Bay Equity Partners Mergers and Acquisitions Summary

Private Equity Firm Profile

In the last 3 years, Tonka Bay Equity Partners has acquired 3 companies. It has also invested in 1 other.

Tonka Bay Equity Partners’ most common sectors for investment arebusiness services (15%) and healthcare services (15%) . The Firm’s most common investment types include buyout (lbo, mbo, mbi) (42%) and growth capital (36%). In total, Tonka Bay Equity Partners has invested in 17 US states and 2 different countries.

In the last 3 years, Tonka Bay Equity Partners has exited 3 companies. The Firm’s most common exit type is trade sale (50%).

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M&A Summary

  • M&A Total Activity58
    • M&A Buy Activity34
    • M&A Sell Activity24
  • Total Sectors Invested 16
  • Total Countries Invested 2
  • M&A Buy/Sell Connections 27
  • M&A Advisors 3

Tonka Bay Equity Partners

Tonka Bay Equity Partners

301 Carlson Parkway, Suite 325,
Minnetonka, Minnesota 55305
United States
(952) 345-2030
www.tonkabayequity.com
info@tonkabayequity.com

Tonka Bay Equity Partners is a Midwest US-based private equity firm that targets control and non-control investments in manufacturing, business services, and value-added distribution companies with at least $2 million of EBITDA. Tonka Bay will consider a variety of transaction situations, including management buyouts, shareholder liquidity events, recapitalizations, and expansions. Tonka Bay Equity Partners was formed in 1998 and is based in Minnetonka, Minnesota.


Investment Criteria

Sectors of Interest: Aerospace, Business Services, Chemicals, Consumer Products, Consumer Services, Distribution, Electrical Equipment, Electronics, Food, Healthcare Services, Leisure, Machinery, Manufacturing, Packaging, Plastics, Safety/Security, Semiconductors, Test/Measurement Equipment, Transportation

Target Transaction Types: Buyout (LBO, MBO, MBI), Growth Capital, Recapitalization, Secondary Buyout, Stake Purchase

Geographic Preferences: East US, Midwest US, South US, West US

Transaction Criteria Min Max
Target Revenue - -
Target EBITDA 2 -
Investment Size - -
Enterprise Value - -
values in millions of USD

M&A Summary

Buy vs Sell

Year ≤ '20 '21 '22 '23 '24 '25 T
Buy (1.2/yr) # 28 2 1 1 1 1 34
Sell (0.8/yr) # 20 1 1 - 2 - 24
  58

Most Recent M&A

Company Date Value Type
LightMart 2025-01-07 - Growth Capital
Lake Zurich, Illinois · www.lightmart.com
Orange Tree Employment Screening LLC 2024-06-04 - Trade Sale
Minneapolis, Minnesota · www.orangetreescreening.com
Image Audiovisuals 2024-04-02 - Buyout (LBO, MBO, MBI)
Denver, Colorado · www.imageav.com
United Skin Specialists LLC 2024-01-09 - Trade Sale
Plymouth, Minnesota · www.unitedskinspecialists.com
Corporate Technologies LLC 2023-09-07 - Secondary Buyout
Minneapolis, Minnesota · www.gocorptech.com
Standard Locknut LLC 2022-11-30 - Divestiture
Westfield, Indiana · www.stdlocknut.com
Seaway Plastics Engineering LLC 2022-06-23 - Secondary Sale
Port Richey, Florida · www.seawayplastics.com
Professional Credit 2021-07-26 - Growth Capital
Vancouver, Washington · www.professionalcredit.com
NuSource Financial LLC 2021-02-16 - Secondary Sale
Eden Prairie, Minnesota · www.nusourcefinancial.com
Orange Tree Employment Screening LLC 2021-02-02 - Growth Capital
Minneapolis, Minnesota · www.orangetreescreening.com
View All >>

M&A by Sector

Sector Current # Value All-time # Value
Business Services 1 (13%) - 5 (15%) -
Healthcare Services - - 5 (15%) -
Manufacturing 1 (13%) - 4 (12%) -
Distribution 1 (13%) - 3 (9%) -
Aerospace - - 2 (6%) -
Plastics - - 2 (6%) -
Safety/Security - - 2 (6%) -
Semiconductors 1 (13%) - 2 (6%) -
Test/Measurement Equipment - - 2 (6%) -
Chemicals - - 1 (3%) -
Consumer Products 1 (13%) - 1 (3%) -
Electrical Equipment 1 (13%) - 1 (3%) -
Information Technology 1 (13%) - 1 (3%) -
Leisure - - 1 (3%) -
Machinery - - 1 (3%) -
Media 1 (13%) - 1 (3%) -
Total 8 - 34 -

Acquisitions By Geo

State/Country Current # Value All-time # Value
United States 7 (88%) - 33 (97%) -
  Minnesota 2 (25%) - 11 (32%) -
  Colorado 1 (13%) - 4 (12%) -
  Wisconsin 1 (13%) - 2 (6%) -
  Iowa - - 2 (6%) -
  California - - 2 (6%) -
  Washington 1 (13%) - 1 (3%) -
  Indiana 1 (13%) - 1 (3%) -
  Illinois 1 (13%) - 1 (3%) -
  West Virginia - - 1 (3%) -
  Texas - - 1 (3%) -
  North Carolina - - 1 (3%) -
  New York - - 1 (3%) -
  New Jersey - - 1 (3%) -
  Massachusetts - - 1 (3%) -
  Georgia - - 1 (3%) -
  Florida - - 1 (3%) -
  Connecticut - - 1 (3%) -
United Kingdom 1 (13%) - 1 (3%) -
Domestic 7 (88%) - 33 (97%) -
Cross-border 1 (13%) - 1 (3%) -
Total 8 - 34 -

Acquisitions by Deal Type

Type Current # Value All-time # Value
Buyout (LBO, MBO, MBI) 4 (50%) - 14 (41%) -
Growth Capital 2 (25%) - 12 (35%) -
Secondary Buyout 1 (13%) - 5 (15%) -
Divestiture 1 (13%) - 2 (6%) -
Recapitalization - - 1 (3%) -
Total 8 - 34 -

Exits by Deal Type

Type Total # Value
Trade Sale 12 (50%) -
Secondary Sale 11 (46%) -
Trade Sale - Public Company 1 (4%) -
Total 24 -

Top M&A Advisors

Financial Deals
William Blair
 1
Bayview Capital Group
 1
Lincoln International
 1

M&A Connections

Deals
Acquired from
Investor(s)
15%
5 (15%)
Strategic(s)
6%
2 (6%)
Exited to
Investor(s)
46%
11 (46%)
Strategic(s)
50%
12 (50%)

Investor Summary

Investor Type

Private Equity Firm

Size

Middle-Market

PE Assets

560M USD

Established

1998

Specialist/Generalist

Generalist

Leadership

Jane King

CFO

Peter Kooman

Co-Founder & Partner

Cary Musech

Founder & Partner

Shane Slominski

Partner

Steve Soderling

Partner

FAQ

When was Tonka Bay Equity Partners founded?

Tonka Bay Equity Partners was founded in 1998.

What type of investor is Tonka Bay Equity Partners?

Tonka Bay Equity Partners is a private equity firm.

Where is Tonka Bay Equity Partners headquartered?

Tonka Bay Equity Partners is headquartered in Minnetonka, Minnesota.

How much capital does Tonka Bay Equity Partners have under management?

Tonka Bay Equity Partners has 560M USD under management.

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