TVV Capital Sells Big 3 Precision Products, Inc. for $81.7 Million

We represented TVV Capital portfolio company Big 3 Precision Products, Inc., a maker of turnkey packaging solutions, in its sale to The Eastern Company (Nasdaq: EML), a publicly traded diversified manufacturer, for $81.7 million. For nearly a decade, Bass, Berry & Sims has represented TVV Capital and Big 3 Precision in its growth strategy, including TVV’s initial acquisition of Big 3, two bolt-on acquisitions and numerous financings.

“We are proud of TVV Capital and Big 3 Precision Products for their tremendous success and growth over the years and appreciate the opportunity to have represented them through the lifecycle of their partnership. We look forward to our continued growth in our representation of private equity funds and their portfolio companies,” said lead deal attorney John Fuller.

The deal team was led by Bass, Berry & Sims corporate attorney John Fuller and included corporate attorneys Ryan Hoffman and Tyler Huseman. Philip Lewis counseled on tax issues while John Dawson directed the client through complex environmental matters; Felix Dowsley and Katie Smalley advised on financing-related matters; Curtis Fisher advised on employee benefits matters; Kimberly Veirs advised on labor and employment matters; and Shelley Thomas advised in intellectual property matters.

“John, Ryan, and the rest of the team at Bass, Berry & Sims provided us with first-class legal representation on Big 3 from acquisition to sale,” said A.J. Byrd, managing director at TVV.  “Their expertise and responsiveness helped us manage and realize a on a portfolio company that ultimately returned a double-digit multiple on equity to Big 3’s investors.  We appreciate all of their help over the years.”

The transaction was highlighted in several media outlets, including:

Big 3 Precision Products offers design and fabrication services to create container and racking systems for the aerospace, truck, automotive, plastic, glass, fiberglass, military and SMC industries.

TVV Capital is an operationally-focused private equity investment firm that targets high-performing niche manufacturing companies in the lower middle-market. The firm seeks to accelerate portfolio growth and expansion through an operational value-added approach, utilizing senior manufacturing executives to forge close working partnerships with portfolio company leadership.

The Eastern Company is a 161-year-old manufacturer of custom-engineered components and products, including industrial hardware, security products and metal castings. It operates from 18 locations in the U.S., Canada, Mexico, U.K., Taiwan and China. The broad range of Eastern’s products helps it to respond to the changing requirements across diverse markets, including heavy and medium trucks, consumer packaged goods, mining, commercial laundry, electronics, military and other industrials.

The Bass, Berry & Sims Corporate & Securities Practice encompasses mergers and acquisitions, capital markets transactions, corporate governance and shareholder activism. We serve as primary corporate and securities counsel to more than 35 public companies and have counseled on 150 deals ranging in size from $20 million to more than $15 billion over the past two years. The team and our attorneys have been consistently recognized in leading industry outlets, including Chambers USA – ranked as a top corporate firm in Tennessee since 2003 – and M&A Advisor Award recipient for – “Healthcare & Life Sciences Deal of the Year ($100M – $1B)” and “Industrials Deal of the Year (Over $1B)” in 2019; and “M&A Deal of the Year ($10MM-$25MM)” and “Healthcare and Life Sciences Deal of the Year (Over $100MM-$1B)” in 2018.

You Also May Be Interested In:

  • We represented ALS Education, Inc., an education dropout prevention and recovery program, in the sale of its charter school management...
    Client Type: Private Company
  • Lead Counsel to POINT Biopharma Inc. in connection with its proposed SPAC business combination with Therapeutics Acquisition Corp. d/b/a Research Alliance Corp. I (Nasdaq: RACA), a special purpose acquisition company, sponsored by RA Capital Management.  Upon closing, the combined company will be named POINT Biopharma Global Inc. and is expected to be listed on Nasdaq under the ticker symbol “PNT”.

    We served as lead legal counsel to POINT Biopharma Inc., a late stage biopharmaceutical company dedicated to bringing the many...
    Client Type: Private Company
  • Representation of NN, Inc. (NASDAQ: NNBR) in a new financing with J.P. Morgan, funds managed by Oaktree Capital Management, L.P., and investment funds managed by Morgan Stanley Tactical Value providing a $50 million asset-based credit line (ABL), a 5.5-year $150 million term loan, and a $65 million preferred stock issuance, respectively. Proceeds from the transaction will be used to repay the current principal balance of $70 million on its term loans due in 2022, to redeem its current $100 million outstanding preferred stock, prior to the increase in redemption premium at March 31, 2021, and pay off its fixed interest rate swap of $14 million. The transaction enables the company to strengthen its balance sheet by extending its capital structure’s maturity at an attractive blended cost of capital, allowing the company financial flexibility to continue its current business transformation efforts.

    We represented NN, Inc. (NASDAQ: NNBR) in a new financing with J.P. Morgan, funds managed by Oaktree Capital Management, L.P., and...
    Client Type: Public Company