Commercial & Industrial Group

BB&T Capital Markets provides an unsurpassed level of service and execution capability to leading middle market companies and private equity firms in the Commercial & Industrial sector.

Backed by the resources of one of the largest financial institutions in the nation, our investment bankers, corporate bankers and equity research analysts bring years of industry-specific experience to the table—a factor that equips us to offer unique insights and deliver world class solutions.

Let us put our experience to work for you.

 

Our Commercial & Industrial team was awarded M&A Advisor magazine’s Cross-Border Deal of the Year award in 2012—our third award in three years.

  • Silicon Laboratories Inc. (NasdaqGS: SLAB)

    BB&T Capital Markets’ Diversified Industries Group completed a transaction for Silicon Laboratories Inc. in the first quarter of 2017, helping to raise $400,000,000 in gross proceeds for our client.

    Silicon Laboratories Inc., intends to use the proceeds from the offering to repay in full all amounts outstanding under its existing credit facility, and for general corporate purposes. Total gross proceeds includes the full exercise of the underwriter’s over-allotment option, through which they purchased an additional $50mm in principal notes.

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  • Microchip Technology Inc. (NasdaqGS: MCHP)

    BB&T Capital Markets’ Diversified Industries Group completed a transaction for Microchip Technology Inc. in the first quarter of 2017, helping to raise $2,300,000,000 in gross proceeds for our client.

    The offering consists of $1.8 billion of convertible senior subordinated notes due 2027, and $500mm convertible junior subordinated notes due 2037. Microchip Technology Inc. intends to use the net proceeds of this offering to repay indebtedness and for general corporate purposes. Microchip also granted the initial purchasers of the notes a 30-day option to purchase up to an additional $270 million aggregate principal amount of the 2027 notes and an additional $75 million aggregate principal amount of the 2037 notes to cover over-allotments.

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  • Southern Audio Visual, Inc.

    On December 1, 2016, Southern Audio Visual, Inc. (“SAV” or the “Company”), a portfolio company of Prudential Capital Partners (“Prudential”), was acquired by Audio Visual Services Group Inc. (d/b/a PSAV) (“PSAV”), a portfolio company of Olympus Partners and the Merchant Banking Division of Goldman Sachs. BB&T Capital Markets served as the exclusive financial advisor to SAV.

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  • Stanton Carpet Corporation

    On November 21, 2016, Stanton Carpet Corporation ("Stanton" or the "Company"), a portfolio company of Norwest Equity Partners ("NEP"), was acquired by Quad-C Management, Inc. ("Quad-C"). BB&T Capital Markets served as the exclusive financial advisor to Stanton.

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  • Trademark Games Holdings, LLC

    On October 31, 2016, Trademark Games Holdings, LLC (“Trademark” or the “Company”), a portfolio company of Blue Point Capital Partners (“Blue Point”), was acquired by Bertram Capital. BB&T Capital Markets served as the exclusive financial advisor to Trademark.

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  • Fortiline Waterworks

    On October 31, 2016, Fortiline Waterworks (“Fortiline” or the “Company”), a portfolio company of CHS Capital, was acquired by MORSCO, a portfolio company of Advent International. BB&T Capital Markets served as financial advisor to Fortiline.

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  • Lennox International, Inc. (NYSE: LII)

    On October 25, 2016, BB&T Capital Markets served as a co-manager for a $350 million offering of 3.00% senior notes due 2023 by Lennox International, Inc.

    Proceeds from the offering are being used for general corporate purposes.

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  • Owens Corning (NYSE: OC)

    On August 3, 2016, BB&T Capital Markets served as a co-manager for a $400 million offering of 3.40% senior notes by Owens Corning.

    Proceeds from the offering are being used for general corporate purposes, including to exercise the make-whole call to redeem all of the company’s outstanding 2016 notes and to repay outstanding debt.

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  • Eagle Materials Inc. (NYSE: EXP)

    On July 28, 2016, BB&T Capital Markets served as a book-running lead manager for a $350,000,000 offering of senior notes by Eagle Materials Inc. Proceeds from the offering were used to repay a portion of the amounts outstanding under Eagle’s credit facility.

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  • PulteGroup, Inc. (NYSE: PHM)

    On July 26, 2016, BB&T Capital Markets served as a book-running lead manager for a $1 billion two-tranche offering of senior notes by PulteGroup, Inc.
    The offering consisted of a $400 million tranche of 4.25% senior notes due 2021 and a $600 million tranche of 5.00% senior notes due 2027.

    Proceeds from the offering were used to repay a portion of the amounts outstanding under PulteGroup’s term loan facility, to repay any borrowings outstanding under its revolving credit facility and for general corporate purposes.

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  • NCI Building Systems Inc. (NYSE: NCS)

    BB&T Capital Markets’ Commercial and Industrial Group completed a transaction for a metal building systems manufacturer in the third quarter of 2016, helping to raise $167,152,500 for the selling shareholder, Clayton, Dubilier & Rice.

    The Company will not receive any of the gross proceeds from the offering of these shares. Clayton, Dubilier & Rice retains 42% ownership of the Company, down from 58% before this transaction. The 10.35 million share equity offering was completed with a concurrent repurchase of 2.91 million shares by the company. Total gross proceeds includes the full exercise of the underwriters’ over-allotment option, through which they purchased 1.35 million additional shares.

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  • Cape Electrical Supply LLC

    On July 1, 2016, Cape Electrical Supply LLC (“Cape Electric”), a portfolio company of Svoboda Capital Partners LLC, was acquired by Graybar Electric Company, Inc. (“Graybar”). BB&T Capital Markets served as the exclusive financial advisor to Cape Electric.

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  • Safety Products Group

    On June 17, 2016, Safety Products Group LLC (“SPG” or the “Company”), a portfolio company of Gemini Investors, TMW Enterprises, and Akoya Capital, was acquired by Tractel S.A.S. (“Tractel”), a portfolio company of Cinven. BB&T Capital Markets served as the exclusive financial advisor to SPG.

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  • WESCO International, Inc. (NYSE: WCC)

    On June 2, 2016, BB&T Capital Markets served as a  co-manager for a $350 million offering of senior notes by WESCO International, Inc. Proceeds from this offering are being used to repay the company’s 6.0% Convertible Senior Debentures due 2029, which are redeemable on or after September 15, 2016.

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  • Waste Connections, Inc. (NYSE: WCN)

    On June 1, 2016, BB&T Capital Markets served as a placement agent for a $750 million private placement of senior unsecured notes by Waste Connections, Inc. The issue consists of three tranches: $150 million of 2.39% senior notes due 2021; $200 million of 2.75% senior notes due 2023; and $400 million of senior notes due 2026.  Proceeds from the transaction are being used in conjunction with a merger transaction involving Waste Connections (formerly Progressive Waste Solutions Ltd. ("Progressive Waste")) and Waste Connections US, Inc. (formerly Waste Connections, Inc. ("Old Waste Connections")).

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  • Southern Company (NYSE: SO)

    On May 19, 2016, BB&T Capital Markets served as a  co-manager for an $8.5 billion offering of senior notes in seven tranches by The Southern Company. The offerings consisted of $500 million 1.55% senior notes due 2018; $1 billion 1.85% senior notes due 2019; $1.5 billion 2.35% senior notes due 2021; $1.25 billion 2.95% senior notes due 2023; $1.75 billion 3.25% senior notes due 2026; $500 million 4.25% senior notes due 2036; and $2 billion 4.40% senior notes due 2046. The net proceeds from the sale of the notes will be used to pay merger consideration for The Southern Company’s acquisition of AGL Resources Inc. Any remaining amounts will be used for general corporate purposes.

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Our Areas of Expertise

Building Materials

Cement, Aggregates & Concrete, Building Components, Composite Materials and Specialty Building Materials Distribution

Commercial & Consumer Durables

Bedding & Flooring, Cabinets, Millwork & Molding, Furniture & Fixtures, Institutional & Office Furniture, Lighting and Windows & Doors

Construction, Engineering, & Infrastructure

Commercial Construction, Heavy Civil Construction, Construction Equipment & Tools, Infrastructure Services, Specialty Construction and Facility Services

Industrial Distribution

Broad-line Distribution, Specialty Distribution, and MRO Supplies Serving All Commercial & Industrial End Markets

Industrial Manufacturing & Services

Precision Components, Machine Tools, Motors & Controls, Filtration, Hydraulics, Fluid Power, Pumps, Pipes, Valves & Fittings, Wire & Cable, Bearings and HVAC