Update: Digital Commerce M&A Update – July, 2025

July, 2025

For Q1 2025, the median transaction value in Digital Commerce was $113 million. For Q1 2025, strategic buyers accounted for 92% of transactions.

Select recent notable publicly announced M&A transactions:

–Triangle Home Fashions closed its acquisition of Trans-Ocean Import Co.at an undisclosed amount in March 2025.

–Furniture Mart USA closed its acquisition of Becker Furniture World at an undisclosed amount in February 2025.

–Cars.com closed its acquisition of Dealer Club for $113 million in January 2025.

–Maryland Brand Management closed its acquisition of Route One Apparel at an undisclosed amount in January 2025.

–eBay closed its acquisition of Caramel at an undisclosed amount in January 2025.

 

 

 

Securities offered through Peakstone Securities, LLC member FINRA/SIPC. All investments involve market risks, including the loss of principal. Past performance does not guarantee future results. Information on this website is not intended to be a recommendation or specific investment advice. Securities or companies mentioned are for illustrative purposes only and are not a recommendation to buy or sell. Investment decisions should be made based on an individual’s objectives and risk tolerance. Information on this website is intended for US residents only and does not constitute an offer to buy or sell securities in any jurisdiction to whom it is not lawful to make such an offer. Peakstone Securities, LLC is registered as a broker-dealer in the following states: Click here to see licensed states. The information provided does not constitute an offer to buy or sell in any jurisdiction to whom it is not lawful to make such an offer.
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Update: Consumer and Retail M&A Update – July, 2025

July, 2025

For Q1 2025, the median transaction value in Consumer & Retail was $50 million. For Q1 2025, strategic buyers accounted for 88% of transactions.

Select recent notable publicly announced M&A transactions:

–Brigade Capital Management and Macellum Management announced its acquisition of Family Dollar Stores for $1.0 billion in March 2025.

–Inspired Education Holdings Limited closed its acquisition of US Performance Academy for $15 million in March 2025.

–Express Wash Operations closed its acquisition of Boing Us Holdco for $385 million in February 2025.

–Valvoline announced its acquisition of Oil Changers for $625 million in February 2025.

–Progyny closed its acquisition of Benefit Bump for $11 million in January 2025.

 

 

Securities offered through Peakstone Securities, LLC member FINRA/SIPC. All investments involve market risks, including the loss of principal. Past performance does not guarantee future results. Information on this website is not intended to be a recommendation or specific investment advice. Securities or companies mentioned are for illustrative purposes only and are not a recommendation to buy or sell. Investment decisions should be made based on an individual’s objectives and risk tolerance. Information on this website is intended for US residents only and does not constitute an offer to buy or sell securities in any jurisdiction to whom it is not lawful to make such an offer. Peakstone Securities, LLC is registered as a broker-dealer in the following states: Click here to see licensed states. The information provided does not constitute an offer to buy or sell in any jurisdiction to whom it is not lawful to make such an offer.
Business Continuity Plan

Update: Automotive M&A Update – July, 2025

July, 2025

For Q1 2025, the median transaction value in Automotive was $22 million. For Q1 2025, the strategic buyers accounted for 98% of transactions.

Select recent notable publicly announced M&A transactions:

–Krause Auto Group closed its acquisition of Greenacres Nissan for $18 million in March 2025.

–Krause Auto Group closed its acquisition of West Palm Nissan for $13 million in March 2025.

–Valvoline announced its acquisition of Oil Changers for $625 million in February 2025.

–An undisclosed buyer closed its acquisition of Setex for $27 million in January 2025.

–Cars.com closed its acquisition of Dealer Club for $113 million in January 2025.

 

Securities offered through Peakstone Securities, LLC member FINRA/SIPC. All investments involve market risks, including the loss of principal. Past performance does not guarantee future results. Information on this website is not intended to be a recommendation or specific investment advice. Securities or companies mentioned are for illustrative purposes only and are not a recommendation to buy or sell. Investment decisions should be made based on an individual’s objectives and risk tolerance. Information on this website is intended for US residents only and does not constitute an offer to buy or sell securities in any jurisdiction to whom it is not lawful to make such an offer. Peakstone Securities, LLC is registered as a broker-dealer in the following states: Click here to see licensed states. The information provided does not constitute an offer to buy or sell in any jurisdiction to whom it is not lawful to make such an offer.
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Peakstone exclusive advisor to Hunter Douglas

July, 2025. Peakstone advised Hunter Douglas on the acquisition.

Aaron Sharabaika Joins Peakstone as Managing Director

June, 2025. Aaron Sharabaika is a Managing Director of The Peakstone Group and he brings over 15 years of experience to founders, owners, and C-suite leaders of family-owned and founder-led businesses. Aaron has completed over 70 M&A and capital raising transactions across a variety of industries. Before joining Peakstone, Aaron was on Baird’s global investment banking team and later founded his own professional services firm where he originated and executed numerous transactions. Prior to Baird, Aaron was an investment banker at Sterne Agee (acquired by Stifel).

Aaron began his career in public accounting with KPMG in Chicago. He holds a master’s degree in accounting from University of Illinois at Urbana-Champaign and a bachelor’s degree in finance from Loyola University Chicago.

Aaron currently serves on the board of directors as Treasurer of Lupus Foundation of America, Georgia Chapter, and as Treasurer of Big Brothers Big Sisters of New Hampshire. He also currently serves as an advisory board member of multiple privately-owned companies. In his free time, Aaron owns a farm in southern New Hampshire and enjoys working on it with his wife and three children raising grass-fed longhorn cattle and other free-range livestock.

About Peakstone

Peakstone is a leading investment bank that specializes in mergers and acquisitions advisory and capital raising for middle market clients. The team is comprised of senior investment banking professionals who have decades of experience and have executed hundreds of transactions totaling billions of dollars. For additional information, visit www.peakstone.com.

 

Securities offered through Peakstone Securities, LLC member FINRA/SIPC. All investments involve market risks, including the loss of principal. Past performance does not guarantee future results. Information on this website is not intended to be a recommendation or specific investment advice. Securities or companies mentioned are for illustrative purposes only and are not a recommendation to buy or sell. Investment decisions should be made based on an individual’s objectives and risk tolerance. Information on this website is intended for US residents only and does not constitute an offer to buy or sell securities in any jurisdiction to whom it is not lawful to make such an offer. Peakstone Securities, LLC is registered as a broker-dealer in the following states: Click here to see licensed states. The information provided does not constitute an offer to buy or sell in any jurisdiction to whom it is not lawful to make such an offer.
Business Continuity Plan

Peakstone Advises Thillens on Sale to Edessa Growth Partners

May, 2025. Peakstone Group, a leading middle market investment bank, served as the exclusive financial advisor to Thillens in connection with its recently completed sale to Edessa Growth Partners, a search fund led by Resit Melik, who will step in as the new CEO of the company.

Mr. Melik said, “This marks the culmination of a journey that started nearly two years ago, driven by a childhood dream to build and lead a business. After screening thousands of opportunities and evaluating hundreds, I couldn’t be prouder to acquire a company with the legacy, reputation, and grit of Thillens.”

“Founded nearly 100 years ago, Thillens is a known and trusted brand that has reinvented itself multiple times, delivering mission-critical cash logistics and exceptional customer service. As I’ve gotten to know the team and our clients, I’ve been overwhelmed in the best way by the talent, professionalism, and deep pride that run through this organization. This is not just a transaction. It’s a long-term commitment to the people, to the clients and to the brand, and to building something enduring.”

Darren Norkett, CEO of Thillens, said, “Navigating the sale of Thillens was a complex process, and having the Peakstone team, led by Steve Royko, made all the difference. Their expertise and unwavering dedication ensured that every aspect of the transaction was handled with precision and care. From structuring the deal to guiding us through negotiations, Peakstone demonstrated an exceptional level of professionalism and knowledge. Their ability to anticipate challenges and proactively address them gave us confidence at every stage.”

Founded in 1932 in Chicago, Thillens is the Midwest’s largest independent armored service provider. Thillens provides a highly differentiated combination of logistics offerings, technological innovations, and attentive customer service that are difficult for competitors to replicate. The Company primarily serves customers in the financial services, gaming, and retail industries with strong growth opportunities in adjacent markets due to the unique business model of Thillens. The Company currently operates 7 branches in Illinois and Wisconsin, with a further two scheduled to open in  2025.

 

Terms of the transaction were not disclosed.

For additional information, please contact:

Alex Fridman, Managing Partner, 312-346-7303, alex@peakstone.com

Steve Royko, Managing Director, 608-236-4490, sroyko@peakstone.com

 

About Peakstone

Peakstone is a leading investment bank that specializes in mergers and acquisitions, advisory, and capital raising for middle market clients. Our team is comprised of senior investment banking professionals who have decades of experience and have executed hundreds of transactions totaling billions of dollars. For additional information, visit www.peakstone.com. To receive investment and proprietary acquisition opportunities, please register at www.peakzone.com.

 

Securities offered through Peakstone Securities, LLC member FINRA/SIPC. All investments involve market risks, including the loss of principal. Past performance does not guarantee future results. Information on this website is not intended to be a recommendation or specific investment advice. Securities or companies mentioned are for illustrative purposes only and are not a recommendation to buy or sell. Investment decisions should be made based on an individual’s objectives and risk tolerance. Information on this website is intended for US residents only and does not constitute an offer to buy or sell securities in any jurisdiction to whom it is not lawful to make such an offer. Peakstone Securities, LLC is registered as a broker-dealer in the following states: Click here to see licensed states. The information provided does not constitute an offer to buy or sell in any jurisdiction to whom it is not lawful to make such an offer.
Business Continuity Plan

Peakstone Advises Northwest Packaging Inc. on Sale to Schwarz Partners

May, 2025. Peakstone served as exclusive M&A advisor to Northwest Packaging Inc. in connection with its sale to Schwarz Partners and its operating business, The Royal Group (TRG).

Northwest Packaging, headquartered in St. Paul, Minnesota, is a manufacturer of custom packaging solutions, specializing in box manufacturing for a variety of industries, including retail, e-commerce, healthcare, and industrial. Northwest Packaging has built a strong reputation for producing high-quality, sustainable packaging products tailored to the specific needs of its customers.

Schwarz Partners operates a nationwide portfolio of businesses across the packaging, paper, logistics, and recycling industries, producing approximately 6% of the U.S. corrugated goods market. The Royal Group, a subsidiary of Schwarz Partners, is one of the largest independent manufacturers of corrugated boxes and retail displays in the U.S.

Northwest Packaging’s President, Steve Durand, commented, “For many years, Northwest Packaging has been committed to providing our customers with exceptional, high-quality packaging solutions that meet their evolving needs. Partnering with The Royal Group will allow us to leverage their extensive resources and expertise to best serve our customers by expanding our capabilities and continuing to innovate in the packaging industry.”

Mr. Durand further commented, “We engaged Peakstone to find a partner that could build on our growth, while preserving the family-oriented culture we’ve worked hard to develop. Peakstone delivered on all fronts. We believe that Schwarz Partners is the ideal partner to support our vision and help us reach new heights.”

Terms of the transaction were not disclosed.

For additional information, please contact:

Robert Meyer, Managing Director, rmeyer@peakstone.com

Nick Clementi, Managing Director, nclementi@peakstone.com

 

About Peakstone

Peakstone is a leading investment bank that specializes in mergers and acquisitions, advisory, and capital raising for middle market clients. Our team is comprised of senior investment banking professionals who have decades of experience and have executed hundreds of transactions totaling billions of dollars. For additional information, visit www.peakstone.com. To receive investment and proprietary acquisition opportunities, please register at www.peakzone.com.

 

Securities offered through Peakstone Securities, LLC member FINRA/SIPC. All investments involve market risks, including the loss of principal. Past performance does not guarantee future results. Information on this website is not intended to be a recommendation or specific investment advice. Securities or companies mentioned are for illustrative purposes only and are not a recommendation to buy or sell. Investment decisions should be made based on an individual’s objectives and risk tolerance. Information on this website is intended for US residents only and does not constitute an offer to buy or sell securities in any jurisdiction to whom it is not lawful to make such an offer. Peakstone Securities, LLC is registered as a broker-dealer in the following states: Click here to see licensed states. The information provided does not constitute an offer to buy or sell in any jurisdiction to whom it is not lawful to make such an offer.
Business Continuity Plan

Peakstone Advises IRMCO on Sale to FUCHS Lubricants

April, 2025. Peakstone served as exclusive M&A advisor to IRMCO in connection with its sale to FUCHS Lubricants, the U.S. subsidiary of Germany based FUCHS Group (FPE:XETR).

International Refining & Manufacturing Co. (“IRMCO”), based in Evanston, Illinois, is a manufacturer of high performing water based metal-forming and tube-bending lubricants for demanding manufacturing processes. IRMCO is a family-run company founded in 1914 with an international distribution footprint.

IRMCO’s CEO, Jeff Jeffery, commented, “For decades, IRMCO has grown and adapted to the ever-changing demands of the manufacturing markets, and we have always met and exceeded our customer’s standards through our advanced lubricant technologies. Integrating with FUCHS will further our reach of sustainable lubricant products for the metal fabrication end markets through the global FUCHS network.  We engaged Peakstone to find a partner that could build on the products, technology, and end markets served, while preserving the culture which we’ve worked hard to develop.  We believe that IRMCO aligns well with FUCH’s strategy to enhance its product technologies and provide customers with superior lubrication solutions.”

FUCHS America CEO, Keith Brewer, noted “At FUCHS, we are focused on improving the reliability, productivity, and profitability of our customer’s operations through product and process optimization. The acquisition of IRMCO will further reinforce our position as leading lubrication solutions provider to the industrial segment.”

Terms of the transaction were not disclosed.

For additional information, please contact:

Mark Horita, Managing Director, mhorita@peakstone.com

Andrew Savarie, Managing Director, asavarie@peakstone.com

Michael Dobin, Associate, mdobin@peakstone.com

 

About Peakstone

Peakstone is a leading investment bank that specializes in mergers and acquisitions, advisory, and capital raising for middle market clients. Our team is comprised of senior investment banking professionals who have decades of experience and have executed hundreds of transactions totaling billions of dollars. For additional information, visit www.peakstone.com. To receive investment and proprietary acquisition opportunities, please register at www.peakzone.com.

 

Securities offered through Peakstone Securities, LLC member FINRA/SIPC. All investments involve market risks, including the loss of principal. Past performance does not guarantee future results. Information on this website is not intended to be a recommendation or specific investment advice. Securities or companies mentioned are for illustrative purposes only and are not a recommendation to buy or sell. Investment decisions should be made based on an individual’s objectives and risk tolerance. Information on this website is intended for US residents only and does not constitute an offer to buy or sell securities in any jurisdiction to whom it is not lawful to make such an offer. Peakstone Securities, LLC is registered as a broker-dealer in the following states: Click here to see licensed states. The information provided does not constitute an offer to buy or sell in any jurisdiction to whom it is not lawful to make such an offer.
Business Continuity Plan

Peakstone Advises Kalera on Sale to 80 Acres

April, 2025. Peakstone served as exclusive M&A advisor to Lactuca Holdings, LLC dba Kalera Inc.  (“Kalera”), a portfolio company of Sandton Capital Partners (“Sandton”), in connection with its sale to 80 Acres Urban Agriculture, Inc. (“80 Acres”).

Founded in 2010 and based in Aurora, Colorado, Kalera is a leading vertical farming company with three facilities strategically located in key geographic regions across the US. Kalera utilizes its proprietary technology, including plant and seed science, to sustainably grow local, delicious, nutrient-rich, pesticide-free, non-GMO leafy greens and microgreens year-round. Kalera is best known for its wide selection of microgreens and leafy greens, along with a “first-to-market” retail microgreens kit. Furthermore, Kalera has long-standing relationships with blue-chip customers in both the foodservice and retail channels.

Sandton is a New York-based firm that specializes in private debt and equity transactions for special situations in the middle market.

80 Acres is a vertical farming leader based in Hamilton, Ohio and operates indoor farms built with world-class technology and analytics by its Dutch-Israeli-American subsidiary Infinite Acres®. Using 100% renewable electricity and 95% less water per pound of produce, the company’s farms deliver pesticide-free, longer-lasting harvests while reducing food waste. 80 Acres’ branded salads, salad kits, herbs, microgreens, and tomatoes are available at over 1,500 retailers and restaurants across the US.

Terms of the transaction were not disclosed.

For additional information, please contact:

Eric Dziedzic, Managing Director, 312-346-7314, eric@peakstone.com

Dean Marshall, Managing Director, 412-506-0910, dmarshall@peakstone.com

 

About Peakstone

Peakstone is a leading investment bank that specializes in mergers and acquisitions, advisory, and capital raising for middle market clients. Our team is comprised of senior investment banking professionals who have decades of experience and have executed hundreds of transactions totaling billions of dollars. For additional information, visit www.peakstone.com. To receive investment and proprietary acquisition opportunities, please register at www.peakzone.com.

 

Securities offered through Peakstone Securities, LLC member FINRA/SIPC. All investments involve market risks, including the loss of principal. Past performance does not guarantee future results. Information on this website is not intended to be a recommendation or specific investment advice. Securities or companies mentioned are for illustrative purposes only and are not a recommendation to buy or sell. Investment decisions should be made based on an individual’s objectives and risk tolerance. Information on this website is intended for US residents only and does not constitute an offer to buy or sell securities in any jurisdiction to whom it is not lawful to make such an offer. Peakstone Securities, LLC is registered as a broker-dealer in the following states: Click here to see licensed states. The information provided does not constitute an offer to buy or sell in any jurisdiction to whom it is not lawful to make such an offer.
Business Continuity Plan

Bob Dekker Joins Peakstone as Managing Director

April, 2025. Bob Dekker has joined Peakstone Group as a Managing Director in Chicago where he will be responsible for transaction origination and execution with a primary focus on the Food & Beverage space.

Bob has nearly 35 years of investment banking experience and has completed a broad range of M&A and capital raising transactions throughout his career.

Prior to joining Peakstone, Bob spent six years as Managing Director and Head of Food and Beverage Investment Banking for Balmoral Advisors.  Before joining Balmoral, Bob spent eight years with a boutique investment banking firm he co-founded, Insight Advisory Partners, that was focused exclusively on working with emerging growth companies in the food and beverage industry. Previously, Bob’s investment banking career spanned working with large regional and international firms including Prescott, Ball & Turben, The Chicago Corporation and ABN-AMRO, where he oversaw that firm’s private placement activities across North America. Bob also co-founded a successful real estate development company in Chicago during which time he was active on the Board of the Home Builders Association of Chicago and served two terms as its President.  Bob has been involved in a number of non-profit activities including seven years acting as a Super Mentor for the Good Food Business Accelerator where he coached founders of earlier stage F&B companies in the Chicagoland area.  He is also co-head of the Association for Corporate Growth’s food and beverage committee.

Bob is originally from Chagrin Falls, Ohio and has lived in the Chicagoland area for over 30 years.  He is a graduate of Denison University with a BA in Economics.  Bob holds the FINRA Series 62, 63 and 79 securities designations and is also licensed as an Illinois Real Estate Managing Broker.

About Peakstone

Peakstone is a leading investment bank that specializes in mergers and acquisitions advisory and capital raising for middle market clients. The team is comprised of senior investment banking professionals who have decades of experience and have executed hundreds of transactions totaling billions of dollars. For additional information, visit www.peakstone.com.

 

Securities offered through Peakstone Securities, LLC member FINRA/SIPC. All investments involve market risks, including the loss of principal. Past performance does not guarantee future results. Information on this website is not intended to be a recommendation or specific investment advice. Securities or companies mentioned are for illustrative purposes only and are not a recommendation to buy or sell. Investment decisions should be made based on an individual’s objectives and risk tolerance. Information on this website is intended for US residents only and does not constitute an offer to buy or sell securities in any jurisdiction to whom it is not lawful to make such an offer. Peakstone Securities, LLC is registered as a broker-dealer in the following states: Click here to see licensed states. The information provided does not constitute an offer to buy or sell in any jurisdiction to whom it is not lawful to make such an offer.
Business Continuity Plan