Update: Healthcare M&A Update – March, 2024

March, 2024

For 2023, the median transaction value in healthcare was $46 million. For 2023, strategic buyers accounted for 95% of transactions.

Select recent notable publicly announced M&A transactions:

–Bristol-Myers Squibb Company announced its acquisition of RayzeBio for $4.2 billion in December 2023.

–Concentra Biosciences announced its acquisition of Reneo Pharmaceuticals for $62 million in December 2023.

–Bristol-Myers Squibb Company announced its acquisition of Karuna Therapeutics for $14.0 billion in December 2023.

–Cosette Pharmaceuticals closed its acquisition of Worldwide Rights of Vyleesifor $171 million in December 2023.

–H.I.G. Capital announced its acquisition of Zimmer Biomet Spine for $375 million in December 2023.

Update: Food and Beverage M&A Update – March, 2024

March, 2024

For 2023, the median transaction value in Food and Beverage was $29 million. For 2023, strategic buyers accounted for 91% of transactions.

Select recent notable publicly announced M&A transactions:

–Chobani closed its acquisition of La Colombe Torrefaction for $900 million in December 2023.

–The Duckhorn Portfolio announced its acquisition of Sonoma-Cutrer Vineyards for $391 million in November 2023.

–Seneca Foods Corporation closed its acquisition of B&G Foods (Shelf stable vegetable product line) for $56 million in November 2023.

–Treasury Wine Estates Limited closed its acquisition of Daou Vineyards for $1.0 billion in October 2023.

–Nature’s Touch Frozen Foods closed its acquisition of Sunrise Growers (Certain assets) for $141 million in October 2023.

Update: Digital Commerce M&A Update – March, 2024

March, 2024

For 2023, the median transaction value in Digital Commerce was $31 million. For 2023, strategic buyers accounted for 90% of transactions.

Select recent notable publicly announced M&A transactions:

–Conn’s closed its acquisition of W.S. Badcock Corporation for $74 million in December 2023.

–F9 Investments announced its acquisition of LL Flooring Holdings for $321 million in November 2023.

–Basic Resources announced its acquisition of Warners/Olga/True & Cofor $170 million in November 2023.

–Live Ventures Incorporated announced its acquisition of LL Flooring Holdings for $421 million in October 2023.

–LV Holding closed its acquisition of TLA Acquisition for $13 million in October 2023.

Update: Consumer and Retail M&A Update – March, 2024

March, 2024

For 2023, the median transaction value in Consumer & Retail was $20 million. For 2023, strategic buyers accounted for 93% of transactions.

Select recent notable publicly announced M&A transactions:

–Conn’s closed its acquisition of W.S. Badcock Corporation for $74 million in December 2023.

–EV Electra announced its acquisition of Draz Canna for $981 million in November 2023.

–Blackstone Management Partners announced its acquisition of Rover Group for $2.4 billion in November 2023.

–Sterling Infrastructure closed its acquisition of Professional Plumbers Group for $50 million in November 2023.

–F9 Investments announced its acquisition of LL Flooring Holdings for $321 million in November 2023.

 

Update: Automotive M&A Update – March, 2024

March, 2024

For 2023, the median transaction value in Automotive was $49 million. For 2023, the strategic buyers accounted for 96% of transactions.

Select recent notable publicly announced M&A transactions:

–Salt Creek Capital II closed its acquisition of Vantage Vehicle International at an undisclosed value in December 2023.

–Penske Automotive Group announced its acquisition of Don Allen Auto Service for $12 million in December 2023.

–Transtar Holding Company closed its acquisition of Arch Auto Parts at an undisclosed value in December 2023.

–Mcgovern Auto Group closed its acquisition of Natick Auto Sales at an undisclosed value in November 2023.

–Evil Empire Designs closed its acquisition of Jade Affiliated for $1 million in October 2023.

 

Peakstone exclusive advisor to SunPro

February 2024.  Peakstone served as exclusive financial advisor to SunPro.

Peakstone Named #2 Overall Lower Middle Market Investment Bank

February 2024. We are pleased to announce that Peakstone has been named the #2 lower middle market investment bank. Peakstone has consistently ranked as a top investment bank in Axial’s league tables. Thanks to all of our clients and associates that made this possible. For the news release and additional information, please  CLICK HERE.

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.

Peakstone Advises Progressive International on Sale to Evriholder

January, 2024. Peakstone served as exclusive M&A advisor to Progressive International in connection with its sale to Evriholder Products.

Progressive International is an innovative provider of kitchen gadgets and food storage based in Kent, WA. Established in 1973, Progressive has an excellent reputation for innovative, high-quality kitchen products that make consumers’ lives easier. Progressive sells to department stores, specialty houseware chains, independent gourmet and cookware retailers, national and regional mass merchants, mail order companies, and online retailers.

Evriholder Products LLC, established in Brea, California in 1995 is an innovator specializing in a wide variety of household categories including kitchen, produce, baking, barware, bath and beauty, cleaning, pet, storage & organization, toy, seasonal, and more. Evriholder is an impulse product industry leader with products in nearly all retail channels including specialty, mass merchants, supermarkets, drug stores, hardware stores, club, catalog, online, and more. Evriholder also has a strong international foothold with markets in Europe, Australia, and Latin America.

Keith Fox, Chairman of Progressive International said “Peakstone added significant value at every step of the transaction. The team worked extensively to prepare Progressive for the sale process. Peakstone positioned our business extremely well in the market and executed a strong and highly organized process from start to finish that delivered an excellent outcome for our shareholders.”

Terms of the transaction were not disclosed.

For additional information please contact:

Christian Colucci, Managing Director, christian@peakstone.com

Mike Taylor, Managing Director, mtaylor@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.

Peakstone Advises Components Express on Sale to 2Connect

November, 2023. Peakstone served as exclusive M&A advisor to Components Express Inc. in connection with its sale to 2Connect, a portfolio company of Rivean Capital B.V.

Founded in 1992 by Ray and John Berst, Components Express Inc. (“CEI”) is recognized worldwide as an industry leading manufacturer of high speed cable assemblies for the Machine Vision, Industrial Automation, and IIOT/Industry 4.0 industries. CEI produces mission critical cable assemblies for a variety of end markets including medical, industrial, robotic, military, aerospace, telecom, and automotive.

Ray Berst, founder of CEI commented, “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 CEI aligns well with 2Connect’s strategy to enhance its product technology and expand its geographic presence.”

Clay Webber, formerly CEI’s COO now assuming the position of CEO & President, noted “Peakstone conducted a very thorough process and with their advice, patience, and hard work we were able to complete a transaction with great teams at 2Connect as well as Rivean Capital.”

Terms of the transaction were not disclosed.For additional information please contact:

Mark Horita, Managing Director, 312-346-7308, mhorita@peakstone.com

Jeff Temple, Managing Director, 312-346-7301, jtemple@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.

Peakstone Advises Watson Metal Masters Inc. in connection with its sale to American Products LLC

October, 2023. Peakstone served as exclusive M&A advisor to Watson Metal Masters Inc. (“Watson”) in connection with its sale to American Products LLC (“Amprod”), a Koch Enterprises portfolio company. (Press release found here)

Watson, based in Springfield, Missouri, is a leading manufacturer of stainless-steel tanks. Watson utilizes innovative proprietary technology to fabricate and repair stainless steel tanks and vessels in a highly automated manufacturing facility. The Company provides tanks and ASME pressure vessels for the chemical, cosmetic, energy, food & beverage, and pharmaceutical industries.

Amprod is an industry leader in delivering engineered enclosures, shelters, and cabinets for the telecommunications (fiber, wireline, wireless), data storage, and electrical utilities industries. It designs and manufactures specialized equipment for various end markets including telecommunications and food and metal processing.

Bill Schahuber, President of Watson said, “Our newly formed partnership with Amprod positions Watson for continued success as we look forward to the next stage of growth.  Peakstone’s unwavering commitment to our Company’s goals and objectives ensured that we found the best possible partner that is very focused on further enhancing our well-established, market leading position in the industry.”

Terms of the transaction were not disclosed.For additional information please contact:

Eric Dziedzic, Managing Director, eric@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.