Industry Update: IT Services M&A Update – November, 2018

November, 2018

In 2018 YTD, strategic buyers accounted for 87% of the IT Services M&A transactions with financial buyers making up the difference; during 2017, strategic buyers accounted for approximately 90% of the transactions.

Select recent notable publicly announced M&A transactions:

– Canada Pension Plan Investment Board acquired GlobalLogic, Inc. for approximately $2.0 billion.

– General Dynamics (NYSE: GD) acquired CSRA Inc. (NYSE: CSRA) for approximately $9.9 billion.

– Silver Lake and P2 Capital Partners, LLC acquired Blackhawk Network Holdings, Inc. (Nasdaq GS:HAWK) for approximately $4.0 billion.

– SS&C Technologies Holdings, Inc. (Nasdaq GS:SSNC) acquired DST Systems, Inc. (NYSE:DST) for approximately $5.8 billion.

Industry Update: Food and Beverage M&A Update – November, 2018

November, 2018

For 2017, total U.S. F&B announced transactions of 495 deals, exceeding 2016 levels of 380. 2018 YTD volume is at 368 transactions: less than the 447 transactions in the same period one year ago.

Select recent notable publicly announced M&A transactions:

– ConAgra acquired Pinnacle Foods for an $10.9 billion.

– Frito Lay acquired Bare Snacks for an undisclosed amount.

– Mondelez International acquired Tate’s Bake Shop for $500 million.

– General Mills acquired Blue Buffalo for $8.3 billion

– Peakstone advises Gourmet Gift Concepts on sale of company to Hickory Farms for an undisclosed amount.

– Keurig acquired Dr Pepper Snapple Group for approximately $18.7 billion.

– Campbell’s acquired Snyder Lance for approximately $6.1 billion.

– Kellogg’s acquired Chicago Bar Company for approximately $600 million.

– Peakstone advises Market Fresh Produce on sale of company to Marquette Capital Partners for an undisclosed amount.

Industry Update: Consumer and Retail M&A Update – November, 2018

November, 2018

For 2018 YTD, strategic buyers accounted for 74% of Consumer and Retail M&A transactions. During 2017, strategic buyers accounted for 65% of the transactions.

Select recent notable publicly announced M&A transactions:

– ARG Holdings acquired Sonic for $2.3 billion.

– Vintage Investment Partners acquired Rent-A-Center for $1.3 billion.

– Marriott Vacations Worldwide Corp. acquired ILG Inc. for about $5.8 billion.

– Tenneco acquired Federal-Mogul for $5.4 billion.

– Peakstone advises Erehwon Mountain Outfitter on sale of company to Camping World Holdings, Inc. (NYSE:CWH) for an undisclosed amount.

– Arby’s Restaurant Group Inc. acquired Buffalo Wild Wings Inc. for approximately $2.9 billion.

– American Axle & Manufacturing Holdings, Inc. (NYSE:AXL) acquired Metaldyne Performance Group Inc. for approximately $3.42 billion.

– BPS Direct, L.L.C. acquired Cabela’s Incorporated (NYSE:CAB) for approximately $8.67 billion.

– Circle K Stores Inc. acquired CST Brands, Inc. (NYSE:CST) for approximately $6.09 billion.

– Rye Parent Corp. acquired Panera Bread Company (NasdaqGS:PNRA) for approximately $7.66 billion.

Industry Update: Automotive M&A Update – November, 2018

November, 2018

For 2018 YTD, strategic buyers accounted for 84% of Automotive M&A transactions. During 2017, strategic buyers accounted for 89% of the transactions.

Select recent notable publicly announced M&A transactions:

– American Axle & Manufacturing Holdings, Inc. (NYSE:AXL) acquired Metaldyne Performance Group Inc. for approximately $3.42 billion.

– Winnebago Industries, Inc. acquired Grand Design RV for approximately $500 million.

– Polaris Industries Inc. (Delaware) acquired TAP Automotive Holdings, LLC for approximately $670 million.

– Thor Industries, Inc. (NYSE:THO) acquired Jayco, Inc. for approximately $580 million.

– Vitro, S.A.B. de C.V. (BMV:VITRO A) acquired Pittsburgh Glass Works LLC for approximately $310 million.

Peakstone Closed Deal Announcement – Logistics Services Company

October, 2018. Peakstone served as exclusive M&A advisor to HA Logistics, Inc. in connection with its sale to SunteckTTS, a Comvest Partners portfolio company.

Founded in 1984, HA Logistics has built an extensive offering of transportation services and solutions for its customers throughout North America. Alan Huttmann will continue as President of HA Logistics.

“We are pleased to be the latest addition to the SunteckTTS organization,” said Huttmann. “This move represents a great opportunity to expand our client service offering and remove obstacles to efficiency by utilizing SunteckTTS’ technology and transportation solutions.”

“Peakstone’s experience professionalism, vision and execution were key for the alignment of the parties involved in this deal. Without Peakstone, getting to the close would have been impossible. Peakstone’s team commitment to excellence and attention to detail made the difference. Thanks to Steve, Tom and team for making it happen!”

SunteckTTS is an industry leader with a base of over 10,000 customers and 32,000 partner carriers.  In 2017, Transport Topics ranked SunteckTTS as the 9th largest freight brokerage firm in the U.S.  Comvest Partners is a private equity firm with $3.4 billion assets under management.

Terms of the transaction were not disclosed.

For additional information please contact the following:

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

Tom Juedes, Managing Director, 847-682-3388, tjuedes@peakstone.com

 

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.

Peakstone Closed Deal Announcement: Branded and Private Label Snack Food Company

October, 2018. Peakstone served as exclusive M&A advisor to Terri Lynn, Inc. in connection with its recent sale to a diversified, multi-national strategic buyer with operations in the U.S.

Terri Lynn is a leading snack food processing and packaging company supplying a wide range of premium nuts, dried fruits and confection products. Terri Lynn sells branded, private label, bulk products and processed ingredients to a variety of customers, including mass retailers, confection & ice cream suppliers and fundraising organizations.

“The Peakstone team worked hard to find a strategic investor for the business that would build upon and leverage the company we’ve built. Peakstone was also a great resource for the family during the process and provided helpful counsel.” said Terri Lynn President Terri L. Schuck.

Terms of the transaction were not disclosed.

The sale of Terri Lynn is the seventh consumer and food transaction that Peakstone has closed in the last 12 months, continuing our leadership in the food, beverage and consumer markets.

For additional information please contact the following:

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

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

 

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.

Peakstone Closed Deal Announcement: Consumer and Home Décor

October, 2018. Peakstone served as exclusive M&A advisor to Protect-a-Bed in connection with its sale to SureFit Home Décor, a portfolio company of Centre Lane Partners. Based in Wheeling, Illinois, Protect-a-Bed is a worldwide leader in bed protection innovation and offers a premium line of bedding and health protection products including mattress protectors and pillow protectors. Protect-A-Bed products are available in 45 countries, found in retail stores and trusted by hotels, assisted living facilities and more.

“SureFit Home Décor is an ideal fit for the Protect-A-Bed brand,” said CEO James Bell. “The company’s focus on strong industry relationships and reputation for excellent customer service will allow us to offer Protect-A-Bed products to many more consumers. SureFit is a leading player in home textiles with some of the strongest brands in the industry. The Protect-A-Bed team looks forward to working with Jeff and his team in their mission to take the company to an exciting new level.” Bell added, “The Peakstone team facilitated an outstanding outcome and worked tirelessly to see the transaction through to its successful conclusion.”

“The Protect-A-Bed brand represents a significant addition to the current portfolio of home textiles products offered in our consumer and hospitality divisions,” said Sure Fit Home Décor CEO Jeffrey Werner. “James’s team has built a tremendous brand and brings a strong passion and expertise in innovation and education to the mattress protection category, and we are very happy to have them on board.”

SureFit Home Décor, headquartered in Alburtis, Pa., markets a wide assortment of home textiles products that include readymade slip covers, fabric covers and protectors, shower curtains and bath accessories, window drapes, decorative pillows, outdoor products, and pet beds and accessories. Its products are marketed under the SureFit, Hookless, Patio Armour, Focus Hospitality and Spencer brand names.

Terms of the transaction were not disclosed.

For additional information please contact the following:

Christian Colucci, Managing Director, 312-346-7349, christian@peakstone.com 

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

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

Jeff Temple, Managing Partner, 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. 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.

Peakstone Publishes Industry Reports

September, 2018. Peakstone has published eleven updated industry reports, which can be accessed through the links below.  We deliver sector knowledge, experience, and relationships to every client.  We welcome a chance to open dialogue with companies in these sectors to exchange information and viewpoints.

Automotive

Consumer & Retail

E-Commerce

Food & Beverage

Industrials & Manufacturing

IT Services

Packaging

Pet

Restaurant

Technology & Software

Transportation & Logistics

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.

Industry Update: Industrials & Manufacturing M&A Update – September, 2018

September, 2018

So far in 2018, strategic buyers accounted for 88% of the Industrials and Manufacturing M&A transactions with financial buyers making up the difference; during 2017, strategic buyers accounted for approximately 90% of the transactions.

Select recent notable publicly announced M&A transactions:

– DWABTEC (NYSE: WAB) acquired a division of General Electric (NYSE: GE) for approximately $11.1 billion.

– Aviall, Inc. – a Boeing Company – acquired KLX Inc. (NasdaqGS: KLXI) for approximately $4.4 billion.

– Tenneco Inc. (NYSE: TEN) acquired Federal Mogul (NYSE: FDML) for approximately $5.4 billion.

– Knauf Group acquired USG (NYSE: USG) for approximately $6.48 billion.

Industry Update: E-Commerce M&A Update – September, 2018

September, 2018

In YTD 2018, strategic buyers accounted for 89% of the E-Commerce M&A transactions with financial buyers making up the difference; during 2017, strategic buyers accounted for approximately 92% of the transactions.

Select recent notable publicly announced M&A transactions:

– Direct Digital acquired Healthy Directions for approximately $71 million.

– Albertsons Companies acquired Plated for approximately $300 million.

– QVC Group (NasdaqGS:QVCA) acquired HSN, Inc. (NasdaqGS:HSNI) for approximately $1.83 billion.

– Bain Capital Private Equity, LP; Bow Street, LLC acquired Blue Nile, Inc. for approximately $500 million.