Closed Deal Announcement – Peakstone advises on Automotive Finance & Insurance acquisition

February, 2017. Peakstone served as advisor to Kinderhook Industries on its December 2016 acquisition of NitroFill. Headquartered in Pompano Beach, FL, NitroFill is a leading developer and marketer of patented nitrogen generation and inflation systems for passenger and truck tires as well as related tire warranties, customer benefit programs and reseller customer retention programs. NitroFill’s flagship product offering is a Tire Protection Plan program, sold primarily to and through new car dealerships, leveraging the Company’s patented nitrogen tire inflation product and unique product warranty, which includes: tire repair and replacement coverage, roadside assistance and other benefits, a comprehensive CRM solution to increase customer traffic and tire and service sales while providing significant value to end user consumers.

Peakstone has built a leading Automotive Finance & Insurance industry practice led by Brad Curtis, Managing Director.  Brad has advised on many Automotive Finance & Insurance industry transactions for clients including agencies, third-party administrators, and specialty product companies.

Terms of the transaction were not disclosed.

About Peakstone

The Peakstone Group 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.

Stuart J. Lissner joins The Peakstone Group as Managing Director

February, 2017. Stuart J. Lissner is a Managing Director at Peakstone Group and will focus on deal origination and execution in a number of areas including power, energy, oil and gas, manufacturing, transportation and other industries.  Stuart also has expertise in distressed M&A transactions.

Stuart has over 20 years of experience as a private equity sponsor, distressed debt investor, and workout professional.  As the co-founder and managing partner for Apex Fundamental Partners, a lower middle market private equity sponsor, Stuart focuses on managing Apex’s energy platform companies and on finding add-on opportunities, as well as new platform investments.

Stuart began his asset management career as a senior asset manager and workout professional for PPM America, Inc., a $100 billion global investment firm. Stuart was a managing director and workout professional in the special investments group that invested PPM’s $1.3 billion of fund capital in the distressed debt, high yield bonds, leveraged bank loans, and private equity in over 100 different companies across most industry sectors. Some of these specific industries and sub-industries included: energy (oilfield services, oil exploration and production, merchant energy, back-up power), metals, recreational vehicles, pulp and paper, department stores, supermarkets, plastics, rental companies, telecom, packaging, coupon processing, agriculture, food, gaming, and healthcare.

Stuart also partnered with Lissner Associates Ltd., his family’s management consulting firm, to provide turnaround consulting services to underperforming businesses.

Stuart has negotiated, structured and/or restructured numerous transactions including:
– The acquisition of a $17 million oilfield services company.

– The restructuring, capital raise and acquisition of an oil and gas exploration and production company, raising over $200 million in new debt financing to facilitate the transaction.

– The restructuring and acquisition of a non-performing $500+ million recreational vehicle business with a diverse and contentious group of debt and equity holders.

Stuart is passionate about his role as board member of Children’s Oncology Services, Inc. (AKA “Camp One Step”), which offers camp experiences and other excursion programs that allow children with cancer to just be kids.

Stuart is a CPA and an attorney with a Bachelor of Science in Management from Tulane University, A.B. Freeman School of Business and a Juris Doctor from Loyola University of Chicago School of Law.

About Peakstone
The Peakstone Group 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: Consumer & Retail Industry M&A Update- January, 2017

January, 2017.

For 2016, strategic buyers accounted for 85% of Consumer and Retail M&A transactions. During 2015, strategic buyers accounted for 90% of the transactions.

Many Consumer and Retail categories continue to outperform the S&P 500.

Select recent notable publicly announced M&A transactions:

– Symantec Corporation signed a definitive agreement to acquire LifeLock, Inc. for approximately $2.3 billion.

– Samsung Electronics America, Inc. entered into a definitive agreement to acquire Harman International Industries, Incorporated for $8 billion in cash.

– Bain Capital L.P. and Bow Street, LLC entered into a definitive agreement to acquire Blue Nile Inc. for approximately $490 million.

– American Axle & Manufacturing Holdings Inc. entered into a definitive agreement to acquire Metaldyne Performance Group Inc. for approximately $1.5 billion.

– Polaris Industries Inc. entered into an agreement to acquire Transamerican Auto Parts Company, LLC for approximately $670 million.

– Bass Pro Group, LLC entered into a definitive agreement to acquire Cabela’s Incorporated for $4.6 billion.

– Eldorado Resorts, Inc. entered into a definitive merger agreement to acquire Isle of Capri Casinos, Inc. for approximately $990 million.

Closed Deal Announcement – Peakstone Advises on Sale of SaaS Marketing Services Company

January, 2017.  Peakstone served as exclusive M&A advisor to Persio on its sale to Clutch.  Persio is an intelligent mobile marketing platform that uses behavioral and demographic data to drive revenue, acquisition and retention for SMS, app and web.  Designed simply and with an intuitive UI, the cloud-based solution efficiently manages the mobile campaign process from start to finish. Marketers can create content, identify and target customer segments, deploy promotions, run tests and analyze results for multiple offer types including rich content, gamification, offers and discounts.

Clutch’s Integrated Customer Management platform delivers customer intelligence and personalized engagements empowering B2C brands to identify, understand and motivate each segment of their customer base. Its advanced marketing platform integrates customer data across point-of-sale, ecommerce, mobile and social channels, delivering personalized engagements and increasing the value of each customer.

Peakstone has established a leading e-commerce, technology and business services industry practice, advising several SaaS, e-commerce and tech-enabled business service clients recently including Technomic, itemMaster, RealTruck.com, eComfort.com, Ashford.com, and UPF Services among others.

Terms of the transaction were not disclosed.
For additional information about this transaction, contact:
Stephen Sleigh, Managing Director, 312-346-7318, ssleigh@peakstone.com
Cathy Jaros, Managing Director, 312-262-7735, cjaros@peakstone.com
Nicholas Patrick, Managing Director, 312-346-7335, npatrick@peakstone.com

About Peakstone

The Peakstone Group 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.

Closed Deal Announcement – Peakstone Serves as Strategic Advisor to itemMaster

January, 2017. Peakstone served as strategic advisor to itemMaster (“iM” or the “Company”) in connection with its capital raising efforts.  ItemMaster is a cloud-based, on-demand Content as a Service (CaaS) platform that enables brand owners to deliver Certified Brand Content™ seamlessly across today’s digital ecosystem.

“Peakstone provided valuable strategic support as we prepared our outreach for our capital raising efforts.  The Peakstone team helped us think through telling a complex story to the investment community and the financial modeling necessary to support our story,” said Andrew Parkinson, Chief financial Officer of itemMaster.

Terms of the transaction were not disclosed.
For additional information please contact the following:
Cathy Jaros, Managing Director, 312-262-7735, cjaros@peakstone.com
Alex Fridman, Managing Director, 312-346-7303, alex@peakstone.com

About Peakstone

The Peakstone Group 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 or contact Alex Fridman, alex@peakstone.com or 312-204-7300.

 

Industry Update: Restaurant Update: Spotlight on Fast Casual – January, 2017

January, 2017.

For announced transactions, restaurant multiples saw a modest decrease from 10.1x EBITDA and 1.03x revenue in 2015 to 9.6x EBITDA and 0.9x revenue in 2016.

Recent notable publicly announced M&A transactions:

– Peakstone advises PepperJax Grill on sale of company to TA Associates for an undisclosed amount.

– Cortland Capital Market Services LLC entered in an agreement to acquire Garden Fresh Restaurant Corp. for approximately $98 million.

– REINS international Inc. agreed to acquire Reins International (USA) Co Ltd for approximately $87 million.

– BDT Capital Partners made a significant investment in Lou Malnati’s for an undisclosed sum. The deal is expected to close in early October.

– Roark Capital Group acquired majority stake in Jimmy John’s Franchise, LLC for an undisclosed amount.

– The Arlon Group acquired Cicis for an undisclosed amount.

– CenterOak Partners LLC acquired an unknown majority stake in Wetzel’s Pretzels, LLC for an undisclosed amount.

– Cotton Parent, Inc. entered into a definitive agreement to acquire Krispy Kreme Doughnuts, Inc. for approximately $1.3 billion.

Industry Update: Food and Beverage Industry M&A Update – December, 2016

December, 2016.

For year-to-date 2016, total announced transactions of 357 deals are exceeding 2015 record levels. There were 351 transactions during 2015.

For announced transactions, Food and Beverage (“F&B”) multiples saw a modest decrease from 13.4x Enterprise Value to EBITDA to 11.0x.

Many F&B categories continue to outperform the S&P 500.

Notable publicly announced recent M&A transactions:

– Peakstone advises PepperJax Grill on sale of company to TA Associates for an undisclosed amount.

– Peakstone advises Clearbrook Farms on sale of company to Glencoe for an undisclosed amount.

– B&G Foods, Inc. acquired Victoria Fine Foods Holding Company and Victoria Fine Foods, Inc. for approximately $70 million.

– Pilgrim’s Pride Corporation acquired GNP Company for approximately $350 million.

– Mott’s, LLP acquired BAI Brands LLC for approximately $1.7 billion.

– Onex Corporation acquired Moran Foods, LLC from Supervalu, Inc. for approximately $1.4 billion.

– ConAgra Foods acquired Frontera Foods including the Frontera, Red Fork and Salpica brands from the Frontera Hospitality Group for an undisclosed amount.

– B&G Foods North America Inc. acquired ACH Food Companies, Inc., Spices and Seasonings Business for approximately $365 million.

Industry Update: Automotive Industry M&A Update – December, 2016

December, 2016.

For year-to-date 2016, total announced transactions of 52 deals are on pace with 2015 record levels. There were 55 transactions during 2015.

For year-to-date 2016, strategic buyers accounted for 96% of Automotive M&A transactions. During 2015, strategic buyers accounted for 93% of the transactions.

For announced transactions, Automotive multiples saw a modest decrease from 12.3x to 10.5x Enterprise Value to EBITDA in 2015 and 2016, respectively.

Many Automotive categories continue to outperform the S&P 500.

Select recent notable publicly announced M&A transactions:

– American Axle & Manufacturing Holdings Inc. entered into a definitive agreement to acquire Metaldyne Performance Group Inc. for approximately $1.5 billion.

– Polaris Industries Inc. entered into an agreement to acquire Transamerican Auto Parts Company, LLC for approximately $670 million.

– Octavius Corporation entered into a definitive agreement to acquire Grand Design RV from Summit Partners LLP and others for approximately $500 million.

– General Motors Company agreed to acquire Cruise Automation, Inc. from Signia Venture Partners, Spark Capital Partners, LLC, Felicis Ventures and others for approximately $600 million.

– Ningbo Joyson Electronic Corp. entered into a definitive agreement to acquire Key Safety Systems, Inc. from funds managed by FountainVest Partners, Canada Pension Plan Investment Board and Crestview Partners, L.P. for approximately $920 million.

Peakstone Selected as Finalist for M&A Investment Banking Firm of the Year

December, 2016. Peakstone is pleased to announce that we have been selected as a finalist for the 15th Annual M&A Advisor Awards for Investment Banking Firm of the Year.

“Since the inception of the M&A Advisor Awards in 2002, we have been recognizing the leading dealmakers, firms and transactions. And each year we celebrate the creativity, perseverance and ingenuity of our industry’s professionals”, says David Fergusson, President and Co-Chief Executive Officer of The M&A Advisor. “While our industry has undergone significant transformation since our first awards were presented 15 years ago, we are convinced, more than ever before, that M&A is a driving force of the economy. It is truly an honor for our firm to be able to recognize the contribution that the 2016 award finalists have made.”

About The M&A Advisor

The M&A Advisor was founded in 1998 to offer insights and intelligence on M&A activities. Over the past sixteen years, through our research, reporting, publishing, symposiums and awards we have established the world’s premier network of mergers and acquisitions, restructuring and financing professionals. For more information, please visit www.maadvisor.com or contact The M&A Advisor at 718-997-7900.

About Peakstone

The Peakstone Group 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 or contact Alex Fridman, alex@peakstone.com or 312-204-7300.

Industry Update: Packaging Industry M&A Update – November, 2016

November, 2016.

Packaging M&A continues to see strong activity. Year-to-date 2016 transaction volume of 50 deals is just below pace of 2015 levels.

For the year-to-date 2016 period, strategic buyers accounted for 90% of the packaging M&A transactions with financial buyers making up the difference. During 2015, strategic buyers accounted for approximately 80% of the transactions.

Peakstone equally weighted packaging index continues to outperform the S&P 500.

Notable publicly announced 2016 transactions:

‒ Stone Canyon Industries acquired BWAY Parent Company for approximately $2.4 billion

‒ Berry Plastics Group acquired AEP Industries for approximately $769 million.

‒ Packaging Corporation of America acquired Tim-Bar Corporation for approximately $386 million.

‒ Amcor Rigid Plastics acquired Rigid Plastics Blow Molding Operations for approximately $280 million.

‒ Packaging Corporation of America acquired Columbus Container for approximately $100 million.