Closed Deal Announcement – Peakstone Advises Technomic on Sale to Winsight

September, 2015.  Peakstone served as exclusive M&A advisor to Technomic Inc. on its sale to Winsight, LLC, formerly known as CSP Business Media.  Technomic is the leading provider of primary and secondary market information and advisory services to the food industry.  Technomic was acquired from its founder, Ron Paul, who spent much of the last 50 years establishing the business as the “go-to” source for food and foodservice industry insights and strategic advice.

“The acquisition of Technomic represents an important step in Winsight’s growth strategy by providing our customers and audiences access to the most credible source of food industry market intelligence,” said Mike Wood, Chief Executive Officer of Winsight. “Winsight’s industry leading print and digital assets, along with its world class events, will act as new platforms from which to broadcast Technomic’s insights.  This is a big win for customers of both businesses as we are now the single source provider of the best content, media platforms, analysis, education, and in-person events across the industries we serve.  Peakstone was essential to completing this transaction, and their team did outstanding work facilitating the transaction to a successful close.”

Technomic’s founder, CEO, and President, Ron Paul, will leave the business to spend more time with family and to pursue personal interests, while the firm’s Executive Vice Presidents, Gary Karp, Bob Goldin, and Darren Tristano, will continue on in their respective roles.  “After many years in this industry, I believe now is the right time to pursue other interests.  I couldn’t be prouder of our employees or their work, and I am confident Winsight will continue building the Technomic brand and supporting our great talent.”  Karp, Goldin, and Tristano echoed Paul’s sentiment in a joint statement. “We are excited for Technomic to join Winsight in delivering critical information and analysis to the marketplace.  Winsight’s growth plan over the next five years presents great opportunities for our employees and expansion opportunities for our business.  Now more than ever, we think the time is right to make investments in the business to expand our offerings so we can help our clients be more successful in their pursuits.  As part of Winsight, we can do that.  The Peakstone team was invaluable to the sale process. They executed on a well thought out strategy to sell Technomic, provided great advice throughout, and guided the transaction to closing efficiently and smoothly.”

Terms of the transaction were not disclosed.

For additional information about this transaction, contact:
Cathy Jaros, Managing Director, 312-262-7735, cjaros@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 Advises Glen Oak on Sale to Menzner Lumber & Supply Co.

January, 2016. Glen Oak Lumber & Milling has sold its Kentucky assets and facility to Menzner Lumber & Supply Co., a Marathon, Wisconsin company.

Menzner is a fourth generation family-owned company with operations in Wisconsin, Mississippi, and South Carolina and 350 employees. Menzner Hardwoods’ cabinet and molding products are sold through retailers and dealers throughout the U.S. The acquisition of Glen Oak’s Kentucky business will add strategic production assets and 90 talented employees to Menzner’s operations.

“Steve and the Peakstone team were very thorough and diligent in maximizing the number of potential buyers for our Kentucky operations. They applied a great deal of expertise and resources to bring multiple parties to the table.” said Tom Talbot, owner of Glen Oak.

The transaction was the first of two completed by The Peakstone Group in 2015 in its role as exclusive M&A advisor to Glen Oak. Terms of the transaction were not disclosed.

For additional information about this transaction, contact:
Steve Royko, Managing Director, 608-236-4490, sroyko@peakstone.com

About Peakstone

Peakstone is an investment bank that specializes in mergers and acquisitions advisory and capital raising for middle market clients.  The Peakstone 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, please visit our website, www.peakstone.com.

Closed Deal Announcement – Peakstone Serves as Exclusive Financial Advisor to Hazen Final Mile on its Sale to TransForce, Inc.

August, 2015.  Peakstone served as exclusive financial advisor to Hazen Final Mile on its sale to Dynamex, a division of TransForce, Inc.  Headquartered in Taylor, Michigan, Hazen Final Mile is a rapidly growing white glove delivery business serving over 20 of the largest metropolitan areas in the United States.  The combined business will operate in over 70 markets.

“Our acquisition by TransForce marks an important milestone for our company,” said Hazen Final Mile President Rick Palmer.  “This is a perfect fit for us.”

“Peakstone has been a tremendous resource for Hazen,” continued Mr. Palmer.  “We were approached by a strategic buyer and the Peakstone team provided great support to complete the transaction.”

Terms of the transaction were not disclosed.

For additional information about this transaction, contact:
Jeff Temple, Managing Director, jtemple@peakstone.com, 312-346-7301

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: Restaurant M&A – August, 2015

August, 2015

For restaurant M&A year-to-date 2015, strategic buyers accounted for 75% of restaurant M&A transactions. During 2014, strategic buyers accounted for just over 80% of the transactions.

For announced transactions (albeit a limited sample size), restaurant multiples saw a modest increase from 10.1x EBITDA and 0.9x revenue in 2014 to 11.1x EBITDA and 1.2x revenue year-to-date 2015.

Peakstone Fast Casual and Coffee indices continue to outperform other restaurant categories as well as the S&P 500.

Notable publicly announced 2015 M&A transactions:
– Brinker International entered into a definitive agreement to acquire Pepper Dining for approximately $106 million.
– McCormick & Co. signed a definitive agreement to acquire One World Foods for approximately $100 million.
– NRD Capital Management signed a definitive agreement to acquire Frisch’s for approximately $177 million.
– Levy Acquisition Corp. entered into a definitive agreement to acquire Del Taco Holdings for $500 million.
– AMC Wings, Inc. entered into a definitive agreement to acquire A Sure Wing, L.L.C. for $54 million.

Notable IPO’s include: Shake Shack, Wingstop, Bojangles and Carrols Restaurant Group, Inc.

Industry Update: E-Commerce M&A – June, 2015

June, 2015

The ecommerce industry continues to see strong activity. Year-to-date ecommerce 2015 transaction volume of 145 deals is on pace with record 2014 levels. During 2014, there were 375 ecommerce transactions, an increase of over 12% from the prior year.

Strategic buyers continue to lead the way for ecommerce transactions. Year-to-date 2015, strategic buyers accounted for 85% of the buyers with financial buyers making up the difference. During 2014, ecommerce strategic buyers accounted for just over 85% of the buyers.

For announced transactions (albeit a limited sample size), ecommerce multiples saw a modest increase from 10.5x EBITDA and 0.7x revenue in 2014 to 11.2x EBITDA and 0.9x revenue year-to-date 2015.

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

Notable publicly announced 2015 transactions:
– Gamestop entered into a definitive agreement to acquire Geeknet for approximately $130 million.
– Bluestem Brands signed a definitive agreement to acquire Orchard Brands for approximately $410 million.
– Expedia entered into a definitive agreement to acquire Orbitz for $1.4 billion.

Closed Deal Announcement – Peakstone Advises RealTruck.com on Transaction

Closed Deal Announcement – Peakstone Serves as Exclusive Financial Advisor to eComfort.com on Sale to Power Equipment Direct

June, 2015.  Peakstone serves as exclusive financial advisor to Ecomfort Holdings Inc. on the sale transaction to Power Equipment Direct.  eComfort.com, based in Buffalo Grove, Illinois, is a leading online retailer of HVAC and related equipment to retail consumers.  Powerequipmentdirect.com, based in Bolingbrook, IL, is a leading online retailer of outdoor power equipment.

“The Peakstone team was instrumental in helping us get to the right deal with the right acquirer.  They gave me the support I needed to make it through our first ever M&A process,” said Pavel Sokolovsky, chief executive officer and co-founder of eComfort.”

Peakstone is the leading investment bank to E-Commerce companies, completing numerous M&A and capital raising transactions in this sector.

Terms of the transaction were not disclosed.

For additional information about this transaction, contact:
Alex Fridman, Managing Director, 312-346-7303, afridman@peakstone.com
Steve Royko, Managing Director, 608-770-1009, sroyko@peakstone.com

About Peakstone

Peakstone is an 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 Exclusive Financial Advisor to Precision Spine on Recapitalization Transaction with MC Credit Partners LP

February, 2015.  Peakstone serves as exclusive financial advisor to Precision Spine, Inc. on recapitalization transaction with MC Credit Partners.  Precision Spine is a rapidly growing, innovative developer and manufacturer of implants for spinal surgery.

“This financing transaction is an important milestone for Precision Spine,” said Jim Pastena, Precision Spine’s Chairman and Chief Executive Officer.  “It positions the company to pursue an aggressive growth strategy by continuing to introduce innovative new products and confidently seek strategic acquisitions.  The spinal implant market is in a period of consolidation, and we believe Precision Spine will be an acquirer of choice for many smaller firms seeking an exit.”

“Peakstone has been a tremendous resource for Precision Spine,” continued Mr. Pastena.  “The Peakstone team delivered a creative and flexible financing solution with a lender that has the ability to deploy additional capital to fund our growth.  Peakstone worked through a number of complex issues.  They demonstrated resourcefulness, diligence, and creativity during the process, and worked very effectively with our management team.”

“We are very excited to partner with Precision Spine and its management team.  We see them as a leader in the spinal implant industry and are looking forward to supporting their continued growth and success.  Peakstone was essential to completing this transaction, and their team did outstanding work facilitating the transaction to a successful close,” said Jeff Kelly, Managing Director of MC Credit Partners LP.

For additional information about this transaction, contact:

Jeff Temple, Managing Director, 312-204-7301, jtemple@peakstone.com

About Peakstone

Peakstone is an 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 M&A Advisor on Outward Hound’s purchase of Bionic Pet Products

January 2015.  Outward Hound, a portfolio company of The Riverside Company, has acquired Bionic Pet Products, a maker of dog toys, as an add-on to its Outward Hound platform company. Peakstone initiated and led this transaction. This is the first add-on acquisition for Outward Hound since being acquired by Riverside in August 2013.

Outward Hound, formerly known as Kyjen Company, is a designer and distributor of branded dog toys based in Centennial, CO.

“The Bionic brand is synonymous with indestructible dog products that can withstand even the most aggressive chewers. Bionic is an ideal, synergistic partner for Outward Hound that strengthens our position as a leading pet company creating innovative products that engage and excite both dogs and their owners,” said Kyle Hansen of Outward Hound.

“We’re excited about bringing Bionic’s fantastic products to millions of new consumers,” said Riverside Vice President Steve Rice. “Bionic offers some of the most durable and fun dog toys in the market today and will add an exciting new dimension to the Outward Hound portfolio.”

Brad Curtis, who leads Peakstone’s  pet and animal care practice, led the transaction. Peakstone continues to focus on the pet products space and will be in attendance at the Global Pet Expo in Orlando in March to continue to work with clients in the sector seeking strategic options and growth capital solutions.

Peakstone continues to be one of the most active independent investment banks focused on the pet products industry, having closed numerous transactions in the sector.

The Riverside Company

The Riverside Company acquires businesses that have valuations of up to $250 million. Since its founding in 1988, Riverside has invested in more than 370 transactions and the firm’s international portfolio includes more than 75 companies. Riverside is headquartered in New York with additional offices in Atlanta, Chicago, Cleveland, Dallas, Los Angeles, San Francisco, and London.

About The Peakstone Group

Peakstone is an investment bank that specializes in mergers and acquisitions advisory and capital raising for middle market clients.  The Peakstone 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, please visit our website, www.peakstone.com

Peakstone Awarded Strategic Acquisition of the Year at the 13th Annual M&A Advisor Awards

January 2015. Peakstone is pleased to announce that it has been awarded Corporate/Strategic Acquisition of the Year for the 13th Annual M&A Advisor Awards.

Peakstone was the exclusive financial advisor to The Allstate Companies (Allstate Insulation Corporation, Allstate Insulation, LLC, State Insulation Corporation, and State Laminating Corporation), in the sale of its businesses to Distribution International, Inc., a portfolio company of Audax Private Equity.

“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 of The M&A Advisor.  While our industry has undergone significant transformation since our first awards were presented 12 years ago, we are convinced, more than ever before, that M&A is a driving force of the economy.  It is truly an honor to recognize Peakstone as a winner in their category amongst many qualified investment banking firms.

“The Peakstone Group, representing the best of the industry, has demonstrated creativity and perseverance in today’s challenging climate,” says Roger Aguinaldo, CEO and Founder of The M&A Advisor.

For additional information regarding this transaction contact:
Anup Agarwal, Managing Director, 312-204-7300, aagarwal@peakstone.com
Brad Curtis, Managing Director, 312-204-7300, bcurtis@peakstone.com

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 The Peakstone Group

Peakstone is an investment bank that specializes in mergers and acquisitions advisory and capital raising for middle market clients.  The Peakstone team is comprised of senior investment banking professionals who have decades of experience and have executed hundreds of transactions totaling billions of dollars.  Please visit our website, www.peakstone.com, or contact Carolyn Henson at chenson@peakstone.com for additional information.