M&A Deal Summary

Audax Private Equity and Patriot Capital Acquire PlayMonster

On November 19, 2018, private equity firms Audax Private Equity and Patriot Capital acquired consumer products company PlayMonster from Topspin Partners LBO and Balance Point Capital Partners

Acquisition Highlights
  • This is Audax Private Equity’s 2nd and Patriot Capital’s 4th transaction in the Consumer Products sector.
  • This is Audax Private Equity’s 111th and Patriot Capital’s 82nd transaction in the United States.
  • This is Audax Private Equity’s 3rd and Patriot Capital’s 5th transaction in Wisconsin.

M&A Deal Summary
Date 2018-11-19
Target PlayMonster
Sector Consumer Products
Buyer(s) Audax Private Equity
Patriot Capital
Sellers(s) Topspin Partners LBO
Balance Point Capital Partners
Deal Type Secondary Buyout
Advisor(s) Robert W. Baird & Co., Inc. (Financial)

Target

PlayMonster

Beloit, Wisconsin, United States
website
PlayMonster is a provider in the toy and game industry, and designs, manufactures, distributes, and markets games, children’s puzzles, preschool toys, creative activities, and teaching tools. PlayMonster was founded in 1985 and is based in Beloit, Wisconsin.

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Buyer(S) 2

Buyer

Audax Private Equity

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 1999
PE ASSETS 16.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Audax Private Equity is a private equity firm focused on acquiring control positions in a variety of mid to large North American headquartered companies. The Firm segments its activities into lower middle-market and larger scale investing. Within its larger group, Audax targets profitable businesses valued up to $800 million and within its lower middle-market group, the Firm seeks companies valued up to $125 million. Sectors of interest include business services, consumer products/services, financial services, healthcare services, industrial services, software, and technology. Audax has a special interest in businesses that can benefit from a buy and build investment strategy for growth. Audax Private Equity was formed in 1999 and is based in Boston, Massachusetts.

DEAL STATS #
Overall 116 of 153
Sector (Consumer Products) 2 of 2
Type (Secondary Buyout) 52 of 71
State (Wisconsin) 3 of 3
Country (United States) 111 of 145
Year (2018) 8 of 9
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-11-14 Colony Hardware

Orange, Connecticut, United States

Colony Hardware is a distributor of safety equipment, power tools, and other small-ticket job site essentials to multiple trades of contractors serving the commercial construction and public infrastructure construction markets. Colony Hardware was founded in 1988 and is based in Orange, Connecticut.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-12-13 Phoenix Physical Therapy

Cranberry Township, Pennsylvania, United States

Phoenix Physical Therapy is a provider of physical and occupational therapy services throughout Pennsylvania, including sports rehabilitation, orthopedic rehabilitation, home health physical therapy, and occupational health services. Phoenix Physical Therapy was founded in 1997 and is based in Cranberry Township, Pennsylvania.

Buy -
Buyer

Patriot Capital

Baltimore, Maryland, United States

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
Size Large
Type Sector Agnostic
DESCRIPTION

Patriot Capital is a private investment firm that provides equity and junior capital to support acquisitions, growth capital financings, management buyouts, and recapitalizations of middle-market companies. The Firm looks to invest $3 to $20 million in businesses generating revenues of $10 to $200 million. Areas of interest include business and consumer services, consumer products, niche manufacturing and distribution, education, e-commerce, application software, transportation, and telecom services. Patriot focuses its investment activity with the Mid-Atlantic, Midwest, and Southern areas of the US. Patriot Capital is based in Baltimore, Maryland.

DEAL STATS #
Overall 82 of 96
Sector (Consumer Products) 4 of 4
Type (Secondary Buyout) 10 of 12
State (Wisconsin) 5 of 5
Country (United States) 82 of 96
Year (2018) 5 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-10-25 Carthage Specialty Paperboard

Carthage, New York, United States

Carthage Specialty Paperboard, Inc. is a manufacturer of uncoated recycled paperboard used in premium specialty applications. Carthage Specialty Paperboard is based in Carthage, New York.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-12-03 Orion Talent

Cary, North Carolina, United States

Orion Talent provides skilled talent acquisition, recruitment optimization, and military hiring to businesses nationwide. Orion Talent helps organizations acquire the best talent from around the world. Orion ICS was founded in 1991 and is based in Cary, North Carolina.

Buy -

Seller(S) 2

SELLER

Topspin Partners LBO

website

Category Private Equity Firm
Founded 2001
PE ASSETS 213M USD
Size Small
Type Sector Agnostic
DESCRIPTION

Topspin LBO is the buyout arm of investment firm Topspin Partners. Topspin LBO looks to invest in established businesses with growing revenue and cash-flow of $2 to $10 million. Prospective companies generally have proven management in place and operate with defensible business models. While, Topspin will consider investing in businesses across the US, the Firm has a strong preference for opportunities serving the Long Island, New York area. Sectors of interest include security services, consumer products, publishing/media, niche manufacturing, food and beverage and restaurants. Topspin LBO was formed in 2001 and is based in Roslyn Heights, New York.

DEAL STATS #
Overall 10 of 12
Sector (Consumer Products) 1 of 2
Type (Secondary Buyout) 3 of 4
State (Wisconsin) 1 of 1
Country (United States) 10 of 12
Year (2018) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-11-29 Remedy Health Media

New York, New York, United States

Remedy Health Media is a digital health platform specializing in inspirational video-based storytelling and award-winning digital brands. The Company's portfolio of brands includes HealthCentral, TheBody, TheBodyPro, BerkeleyWellness, and Healthcommunities. Remedy Health Media was founded in 1994 and is based in New York City.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-03-11 JD Beauty Group

Hauppauge, New York, United States

JD Beauty Group is a marketer and manufacturer of professional beauty products. JD Beauty Group has launched some of the industry’s most recognizable and innovative brands and products such as WetBrush, TxturePro, and LuxorPro. These brands offer salon professionals beauty tools that promise quality and innovation to provide beautiful and professional results.

Sell -
SELLER

Balance Point Capital Partners

Westport, Connecticut, United States

Investor Investor Investor Investor Investor

website

Category Mezzanine Finance Firm
Founded 2007
PE ASSETS 1.7B USD
Size Small
Type Sector Agnostic
DESCRIPTION

Balance Point Capital Advisors is a provider of equity and debt capital to middle-market US-based companies. The Firm looks to invest $5 to $30 million in companies generating $10 $150 million in revenue. The Firm invest in the range of $15 to $75 million with and enterprise value of $10 to $150 million. Funds are used to support a variety of needs, including private equity sponsored buyouts, strategic acquisitions, refinancing's, management buyouts, leveraged recapitalizations, and growth capital financing needs. Balance Point Capital is based in Westport, Connecticut.

DEAL STATS #
Overall 7 of 16
Sector (Consumer Products) 2 of 2
Type (Secondary Buyout) 2 of 7
State (Wisconsin) 1 of 1
Country (United States) 7 of 16
Year (2018) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-09-05 Shift Paradigm

Austin, Texas, United States

Shift Paradigm is an operator of the full-service agency that provides true end-to-end email marketing solutions for enterprise organizations. Shift Paradigm expertise in strategy, operations, technology, creativity, analytics, deliverability, and privacy, apply proven methods to create efficient and flawless email programs that drive demonstrable bottom-line results for clients. Shift Paradigm was founded in 2010 and is based in Austin, Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-01-09 Eventus WholeHealth

Chapel Hill, North Carolina, United States

Eventus WholeHealth is a provider of physician-led healthcare services for residents and patients of skilled nursing and assisted living facilities. Led by a highly-trained team of physicians, psychiatrists, nurse practitioners, physician assistants, psychotherapists, podiatrists, optometrists, audiologists, and support staff, Eventus WholeHealth’s comprehensive, evidence-based model provides collaborative interdisciplinary care with the seamless and vital integration of a wide range of specialties. Eventus WholeHealth was founded in 2014 and is based in Chapel Hill, North Carolina.

Buy -
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