M&A Deal Summary

Bain Capital Private Equity Acquires Varsity Brands

On June 19, 2018, private equity firm Bain Capital Private Equity acquired consumer products company Varsity Brands from Charlesbank Capital Partners

Acquisition Highlights
  • This is Bain Capital Private Equity’s 8th transaction in the Consumer Products sector.
  • This is Bain Capital Private Equity’s 93rd transaction in the United States.
  • This is Bain Capital Private Equity’s 2nd transaction in Tennessee.

M&A Deal Summary
Date 2018-06-19
Target Varsity Brands
Sector Consumer Products
Buyer(s) Bain Capital Private Equity
Sellers(s) Charlesbank Capital Partners
Deal Type Secondary Buyout

Target

Varsity Brands

Memphis, Tennessee, United States
website
Varsity Brands is a provider of goods and services to the school spirit industry. Varsity designs, markets and manufactures cheerleading and dance team uniforms and accessories. With a mission to inspire achievement and create memorable experiences for young people, Varsity Brands elevates the student experience, promotes participation and celebrates achievement through three unique but interrelated businesses: BSN SPORTS; Varsity Spirit; and Herff Jones. Together, these businesses promote personal, school and community pride through their customizable products and programs to elementary and middle schools, high schools, and colleges and universities, as well as church organizations, professional and collegiate sports teams and corporations.

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Buyer(S) 1

Buyer

Bain Capital Private Equity

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 1984
PE ASSETS 44.2B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Bain Capital Private Equity (BCPE), is the private equity investment arm of alternative asset management firm, Bain Capital. BCPE targets leveraged buyout and growth capital transactions in a wide variety of industries including information technology, communications, media, healthcare, industrial/manufacturing, retail/consumer, and financial services. Bain Capital is based in Boston with additional offices in New York, London, Mumbai, Hong Kong, Shanghai, Tokyo, and Munich.

DEAL STATS #
Overall 171 of 227
Sector (Consumer Products) 8 of 11
Type (Secondary Buyout) 37 of 63
State (Tennessee) 2 of 2
Country (United States) 93 of 120
Year (2018) 6 of 13
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-05-31 TriTech Software Systems

San Diego, California, United States

TriTech Software Systems is a provider of enterprise and mobile communication software and services to public safety customers. TriTech’s solutions are used by 911 call centers and police, fire and emergency medical services agencies to respond to, process, dispatch and communicate emergency responses.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-06-28 Italmatch

Genoa, Italy

Italmatch is a chemical group, specialized in performance additives for water treatment, oil & gas, lubricants and plastics, and boasts a wide product range able to fulfil the requirements of the most demanding applications, including personal care. Italmatch was founded in 1997 and is based in Genoa, Italy.

Buy -

Seller(S) 1

SELLER

Charlesbank Capital Partners

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 1998
PE ASSETS 6.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Charlesbank Capital Partners is a private equity firm focused on investing in companies at various stages of development, including private and public companies, distressed situations, as well as later stage high growth businesses. Charlesbank typically invests $50 to $150 million per deal, in companies valued between $150 million and $3 billion. Industries of interest include consumer products, distribution, energy, financial services, food, education, health-care products and services, manufacturing, media and communications, and retail. Charlesbank Capital Partners is based in Boston, Massachusetts with an additional office in New York City.

DEAL STATS #
Overall 40 of 49
Sector (Consumer Products) 4 of 4
Type (Secondary Buyout) 12 of 15
State (Tennessee) 3 of 3
Country (United States) 36 of 45
Year (2018) 2 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-04-17 Hearthside Food Solutions

Downers Grove, Illinois, United States

Hearthside Food Solutions is a food contract manufacturer. The Company offers diverse production capabilities including bars, cookies, crackers, granola, snack components, and other baked goods. Hearthside specializes in the production of complex, high-volume, short-run products, which represent an increasing portion of customer demand. Hearthside Food Solutions was founded in 2009 and is based in Downers Grove, Illinois.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-06-28 BJ s

Marlborough, Massachusetts, United States

BJ's is a warehouse club operator on the East Coast of the United States. BJ's delivers significant value to our members, consistently offering 25% or more savings on a representative basket of manufacturer-branded groceries compared to traditional supermarket competitors. BJ's provides a curated assortment focused on perishable products, continuously refreshed general merchandise, gas and other ancillary services to deliver a differentiated shopping experience that is further enhanced by our omnichannel capabilities. BJ's was incorporated in 1984 and is based in Westborough, Massachusetts.

Sell -
Mergr

Product

Company

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