M&A Deal Summary

CCMP Capital Acquires Shoes for Crews

On October 27, 2015, private equity firm CCMP Capital acquired apparel/textiles company Shoes for Crews from AEA Investors and Audax Private Debt

Acquisition Highlights
  • This is CCMP Capital’s 2nd transaction in the Apparel/Textiles sector.
  • This is CCMP Capital’s 70th transaction in the United States.
  • This is CCMP Capital’s 1st transaction in Florida.

M&A Deal Summary

Date 2015-10-27
Target Shoes for Crews
Sector Apparel/Textiles
Buyer(s) CCMP Capital
Sellers(s) AEA Investors
Audax Private Debt
Deal Type Secondary Buyout
Advisor(s) Harris Williams & Co. (Financial)
Fried Frank Harris Shriver & Jacobson LLP (Legal)

Target

Shoes for Crews

West Palm Beach, Florida, United States
website
Shoes for Crews LLC is a unique rubber compound to produce slip-resistant footwear, significantly reducing slip-and-fall accidents.

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Buyer(S) 1

Buyer

CCMP Capital

New York, New York, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1984
PE ASSETS 18.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

CCMP Capital is a large private equity firm focused on buyout and growth equity valued up to $2 billion. Sectors of interest include consumer, retail, and services (specialty retail, direct marketing, consumer packaged goods); media/telecom (consumer and trade publishing, content and programming, broadcasting, cable, wireless and wire line communications ); industrial (chemicals, manufacturing, distribution, automotive); energy (exploration and production, power generation, renewable energy, services); and healthcare (services, pharmaceuticals, medical devices). The Firm's target investment size is $100 to $500 million. CCMP Capital Advisors was formed in 1984 and was spun off in 2006 from JP Morgan Chase. The Firm is based in New York City.


DEAL STATS #
Overall 91 of 97
Sector (Apparel/Textiles) 2 of 3
Type (Secondary Buyout) 18 of 22
State (Florida) 1 of 1
Country (United States) 70 of 75
Year (2015) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-06-16 Ollie s Bargain

Harrisburg, Pennsylvania, United States

Ollie's Bargain operates of a chain of retail stores that offers deeply discounted and closeout brand-name merchandise across a broad selection of product categories, including books, carpet, domestics and housewares. Ollie's Bargain Outlet was founded in 1982 and is based in Harrisburg, Pennsylvania.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-01-27 The Tennis Channel

Santa Monica, California, United States

The Tennis Channel, Inc. is a hybrid of comprehensive sports, health, fitness, pop culture, entertainment and travel programming, home to every aspect of the wide-ranging, worldwide tennis community.

Sell $350M

Seller(S) 2

SELLER

AEA Investors

New York, New York, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1968
PE ASSETS 17.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

AEA Investors is a private investment firm focused on investing in and acquiring businesses headquartered primarily in the US, Europe, and China. AEA looks for companies operating in stable to growing industries with a proven ability to generate positive cash-flow. Broad sectors of interest include value-added industrial products/services, specialty chemicals, consumer products, and services. In addition to its primary middle-market private equity fund, AEA maintains additional funds targeted towards mezzanine financing, senior secured debt, and small business buyouts. AEA Investors was formed in 1968 and is based in New York City.


DEAL STATS #
Overall 40 of 76
Sector (Apparel/Textiles) 3 of 3
Type (Secondary Buyout) 15 of 33
State (Florida) 3 of 3
Country (United States) 37 of 69
Year (2015) 5 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-10-01 ThreeSixty Group

Hong Kong, China

ThreeSixty Group designs develop and sources hardline consumer products within the children’s activity, home décor, men’s gift, and other accessories categories.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-11-17 Balboa Water Group

Costa Mesa, California, United States

Balboa Water Group, Inc. is a manufacturer of customized, critical components for the portable spa, jetted bath, and other adjacent markets. Headquartered in Costa Mesa, CA, Balboa is a global operation selling into 47 different countries and utilizing a new state-of-the-art manufacturing facility in Baja, Mexico.

Buy -
SELLER

Audax Private Debt

New York, New York, United States

Investor Investor Investor Investor Investor

website


Category Mezzanine Finance Firm
Founded 2000
PE ASSETS 5.4B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Audax Mezzanine is the mezzanine finance arm of the Audax Group. The Firm focuses on investing in both private and public, US-based middle market companies with a strong history of cash flows and consistent revenue growth. Audax will consider subordinated mezzanine debt commitments, second lien or junior secured debt, preferred stock and common stock. The Firm seeks to invest in companies valued between $10 and $60 million. Types of transaction include MBOs, LBOs, growth capital financings, acquisition financings, and recapitalizations.


DEAL STATS #
Overall 35 of 51
Sector (Apparel/Textiles) 3 of 3
Type (Secondary Buyout) 14 of 24
State (Florida) 2 of 4
Country (United States) 35 of 51
Year (2015) 5 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-10-26 Taylor-Wharton International

Minnetonka, Minnesota, United States

Taylor-Wharton International designs and manufacturers a comprehensive range of stationary bulk and portable cryogenic storage systems for gas and liquid applications.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-12-31 Chesapeake IRB

Columbia, Maryland, United States

Chesapeake Research Review, Inc. is a provider of independent IRB services for pharmaceutical companies, universities, individual researchers, academic medical centers, and community hospitals. Chesapeake Research Review was formed in 1993 and is based in Columbia, Maryland.

Buy -