M&A Deal Summary

Charlesbank Capital Partners Acquires Empire Today

On August 19, 2021, private equity firm Charlesbank Capital Partners acquired consumer services company Empire Today from H.I.G. Private Equity

Acquisition Highlights
  • This is Charlesbank Capital Partners’ 2nd transaction in the Consumer Services sector.
  • This is Charlesbank Capital Partners’ 66th transaction in the United States.
  • This is Charlesbank Capital Partners’ 7th transaction in Illinois.

M&A Deal Summary

Date 2021-08-19
Target Empire Today
Sector Consumer Services
Buyer(s) Charlesbank Capital Partners
Sellers(s) H.I.G. Private Equity
Deal Type Secondary Buyout
Advisor(s) William Blair (Financial)

Target

Empire Today

Northlake, Illinois, United States
website
Empire Today is a provider of installed home improvements and home furnishings. Empire serves residential and business customers with a wide selection of products suitable for homes, small businesses, organizations, and commercial applications. Empire’s line of quality, name-brand products includes carpet, hardwood, laminate, ceramic, vinyl flooring, and window treatments. The company provides shop-at-home convenience or on-site consultation, next-day professional installation on many products, quality products at great prices, and world-class service to about 70 of the largest metropolitan areas in the US. Empire Today was founded in 1959 and is based in Northlake, Illinois.

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Buyer(S) 1

Buyer

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 74 of 86
Sector (Consumer Services) 2 of 3
Type (Secondary Buyout) 24 of 29
State (Illinois) 7 of 8
Country (United States) 66 of 76
Year (2021) 5 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-08-19 MDVIP

Boca Raton, Florida, United States

MDVIP is a personalized healthcare program that empowers people to reach their health and wellness goals through in-depth knowledge, expertise, and one-on-one coaching with an affiliated primary care doctor. The company's model was created with the hope and vision of bringing more life to more lives both young and old by putting impersonal healthcare practices and tactics aside and embracing a new way of healing. MDVIP was founded in 2000 and is based in Boca Raton, Florida.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-08-31 Mediaocean

New York, New York, United States

Mediaocean is a mission-critical platform for omnichannel advertising connecting brands, agencies, media, technology, and data. Using AI and machine learning technology to control marketing investments and optimize business outcomes, Mediaocean powers campaigns from planning, buying, and selling to analysis, invoices, and payments. Mediaocean was founded in 1967 and is based in New York City.

Buy -

Seller(S) 1

SELLER

H.I.G. Private Equity

Miami, Florida, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1993
PE ASSETS 57.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

HIG Private Equity is the private equity arm of HIG Capital LLC. The firm focuses on management buyouts, growth equity investments, and recapitalizations of middle market companies with an enterprise value of $50 - $500 million. The Firm also will consider add-on acquisitions, industry consolidations, going-privates, and corporate divestitures. Sectors of interest include aerospace, building materials, business services, consumer products, distribution, healthcare, infrastructure, contracting, manufacturing, media, oil & gas services, IT, and transportation. HIG was formed in 1993 and has offices in Miami, Atlanta, Boston, and San Francisco. HIG's European affiliate is HIG Europe with offices in London, Hamburg, and Paris.


DEAL STATS #
Overall 131 of 153
Sector (Consumer Services) 4 of 4
Type (Secondary Buyout) 50 of 65
State (Illinois) 8 of 8
Country (United States) 96 of 112
Year (2021) 10 of 17
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-08-19 Pegasus Home Fashions

Elizabeth, New Jersey, United States

Pegasus Home Fashions is a poly-filled pillow manufacturer. The Company services blue-chip customers within the mass-market, warehouse club, and specialty channels. In addition to selling under its own proprietary brands (including the “Essence Of” collection, Planet Pillow, and America’s Pillow), Pegasus manufactures for a portfolio of licensed brands (including Martha Stewart, BCBG Max Azria, and Beautyrest) and private label customers. The Company also wholesales ancillary bedding products, including mattress pads, toppers, and pillow protectors. Pegasus Home Fashions was founded in 1990 and is based in Elizabeth, New Jersey.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-09-01 Jackson Paper Manufacturing

Sylva, North Carolina, United States

Jackson Paper Manufacturing specializes in the manufacturing of 100% recycled medium, corrugated sheets, and digitally printed corrugated packaging. JPM’s diverse customer base serves eCommerce, food, and beverage, durable and non-durable good end markets throughout the Southeastern United States. The Company operates four state-of-the-art facilities to deliver consistent quality, unrivaled lead times, and a high-touch service model which supports customized solutions. Jackson Paper Manufacturing was formed in 1995 and is based in Sylva, North Carolina.

Buy -