M&A Deal Summary

Entrepreneurial Equity Partners and Mubadala Capital Acquire Mercer Foods

On January 13, 2022, private equity firm Entrepreneurial Equity Partners and sovereign wealth fund Mubadala Capital acquired food company Mercer Foods from Graham Partners

Acquisition Highlights
  • This is Entrepreneurial Equity Partners’ 8th and Mubadala Capital’s 2nd transaction in the Food sector.
  • This is Entrepreneurial Equity Partners’ 7th and Mubadala Capital’s 8th transaction in the United States.
  • This is Entrepreneurial Equity Partners’ 3rd and Mubadala Capital’s 2nd transaction in California.

M&A Deal Summary

Date 2022-01-13
Target Mercer Foods
Sector Food
Buyer(s) Entrepreneurial Equity Partners
Mubadala Capital
Sellers(s) Graham Partners
Deal Type Secondary Buyout
Advisor(s) Harris Williams & Co. (Financial)

Target

Mercer Foods

Modesto, California, United States
website
Mercer Foods is a provider of freeze-dried fruit and vegetable ingredients. Mercer Foods offers a complete solution for freeze-dried food needs, including an extensive product portfolio and complete customization capabilities. Mercer Foods was founded in 1980 and is based in Modesto, California.

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Buyer(S) 2

DESCRIPTION

Entrepreneurial Equity Partners is a private equity firm focused on opportunities in the food sector. Specific areas of interest include food/beverage brands, private label/contract manufacturing, foodservice, and consumer packaged goods. The Firm prefers control situations in businesses with minimum revenues of $50 million where it can commit at least $25 million of equity capital. Entrepreneurial Equity Partners is headquartered in Chicago, Illinois.


DEAL STATS #
Overall 8 of 12
Sector (Food) 8 of 10
Type (Secondary Buyout) 2 of 3
State (California) 3 of 3
Country (United States) 7 of 10
Year (2022) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-01-13 Thrive Foods

Modesto, California, United States

Thrive Foods is a manufacturer of freeze-dried products, including fruits, vegetables, proteins, pet treats, probiotics, enzymes, and prepared meals. Thrive Foods was founded in 2004 and is based in Modesto, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-05-16 Furlani Foods

Mississauga, Ontario, Canada

Furlani Foods is a producer of specialty garlic breads for distribution to north america’s retailers and foodservice operators. Furlani Foods was founded in 1984 and is based in Mississauga, Ontario.

Buy -
Buyer

Mubadala Capital

Investor

website


Category Sovereign Wealth Fund
Founded 2002
PE ASSETS 276.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Mubadala Capital is a private equity firm focused on investing capital across a range of assets worldwide. The Firm primarily invests in private and public assets, but also considers credit, real estate, and alternatives. Mubadala invests in a variety of sectors including industrials, healthcare, energy, renewables, financial services, infrastructure, and business services. Mubadala Capital was founded in 2008 and is headquartered in Abu Dhabi, United Arab Emirates.


DEAL STATS #
Overall 31 of 40
Sector (Food) 2 of 3
Type (Secondary Buyout) 10 of 13
State (California) 2 of 3
Country (United States) 8 of 11
Year (2022) 2 of 9
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-01-13 Thrive Foods

Modesto, California, United States

Thrive Foods is a manufacturer of freeze-dried products, including fruits, vegetables, proteins, pet treats, probiotics, enzymes, and prepared meals. Thrive Foods was founded in 2004 and is based in Modesto, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-06-03 Unesulbahi

Eunapolis, Brazil

Unesulbahi is an operator of a medical university with the purpose of training people, and historical subjects, impregnated with socio-environmental values ​​and principles. Unesulbahi is based in Eunapolis, Brazil.

Buy -

Seller(S) 1

SELLER

Graham Partners

Newtown Square, Pennsylvania, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1988
PE ASSETS 5.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Graham Partners is a private equity that targets middle market industrial and manufacturing companies. The Firm seeks to invest in businesses based in the US and also consider investments in Canada and Western Europe. Graham Partners focuses on strong growth potential companies with high return on invested capital, led by experienced management teams in revenues between $30 - $500 million and EBITDA between $10 million and $50 million. The firm typically invests between $10 million and $100 million in equity and the balance via debt and can invest higher than $100 million through co-investments. Broad areas of interest include building products, water management, medical products, consumer products, packaged food & beverage, packaging, aerospace/defense, agriculture, capital equipment, energy related products, home and outdoor, sports and leisure, and transportation services. Prospective transaction types include MBOs, recapitalization and growth capital financing. Graham Partners is an affiliate of The Graham Group was formed in 1988 and is based in Newton Square, Pennsylvania.


DEAL STATS #
Overall 35 of 37
Sector (Food) 3 of 3
Type (Secondary Buyout) 15 of 15
State (California) 5 of 6
Country (United States) 32 of 34
Year (2022) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-12-16 ACME

Allentown, Pennsylvania, United States

ACME is a manufacturer of vacuum insulated pipe used in the transmission of gasses that have been liquefied, repairs cryogenic storage tanks, and repairs and manufactures tank trailers used in transporting liquid nitrogen, oxygen, and helium, etc. ACME was established in 1969 and is based in Allentown, Pennsylvania.

Sell $295M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-06-22 KCF Technologies

State College, Pennsylvania, United States

KCF Technologies is a provider of asset health monitoring solutions that include SaaS enterprise software and hardware along with a high-touch engineering support. KCF Technologies was founded in 2000 and is based in State College, Pennsylvania.

Buy -