M&A Deal Summary

GreyLion and CD&R Acquire MOD Pizza

On March 6, 2015, growth capital firm GreyLion and private equity firm CD&R acquired restaurant MOD Pizza from The Sienna Group

Acquisition Highlights
  • This is GreyLion’s 1st and CD&R’s 1st transaction in the Restaurants sector.
  • This is GreyLion’s 5th and CD&R’s 31st transaction in the United States.
  • This is GreyLion’s 1st and CD&R’s 1st transaction in Washington.

M&A Deal Summary
Date 2015-03-06
Target MOD Pizza
Sector Restaurants
Buyer(s) GreyLion
CD&R
Sellers(s) The Sienna Group
Deal Type Secondary Buyout

Target

MOD Pizza

Bellevue, Washington, United States
website
MOD Pizza is a fast-casual pizza concept. MOD’s individual artisan-style pizzas are made on demand, using fresh-pressed dough and signature sauces. Customers create their own pizzas and salads, using any combination of over 30 featured toppings, or they can choose from a menu of MOD classics. MOD Pizza was founded in 2008 and is based in Bellevue, Washington.

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Buyer(S) 2

Buyer

GreyLion

Investor Investor Investor Investor Investor

website

Category Growth Capital Firm
Founded 2012
PE ASSETS 1.9B USD
Size Large
Type Sector Agnostic
DESCRIPTION

GreyLion is a private equity investment group, that primarily seeks opportunities throughout the US. Broad areas of interest include industrials, services, and consumer. The Firm looks to commit $25 to $125 million through a variety of transaction types, including buyouts, recapitalizations, divestitures, and growth capital financings. GreyLion was formed in 2012 and is headquartered in New York City.

DEAL STATS #
Overall 5 of 19
Sector (Restaurants) 1 of 3
Type (Secondary Buyout) 1 of 4
State (Washington) 1 of 1
Country (United States) 5 of 18
Year (2015) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-04-09 Youfit Health Club

Petersburg, Florida, United States

Youfit Health Clubs is a fitness center chain, currently operating over 115 clubs across the US, predominantly in the South and Western regions. Youfit Health Club was formed in 2008 and is based in Petersburg, Florida.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-06-30 MSA Security

New York, New York, United States

MSA Security engages in high consequence threat protection and specialized training for corporate and government clients. The MSA Security team is comprised of security professionals with diverse backgrounds in law enforcement, elite military units, and the private sector working together to provide unparalleled explosives detection, consulting, training, and perimeter security services. MSA Security was founded in 1987 and is based in New York City.

Buy -
Buyer

CD&R

New York, New York, United States

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 1978
PE ASSETS 30.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Clayton, Dubilier & Rice LLC (CD&R) is a large private equity firm that targets non-core divestitures of large corporations, growth equity financings, traditional buyouts, and corporate/family partnerships. CD&R looks for opportunities in North America, Western Europe, and Asia and will consider businesses in a wide range of sectors including consumer/retail, healthcare, industrials, and services. Prospective companies generally lead their respective markets, have stable cash flows, and possess competitive advantages through differentiated products, services, or processes. CD&R was formed in 1978 and has offices in New York City and London.

DEAL STATS #
Overall 41 of 91
Sector (Restaurants) 1 of 2
Type (Secondary Buyout) 11 of 25
State (Washington) 1 of 2
Country (United States) 31 of 66
Year (2015) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-08-22 CHC Group

Richmond, British Columbia, Canada

CHC Group Ltd. provides commercial helicopter services to the offshore oil and gas industry worldwide. The company operates in two segments, Helicopter Services and Heli-One.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-03-26 British Car Auctions

Hindhead, United Kingdom

BCA is Europe's vehicle remarketing business, providing physical and electronic vehicle auctions, together with a range of e-commerce activities and other related services. BCA operates out of 40 sites in 11 countries and generates gross auction proceeds of GBP3.3 billion per annum.

Sell £1.2B

Seller(S) 1

SELLER

The Sienna Group

Bellevue, Washington, United States

website

Category Private Equity Firm
Size Small
Type Sector Agnostic
DESCRIPTION

The Sienna Group is a private investment firm that targets middle-market company investments primarily located on the West Coast of the US. Sienna focuses on businesses with cash-flow of $3 to $10 million and up to $200 million of annual revenue. The Firm prefers majority investments and will consider buyouts, recapitalizations, and growth financing needs. Sienna can invest both equity and/or subordinated debt. Preferred industries include retail, restaurants, business services, financial services, and commercial real estate. The Sienna Group is based in Seattle, Washington.

DEAL STATS #
Overall 1 of 1
Sector (Restaurants) 1 of 1
Type (Secondary Buyout) 1 of 1
State (Washington) 1 of 1
Country (United States) 1 of 1
Year (2015) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2008-01-01 Freestone Capital Management

Seattle, Washington, United States

Freestone Capital Management (“Freestone”),based in Seattle, Washington, is one of the forty largest Registered Investment Advisory firms in the US1. Freestone provides wealth management and investment services to high net worth clients across the West. Founded by Gary Furukawa in 1999,Freestone practices a “stay wealthy” investment philosophy and has created a culture that is centered on serving the client.

Buy -
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