M&A Deal Summary

Vestar Capital Partners and HarbourVest Partners Acquire Nonni s

On November 14, 2017, private equity firms Vestar Capital Partners and HarbourVest Partners acquired food company Nonni s from Wind Point Partners

Acquisition Highlights
  • This is Vestar Capital Partners’ 7th and HarbourVest Partners’ 3rd transaction in the Food sector.
  • This is Vestar Capital Partners’ 60th and HarbourVest Partners’ 99th transaction in the United States.
  • This is Vestar Capital Partners’ 1st and HarbourVest Partners’ 1st transaction in Oklahoma.

M&A Deal Summary
Date 2017-11-14
Target Nonni s
Sector Food
Buyer(s) Vestar Capital Partners
HarbourVest Partners
Sellers(s) Wind Point Partners
Deal Type Secondary Buyout
Advisor(s) Houlihan Lokey (Financial)
Kirkland & Ellis (Legal)

Target

Nonni s

Tulsa, Oklahoma, United States
website
Nonni's is a manufacturer and marketer of artisanal cookies and other premium baked snacks. Nonni’s premium products are synonymous with artisanal, authentic, and Italian-inspired. Products are marketed under the Nonni’s, THINaddictives, and La Dolce Vita brand names, and sold through a diverse distribution platform that includes major customers in club, grocery, mass market, foodservice, and online retailing. Nonni's is based in Tulsa, Oklahoma.

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Buyer(S) 2

Buyer

Vestar Capital Partners

New York, New York, United States

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 1988
PE ASSETS 7.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Vestar Capital Partners is a private equity firm that targets management buyouts and growth capital investments across North America and Europe in the consumer, business services, and healthcare sectors. The Firm looks to invest $50 to $150 million in transactions valued up to $1 billion. Specific areas of interest include food, apparel, household goods, retail, consumer services, industrial services, information services, manufacturing, distribution, transportation, financial services, media/communications, digital health media, and medical technology. Vestar Capital Partners was formed in 1988 and is based in New York City.

DEAL STATS #
Overall 75 of 82
Sector (Food) 7 of 10
Type (Secondary Buyout) 10 of 13
State (Oklahoma) 1 of 1
Country (United States) 60 of 66
Year (2017) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-09-07 ISS

Rockville, Maryland, United States

Institutional Shareholder Services, Inc. is a provider of corporate governance and responsible investment (RI) solutions for asset owners, asset managers, hedge funds, and asset service providers. ISS’ solutions include objective governance research and recommendations; RI data, analytics, advisory, and research; end-to-end proxy voting and distribution solutions; turnkey securities class-action claims management (provided by Securities Class Action Services, LLC); and reliable global governance data and modeling tools. Clients rely on ISS’ expertise to help them make informed corporate governance and responsible investment decisions. Institutional Shareholder Services was formed in 1985 and is based in Rockville, Maryland.

Sell $720M
FOLLOWING 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.

Sell -
Buyer

HarbourVest Partners

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 1978
PE ASSETS 86.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

HarbourVest Partners, LLC is an investment firm that makes investments in new private equity partnerships, acquires secondary interests, and makes direct investments in operating companies. HarbourVest's largest investment area is investments in private equity funds, comprising of approximately 2/3 of HarbourVest's assets. HarbourVest's direct investment group looks for investments in growth oriented businesses at a variety of stages. The Group generally targets co-investments of $5 to $100 million, growth capital financings of $5 to $40 million, or mezzanine commitments of $5 to $20 million. Sectors of interest include software, hardware, data communications, telecommunications, and financial services. HarbourVest was formed in 1997 to assume the business of Hancock Venture Partners which was formed in 1982. HarbourVest Partners is based in Boston, Massachusetts, with additional offices in London, Tokyo, and Hong Kong.

DEAL STATS #
Overall 166 of 223
Sector (Food) 3 of 5
Type (Secondary Buyout) 36 of 55
State (Oklahoma) 1 of 1
Country (United States) 99 of 133
Year (2017) 13 of 14
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-11-13 Secure-24 Intermediate Holdings

Southfield, Michigan, United States

Secure-24 Intermediate Holdings, Inc. is a provider of managed IT operations, hosting and cloud services, providing highly available environments and expert management and support for your business critical applications. Secure-24 Intermediate Holdings, Inc. was established in 2001 and is based in Southfield, Michigan.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-11-20 BenefitMall

Dallas, Texas, United States

BenefitMall is a national provider of employee benefits, payroll, HR and employer services. By combining payroll and benefits, BenefitMall empowers Trusted Advisors to develop the best employee programs while maintaining compliance with government regulations and Health Care Reform. BenefitMall was founded in 1979 and is based in Dallas, Texas.

Sell -

Seller(S) 1

SELLER

Wind Point Partners

Chicago, Illinois, United States

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 1984
PE ASSETS 5.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Wind Point Partners is a private equity firm focused on acquisitions of mid-sized companies operating in the business services, consumer products, healthcare services, and industrial products sectors. Wind Point looks to invest $60 to $130 million in companies valued up to $500 million. Prospective transaction types include leveraged buyouts, recapitalizations, industry consolidations, and growth capital financings. Wind Point Partners began investing in 1984 and is based in Chicago.

DEAL STATS #
Overall 39 of 55
Sector (Food) 6 of 8
Type (Secondary Buyout) 14 of 22
State (Oklahoma) 2 of 3
Country (United States) 37 of 50
Year (2017) 4 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-08-31 Pelsis

Knaresborough, United Kingdom

Pelsis is a trusted global supplier to the world’s largest pest control operators, distributors, and retailers through leading brands such as Edialux, Insect-O-Cutor, B&G, Curtis Dyna-Fog, and Pest-Stop. Pelsis was founded in 1981 and is based in Knaresborough, United Kingdom.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-12-08 STIR Foods

Orange, California, United States

STIR Foods is a custom food manufacturer that specializes in soups, sauces, dressings, bakery mixes, and essentially anything else that can be stirred, ladled, or spooned. STIR utilizes Hot Cooking and Cold Mixing processes and techniques. STIR is a customer centric company that focuses on expedient and thorough service, culinary expertise and innovation, manufacturing finesse and flexibility, and product quality and value. STIR Foods was founded in 2005 and is based in Orange, California.

Buy -
Mergr

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Company

Legal