M&A Deal Summary

High Street Capital and Advantage Capital Partners Acquire Open Range Beef

On October 1, 2017, private equity firm High Street Capital and growth capital firm Advantage Capital Partners acquired food company Open Range Beef

Acquisition Highlights
  • This is High Street Capital’s 1st and Advantage Capital Partners’ 12th transaction in the Food sector.
  • This is High Street Capital’s 17th and Advantage Capital Partners’ 202nd transaction in the United States.
  • This is High Street Capital’s 1st and Advantage Capital Partners’ 3rd transaction in Nebraska.

M&A Deal Summary
Date 2017-10-01
Target Open Range Beef
Sector Food
Buyer(s) High Street Capital
Advantage Capital Partners
Deal Type Buyout (LBO, MBO, MBI)

Target

Open Range Beef

Gordon, Nebraska, United States
website
Open Range Beef is a niche provider of beef processing services, focused on serving the certified organic, grass-fed, antibiotic-free, toll processing and other niche markets which require small production runs, traceability, segregation, and quality processes. Open Range Beef is based in Gordon, Nebraska.

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Buyer(S) 2

Buyer

High Street Capital

Chicago, Illinois, United States

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 1997
PE ASSETS 165M USD
Size Small
Type Sector Agnostic
DESCRIPTION

High Street Capital is a private investment firm focused on acquiring lower middle-market businesses generating revenues $10-$100 million with an EBITDA up to $15 million. The Firm typically invests in recapitalizations, management buyouts and growth equity financings. Target sectors include business services, aerospace/defense, healthcare product manufacturers and suppliers, testing and analytical services, chemicals and coatings, specialty plastics, and test/measurement equipment manufacturers. High Street looks to commit $2 to $8 million of equity per transaction and will consider both control and non-control situations. High Street will not invest in retail businesses, restaurants, oil and gas, entertainment, commodities, turnarounds, or start-ups. High Street Capital was formed in 1997 and is based in Chicago, Illinois.

DEAL STATS #
Overall 17 of 26
Sector (Food) 1 of 1
Type (Buyout (LBO, MBO, MBI)) 12 of 14
State (Nebraska) 1 of 1
Country (United States) 17 of 26
Year (2017) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-06-09 ShoreMaster

Fergus Falls, Minnesota, United States

ShoreMaster is a manufacturer of premium docks manufactures docks, boat lifts, and accessories in North America. The company has five brands to meet the needs of any waterfront owner throughout North America. Its brands are ShoreMaster, PolyDock Products, Rhino Marine Systems, Shoreline Industries, and OEM Industries. ShoreMaster was formed in 1972 and is based in Fergus Falls, Minnesota.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-01-09 Banner Industries

Carol Stream, Illinois, United States

Banner Industries is a processor and distributor of metal bar products for a diverse set of industrial and medical end markets. Banner provides supply chain solutions and a variety of value-added metal processing services, including centerless grinding, chamfering, turning, precision saw cutting, straightening, material ID and full traceability, waterjet cutting, ultrasonic testing, and CNC machining to its OEM, contract manufacturer, and precision machining customers. Banner Industries was founded in 1985 and is based in Carol Stream, Illinois.

Sell -
Buyer

Advantage Capital Partners

New Orleans, Louisiana, United States

Investor Investor Investor Investor Investor

website

Category Growth Capital Firm
Founded 1992
PE ASSETS 2.6B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Advantage Capital Partners is a private equity firm focused on providing growth capital to a variety of companies. The Firm's geographic coverage includes Alabama, Colorado, Florida, Hawaii, Louisiana, Mississippi, Missouri, New York, Texas, Wisconsin and Washington DC. Advantage looks to initially commit $0.5 to $2 million per investment and can provide mezzanine debt in addition to equity capital. Areas of interest include communications, information technology, life science, and energy. Advantage Capital was formed in 1992 and is headquartered in New Orleans, Louisiana.

DEAL STATS #
Overall 203 of 271
Sector (Food) 12 of 15
Type (Buyout (LBO, MBO, MBI)) 36 of 40
State (Nebraska) 3 of 7
Country (United States) 202 of 269
Year (2017) 9 of 10
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-10-01 Davis Boats

Paso Robles, California, United States

Davis Boats is providing boat service and repair, trailer maintenance and repair, as well as engine repowering, electrical system maintenance and upgrades. Davis Boats was founded in 1958 and is based in Paso Robles, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-10-18 Cleveland HeartLab

Cleveland, Ohio, United States

Cleveland HeartLab, Inc. is a diagnostics company specializing in the detection, prevention, and management of cardiovascular disease from a proprietary product pipeline licensed exclusively from the Cleveland Clinic, the global leader in cardiac health.

Sell -
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