M&A Deal Summary

Huron Capital, Salt Creek Capital and Cambria Group Acquire Aquamar

On August 22, 2017, private equity firms Huron Capital, Salt Creek Capital and Cambria Group acquired food company Aquamar

Acquisition Highlights
  • This is Huron Capital’s 2nd, Salt Creek Capital’s 2nd and Cambria Group’s 2nd transaction in the Food sector.
  • This is Huron Capital’s 41st, Salt Creek Capital’s 22nd and Cambria Group’s 16th transaction in the United States.
  • This is Huron Capital’s 4th, Salt Creek Capital’s 11th and Cambria Group’s 3rd transaction in California.

M&A Deal Summary

Date 2017-08-22
Target Aquamar
Sector Food
Buyer(s) Huron Capital
Salt Creek Capital
Cambria Group
Deal Type Consolidation

Target

Aquamar

Rancho Cucamonga, California, United States
website
Aquamar is a producer of both frozen and refrigerated products, most of which are sold under the Aquamar brand name. Aquamar manufacturers of shred style surimi in North America, selling to restaurant/foodservice customers and major retailers. Aquamar was founded in 1991 and is based in Rancho Cucamonga, California.

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Buyer(S) 3

Buyer

Huron Capital

Detroit, Michigan, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1999
PE ASSETS 1.8B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Huron Capital Partners is a private equity firm that seeks to acquire or recapitalize niche manufacturers, value-added distributors and specialty service companies. Prospective transaction situations include management buyouts, corporate spin-offs, recapitalizations, family successions and consolidations. Huron prefers opportunities located in the US and Canada. Target companies typically have revenues between $20 and $200 million and EBITDA of at least $5 million. Huron can commit up to $10 million and $50 million of equity capital per transaction. Huron Capital Partners was formed in 1999 and has offices in Detroit, Michigan and Ontario, Canada.


DEAL STATS #
Overall 44 of 62
Sector (Food) 2 of 2
Type (Consolidation) 3 of 4
State (California) 4 of 7
Country (United States) 41 of 59
Year (2017) 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-08-01 Stay Online

Henderson, North Carolina, United States

Stay Online manufactures and distributes a wide selection of highly-specialized power cords and cables for the data center, power infrastructure, and industrial markets. Stay Online was founded in 1987 and is based in Henderson, North Carolina.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-10-23 Hansons Holdings

Troy, Michigan, United States

Hansons Holdings is a provider of marketing and support services for the installation of replacement windows, roofing and siding. Hansons Holdings was founded in 1988 and is based in Troy, Michigan.

Buy -
Buyer

Salt Creek Capital

Woodside, California, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 2009
Size Small
Type Sector Agnostic
DESCRIPTION

Salt Creek Capital (SCC) is a private equity firm focused on the lower middle-market. SCC targets growth oriented businesses (organic or through acquisitions) with the potential to lead their respective markets. Prospective companies are generally profitable ($1 million+ of EBITDA) and generate $3 to $50 million of revenue. Sectors of interest include business services, energy services, distribution, franchising, logistics, and specialty finance. Target transaction situations include recapitalizations, successions, growth capital financings, shareholder liquidity needs, MBOs, and divestitures. Salt Creek Capital is based in Menlo Park, California.


DEAL STATS #
Overall 22 of 45
Sector (Food) 2 of 2
Type (Consolidation) 1 of 1
State (California) 11 of 16
Country (United States) 22 of 45
Year (2017) 3 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-08-22 LM Foods

Carteret, New Jersey, United States

LM Foods LLC is a producer of frozen, private label surimi seafood, offering premium, select and value products and also selling premium products under the Classic Bay brand name. LM Foods was founded in 1990 and is based in Carteret, New Jersey.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-09-25 Corporate Caterers

Miami, Florida, United States

Corporate Caterers is a franchisor that provides catering services to a variety of customers throughout the United States. Corporate Caterers was founded in 1997 and is based in Miami, Florida.

Buy -
Buyer

Cambria Group

Dallas, Texas, United States

Investor Investor Investor

website


Category Private Equity Firm
Founded 1996
Size Small
Type Sector Agnostic
DESCRIPTION

The Cambria Group is a private equity firm that targets investments in small and mid-sized companies. Cambria prefers control investment situations where the firm can invest up to $5 million in businesses valued less than $25 million. Target companies typically generate sales up to $50 million and operate in the manufacturing, processing, distribution, transportation, or service sectors. Cambria will not invest in retail, technology, or healthcare. The Cambria Group was formed in 1996 and is based in Dallas, Texas.


DEAL STATS #
Overall 16 of 16
Sector (Food) 2 of 2
Type (Consolidation) 2 of 2
State (California) 3 of 3
Country (United States) 16 of 16
Year (2017) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-05-12 Polaroid

Waltham, Massachusetts, United States

Polaroid is a provider of consumer products ranging from instant and digital still cameras, 4K high-definition TVs, mobile printers and accessories, apparel and more. Polaroid was founded in 1937 and is based in Waltham, Massachusetts.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-11-04 Globys

Seattle, Washington, United States

Globys helps telecom service providers deliver a digital experience for their business customers. Today, the Globys B2B Portal Suite enables business customers of all sizes to securely transact with their providers, whether buying new products, managing existing services, analyzing usage and charges, or paying their invoices. With a strong global client base, including five of the six top carriers in North America as customers, Globys has hundreds of thousands of companies interacting with its products every day. Globys is focused squarely on being a true partner to its clients, making it easy for them to deliver exceptional customer experiences at one-third of the time and cost of alternate solutions. Globys was founded in 2008 and is based in Seattle, Washington.

Sell -