M&A Deal Summary

KKR Acquires 1-800-Contacts

On September 23, 2020, private equity firm KKR acquired e-commerce company 1-800-Contacts from AEA Investors

Acquisition Highlights
  • This is KKR’s 6th transaction in the E-Commerce sector.
  • This is KKR’s 152nd transaction in the United States.
  • This is KKR’s 1st transaction in Utah.

M&A Deal Summary
Date 2020-09-23
Target 1-800-Contacts
Sector E-Commerce
Buyer(s) KKR
Sellers(s) AEA Investors
Deal Type Secondary Buyout
Advisor(s) Morgan Stanley
Jefferies
CapM Advisors (Financial)
Fried Frank Harris Shriver & Jacobson LLP (Legal)

Target

1-800-Contacts

Draper, Utah, United States
website
1-800-Contacts is a direct-to-consumer independent retailer of contact lenses in the US. The Company also provides contact lens sourcing and fulfillment services to leading brick-and-mortar retailers. 1-800-Contacts was formed in 1995 and is based in Draper, Utah.

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Buyer(S) 1

Buyer

KKR

New York, New York, United States

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 1976
PE ASSETS 510.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION
KKR's office in Menlo Park, California.
KKR's office in Menlo Park, California.

KKR is a global investment firm founded by Jerome Kohlberg, Henry Kravis, and George Roberts. The Firm is separated into several business segments including private markets, public markets, capital markets, and other principal activities. KKR's private equity practice invests in management buyouts, take privates, corporate divestitures, industry consolidations, and partnerships with family-owned companies. KKR will invest in a broad range of industries and companies and will consider businesses throughout North America, Europe, Asia, and Australia/New Zealand. Sectors of interest include chemicals, consumer products, energy and natural resources, financial services, healthcare, industrial, media/communications, retail, and technology. In addition to its traditional principal investment activity business, KKR also invests in infrastructure assets. KKR was formed in 1976 and is based in New York, New York.

DEAL STATS #
Overall 354 of 428
Sector (E-Commerce) 6 of 6
Type (Secondary Buyout) 74 of 102
State (Utah) 1 of 1
Country (United States) 152 of 189
Year (2020) 33 of 38
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-09-22 Reliance Retail

Mumbai, India

Reliance Retail operates an online and offline retail business in three core segments across India: Food & Grocery, Fashion & Lifestyle, and Consumer Electronics. Reliance Retail was founded in 2006 and is based in Mumbai, India.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-09-24 Academy Sports and Outdoors

Katy, Texas, United States

Academy Sports and Outdoors is a premier sports, outdoor, and lifestyle retailer with a broad assortment of high-quality hunting, fishing, and camping equipment and gear along with sports and leisure products, footwear, apparel, and much more. Academy Sports and Outdoors was founded in 1938 and is based in Katy, Texas.

Sell -

Seller(S) 1

SELLER

AEA Investors

New York, New York, United States

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 1968
PE ASSETS 17.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

AEA Investors is a private investment firm focused on investing in and acquiring businesses headquartered primarily in the US, Europe, and China. AEA looks for companies operating in stable to growing industries with a proven ability to generate positive cash-flow. Broad sectors of interest include value-added industrial products/services, specialty chemicals, consumer products, and services. In addition to its primary middle-market private equity fund, AEA maintains additional funds targeted towards mezzanine financing, senior secured debt, and small business buyouts. AEA Investors was formed in 1968 and is based in New York City.

DEAL STATS #
Overall 61 of 76
Sector (E-Commerce) 1 of 1
Type (Secondary Buyout) 26 of 33
State (Utah) 1 of 2
Country (United States) 57 of 69
Year (2020) 3 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-06-29 CLS Management Services

Sugar Land, Texas, United States

CLS Management Services is one of the largest independent providers of the right of way and land management consulting services in the U.S. The Company provides a comprehensive suite of land management services including project management, right of way acquisition, training, staffing, and related field services to both public and private sector clients in the utility, public infrastructure, and energy end-markets.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-10-12 Balboa Water Group

Costa Mesa, California, United States

Balboa Water Group, Inc. is a manufacturer of customized, critical components for the portable spa, jetted bath, and other adjacent markets. Headquartered in Costa Mesa, CA, Balboa is a global operation selling into 47 different countries and utilizing a new state-of-the-art manufacturing facility in Baja, Mexico.

Sell $219M
Mergr

Product

Company

Legal