M&A Deal Summary

Oregon Potato Acquires Dickinson Frozen Foods

On May 1, 2011, Oregon Potato acquired food company Dickinson Frozen Foods from Lynwood Capital Partners, Greyrock Capital Group, Century Park Capital Partners and Caltius Structured Capital

Acquisition Highlights
  • This is Oregon Potato’s 1st transaction in the Food sector.
  • This is Oregon Potato’s 1st transaction in the United States.
  • This is Oregon Potato’s 1st transaction in Idaho.

M&A Deal Summary

Date 2011-05-01
Target Dickinson Frozen Foods
Sector Food
Buyer(s) Oregon Potato
Sellers(s) Lynwood Capital Partners
Greyrock Capital Group
Century Park Capital Partners
Caltius Structured Capital
Deal Type Add-on Acquisition

Target

Dickinson Frozen Foods

Eagle, Idaho, United States
website
Dickinson Frozen Foods, Inc. is a provider of frozen roasted potatoes, onions and vegetable blends to large industrial food processors and food service companies.

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Buyer(S) 1

Buyer

Oregon Potato

Boardman, Oregon, United States

website


Category Company
Founded 2000
Sector Food
DESCRIPTION

Oregon Potato Co. grows and processes potatoes, and vegetables and fruits. It offers dehydrated potatoes, flakes, flour, dices, and slices; dehydrofrozen products, including potatoes, carrots, and onions; and blanched and roasted potatoes.


DEAL STATS #
Overall 1 of 1
Sector (Food) 1 of 1
Type (Add-on Acquisition) 1 of 1
State (Idaho) 1 of 1
Country (United States) 1 of 1
Year (2011) 1 of 1

Seller(S) 4

SELLER

Lynwood Capital Partners

Denver, Colorado, United States

website


Category Private Equity Firm
Founded 1989
Size Small
Type Sector Agnostic
DESCRIPTION

Lynwood Capital Partners, Inc. is a private equity firm focused on investments in lower middle-market businesses valued from $1 to $100 million. Lynwood does not have any sector preferences and generally targets 'highly focused companies serving niche markets'. Lynwood will consider both majority or minority ownership and will fund a variety of transaction situations, including, management buyouts, acquisitions, recapitalizations, corporate divestitures, growth financings, startups, and consolidations. Lynwood Capital Partners, Inc. was formed in 1989 and is based in Denver, Colorado.


DEAL STATS #
Overall 2 of 6
Sector (Food) 1 of 1
Type (Add-on Acquisition) 2 of 5
State (Idaho) 1 of 1
Country (United States) 2 of 6
Year (2011) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2008-12-23 Work Options Group

Watertown, Massachusetts, United States

Bright Horizons back-up care programs provide employees of our clients with a safety net for those days when regular dependent care arrangements fall through. Back-up care supplements, rather than replaces, these arrangements and is a comforting emergency alternative when you need it the most. Bright Horizons back-up care is employer sponsored.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-08-15 Chieftain Sand and Proppant

Garland, Arkansas, United States

Chieftain Sand and Proppant LLC is a manufacturer and supplier of frac sand and proppants for natural gas and oil wells, as well as a producer of industrial minerals for specialty markets and aggregates for the construction industry. Chieftain Sand and Proppant was founded in 2009 and is based in Garland, Arkansas.

Buy -
SELLER

Greyrock Capital Group

Walnut Creek, California, United States

Investor Investor Investor Investor Investor

website


Category Mezzanine Finance Firm
Founded 2002
PE ASSETS 350M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Greyrock Capital Group provides mezzanine debt and equity capital to finance buyouts, recapitalizations and growth needs of middle market companies. Greyrock looks to invest between $8 and $40 million of equity and/or junior capital in companies with minimum revenues of $10 million and at least $2 million of EBITDA. Greyrock prefers companies in defensible markets with low cost structures. Greyrock Capital was formed in 2002 and has offices in San Francisco, California; Chicago, Illinois; and Westport, Connecticut.


DEAL STATS #
Overall 10 of 45
Sector (Food) 2 of 3
Type (Add-on Acquisition) 7 of 23
State (Idaho) 1 of 1
Country (United States) 10 of 45
Year (2011) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-05-01 Allstar Magnetics

Vancouver, Washington, United States

Allstar Magnetics is a distributor of hard and soft ferrites and powdered iron cores, bobbins and associated hardware used primarily in power conversion, electromagnetic interference suppression, and filtering and pulse transformation in analog devices. The Company carries over 3,000 product SKU's sold to a wide variety of electronic component manufacturers. Allstar Magnetics was founded in 1989 and is based in Vancouver, Washington.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-05-31 Monroe Engineering

Rochester Hills, Michigan, United States

Monroe Engineering is a distributor of a broad portfolio of custom and standard hardware and component products for original equipment manufacturers, as well as maintenance, repair and operations applications. Monroe Engineering serves customers across a wide range of end markets including aerospace, defense, medical, transportation, consumer goods, building products, and other diversified industrial markets. Monroe Engineering was established in 1968 and is headquartered in Rochester Hills, Michigan.

Buy -
SELLER

Century Park Capital Partners

El Segundo, California, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 2000
PE ASSETS 1.6B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Century Park Capital Partners (CPCP) is a private equity firm that partners with owners and managers to build companies. The Firm targets businesses generating sales of $20 to $100 million and EBITDA of $3 to $15 million. Century Park Capital specializes in facilitating owner liquidity and business expansion through minority and majority recapitalizations, growth financings, management led buyouts, and acquisition financings. CPCP looks to invest $10 to $40 million per transaction. Areas of interest include consumer products, food, education, business services, test/measurement equipment, medical components, pet supplies, packaging, automotive, chemicals, and third party logistics. CPCP was formed in 2000 and is based in Los Angeles with an additional office in Menlo Park, California.


DEAL STATS #
Overall 5 of 15
Sector (Food) 1 of 2
Type (Add-on Acquisition) 3 of 6
State (Idaho) 1 of 1
Country (United States) 5 of 15
Year (2011) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-12-01 Cirtec

Brooklyn Park, Minnesota, United States

Cirtec Medical is a provider of comprehensive medical product design and manufacturing solutions from concept through high-volume finished goods across all therapeutic categories. Cirtec Medical's technically-driven, 130-person team has particular expertise in minimally invasive systems, active and passive implants, and medical electronics. Cirtec Medical was founded in 1986 and is based in Brooklyn Park, Minnesota.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-12-14 Packaging Plus

La Mirada, California, United States

Packaging Plus is an integrated, single-source provider of packaging solutions. The company's products and services include thermoforming, injection molding and contract packing.

Sell -
SELLER

Caltius Structured Capital

Los Angeles, California, United States

Investor Investor Investor Investor Investor

website


Category Mezzanine Finance Firm
Founded 1997
PE ASSETS 1.4B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Caltius Structured Capital is an investment firm focused on providing junior debt and minority equity to lower middle-market companies throughout North America. The Firm looks to invest between $7 to $50 million in companies with revenues of $15 to $250 million. The Firm pursues a variety of transaction types, including management buyouts, growth financings, and acquisition financings. Sectors of interest include business services, consumer products/services, healthcare services, manufacturing, tech-enabled services, and staffing. Caltius Structured Capital was formed in 1997 and is based in Los Angeles, California.


DEAL STATS #
Overall 13 of 32
Sector (Food) 2 of 2
Type (Add-on Acquisition) 4 of 10
State (Idaho) 2 of 3
Country (United States) 13 of 32
Year (2011) 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-01-19 Vantage Mobility International

Phoenix, Arizona, United States

Vantage Mobility International is a designer, manufacturer, distributor and marketer of vehicle accessibility products, including van conversions, stowage lifts and accessories for wheelchair and scooter users. Vantage Mobility International was founded in 1987 and is based in Phoenix, Arizona.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-07-10 BrightHeart Veterinary Centers

Armonk, New York, United States

BrightHeart Veterinary Centers is a national network of advanced-care specialty/emergency veterinary hospitals across the U.S. and Canada.

Sell $50M