M&A Deal Summary

Skyview Capital Acquires Passport Foods

On October 21, 2019, private equity firm Skyview Capital acquired food company Passport Foods from Swander Pace Capital

Acquisition Highlights
  • This is Skyview Capital’s 1st transaction in the Food sector.
  • This is Skyview Capital’s 13th transaction in the United States.
  • This is Skyview Capital’s 4th transaction in California.

M&A Deal Summary

Date 2019-10-21
Target Passport Foods
Sector Food
Buyer(s) Skyview Capital
Sellers(s) Swander Pace Capital
Deal Type Secondary Buyout

Target

Passport Foods

Ontario, California, United States
website
Passport Foods is a manufacturer and distributor of internationally-flavored foods to foodservice and retail channels in North America. Today Passport offers over 125 product SKUs across a comprehensive range of authentic, boldly-flavored product categories to food retailers and restaurants around the country. Headquartered in Southern California, Passport Foods has over 170 employees and was founded in 1978.

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Buyer(S) 1

Buyer
DESCRIPTION

Skyview Capital is a private investment firm that targets divestitures of larger public corporations. Skyview focuses primarily on legacy, mature businesses in technology, business services, software, and niche manufacturing. Other areas of interest include networking solutions, information systems, transaction processing, logistics, and supply chain management. Skyview prefers business units located in North America with revenues of at least $10 million. Skyview Capital was formed in 2003 and is based in Los Angeles, California.


DEAL STATS #
Overall 13 of 16
Sector (Food) 1 of 1
Type (Secondary Buyout) 1 of 2
State (California) 4 of 4
Country (United States) 13 of 15
Year (2019) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-11-13 Prynt

San Francisco, California, United States

Prynt reimagines how digital content is shared in the physical world with a smartphone printer/case. In addition to transforming smartphones into a portable instant camera, AR technology adds a hidden video within the photo that is revealed with the Prynt app, bringing Prynt photos to life.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-01-15 Fidelis Cybersecurity

Bethesda, Maryland, United States

Fidelis Cybersecurity is a provider of threat detection, hunting, and response solutions. Fidelis combats the full spectrum of cybercrime, data theft, and espionage by providing full visibility across hybrid cloud / on-prem environments, automating threat and data theft detection, empowering threat hunting and optimizing incident response with context, speed, and accuracy.

Buy -

Seller(S) 1

SELLER

Swander Pace Capital

San Francisco, California, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1996
PE ASSETS 1.3B USD
Size Large
Type Sector Focused
DESCRIPTION

Swander Pace Capital (SPC) is a private equity firm focused on investing in North American middle-market consumer products companies. SPC looks for companies exhibiting strong growth potential and sales of up to $500 million. Specific areas of interest include food/beverage, household products, health living, packaging, personal care, pet products, sporting goods, specialty apparel, and specialty distribution. Prospective investment situations include management-led buyouts, consolidations, divestitures, turnarounds, recapitalizations, and growth capital financings. SPC was formed in 1996 and has offices in San Francisco, California; Bedminster, New Jersey; and Ontario, Canada.


DEAL STATS #
Overall 35 of 41
Sector (Food) 18 of 21
Type (Secondary Buyout) 12 of 15
State (California) 10 of 10
Country (United States) 30 of 34
Year (2019) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-09-17 Café Valley Bakery

Phoenix, Arizona, United States

Café Valley Bakery is a wholesale bakery serving the In-Store Bakery (ISB), Club Store, Mass Merchandise, Foodservice, and Convenience-Store segments. Since its founding in 1986, the company has experienced rapid growth through a combination of product innovation, new customer development, and significant investment in two state-of-the-art production facilities in Phoenix, Arizona, and Marion, Indiana.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-12-02 Voortman Cookies

Burlington, Ontario, Canada

Voortman Cookies Ltd. is a manufacturer of cookies and wafers sold under the Voortman brand. Voortman offers quality cookies, using the finest, hand-selected ingredients. Voortman Cookies Ltd. was founded in 1951 and is based in Burlington, Ontario.

Sell CA$425M