M&A Deal Summary

Advent International, SSM Partners and Farragut Capital Partners Acquire Kirkland s

On June 1, 1996, private equity firm Advent International, growth capital firm SSM Partners and mezzanine finance firm Farragut Capital Partners acquired retailer Kirkland s

Acquisition Highlights
  • This is Advent International’s 3rd, SSM Partners’ 1st and Farragut Capital Partners’ 2nd transaction in the Retail sector.
  • This is Advent International’s 14th, SSM Partners’ 3rd and Farragut Capital Partners’ 6th transaction in the United States.
  • This is Advent International’s 1st, SSM Partners’ 2nd and Farragut Capital Partners’ 1st transaction in Tennessee.
Investment Fate
  • Kirkland s was sold to a financial buyer in 2002.
  • Kirkland s went public in 2002.

M&A Deal Summary

Date 1996-06-01
Target Kirkland s
Sector Retail
Buyer(s) Advent International
SSM Partners
Farragut Capital Partners
Deal Type Recapitalization

Target

Kirkland s

Brentwood, Tennessee, United States
Kirkland's is a retailer of home décor and gifts. Kirkland's was founded in 1966 and is based in Brentwood, Tennessee.

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Buyer(S) 3

Buyer

Advent International

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1984
PE ASSETS 91.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Advent is a global private equity firm that targets investments in North America, Europe, Asia, and Latin America. Advent's emerging market efforts are concentrated in Central Europe and Latin America. Advent seeks transactions valued between $50 million and $5 billion and can commit up to $2 billion of equity capital per investment. Broad areas of interest include business & financial services, retail & consumer, technology, media, & telecoms, healthcare & life sciences, and industrial. Prospective transaction types include buyouts, growth capital financings, take privates, and recapitalizations. Advent was formed in 1984 and is based in Boston, Massachusetts.


DEAL STATS #
Overall 27 of 353
Sector: Retail M&A 3 of 21
Type: Recapitalization M&A Deals 1 of 13
State: Tennessee M&A 1 of 1
Country: United States M&A 14 of 106
Year: 1996 M&A 7 of 10
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
1996-05-01 Tweeter Home Entertainment Group

Canton, Massachusetts, United States

Tweeter Home Entertainment retails mid-to high-end audio and video consumer electronics products. The company sells audio, video, entertainment, and mobile consumer electronics products.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
1996-09-02 Inframetrics

North Billerica, Massachusetts, United States

Inframetrics, Inc. is a manufacturer of Thermography systems and thermal imagers.

Sell $30M
Buyer

SSM Partners

Memphis, Tennessee, United States

Investor Investor Investor Investor Investor


Category Growth Capital Firm
Founded 2004
Size Small
Type Sector Agnostic
DESCRIPTION

SSM Partners is a private equity firm that targets investments in smaller, rapidly growing, private companies based in the Southeast US. Areas of interest include business/outsourcing services, healthcare and consumer services. SSM focuses on transactions requiring $10 to $30 million of equity. Prospective transactions include growth financings, acquisitions, management led buyouts, and recapitalizations. SSM will also consider early-stage opportunities. SSM Partners is based in Memphis, Tennessee.


DEAL STATS #
Overall 3 of 29
Sector: Retail M&A 1 of 1
Type: Recapitalization M&A Deals 1 of 2
State: Tennessee M&A 2 of 5
Country: United States M&A 3 of 29
Year: 1996 M&A 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
1996-03-05 Dazel

Austin, Texas, United States

Dazel Corporation provides Information delivery solutions to printers, fax machines, email and pagers.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
1998-12-01 Tobin International

Houston, Texas, United States

Tobin International is recognized as the leading provider of geo-business information systems utilizing map data and decision support software as well as installation and integration services. Over the past 75 years, Tobin has transformed geo-business information management from a paper-based process to a comprehensive system integrating digital maps, tabular databases, satellite imagery, document management and work flow. Tobin supports a wide variety of professionals responsible for managing location-based assets and related information in the energy, utility, and pipeline industries and government sector.

Buy -
Buyer

Farragut Capital Partners

Chevy Chase, Maryland, United States

Investor Investor Investor Investor Investor


Category Mezzanine Finance Firm
Founded 2011
PE ASSETS 1.7B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Farragut Capital Partners LLC is a private investment firm that provides mezzanine and equity capital to help finance buyouts, generational transfers, growth capital financings, and recapitalizations. The Firm prefers asset-light businesses with unique and defensible market positions, stable business models, and reasonable capital expenditure and working capital needs. Sectors of interest include light and niche manufacturing, business services, distribution & logistics, and media. Farragut's target investment size is $2 to $10 million. Farragut Capital Partners was formed in 2011 and is based in Washington, District of Columbia.


DEAL STATS #
Overall 6 of 98
Sector: Retail M&A 2 of 3
Type: Recapitalization M&A Deals 2 of 16
State: Tennessee M&A 1 of 3
Country: United States M&A 6 of 98
Year: 1996 M&A 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
1995-12-01 Colorado Prime

Farmingdale, New York, United States

Colorado Prime Corporation, also known as Colorado Prime Foods, provides home delivery of food and non-food products in the United States. Its food products include beef, pork, veal, lamb, and poultry products; and prepared gourmet dishes. The company also offers non-food products, which include freezers, microwave ovens, barbecue grills, cookware, china and crystal, stainless flatware, and cutlery; and home entertainment products, such as televisions, camcorders, and personal computers, as well as groceries and household products.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
1996-07-12 Julius Koch USA

New Bedford, Massachusetts, United States

Dominant manufacturer of knitted and braided cord and ladder tape used on window blinds and shades. Supplier to every major U.S. producer of window blinds and pleated shades. The company is a leading supplier to the sunscreening industry, delivering cords, ladder strings, tapes, and other related articles for Venetian blinds and sunscreening products.

Buy -