M&A Deal Summary

American Capital Acquires Future Foods

On July 23, 2004, private equity firm American Capital acquired food company Future Foods from Evolve Capital and Transition Capital Partners for 43M USD

Acquisition Highlights
  • This is American Capital’s 7th transaction in the Food sector.
  • This is American Capital’s 34th largest (disclosed) transaction.
  • This is American Capital’s 116th transaction in the United States.
  • This is American Capital’s 12th transaction in Texas.

M&A Deal Summary

Date 2004-07-23
Target Future Foods
Sector Food
Buyer(s) American Capital
Sellers(s) Evolve Capital
Transition Capital Partners
Deal Type Secondary Buyout
Deal Value 43M USD

Target

Future Foods

Carrollton, Texas, United States
website
Future Foods is a supplier of seafood salads, dips and spreads to grocery stores and other retailers. Future Foods was founded in 1984 and is based in Carrollton, Texas.

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Buyer(S) 1

Buyer

American Capital

website


Category Private Equity Firm
Founded 1997
PE ASSETS 22.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

American Capital was a publicly traded buyout and mezzanine investment firm. American Capital invested in buyouts, growth capital financings, acquistion financings, and recapitalizations. The Firm looked to finance businesses with at least $4 million in EBITDA and valued between $20 and $500 million. American Capital ws a generalist firm with broad interest in traditional industries such as manufacturing, distribution, and services. American Capital's European investment affiliate is European Capital. European Capital looked to invest $10 to $600 million of equity, mezzanine, and/or senior debt in similar opportunities across Europe. American Capital was formed in 1997 and in January 2017, merged with Ares Capital Management.


DEAL STATS #
Overall 119 of 265
Sector (Food) 7 of 12
Type (Secondary Buyout) 17 of 60
State (Texas) 12 of 23
Country (United States) 116 of 253
Year (2004) 17 of 35
Size (of disclosed) 34 of 49
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2004-07-14 Dynisco

Franklin, Massachusetts, United States

Dynisco LLC is a provider of software and highly engineered test, measurement and control technologies utilized in process industries with emerging applications in life science.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2004-07-26 Hopkins Manufacturing

Emporia, Kansas, United States

Hopkins Manufacturing is a manufacturer and marketer of specialized towing products and functional accessories for the automotive and recreational vehicle aftermarket. Hopkins Manufacturing was founded in 1953 and is based in Emporia, Kansas.

Buy -

Seller(S) 2

SELLER

Evolve Capital

Dallas, Texas, United States

Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 2005
Size Small
Type Sector Agnostic
DESCRIPTION

Evolve Capital is a private equity firm focused exclusively on recapitalization investments in growth-oriented service based businesses. Evolve looks companies that are asset light, growing rapidly, and potentially operate in a regulated environment. Target companies typically have trailing EBITDA of $2 to $4 million and are located in the US. Evolve Capital was formed in 2005 and is based in Dallas, Texas.


DEAL STATS #
Overall 1 of 18
Sector (Food) 1 of 1
Type (Secondary Buyout) 1 of 10
State (Texas) 1 of 4
Country (United States) 1 of 18
Year (2004) 1 of 1
Size (of disclosed) 3 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2002-01-08 Network for Medical Communication and Research

Atlanta, Georgia, United States

Network for Medical Communication and Research LLC is a provider of quantitative and qualitative behavioral research services. It specializes in obtaining and analyzing quantitative and qualitative information on changing fields of hematology and oncology research and practice.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2005-03-31 D&S Community Services

Austin, Texas, United States

D&S Community Services emphasizes exceptional quality services and innovation and offers a broad array of home and community-based services specially designed to help individuals with I/DD realize a life of independence and self-determination. D&S Community Services was founded in 1991 and headquartered in Austin, Texas.

Buy -
SELLER

Transition Capital Partners

Southlake, Texas, United States

Investor Investor Investor Investor

website


Category Family Office
Founded 1993
Size Small
Type Sector Agnostic
DESCRIPTION

Transition Capital Partners is a private investment firm focused on leveraged recapitalizations of entrepreneurial service-based businesses. Transition generally looks for high-growth companies with $2 million to $8 million of EBITDA where the firm can help position the company for the next level of growth. Sectors of interest include healthcare services, non-asset based logistics, retail, alternative energy and services, security services, direct marketing, software, branded food/beverage, education, telecom, oil/gas services, and outsourcing. The Firm is affiliated with family office Patterson Thoma Investments. Transition Capital Partners was formed in 1993 and is based in Dallas, Texas.


DEAL STATS #
Overall 4 of 29
Sector (Food) 1 of 1
Type (Secondary Buyout) 1 of 10
State (Texas) 1 of 12
Country (United States) 4 of 29
Year (2004) 1 of 2
Size (of disclosed) 1 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2004-03-01 Baskins Group

Irvine, California, United States

Baskin's is a regional department store retailer with 16 locations offering moderately priced, nationally recognized brand name apparel, boots, shoes, and other accessories such as Wrangler, Justin, Dr. Martin, Red Wing, Carhartt and Polo.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2004-12-01 Tributary Systems

Bedford, Texas, United States

Tributary Systems, Inc (TSI) was the global leader in providing secure storage and virtualization solutions for the high availability (fault-tolerant) Tandem and other enterprise computing platforms. TSI?s fully integrated solutions were designed for the most demanding high availability backup storage environments running mission critical applications. Recognizing that TSI was the current market leader, and that other fault-tolerant systems would eventually be introduced to the market, TCP was able to execute a pricing strategy to generate a very healthy return before managing a designed wind-down of the investment 5 years later.

Sell -