M&A Deal Summary

B. Riley Financial Acquires Targus

On October 19, 2022, B. Riley Financial acquired consumer products company Targus from The Carlyle Group and Prospect Capital Management for 250M USD

Acquisition Highlights
  • This is B. Riley Financial’s 1st transaction in the Consumer Products sector.
  • This is B. Riley Financial’s largest (disclosed) transaction.
  • This is B. Riley Financial’s 7th transaction in the United States.
  • This is B. Riley Financial’s 2nd transaction in California.

M&A Deal Summary

Date 2022-10-19
Target Targus
Sector Consumer Products
Buyer(s) B. Riley Financial
Sellers(s) The Carlyle Group
Prospect Capital Management
Deal Type Add-on Acquisition
Deal Value 250M USD
Advisor(s) O'Melveny & Myers (Legal)

Target

Targus

Anaheim, California, United States
website
Targus is a provider of quality and innovative mobile computer accessories, cases, and bags. Targus was formed in 1983 and is based in Anaheim, California.

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Buyer(S) 1

Buyer

B. Riley Financial

Los Angeles, California, United States

website


Category Company
Founded 1973
Sector Financial Services
Employees1,406
Revenue 1.7B USD (2021)
DESCRIPTION

B. Riley Financial is a provider of financial and business advisory services. B. Riley Financial was incorporated in 1973 and is based in Los Angeles, California.


DEAL STATS #
Overall 7 of 11
Sector (Consumer Products) 1 of 1
Type (Add-on Acquisition) 5 of 8
State (California) 2 of 3
Country (United States) 7 of 10
Year (2022) 1 of 1
Size (of disclosed) 1 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-08-04 272 Capital - Investment Advisory Business

Dallas, Texas, United States

272 Capital's Investment Advisory Business provides a fundamental research approach to long/short investment thesis, specializing in small-cap equity securities.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-02-22 Farber

Toronto, Ontario, Canada

Farber provides corporate restructuring and related advisory services, M&A corporate finance, wealth management, interim management and executive search, human capital advisory, organizational and talent development and related consulting services to corporate clients, entrepreneurs, law firms, lenders, private equity firms, regulators, and investors. Farber was founded in 1979 and is based in Toronto, Ontario.

Buy -

Seller(S) 2

SELLER

The Carlyle Group

Washington, District of Columbia, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1987
PE ASSETS 376.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION
Carlyle's corporate headquarters on Pennsylvania Ave. in Washington, DC.
Carlyle's corporate headquarters on Pennsylvania Ave. in Washington, DC.

The Carlyle Group is a global investment firm that pursues private equity, credit, and real estate investments worldwide. Carlyle's private equity practice practice pursues buyouts, strategic minority equity investments, equity private placements, consolidations and buildups, and growth capital financings. With offices in 19 countries, Carlyle can easily target opportunities throughout North America, Europe, Asia, Australia, the Middle East/North Africa and Latin America. Broad sectors of interest include aerospace, defense, automotive and transportation, consumer, retail, energy and power, financial services, healthcare, industrial, infrastructure, technology services, business services, telecommunications and media. The Carlyle Group was formed in 1987 and is based in Washington DC.


DEAL STATS #
Overall 432 of 443
Sector (Consumer Products) 14 of 14
Type (Add-on Acquisition) 181 of 184
State (California) 33 of 34
Country (United States) 245 of 250
Year (2022) 12 of 13
Size (of disclosed) 84 of 130
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-09-15 Chromalloy

Palm Beach Gardens, Florida, United States

Chromalloy is an independent provider of aftermarket engine parts and repairs to the commercial aerospace, military aerospace, and energy end markets. The Company's capabilities include advanced engineering, design, manufacturing, and repair solutions. Chromalloy has facilities in North America, Europe, and Asia. Chromalloy is based in Palm Beach Gardens, Florida.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-11-01 Ned Stevens

Fairfield, New Jersey, United States

Ned Stevens provides gutter cleaning, soft wash, and other related, non-discretionary residential services, including gutter maintenance, installation, and repair. Ned Stevens was founded in 1965 and is based in Fairfield, New Jersey.

Sell -
SELLER
DESCRIPTION

Prospect Capital Corporation is a publicly traded mezzanine debt and private equity firm that primarily provides non-control financing to support growth, recapitalizations, acquisitions, and development. Prospect will selectively consider control acquisitions by providing multiple levels of the capital structure. Prospect was initially formed in 1988 and went public 2004. The Firm is based in New York City.


DEAL STATS #
Overall 46 of 47
Sector (Consumer Products) 5 of 5
Type (Add-on Acquisition) 17 of 17
State (California) 5 of 5
Country (United States) 45 of 46
Year (2022) 1 of 1
Size (of disclosed) 10 of 13
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-01-03 Magnate Worldwide

Portland, Oregon, United States

Magnate Worldwide is a diversified supply chain management company, comprised of a unique portfolio of complementary, premier logistics providers focused on expedited domestic transportation and global freight forwarding. Magnate Worldwide was founded in 2014 and is based in Portland, Oregon.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-12-13 Shearer’s Foods

Massillon, Ohio, United States

Shearer's Foods is a producer of high-quality seasoned snack foods and related products. Shearer's produces kettle chips. Shearer's Foods was formed in 1974 and is based in Massillon, Ohio.

Sell -