Blackstreet Capital Management Mergers and Acquisitions Summary

Private Equity Profile

Blackstreet Capital Management’s most common sectors for investment are consumer services (12%) and apparel/textiles (9%). The Firm’s most common investment types include buyout (lbo, mbo, mbi) (58%) and divestiture (15%). In total, Blackstreet Capital Management has invested in 13 US states and 4 different countries. Its largest (disclosed) acquisition occurred in 1999 when it acquired IX Europe for $135M.

The Firm’s most common exit type is trade sale (32%). Blackstreet Capital Management’s largest (disclosed) exit occurred in 2012 when it sold Cadum International SA for $260M.

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M&A Summary

  • M&A Total Activity54
    • M&A Buy Activity35
    • M&A Sell Activity19
  • Total Sectors Invested 20
  • Total Countries Invested 4
  • M&A Buy/Sell Connections 15

Blackstreet Capital Management LLC

5425 Wisconsin Avenue, Suite 701,
Chevy Chase, Maryland 20815
United States
(240) 223-1330
www.blackstreetcapital.com
info@blackstreetcapital.com

Blackstreet Capital is a private equity firm focused on control buyouts of under-performing corporate orphans with $25 to $150 million in revenue. Industries of interest include niche manufacturing, distribution, specialty retail, education and training, healthcare services and devices, and restaurants. Blackstreet invests up to $15 million of equity capital in businesses valued up to $75 million. Blackstreet's average holding period is three to five years. Blackstreet Capital(formerly Milestone Capital Management was founded in 2003 and is based in Bethesda, Maryland.


Investment Criteria

Sectors of Interest: Agriculture, Apparel/Textiles, Building Materials, Business Services, Communications, Construction, Consumer Products, Consumer Services, Distribution, Education, Financial Services, Food, Franchising, Healthcare Services, Manufacturing, Marketing, Media, Medical Products, Publishing, Restaurants, Retail

Target Transaction Types: Buyout (LBO, MBO, MBI), Consolidation, Divestiture, Growth Capital, Special Situations/Distressed, Acquisition Financing, Secondary Buyout

Geographic Preferences: East US, Midwest US, South US, West US

Transaction Criteria Min Max
Target Revenue 25 150
Target EBITDA - -
Investment Size - 15
Enterprise Value - 75
values in millions of USD

M&A Summary

Buy vs Sell

Year ≤ '15 '16 '17 '18 '19 '20 T
Buy (0.2/yr) # 34 1 - - - - 35
vol $712M $712M
Sell (0.2/yr) # 18 1 - - - - 19
vol $518M $518M
  54

Most Recent M&A

Company Date Value Type
Ice World Maryland LLC 2016-09-30 - Growth Capital
, Maryland
American Combustion Industries, Inc. 2016-02-24 - Sold to Management
Brentwood, Maryland · www.aciindustries.com
Interfloor Group Ltd. 2015-09-23 100M GBP Add-on Acquisition
Rossendale, United Kingdom · www.interfloor.com
Advanced Workstations in Education, Inc. 2015-04-14 - Special Situations/Distressed
Chester, Pennsylvania · www.awelearning.com
Compre Holdings Ltd. 2015-02-02 - Secondary Buyout
London, United Kingdom · www.compre-group.com
ITX SA 2013-01-14 - Buyout (LBO, MBO, MBI)
Geneva, Switzerland · www.itx-ge.com
Territory Ahead Apparel, Inc. 2012-08-01 - Divestiture
Santa Barbara, California · www.territoryahead.com
Measurement Technology Group, Inc. 2012-05-01 - Special Situations/Distressed
Greenwood, South Carolina · www.redsealmeasurement.com
Cadum International SA 2012-04-27 260M USD Add-on Acquisition
Paris, France · www.cadum.fr
Debt Line 2012-01-01 - Buyout (LBO, MBO, MBI)
Bournemouth, United Kingdom · www.debt-line.net
View All >>

Portfolio M&A

Company Acquired Add-On/Sale Date #
Winncare Group 2004-02-05 Mangar Health Ltd. 2018-12-14 2
Paris, France · www.winncare.fr Wales, United Kingdom · www.mangarhealth.com
Winncare Group 2004-02-05 Mangar International Ltd. 2018-12-14 1
Paris, France · www.winncare.fr Wales, United Kingdom · www.mangar.co.uk
Rauch Industries, Inc. 2004-04-15 Jay Strongwater LLC 2017-08-23 1
Gastonia, North Carolina New York, New York · www.jaystrongwater.com
Distinctive Apparel, Inc. 2011-11-01 Chasing Fireflies LLC 2016-11-21 2
Milford, Massachusetts Seattle, Washington · www.chasing-fireflies.com
Distinctive Apparel, Inc. 2011-11-01 TravelSmith Outfitters, Inc. 2016-11-21 1
Milford, Massachusetts Novato, California · www.travelsmith.com

M&A by Sector

Sector Current # Value All-time # Value
Consumer Services 2 (13%) - 4 (11%) -
Healthcare Services - - 3 (9%) 82M (12%)
Financial Services 1 (7%) - 3 (9%) 46M (6%)
Apparel/Textiles 3 (20%) - 3 (9%) -
Consumer Products 3 (20%) - 3 (9%) -
Communications 1 (7%) - 2 (6%) 135M (19%)
Building Materials - - 2 (6%) 129M (18%)
Restaurants - - 2 (6%) 121M (17%)
Leisure 1 (7%) - 2 (6%) 43M (6%)
Education - - 1 (3%) 87M (12%)
Energy Services and Equipment - - 1 (3%) 69M (10%)
Construction - - 1 (3%) -
Digital Media - - 1 (3%) -
Environmental - - 1 (3%) -
Food - - 1 (3%) -
Media 1 (7%) - 1 (3%) -
Medical Products 1 (7%) - 1 (3%) -
Plastics - - 1 (3%) -
Software 1 (7%) - 1 (3%) -
Test/Measurement Equipment 1 (7%) - 1 (3%) -
Total 15 - 35 $712M

Acquisitions By Geo

State/Country Current # Value All-time # Value
United States 11 (73%) - 16 (46%) -
  Maryland 1 (7%) - 3 (9%) -
  South Carolina 2 (13%) - 2 (6%) -
  Pennsylvania 1 (7%) - 1 (3%) -
  North Carolina 1 (7%) - 1 (3%) -
  Missouri 1 (7%) - 1 (3%) -
  Massachusetts 1 (7%) - 1 (3%) -
  Georgia 1 (7%) - 1 (3%) -
  California 1 (7%) - 1 (3%) -
  Utah 1 (7%) - 1 (3%) -
  Texas 1 (7%) - 1 (3%) -
  Kentucky - - 1 (3%) -
  Illinois - - 1 (3%) -
  Colorado - - 1 (3%) -
United Kingdom 1 (7%) - 11 (31%) 408M (65%)
France 2 (13%) - 5 (14%) 82M (13%)
Switzerland 1 (7%) - 3 (9%) 135M (22%)
Domestic 11 (73%) - 16 (46%) -
Cross-border 4 (27%) - 19 (54%) 626M (100%)
Total 15 - 35 $626M

Acquisitions by Deal Type

Type Current # Value All-time # Value
Buyout (LBO, MBO, MBI) 7 (47%) - 20 (57%) 462M (74%)
Divestiture 3 (20%) - 5 (14%) -
Special Situations/Distressed 4 (27%) - 4 (11%) -
Secondary Buyout - - 3 (9%) 163M (26%)
Acquisition Financing - - 1 (3%) -
Consolidation - - 1 (3%) -
Growth Capital 1 (7%) - 1 (3%) -
Total 15 - 35 $626M

Exits by Deal Type

Type Total # Value
Trade Sale 7 (37%) 66M (13%)
Trade Sale - Public Company 6 (32%) 452M (87%)
Secondary Sale 2 (11%) -
Sold to Management 2 (11%) -
IPO 1 (5%) -
Unknown 1 (5%) -
Total 19 $518M

Deal Values

buy # Total
$100M to $1B 2 $265M
< $100M 7 $448M
TOTAL $712M
Largest IX Europe plc
$135M (1999-07-01)
sell # Total
$100M to $1B 2 $360M
< $100M 2 $158M
TOTAL $518M
Largest Cadum International SA
$260M (2012-04-27)

M&A Connections

Deals %
Acquired from
PE Firm(s)
33%
2 33%
Strategic(s)
67%
4 67%
Exited to
PE Firm(s)
45%
5 45%
Strategic(s)
55%
6 55%

Investor Summary

Size

Small

PE Assets

200M USD

Established

2003

Specialist/Generalist

Generalist

Leadership

Murry Gunty

Founder & Managing Partner

Kevin Kuby

Managing Director

Robert Dragonette

CFO

David Hartman

Principal

Ryan Scott

Vice President

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