M&A Deal Summary

Brockway Moran & Partners and CHS Capital Acquire Woodstream

On June 18, 2003, private equity firms Brockway Moran & Partners and CHS Capital acquired consumer products company Woodstream from Friend Skoler and Farragut Capital Partners for 100M USD

Acquisition Highlights
  • This is Brockway Moran & Partners’ 2nd and CHS Capital’s 1st transaction in the Consumer Products sector.
  • This is Brockway Moran & Partners’ and CHS Capital’s 3rd largest (disclosed) transaction.
  • This is Brockway Moran & Partners’ 8th and CHS Capital’s 15th transaction in the United States.
  • This is Brockway Moran & Partners’ 1st and CHS Capital’s 2nd transaction in Pennsylvania.
Investment Fate
  • Woodstream was sold to a consortium of financial buyers in 2015.
  • Woodstream was sold to a consortium of financial buyers in 2020.

M&A Deal Summary

Date 2003-06-18
Target Woodstream
Sector Consumer Products
Buyer(s) Brockway Moran & Partners
CHS Capital
Sellers(s) Friend Skoler
Farragut Capital Partners
Deal Type Secondary Buyout
Deal Value 100M USD

Target

Woodstream

Lancaster, Pennsylvania, United States
website
Woodstream is a manufacturer and marketer of a broad portfolio of branded pest control and lawn & garden products, under brands such as Victor, Terro, Perky-Pet, Havahart, Safer, Sweeney’s and Mosquito Magnet, among others. Woodstream was founded in 1832 and is based in Lancaster, Pennsylvania.

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Buyer(S) 2

Buyer

Brockway Moran & Partners

Boca Raton, Florida, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1998
PE ASSETS 1.3B USD
Size Large
Type Sector Agnostic
DESCRIPTION
Brockway Moran's office building in Boca Raton.
Brockway Moran's office building in Boca Raton.

Brockway Moran is a private equity firm that targets investments in privately held businesses, small cap public companies or subsidiaries and divisions of larger enterprises. The firm prefers profitable businesses with margins of at least 10%. Industries of interest include consumer products/services, industrial manufacturing, business services, health and fitness, healthcare, and value-added distribution. Brockway's geographic scope is within the US. Brockway seeks to invest between $15 and $100 million of equity capital in growth-oriented businesses valued between $50 and $300 million. Brockway Moran is based in Boca Raton, Florida.


DEAL STATS #
Overall 8 of 18
Sector (Consumer Products) 2 of 3
Type (Secondary Buyout) 2 of 7
State (Pennsylvania) 1 of 1
Country (United States) 8 of 18
Year (2003) 2 of 2
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2003-03-18 Pennant Foods

San Diego, California, United States

Pennant Foods is a large franchisee of Wendy's quick-service restaurants. Pennant operates 94 Wendy's restaurants in several markets in Southern California and Eastern Tennessee. The Wendy's Old Fashioned Hamburgers concept is the third largest hamburger quick-service restaurant concept, operating over 6,500 restaurants worldwide with system-wide revenues that exceed $7 billion. The company's commitment to operational excellence, its diverse menu offering and the quality of its food differentiate Wendy's from its competitors.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2004-07-06 Global Medical Response

Greenwood Village, Colorado, United States

Global Medical Response is a provider of medical transportation services formed by bringing together Air Medical Group Holdings (AMGH) and American Medical Response (AMR). The company delivers emergency medical and relocation services to patients in their time of need through a fleet of almost 500 air ambulances and 7,000 ground ambulances in the United States, the District of Columbia, and around the world. Global Medical Response was founded in 2004 and is based in Greenwood Village, Colorado.

Buy -
Buyer

CHS Capital

Chicago, Illinois, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1988
PE ASSETS 2.9B USD
Size Large
Type Sector Agnostic
DESCRIPTION

CHS Capital (formerly Code Hennessy & Simmons) is a large private equity firm that targets US based company investments in a variety of sectors. CHS will consider both control and non-control positions in businesses with proven management and strong growth potential. Broad sectors of interest include business services, consumer services, consumer products, distribution, industrial products and infrastructure. The Firm looks for businesses valued from $75 to $300 million. CHS will not invest in venture opportunities or turnaround situations. CHS was formed in 1988 and is based in Chicago, Illinois.


DEAL STATS #
Overall 15 of 42
Sector (Consumer Products) 1 of 1
Type (Secondary Buyout) 2 of 14
State (Pennsylvania) 2 of 2
Country (United States) 15 of 42
Year (2003) 1 of 2
Size (of disclosed) 3 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2003-02-04 Weasler Engineering

West Bend, Wisconsin, United States

Weasler Engineering, Inc. is a manufacturer and distributor of mechanical power transmission products for agricultural and lawn & turf machinery.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2003-07-01 Connor Sports Flooring

Arlington Heights, Illinois, United States

Connor Sports Flooring Corporation manufactures hard maple and synthetic sports flooring systems. The company is headquartered in Arlington Heights, Illinois.

Buy -

Seller(S) 2

SELLER

Friend Skoler

Saddle Brook, New Jersey, United States

website


Category Private Equity Firm
Founded 1998
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Friend Skoler & Co. is a private equity firm that invests in profitable middle-market companies across a range of industries. The Firm looks to commit $10 to $100 million of equity capital in businesses valued between $3 and $20 million. Generally, target companies have at least $10 million in sales and $1 million of EBIT. Sectors of interest include manufacturing, distribution, business services, direct marketing, e-commerce, event photography, digital imaging, retail and branded consumer products companies. The Firm will consider transactions ranging from buyouts and recapitalizations to expansion and acquisition financings. Friend Skoler & Co. was formed in 1998 and is based in Saddle Brook, New Jersey.


DEAL STATS #
Overall 1 of 9
Sector (Consumer Products) 1 of 2
Type (Secondary Buyout) 1 of 5
State (Pennsylvania) 1 of 1
Country (United States) 1 of 8
Year (2003) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
1999-12-03 Woodstream

Lancaster, Pennsylvania, United States

Woodstream is a manufacturer and marketer of a broad portfolio of branded pest control and lawn & garden products, under brands such as Victor, Terro, Perky-Pet, Havahart, Safer, Sweeney’s and Mosquito Magnet, among others. Woodstream was founded in 1832 and is based in Lancaster, Pennsylvania.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2004-07-12 Sapphire Canada

Toronto, Ontario, Canada

Sapphire Canada is a provider of IT recruitment and resource management solutions. It help organizations achieve their goals through improved access to their most important resource talent.

Sell -
SELLER

Farragut Capital Partners

Chevy Chase, Maryland, United States

Investor Investor Investor Investor Investor

website


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 4 of 25
Sector (Consumer Products) 1 of 2
Type (Secondary Buyout) 1 of 5
State (Pennsylvania) 1 of 2
Country (United States) 4 of 25
Year (2003) 2 of 2
Size (of disclosed) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2003-01-01 Raytheon Aerospace

Madison, Mississippi, United States

Raytheon Aerospace is a provides logistical management, aircraft maintenance and other services.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2004-05-28 SmartMail

Forest Park, Georgia, United States

SmartMail LLC is a provider of expedited delivery service for lightweight packages (less than 5 lbs.) and flat-sized mail.

Sell -