M&A Deal Summary

Brookside Equity Partners Acquires Hillsdale Furniture

On January 24, 2013, private equity firm Brookside Equity Partners acquired furniture company Hillsdale Furniture from Clearview Capital and Ironbridge Capital

Acquisition Highlights
  • This is Brookside Equity Partners’ 3rd transaction in the Furniture sector.
  • This is Brookside Equity Partners’ 31st transaction in the United States.
  • This is Brookside Equity Partners’ 1st transaction in Kentucky.

M&A Deal Summary
Date 2013-01-24
Target Hillsdale Furniture
Sector Furniture
Buyer(s) Brookside Equity Partners
Sellers(s) Clearview Capital
Ironbridge Capital
Deal Type Secondary Buyout
Advisor(s) Greene Holcomb & Fisher LLC (Financial)
Loeb & Loeb (Legal)

Target

Hillsdale Furniture

Louisville, Kentucky, United States
Hillsdale is a designer and importer of residential case goods and accent furniture. Hillsdale sells a broad line of bedroom, dining room, occasional and accent furniture targeting promotional to middle price points. Hillsdale Furniture is based in Louisville, Kentucky.

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Buyer(S) 1

Buyer

Brookside Equity Partners

Stamford, Connecticut, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1977
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Brookside Equity Partners (BEP) focuses on private equity investments, including direct control investments, majority or minority co-investments alongside other investment firms, and, on a selective basis, investments in private funds or special situations. BEP targets North American middle-market companies with revenues greater than $15 million and at least $5 million of EBITDA. Sectors of interest include manufacturing, chemicals, financial services, environmental, food, and distribution. Brookside Equity Partners was formed in 1977 and is based in Stamford, Connecticut.

DEAL STATS #
Overall 31 of 37
Sector (Furniture) 3 of 3
Type (Secondary Buyout) 4 of 6
State (Kentucky) 1 of 1
Country (United States) 31 of 36
Year (2013) 1 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-09-04 Sabre Industries

Alvarado, Texas, United States

Sabre Industries is a producer of highly engineered products used for electric transmission and distribution and wireless telecommunications, offering a complete customer solution with a full range of engineered towers, poles, structures, and related services. The Company's vast array of product offerings, services, and extensive manufacturing capabilities has allowed Sabre to develop leading positions with a high-quality, diversified group of customers including the nation's largest utilities and wireless communications firms.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-06-12 SummitReheis

Huguenot, New York, United States

SummitReheis is a high quality, high margin specialty chemicals platform that produces a range of critical active ingredients and materials tailored for use in personal care, pharmaceutical and dental products. SummitReheis' anti-perspirant actives business (more than 60 per cent. of its sales) is the global leader in the manufacture and sale of active ingredients for anti-perspirants and has long standing relationships with key consumer product companies across the Americas, Europe and Asia.

Buy $66M

Seller(S) 2

SELLER

Clearview Capital

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1999
PE ASSETS 645M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Clearview Capital LLC is a private equity firm that targets investments in North American companies with operating profits between $4 and $20 million. Sectors of interest include general manufacturing, plastics, food processing, furniture, education, healthcare, outsourcing, distribution, oil field services, consumer products, and industrial. The Firm prefers majority investment situations in transaction types that include corporate divestitures, management buyouts, and ownership transfers of closely-held companies. Clearview Capital was formed in 1999 and has offices in Connecticut, California.

DEAL STATS #
Overall 8 of 24
Sector (Furniture) 3 of 3
Type (Secondary Buyout) 5 of 17
State (Kentucky) 1 of 1
Country (United States) 8 of 24
Year (2013) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-12-31 Air Cooled Exchangers

Broken Arrow, Oklahoma, United States

Air Cooled Exchangers LLC based is a manufacturer of air-cooled heat exchangers for natural gas compression systems and other applications.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-07-17 QC Supply

Schuyler, Nebraska, United States

QC Supply is a specialty distributor and solutions provider to swine and poultry markets, as well as to other production and companion animal businesses and professionals. The company offers a broad selection of brand name and proprietary products and “one stop shopping” across three business segments: consumables (items such as rubber gloves and specialty lightbulbs), equipment (systems, such as feeding and climate control, and corresponding replacement parts) and turnkey solutions (design and management of new and retrofit barn construction and the purchase and installation of related equipment). QC Supply was founded in 1982 and is based in Schuyler, Nebraska.

Buy -
SELLER

Ironbridge Capital

Sydney, Australia

Investor Investor Investor

Category Private Equity Firm
Founded 2003
PE ASSETS 1.5B AUD
Size Large
Type Sector Agnostic
DESCRIPTION

Ironbridge Capital is a middle-market private equity firm that targets growth capital and buyout investments in Australia and New Zealand. Ironbridge focuses its investment activity within the services sector and targets businesses with the potential for strong and sustained growth in revenue and profitability. Ironbridge Capital was formed in 2003 and has offices in Sydney and Auckland.

DEAL STATS #
Overall 8 of 13
Sector (Furniture) 1 of 1
Type (Secondary Buyout) 1 of 3
State (Kentucky) 1 of 1
Country (United States) 1 of 1
Year (2013) 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-01-15 EnviroWaste Services

Auckland, New Zealand

EnviroWaste Services Limited delivers EnviroSolutions to address the waste and recycling needs of New Zealand's communities and businesses. Through our integrated, national network of branches, joint ventures and subsidiary companies, EnviroWaste has the capability to manage the progression of waste through each phase of the waste stream.

Sell $422M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-11-29 Global Renewables

Sydney, Australia

Global Renewables operates an Alternative Waste Treatment facility (“AWT”) at Eastern Creek. The AWT processes up to 195,000 tonnes of putrescible municipal waste per annum (to be expanded to 220,000 tonnes this calendar year), and diverts around 60% of waste away from disposal into landfills. The diverted waste is primarily converted into compost. Global Renewables is based in Sydney, Australia.

Sell -
Mergr

Product

Company

Legal