M&A Deal Summary

Jefferies Capital Partners and Bruckmann Rosser Sherrill Acquires The Sheridan Group

On August 21, 2003, Jefferies Capital Partners and private equity firm Bruckmann, Rosser, Sherrill & Co., Inc. acquired business services company The Sheridan Group, Inc. from Arrowhead Investment Management and BancBoston Capital, Inc. for 142M USD

Acquisition Highlights
  • This is Jefferies Capital Partners’ 1st and Bruckmann Rosser Sherrill’s 1st transaction in the Business Services sector.
  • This is Jefferies Capital Partners’ 4th and Bruckmann Rosser Sherrill’s 5th largest (disclosed) transaction.
  • This is Jefferies Capital Partners’ 6th and Bruckmann Rosser Sherrill’s 18th transaction in the United States.
  • This is Jefferies Capital Partners’ 1st and Bruckmann Rosser Sherrill’s 1st transaction in Maryland.

M&A Deal Summary

Date 2003-08-21
Target The Sheridan Group, Inc.
Sector Business Services
Buyer(s) Jefferies Capital Partners
Bruckmann, Rosser, Sherrill & Co., Inc.
Sellers(s) Arrowhead Investment Management
BancBoston Capital, Inc.
Deal Type Secondary Buyout
Deal Value 142M USD

Target

The Sheridan Group, Inc.

Hunt Valley, Maryland, United States
website
The Sheridan Group, Inc. is a specialty printer offering a full range of printing and value-added support services.

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Buyer(S) 2

Buyer

Jefferies Capital Partners

New York, New York, United States

website


Category Private Equity Firm
Founded 1994
PE ASSETS 850M USD
SizeMiddle-Market
Type Sector Agnostic
DESCRIPTION

Jefferies Capital Partners is a private equity investment firm that seeks to invest in later-stage growth companies, management buyouts, and support of corporate expansion and industry consolidation. The firm makes equity and equity-linked investments between $20 million and $100 million per transaction. Jefferies does not invest in start-ups, early-stage ventures or real estate. The firm seeks companies with revenue between $10 million to $500 million per annum. Jefferies targets companies involved in the following industries: consumer, energy, financial services, healthcare, manufacturing and distribution, media, telecommunications and transportation. Jefferies Capital Partners is based in New York, New York.


DEAL STATS #
Overall 6 of 28
Sector (Business Services) 1 of 3
Type (Secondary Buyout) 1 of 8
State (Maryland) 1 of 1
Country (United States) 6 of 26
Year (2003) 1 of 3
Size (of disclosed) 4 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2003-02-12 CognitiveArts Corp.

Evanston, Illinois, United States

CognitiveArts Corporation - is one of the leading providers of on-line learning solutions through its proprietary learning methodology based on "learning by doing and role-playing".

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2003-09-26 Aurora Trailer Holdings LLC

Chesterfield, Missouri, United States

Aurora Trailer Holdings - is a trailer leasing/rental and wholsale after-market parts distribution company. The leasing operation rents and leases over-the-road truck trailers to a variety of transportation companies, manufacturers and retailers through a network of 30 customer centers located throughout North America. The parts distribution business is a leading marketer of aftermarket and replacement parts and accessories for truck trailers.

Buy -
Buyer

Bruckmann, Rosser, Sherrill & Co., Inc.

New York, New York, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1995
PE ASSETS 1.2B USD
SizeLarge
Type Sector Agnostic
DESCRIPTION

Bruckmann, Rosser, Sherrill & Co. (BRS) is a New York based private equity investment firm that specializes in management buyouts and recapitalizations of middle market companies with strong market positions and growth potential. Broad sectors of interest include consumer goods and services which includes restaurants, packaged food, specialty retailing, leisure activities, home furnishing, textiles and apparel; commercial and industrial goods and services which includes equipment manufacturing, industrial and construction equipment rental, and production of basic industrial materials and components; and healthcare which includes pharmaceutical manufacturing and distribution, hospital and alternate care services and equipment rental. BRS looks for opportunities based in the US valued between $50 and $250 million. BRS was formed in 1995 and is based in New York City.


DEAL STATS #
Overall 18 of 46
Sector (Business Services) 1 of 1
Type (Secondary Buyout) 1 of 7
State (Maryland) 1 of 3
Country (United States) 18 of 41
Year (2003) 2 of 2
Size (of disclosed) 5 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2003-02-12 Remington Arms Company LLC

Madison, North Carolina, United States

Remington designs, produces and sells sporting goods products for the hunting and shooting sports markets, as well as military, government and law enforcement markets. Founded in 1816 in upstate New York, the Company is one of the US' oldest operating manufacturer.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2004-01-01 Eurofresh, Inc.

Willcox, Arkansas, United States

Eurofresh, Inc. is a year-round producer of hydroponically grown, pesticide-free, premium greenhouse tomatoes. Founded in 1990, Eurofresh has one of the most experienced management teams in the industry and is a leader in the North American hydroponic greenhouse tomato market. The Company currently produces beefsteak tomatoes and tomatoes-on-the-vine which are sold directly to supermarkets as well as wholesale distributors.

Sell -

Seller(S) 2

SELLER

Arrowhead Investment Management

Greenwich, Connecticut, United States

Investor Investor Investor Investor Investor

website


Category Mezzanine Finance Firm
Founded 1996
SizeMiddle-Market
Type Sector Agnostic
DESCRIPTION

Arrowhead Investment Management is a provider of subordinated debt, preferred stock and non-control common equity to mid-sized businesses. Arrowhead invests alongside private equity sponsors in acquisitions, buyouts, recapitalizations and growth capital transactions. Arrowhead is a generalist investor, however the Firm tends to focus on healthcare, packaging, chemicals, consumer products, industrial manufacturing, value-added distribution and business services. Arrowhead looks to commit $10 to $100 million in transactions valued up to $500 million. Arrowhead Investment Management was formed in 1996 and is based in Greenwich, Connecticut.


DEAL STATS #
Overall 2 of 24
Sector (Business Services) 1 of 1
Type (Secondary Buyout) 1 of 14
State (Maryland) 1 of 1
Country (United States) 2 of 24
Year (2003) 1 of 2
Size (of disclosed) 5 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2003-07-01 Meineke Car Care Centers, Inc.

Charlotte, North Carolina, United States

Meineke Car Care Centers provides oil change and car maintenance services in Canada and the United States.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2003-11-01 MW Industries, Inc.

Rosemont, Illinois, United States

MW Industries, Inc. is a manufacturer of products that make machines, engines, and complex sub-assemblies work harder, better, longer, and faster. Our full line of industrial springs, fasteners, machined parts, and flat-stamped spring-related products are engineered for peak performance and made from the world's best materials. Innovation and value are the linchpins of our company and no one in the industry can match our manufacturing capabilities and reputation for quality.

Buy -
SELLER

BancBoston Capital, Inc.

Boston, Massachusetts, United States

website


Category Private Equity Firm
Founded 1959
SizeMiddle-Market
Type Sector Agnostic
DESCRIPTION

BancBoston Capital was the private equity investment arm of FleetBoston Financial. The subsidiary invested equity and mezzanine financing to support a wide range of buyouts and other growth-related investments. BancBoston was formed in 1959 and is based in Boston and is no longer actively investing.


DEAL STATS #
Overall 1 of 2
Sector (Business Services) 1 of 1
Type (Secondary Buyout) 1 of 1
State (Maryland) 1 of 1
Country (United States) 1 of 2
Year (2003) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2000-06-01 Arrival Communications, Inc.

Bakersfield, California, United States

Arrival is a profitable facilities-based competitive local exchange carrier, offering a full array of integrated communications services to business customers. Arrival targets business customers in underserved markets throughout Central California, a fast-growing region characterized by a large concentration of small and medium-sized enterprises.

Buy $13M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2006-12-07 Arrival Communications, Inc.

Bakersfield, California, United States

Arrival is a profitable facilities-based competitive local exchange carrier, offering a full array of integrated communications services to business customers. Arrival targets business customers in underserved markets throughout Central California, a fast-growing region characterized by a large concentration of small and medium-sized enterprises.

Sell -