Charlesbank Capital Partners Mergers and Acquisitions Summary

Private Equity Profile

In the last 3 years, Charlesbank Capital Partners has acquired 2 companies. It has also invested in 1 other.

Charlesbank Capital Partners’ most common sectors for investment are consumer products (7%) and retail (7%). The Firm’s most common investment types include buyout (lbo, mbo, mbi) (25%) and secondary buyout (25%). In total, Charlesbank Capital Partners has invested in 21 US states and 4 different countries. Its largest (disclosed) acquisition occurred in 2011 when it acquired BJ s Wholesale Club for $2.8B.

In the last 3 years, Charlesbank Capital Partners has exited 6 companies. The Firm’s most common exit type is secondary buyout (35%). Charlesbank Capital Partners’ largest (disclosed) exit occurred in 2015 when it sold Montpelier Re Holdings for $1.8B.

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M&A Summary

  • M&A Total Activity99
    • M&A Buy Activity58
    • M&A Sell Activity41
  • Total Sectors Invested 30
  • Total Countries Invested 4
  • M&A Buy/Sell Connections 46
  • M&A Advisors 18

Charlesbank Capital Partners

200 Clarendon Street, 54th Floor,
Boston, Massachusetts 02116
United States
(617) 619-5400
www.charlesbank.com
mchoe@charlesbank.com

Charlesbank Capital Partners is a private equity firm focused on investing in companies at various stages of development, including private and public companies, distressed situations, as well as later stage high growth businesses. Charlesbank typically invests $50 to $150 million per deal, in companies valued between $150 and $1000 million. Industries of interest include consumer products, distribution, energy, financial services, food, education, health-care products and services, manufacturing, media and communications, and retail. Charlesbank Capital Partners is based in Boston, Massachusetts with an additional office in New York City.


Investment Criteria

Sectors of Interest: Agriculture, Apparel/Textiles, Automotive, Beverages, Building Materials, Business Services, Communications, Consumer Products, Distribution, Education, Electrical Equipment, Energy Services and Equipment, Engineering, Financial Services, Food, Franchising, Healthcare Services, Insurance, Leisure, Machinery, Manufacturing, Media, Medical Products, Oil/Gas Exploration, Packaging, Restaurants, Retail, Technology Hardware, Transportation

Target Transaction Types: Buyout (LBO, MBO, MBI), Divestiture, Growth Capital, Recapitalization, Stake Purchase

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

Transaction Criteria Min Max
Target Revenue - -
Target EBITDA - -
Investment Size 50 150
Enterprise Value 150 1,500
values in millions of USD

M&A Summary

Buy vs Sell

Year ≤ '15 '16 '17 '18 '19 '20 T
Buy (1.6/yr) # 50 - 1 4 1 2 58
vol $7.3B $150M $7.5B
Sell (1.4/yr) # 34 - 2 5 - - 41
vol $6.3B $748M $413M $7.5B
  99

Most Recent M&A

Company Date Value Type
News America Marketing Properties LLC 2020-03-31 - Divestiture
New York, New York · www.newsamerica.com
World Insurance Associates LLC 2020-03-02 - Growth Capital
Tinton Falls, New Jersey · www.worldins.net
WolfePak Software 2019-10-17 - Secondary Buyout
Abilene, Texas · www.wolfepak.com
Plaskolite, Inc. 2018-11-12 - Secondary Buyout
Columbus, Ohio · www.plaskolite.com
Trojan Battery Co. 2018-11-06 - Add-on Acquisition
Santa Fe Springs, California · www.trojanbattery.com
The Rockport Company LLC 2018-07-04 150M USD Special Situations/Distressed
Canton, Massachusetts · www.rockport.com
BJ's Wholesale Club, Inc. 2018-06-28 - IPO
Westborough, Massachusetts · www.bjs.com
Varsity Brands, Inc. 2018-06-19 - Secondary Buyout
Memphis, Tennessee · www.varsity.com
Hearthside Food Solutions LLC 2018-04-17 - Secondary Buyout
Downers Grove, Illinois · www.hearthsidefoods.com
HelpSystems LLC (Help/Systems) 2018-04-04 - Secondary Buyout
Eden Prairie, Minnesota · www.helpsystems.com
View All >>

Portfolio M&A

Company Acquired Add-On/Sale Date #
WolfePak Software 2019-10-17 DocVue 2019-11-19 1
Abilene, Texas · www.wolfepak.com Morrison, Colorado · www.docvue.com
HelpSystems LLC (Help/Systems) 2018-04-04 SecureAuth Corp. - Core Security Solutions 2019-02-06 2
Eden Prairie, Minnesota · www.helpsystems.com Irvine, California
Hearthside Food Solutions LLC 2018-04-17 Greencore USA 2018-10-15 1
Downers Grove, Illinois · www.hearthsidefoods.com , United States
The Rockport Company LLC 2018-07-04 Reef Holdings Corp. 2018-10-04 1
Canton, Massachusetts · www.rockport.com San Diego, California · www.reef.com
American Residential Services LLC 2014-05-06 Gac, Inc. (Goettl Air Conditioning) 2018-08-27 1
Memphis, Tennessee · www.ars.com Tempe, Arizona · www.goettl.com
HelpSystems LLC (Help/Systems) 2018-04-04 Midrange Performance Group, Inc. 2018-08-22 1
Eden Prairie, Minnesota · www.helpsystems.com Boulder, Colorado · www.mpginc.com
Six Degrees Technology Group Ltd. 2015-06-17 Convergent Network Solutions Ltd. (CNS Group) 2018-08-20 3
London , United Kingdom · www.6dg.co.uk London, United Kingdom · www.cnsgroup.co.uk
Ensono 2015-05-20 Inframon Ltd. 2017-06-29 2
Downers Grove, Illinois · www.ensono.com Reading, United Kingdom · www.inframon.com
Ensono 2015-05-20 Attenda Ltd. 2016-09-13 1
Downers Grove, Illinois · www.ensono.com Middlesex, United Kingdom · www.attenda.net
Six Degrees Technology Group Ltd. 2015-06-17 Carrenza Ltd. 2016-04-11 2
London , United Kingdom · www.6dg.co.uk London, United Kingdom · www.carrenza.com

M&A by Sector

Sector Current # Value All-time # Value
Retail - - 4 (7%) 5.9B (78%)
Energy Services and Equipment 2 (11%) - 4 (7%) 220M (3%)
Consumer Products 1 (5%) - 4 (7%) 215M (3%)
Insurance 1 (5%) - 3 (5%) 532M (7%)
Distribution 1 (5%) - 3 (5%) -
Financial Services 2 (11%) - 3 (5%) -
Medical Products 1 (5%) - 3 (5%) -
Restaurants - - 3 (5%) -
Information Technology 2 (11%) 190M (29%) 2 (3%) 190M (3%)
Apparel/Textiles 2 (11%) 150M (23%) 2 (3%) 150M (2%)
Business Services 1 (5%) - 2 (3%) -
Communications - - 2 (3%) -
Education - - 2 (3%) -
Food 1 (5%) - 2 (3%) -
Healthcare Services - - 2 (3%) -
Manufacturing - - 2 (3%) -
Plastics - - 2 (3%) -
Electronics 1 (5%) 305M (47%) 1 (2%) 305M (4%)
Automotive - - 1 (2%) -
Beverages - - 1 (2%) -
Building Materials - - 1 (2%) -
Electrical Equipment - - 1 (2%) -
Internet Software and Services 1 (5%) - 1 (2%) -
Machinery - - 1 (2%) -
Marine - - 1 (2%) -
Marketing 1 (5%) - 1 (2%) -
Media - - 1 (2%) -
Packaging 1 (5%) - 1 (2%) -
Software 1 (5%) - 1 (2%) -
Transportation - - 1 (2%) -
Total 19 $645M 58 $7.5B

Acquisitions By Geo

State/Country Current # Value All-time # Value
United States 18 (95%) 645M (100%) 52 (90%) 4.4B (59%)
  Illinois 3 (16%) 190M (29%) 7 (12%) 405M (5%)
  Massachusetts 2 (11%) 150M (23%) 7 (12%) 3.0B (39%)
  New York 3 (16%) - 6 (10%) 525M (7%)
  California 1 (5%) 305M (47%) 5 (9%) 305M (4%)
  Tennessee 1 (5%) - 4 (7%) -
  Texas 1 (5%) - 3 (5%) 220M (3%)
  Kentucky 2 (11%) - 2 (3%) -
  Missouri 1 (5%) - 2 (3%) -
  Oklahoma 1 (5%) - 2 (3%) -
  Colorado - - 2 (3%) -
  North Carolina - - 2 (3%) -
  New Jersey 1 (5%) - 1 (2%) -
  Minnesota 1 (5%) - 1 (2%) -
  Delaware 1 (5%) - 1 (2%) -
  Michigan - - 1 (2%) -
  Florida - - 1 (2%) -
  Arizona - - 1 (2%) -
  Wisconsin - - 1 (2%) -
  Virginia - - 1 (2%) -
  Pennsylvania - - 1 (2%) -
  Ohio - - 1 (2%) -
Canada - - 3 (5%) 2.6B (34%)
  Ontario - - 1 (2%) 2.6B (34%)
  New Brunswick - - 1 (2%) -
  British Columbia - - 1 (2%) -
Bermuda - - 2 (3%) 532M (7%)
United Kingdom 1 (5%) - 1 (2%) -
Domestic 18 (95%) 645M (100%) 52 (90%) 4.4B (59%)
Cross-border 1 (5%) - 6 (10%) 3.1B (41%)
Total 19 $645M 58 $7.5B

Acquisitions by Deal Type

Type Current # Value All-time # Value
Buyout (LBO, MBO, MBI) 1 (5%) - 14 (24%) 747M (10%)
Secondary Buyout 8 (42%) - 14 (24%) -
Stake Purchase 3 (16%) - 10 (17%) 2.6B (34%)
Divestiture 2 (11%) 190M (29%) 8 (14%) 935M (12%)
PIPE 2 (11%) - 3 (5%) -
Going Private 1 (5%) 305M (47%) 2 (3%) 3.1B (41%)
Special Situations/Distressed 1 (5%) 150M (23%) 2 (3%) 150M (2%)
Growth Capital 1 (5%) - 2 (3%) -
Recapitalization - - 2 (3%) -
Venture - - 1 (2%) -
Total 19 $645M 58 $7.5B

Exits by Deal Type

Type Total # Value
Secondary Sale 14 (34%) 2.3B (30%)
Trade Sale 9 (22%) 655M (9%)
Trade Sale - Public Company 7 (17%) 2.7B (37%)
IPO 7 (17%) -
Merger 1 (2%) 1.8B (24%)
Bankruptcy 1 (2%) -
Recapitalization 1 (2%) -
Unknown 1 (2%) -
Total 41 $7.5B

Top M&A Advisors

Financial Deals
Houlihan Lokey
 2
Jefferies LLC
 2
Evercore Group LLC
 1
Legal Deals
Goodwin Procter LLP
 12
PwC Law LLP
 2
Ropes & Gray LLP
 2

Deal Values

buy # Total
> $1B 2 $5.4B
$100M to $1B 7 $2.1B
TOTAL $7.5B
Largest BJ's Wholesale Club, Inc.
$2.8B (2011-06-29)
sell # Total
> $1B 2 $3.3B
$100M to $1B 9 $4.1B
< $100M 1 $60M
TOTAL $7.5B
Largest Montpelier Re Holdings Ltd.
$1.8B (2015-03-31)

M&A Connections

Deals %
Acquired from
PE Firm(s)
81%
26 81%
Strategic(s)
19%
6 19%
Exited to
PE Firm(s)
58%
19 58%
Strategic(s)
42%
14 42%

Investor Summary

Size

Mega

PE Assets

5.0B USD

Established

1998

Specialist/Generalist

Generalist

Leadership

Michael Eisenson

Co-Founder, Managing Director, CEO & Co-Chairman

Tim Palmer

Co-Founder, Managing Director & COO

Mark Rosen

Co-Founder & Advisory Director

Michael Thonis

Co-Founder & Senior Advisor

Kim G. Davis

Co-founder, Managing Director and Co-Chairman

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