M&A Deal Summary

CI Capital Partners, Northstar Capital and Sentinel Capital Partners Acquires Ovation Brands

On June 6, 2000, private equity firm CI Capital Partners, mezzanine finance firm Northstar Capital LLC and private equity firm Sentinel Capital Partners acquired restaurants company Ovation Brands, Inc. for 665M USD

Acquisition Highlights
  • This is CI Capital Partners’ 1st, Northstar Capital’s 1st and Sentinel Capital Partners’ 3rd transaction in the Restaurants sector.
  • This is CI Capital Partners’ 1st, Northstar Capital’s 1st and Sentinel Capital Partners’ 1st largest (disclosed) transaction.
  • This is CI Capital Partners’ 3rd, Northstar Capital’s 3rd and Sentinel Capital Partners’ 13th transaction in the United States.
  • This is CI Capital Partners’ 1st, Northstar Capital’s 1st and Sentinel Capital Partners’ 1st transaction in Minnesota.

M&A Deal Summary

Date 2000-06-06
Target Ovation Brands, Inc.
Sector Restaurants
Buyer(s) CI Capital Partners
Northstar Capital LLC
Sentinel Capital Partners
Deal Type Buyout (LBO, MBO, MBI)
Deal Value 665M USD

Target

Ovation Brands, Inc.

Eagan, Minnesota, United States
website
Ovation Brands, Inc. (formerly Buffets, Inc.) is a operates a restaurants in the U.S. with 410 restaurants operating under the HomeTown Buffet or Old Country Buffet brand names in 38 states.

Search 161,083 Deals Now

SEARCH BY

  • Buyer Type (PE or Strategic)
  • Deal Size ($10M to $10B+)
  • Sector (60 Sectors)
  • Deal Type
  • Geography
  • & More

Try For Free 7-Day Free Trial

Buyer(S) 3

Buyer

CI Capital Partners

New York, New York, United States

website


Category Private Equity Firm
Founded 1993
SizeLarge
Type Sector Agnostic
DESCRIPTION

CI Capital Partners (formerly Caxton-Iseman Capital) is a private equity investment firm specializing in leveraged buyouts of middle-market companies. CI Capital primarily targets investments in North America and looks to invest between $10 and $150 million of equity capital per transaction. The Firm concentrates on acquiring companies in stable industries with consolidation potential. CI has a particular interest in Business services, Consumer services, Distribution, Transportation & Logistics sectors, and Healthcare Services. CI Capital Partners was founded in 1993 and is based in New York City.


DEAL STATS #
Overall 5 of 29
Sector (Restaurants) 1 of 1
Type (Buyout (LBO, MBO, MBI)) 5 of 22
State (Minnesota) 1 of 3
Country (United States) 3 of 25
Year (2000) 1 of 1
Size (of disclosed) 1 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
1998-08-01 Glass's Information Services Ltd.

Weybridge, United Kingdom

Glass's looking to buy or sell, when trying to uncover genuine and reliable car prices, you could soon be overwhelmed by guesswork and uninformed opinions. Instead, do what 9 out of 10 car dealers do and use Glass’s car valuation guide to discover what that car is really worth. We’re your one-stop car price guide, helping you to buy or sell with confidence using whichever method is most convenient for you.

Sell $206M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2001-09-01 Leisure Link Ltd.

Glasgow, United Kingdom

Leisure Link Solutions was the leading amusement machine owner and manager.

Sell -
Buyer

Northstar Capital LLC

Minneapolis, Minnesota, United States

Investor Investor Investor Investor Investor

website


Category Mezzanine Finance Firm
Founded 1993
PE ASSETS 1.0B USD
SizeLarge
Type Sector Agnostic
DESCRIPTION

Northstar Capital is a mezzanine finance firm that provides junior capital to middle-market companies operating in the value-added distribution, light manufacturing, business services, financial services, education, and specialty healthcare sectors. Northstar's typical investment size is $5 to $30 million in businesses generating sales of $20 to $300 million. Prospective companies have stable cash flows and sustainable margins. Investments typically have maturities of five to eight years. Northstar does not invest in start-ups, real estate development, natural resource exploration, or high technology companies. Northstar Capital was formed in 1993 and is based in Minneapolis, Minnesota.


DEAL STATS #
Overall 3 of 83
Sector (Restaurants) 1 of 1
Type (Buyout (LBO, MBO, MBI)) 3 of 33
State (Minnesota) 1 of 7
Country (United States) 3 of 79
Year (2000) 1 of 1
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
1999-01-01 BSC Ventures LLC

Cincinnati, Ohio, United States

Manufacturer and distributor of specialty envelopes and folders.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2000-08-31 Imperial Plastics, Inc.

Lakeville, Minnesota, United States

Imperial Plastics is a contract injection molder specializing in the production of highly engineered plastic components. Imperial Plastics was founded in 1968 and is based in Lakeville. Minnesota.

Sell -
Buyer

Sentinel Capital Partners

New York, New York, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1995
PE ASSETS 60.0B USD
SizeMega
Type Sector Agnostic
DESCRIPTION

Sentinel Capital Partners is a private equity firm that targets investments in middle-market companies with strong management and 'attractive growth prospects'. Sentinel looks to invest up to $175 million of equity in companies generating EBITDA of up to $65 million. Sectors of interest include business services/outsourcing, consumer products and services, food and restaurants, franchising, and manufacturing. Prospective transaction situations include management buyouts, recapitalizations, corporate divestitures, take-privates, and growth capital financings. Sentinel Capital Partners was formed in 1995 and is based in New York City.


DEAL STATS #
Overall 14 of 84
Sector (Restaurants) 3 of 10
Type (Buyout (LBO, MBO, MBI)) 8 of 27
State (Minnesota) 1 of 4
Country (United States) 13 of 77
Year (2000) 1 of 1
Size (of disclosed) 1 of 15
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2000-01-03 Border Foods, Inc.

Mount Prospect, Illinois, United States

Border Foods, Inc. is a provider of ingredients and packaged food products to the Mexican food industry.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2002-06-14 Alemite LLC

St. Louis, Missouri, United States

Alemite LLC is a designer, manufacturer and marketer of industrial lubrication equipment and components.

Buy $39M