M&A Deal Summary

Circle Peak Capital, Quilvest Capital Partners and Prism Capital Acquire Hill & Valley

On August 15, 2005, private equity firm Circle Peak Capital, private equity firm Quilvest Capital Partners and mezzanine finance firm Prism Capital acquired food company Hill & Valley for 30M USD

Acquisition Highlights
  • This is Circle Peak Capital’s 1st, Quilvest Capital Partners’ 2nd and Prism Capital’s 2nd transaction in the Food sector.
  • This is Circle Peak Capital’s 2nd, Quilvest Capital Partners’ 16th and Prism Capital’s 2nd largest (disclosed) transaction.
  • This is Circle Peak Capital’s 1st, Quilvest Capital Partners’ 10th and Prism Capital’s 9th transaction in the United States.
  • This is Circle Peak Capital’s 1st, Quilvest Capital Partners’ 1st and Prism Capital’s 3rd transaction in Illinois.
Investment Fate
  • Hill & Valley was sold to a publicly-traded strategic buyer in 2017.

M&A Deal Summary

Date 2005-08-15
Target Hill & Valley
Sector Food
Buyer(s) Circle Peak Capital
Quilvest Capital Partners
Prism Capital
Deal Type Buyout (LBO, MBO, MBI)
Deal Value 30M USD
Advisor(s) Legacy Capital Advisors (Financial)

Target

Hill & Valley

Rock Island, Illinois, United States
Hill & Valley, Inc. is a baker of sugar free and no-sugar added pies, cookies, and cakes.

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Buyer(S) 3

Buyer

Circle Peak Capital

New York, New York, United States

Investor


Category Private Equity Firm
Founded 2002
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Circle Peak Capital is a private investment firm that makes control investments in mid-sized private companies. Circle Peak looks for opportunities in the consumer, industrial, and financial service sectors with low technology risk and high potential for internal growth. The Firm looks to invest alongside others to support management buyouts, acquisition platforms, and recapitalizations involving junior capital commitments. Circle Peak looks to commit up to $100 million in businesses with up to $500 million in revenue. Circle Peak does not invest in biotech, utilities, oil/gas, high technology, drugs, or transportation companies. Circle Peak Capital was formed in 2002 and is based in New York City.


DEAL STATS #
Overall 1 of 6
Sector (Food) 1 of 1
Type (Buyout (LBO, MBO, MBI)) 1 of 3
State (Illinois) 1 of 1
Country (United States) 1 of 6
Year (2005) 1 of 1
Size (of disclosed) 2 of 2
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2006-01-03 Shari’s Management

Beaverton, Oregon, United States

Shari’s Management Corp. is a 97-unit chain of family-style restaurants. Shari’s Management Corp. offers 24-hour sit-down dining and a broad selection of value-oriented breakfast, lunch and dinner.

Buy $80M
Buyer

Quilvest Capital Partners

Paris, France

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1972
PE ASSETS 7.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Quilvest Capital Partners is the private equity investment arm of asset management firm Quilvest. Quilvest Capital Partners invests in private equity and debt funds as well as makes direct investments. The direct investment group looks for opportunities in the US, Europe, and 'opportunistically' in Asia with a preference for buyout, growth capital, and venture transactions. Quilvest Capital Partners will consider both minority and majority positions. Quilvest Capital Partners was established in 1972 and is based Paris.


DEAL STATS #
Overall 30 of 105
Sector (Food) 2 of 5
Type (Buyout (LBO, MBO, MBI)) 10 of 29
State (Illinois) 1 of 2
Country (United States) 10 of 44
Year (2005) 7 of 9
Size (of disclosed) 16 of 16
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2005-08-01 UTEX

Houston, Texas, United States

UTEX is a designer and manufacturer of highly engineered specialty sealing solutions and downhole consumables used for oil and gas drilling, completion and production, in addition to water management and mining. UTEX was founded in 1940 and is based in Houston, Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2005-10-20 Frans Bonhomme

Joué lès Tours, France

Frans Bonhomme is a provider in the distribution of plastic pipes and fittings. Frans Bonhomme was founded in 1935 and is based in Joué lès Tours, France.

Sell €893M
Buyer

Prism Capital

Chicago, Illinois, United States

Investor Investor Investor Investor


Category Mezzanine Finance Firm
Founded 1999
PE ASSETS 190M USD
Size Small
Type Sector Agnostic
DESCRIPTION

Prism Capital is a licensed SBIC investment firm focused on providing equity and mezzanine capital to lower middle market companies. Prism's Mezzanine practice looks to provide up to $7 million in financing for Midwest based mature industrial companies. Mezzanine capital is typically invested to support internal growth, recapitalizations, mergers, acquisitions and ownership changes. Prism also provides equity of $2 to $15 million through an Opportunity Fund. The Opportunity Fund invests in expansion stage IT companies as well as traditional manufacturing and service businesses with growth opportunities. Prism Capital was formed in 1999 and is based in Chicago, Illinois.


DEAL STATS #
Overall 9 of 24
Sector (Food) 2 of 2
Type (Buyout (LBO, MBO, MBI)) 3 of 10
State (Illinois) 3 of 5
Country (United States) 9 of 24
Year (2005) 1 of 4
Size (of disclosed) 2 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2004-12-09 Bell Automotive Products

Scottsdale, Arizona, United States

Bell Automotive Products, Inc. is a supplier of automotive convenience accessories, which include air fresheners, drink holders, cargo racks, cell phone accessories, license plate frames, seat and steering wheel covers and other products.

Buy $60M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2005-09-01 CDA

Charlotte, North Carolina, United States

CDA is an independent provider of replication, mastering, packaging, and fulfillment services for DVDs and CDs for the business-to-business, consumer, entertainment, and software markets. CDA was founded in 2000 and is based in Charlotte, North Carolina.

Buy -