M&A Deal Summary

ClearLight Partners Acquires Katzkin Leather Interiors

On July 9, 2007, private equity firm ClearLight Partners acquired consumer products company Katzkin Leather Interiors from Florida Capital Partners and KLH Capital

Acquisition Highlights
  • This is ClearLight Partners’ 1st transaction in the Consumer Products sector.
  • This is ClearLight Partners’ 9th transaction in the United States.
  • This is ClearLight Partners’ 4th transaction in California.

M&A Deal Summary

Date 2007-07-09
Target Katzkin Leather Interiors
Sector Consumer Products
Buyer(s) ClearLight Partners
Sellers(s) Florida Capital Partners
KLH Capital
Deal Type Secondary Buyout

Target

Katzkin Leather Interiors

Montebello, California, United States
website
Katzkin Leather Interiors is a designer, manufacturer, and distributor of made-to-order leather interiors for automobiles and light trucks. Katzkin’s personalized leather interiors can be constructed with more than 100 materials that can be configured with a variety of options – including color, perforation, two-tone, piping, stitching, embroidery, and embossing – resulting in millions of unique combinations. Katzkin’s product line also includes seat-heating components, mobile electronics, and other aftermarket accessories.

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Buyer(S) 1

Buyer

ClearLight Partners

Newport Beach, California, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 2000
PE ASSETS 900M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

ClearLight Partners LLC is a private equity firm that invests in mid-sized companies with strong cash-flow margins and limited capital intensity. ClearLight looks for US and Canadian headquartered companies with annual revenues between $20 and $250 million and EBITDA of $4 and $15 million. ClearLight targets investments across a broad range of industries with a particular interest in specialty manufacturing and distribution, business services, education and training, healthcare services, specialty finance, and consumer products and services. The Firm's target investment size is $10 to $50 million per transaction. ClearLight Partners was formed in 2000 and is based in Newport Beach, California.


DEAL STATS #
Overall 9 of 22
Sector (Consumer Products) 1 of 4
Type (Secondary Buyout) 4 of 7
State (California) 4 of 6
Country (United States) 9 of 22
Year (2007) 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-05-31 TASI

Harrison, Ohio, United States

TASI is a manufacturer of highly-engineered leak test and measurement equipment designed to enhance manufacturing efficiency in the automotive, plastics, industrial and pharmaceutical end markets. TASI is headquartered in Cincinnati, OH and dates back to 1981 when the company was founded as Cincinnati Test Systems.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-10-03 Apple & Eve

Port Washington, New York, United States

Apple & Eve is the privately held producer of 100% fruit juice products in the United States. The company offers more than one hundred different juice products sold under a number of brands including Apple & Eve, Apple & Eve Organics, Sesame Street, Northland, and Seneca. The Company’s products are sold through a variety of channels including grocery, club, mass merchandise, convenience and foodservice.

Buy -

Seller(S) 2

SELLER

Florida Capital Partners

Tampa, Florida, United States

website


Category Private Equity Firm
Founded 1988
PE ASSETS 350M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Florida Capital Partners (FCP) is a private equity firm focused on acquisitions or recapitalizations of profitable private companies located in the continental US. FCP targets businesses with Enterprise value between $20 to $100 million with an EBITDA of $5 to $20 million. FCP prefers companies operating in traditional industries such as niche manufacturering, specialty services, and value-added distribution. FCP avoids investing in commodity products, start-ups, restaurants/hospitality, amusement parks, technology, biotech, retail, and real estate. FCP was formed in 1988 and is based in Tampa, Florida.


DEAL STATS #
Overall 14 of 21
Sector (Consumer Products) 4 of 6
Type (Secondary Buyout) 5 of 10
State (California) 1 of 2
Country (United States) 14 of 21
Year (2007) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2006-12-01 Spectrum

Selmer, Tennessee, United States

Spectrum Corp. is an independent compunder, blender, packager, and marketer of specialty lubricants. Products include 2-cycle and small engine 4-cycle oils, bar and chain oil, and hydraulic fluid, which are commonly used in power lawn and garden equipment.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-07-12 M&R Marking Systems

Piscataway, New Jersey, United States

M&R Marking Systems, Inc. is a manufacturer of self-inking stamps, pre-inked stamps, date stamps, and hand embossing seal presses.

Sell -
SELLER

KLH Capital

Tampa, Florida, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 2005
PE ASSETS 700M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

KLH Capital is a private investment firm focused on smaller company investments in a variety of growing industry sectors. KLH helps provide management teams with capital to facilitate recapitalizations, management buy-outs/buy-ins, family successions, and other ownership transitions. KLH generally pursues companies with $4 to $20 million in pre-tax earnings and will consider opportunities across the US. KLH will not invest in start-ups, high technology, software, biotech, restaurants, retail, real estate development, oil and gas operations, or new construction businesses. KLH Capital is based in Tampa, Florida.


DEAL STATS #
Overall 14 of 29
Sector (Consumer Products) 3 of 5
Type (Secondary Buyout) 5 of 13
State (California) 1 of 1
Country (United States) 14 of 29
Year (2007) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2006-12-01 Spectrum

Selmer, Tennessee, United States

Spectrum Corp. is an independent compunder, blender, packager, and marketer of specialty lubricants. Products include 2-cycle and small engine 4-cycle oils, bar and chain oil, and hydraulic fluid, which are commonly used in power lawn and garden equipment.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-07-12 M&R Marking Systems

Piscataway, New Jersey, United States

M&R Marking Systems, Inc. is a manufacturer of self-inking stamps, pre-inked stamps, date stamps, and hand embossing seal presses.

Sell -