M&A Deal Summary

Compass Diversified Acquires American Furniture Manufacturing

On September 4, 2007, private equity firm Compass Diversified acquired furniture company American Furniture Manufacturing from Hampshire Equity Partners and Hunt Investment Group for 93M USD

Acquisition Highlights
  • This is Compass Diversified’s 1st transaction in the Furniture sector.
  • This is Compass Diversified’s 13th largest (disclosed) transaction.
  • This is Compass Diversified’s 9th transaction in the United States.
  • This is Compass Diversified’s 1st transaction in Mississippi.
Investment Fate
  • American Furniture Manufacturing was sold to management in 2015 for 24M USD.

M&A Deal Summary

Date 2007-09-04
Target American Furniture Manufacturing
Sector Furniture
Buyer(s) Compass Diversified
Sellers(s) Hampshire Equity Partners
Hunt Investment Group
Deal Type Secondary Buyout
Deal Value 93M USD
Advisor(s) Piper Jaffray Companies (Financial)

Target

American Furniture Manufacturing

Ecru, Mississippi, United States
website
American Furniture Manufacturing, Inc. is a manufacturer of promotional upholstered residential furniture sold to regional independent retailers, rent-to-own dealers and distributors nationwide.

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Buyer(S) 1

Buyer

Compass Diversified

Westport, Connecticut, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1998
PE ASSETS 3.3B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Compass Diversified is a holding company focused on acquiring controlling interests in profitable small to middle-market businesses in attractive niche industries. Compass generally looks for US-based companies with proven management in place, low technological and/or product obsolescence risk, diverse customers, and EBITDA of at least $20 million. Compass Diversified was founded in 1998 and is headquartered in Westport, Connecticut.


DEAL STATS #
Overall 9 of 25
Sector (Furniture) 1 of 1
Type (Secondary Buyout) 3 of 13
State (Mississippi) 1 of 1
Country (United States) 9 of 24
Year (2007) 3 of 3
Size (of disclosed) 13 of 17
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-03-01 HALO

Sterling, Illinois, United States

HALO is a marketing services platform that distributes promotional products and provides employee recognition services. HALO was founded in 1952 and is headquartered in Sterling, Illinois.

Buy $63M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2008-01-04 Fox Racing Shox

Braselton, California, United States

Fox Racing Shox is a designer, manufacturer and marketer of high end suspension products for mountain bikes, all terrain vehicles, snowmobiles and other off-road vehicles. Fox Racing Shox was founded in 1974 and is based in Braselton, California.

Buy $85M

Seller(S) 2

SELLER

Hampshire Equity Partners

Greenwich, Connecticut, United States

website


Category Private Equity Firm
Founded 1990
PE ASSETS 730M USD
Size Large
Type Sector Agnostic
DESCRIPTION

Hampshire Equity Partners invests in buyouts, recapitalizations, growth financings, consolidations, and corporate restructurings of established public and private companies. Hampshire Equity focuses on investing in companies with annual sales of $25 to $150 million and EBITDA of $3 to $15 million. Hampshire Equity's target investment size is $10 to $25 million. Industries of interest include basic manufacturing, media and telecommunications, specialty retailing, healthcare, business services, and consumer products. Hampshire Equity Partners was formed in 1990 and is based in New York City.


DEAL STATS #
Overall 8 of 11
Sector (Furniture) 1 of 1
Type (Secondary Buyout) 3 of 4
State (Mississippi) 1 of 1
Country (United States) 8 of 11
Year (2007) 3 of 3
Size (of disclosed) 2 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-03-01 Acton Mobile Industries

Baltimore, Maryland, United States

Acton Mobile Industries is a provider of modular space rental services. Acton maintains a fleet of over 10,000 modular units through 17 branches in 11 states. Acton provides leasing and related ancillary services such as site preparation, delivery, installation and maintenance.

Sell $45M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2009-05-14 Kids Outlet

San Diego, California, United States

Based in San Diego, California, Kids Outlet is a rapidly growing retailer of off-price children's apparel. The Company operates 45 stores throughout California, Texas and Arizona, targeting the Hispanic community.

Sell -
SELLER

Hunt Investment Group

Dallas, Texas, United States

Investor Investor

website


Category Asset Manager
Founded 1990
Size Small
Type Sector Agnostic
DESCRIPTION

Hunt Investment Group is the direct investment arm of the Hunt Investment Corporation. Hunt Investment looks to provide equity capital to established, mid-sized companies with revenues between $10 and $25 million. Target opportunities are typically headquartered in the US and require a minimum equity investment of $1 million. HPEG will consider both majority and significant minority ownership positions. Broad areas of interest include consumer products and services, business services, manufacturing and distribution. HPEG will not invest in energy/natural resources, real estate, financial services, healthcare, technology, media, and utilities. Hunt Investment Group is based in Dallas, Texas.


DEAL STATS #
Overall 1 of 3
Sector (Furniture) 1 of 1
Type (Secondary Buyout) 1 of 3
State (Mississippi) 1 of 1
Country (United States) 1 of 3
Year (2007) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-05-24 Ginsey Home Solutions

Swedesboro, New Jersey, United States

Ginsey Home Solutions is a manufacturer and marketer of bath products, including licensed juvenile toilet training and bath products, tub mats and toilet seats. Ginsey Home Solutions was founded in 1952 and is based in Swedesboro, New Jersey.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-11-01 Living Earth

Dallas, Texas, United States

Living Earth is a manufacturer and provider of mulch, compost, and other landscaping materials in the State of Texas. The Company operates thirteen locations, primarily in the metropolitan areas of Dallas and Houston, selling to commercial contractors and nurseries. Living Earth was founded in 1985 and is based in Dallas, Texas.

Buy -