M&A Deal Summary

Compass Diversified Acquires CamelBak Products

On August 24, 2011, private equity firm Compass Diversified acquired consumer products company CamelBak Products from Irving Place Capital, American Capital and Alcentra Capital for 258M USD

Acquisition Highlights
  • This is Compass Diversified’s 2nd transaction in the Consumer Products sector.
  • This is Compass Diversified’s 4th largest (disclosed) transaction.
  • This is Compass Diversified’s 13th transaction in the United States.
  • This is Compass Diversified’s 4th transaction in California.
Investment Fate
  • CamelBak Products was sold to a publicly-traded strategic buyer in 2015 for 413M USD.

M&A Deal Summary

Date 2011-08-24
Target CamelBak Products
Sector Consumer Products
Buyer(s) Compass Diversified
Sellers(s) Irving Place Capital
American Capital
Alcentra Capital
Deal Type Secondary Buyout
Deal Value 258M USD

Target

CamelBak Products

Petaluma, California, United States
CamelBak Products LLC is a provider of personal hydration solutions for outdoor, recreation and military use. The company's products include hydration packs, reusable bottles and individual purification and filtration systems.

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Buyer(S) 1

Buyer

Compass Diversified

Westport, Connecticut, United States

Investor Investor Investor Investor Investor


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 $10 million. Compass Diversified was founded in 1998 and is headquartered in Westport, Connecticut.


DEAL STATS #
Overall 13 of 26
Sector: Consumer Products M&A 2 of 9
Type: Secondary Buyout M&A Deals 5 of 13
State: California M&A 4 of 6
Country: United States M&A 13 of 25
Year: 2011 M&A 1 of 1
Size (of disclosed) 4 of 17
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-09-17 Ergobaby

Los Angeles, California, United States

Ergobaby is a designer, marketer, and distributor of babywearing products travel systems, and accessories. Ergobaby also designs and markets a premium brand of strollers under the Orbit Baby name. Ergobaby was established in 2003 and is based in Los Angeles, California.

Buy $91M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-10-18 Staffmark Holdings

Cincinnati, Ohio, United States

Staffmark is a provider of staffing services in the United States, operating predominantly under the well recognized brand name, 'Staffmark.' Staffmark operates over 300 locations, providing staffing solutions across a comprehensive range of disciplines. Staffmark's customized approach and market-specific knowledge are competitive advantages in a dynamic labor and economic environment.

Sell $295M

Seller(S) 3

SELLER

Irving Place Capital

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1997
PE ASSETS 4.4B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Irving Place Capital (formerly Bear Stearns Merchant Banking) is an independent private equity firm focused on making investments in middle-market companies located in North America and Western Europe. Irving primarily looks for opportunities in the retail, financial services, consumer products and packaging sectors, but will also consider investments in other traditional and service based businesses such as restaurants, transportation/logistics, healthcare, energy, and industrial products/services. The Firm's target investment size is $50 to $250 million of equity capital and EBITDA in excess of $7 million. Prospective transaction situations include traditional management buyouts, growth capital financings, divestitures, consolidations, and recapitalizations. Irving Place is based in New York City.


DEAL STATS #
Overall 22 of 39
Sector: Consumer Products M&A 3 of 4
Type: Secondary Buyout M&A Deals 3 of 12
State: California M&A 3 of 4
Country: United States M&A 18 of 32
Year: 2011 M&A 3 of 3
Size (of disclosed) 6 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-08-03 Alter Moneta

Longueuil, Quebec, Canada

Alter Moneta was established in 1998 as a de novo asset-based equipment finance company with the backing of Caisse de depot et placement du Quebec. Alter Moneta provides collateralized lending, financing and leasing services to middle-market businesses in the trucking and warehousing, construction, manufacturing, and services industries. The Company lends against and finances a wide range of new and used revenue-producing, essential-use equipment including cranes, trailers, and trucks.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-01-01 cabi

Compton, California, United States

cabi is a direct seller of women’s apparel and accessories with nearly 3,500 independent stylists who conduct shows in the homes of more than 78,000 hostesses throughout the U.S., U.K., and Canada. cabi was founded in 2002 and is based in Compton, California.

Buy -
SELLER

American Capital


Category Private Equity Firm
Founded 1997
PE ASSETS 22.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

American Capital was a publicly traded buyout and mezzanine investment firm. American Capital invested in buyouts, growth capital financings, acquistion financings, and recapitalizations. The Firm looked to finance businesses with at least $4 million in EBITDA and valued between $20 and $500 million. American Capital ws a generalist firm with broad interest in traditional industries such as manufacturing, distribution, and services. American Capital's European investment affiliate is European Capital. European Capital looked to invest $10 to $600 million of equity, mezzanine, and/or senior debt in similar opportunities across Europe. American Capital was formed in 1997 and in January 2017, merged with Ares Capital Management.


DEAL STATS #
Overall 128 of 194
Sector: Consumer Products M&A 9 of 13
Type: Secondary Buyout M&A Deals 42 of 71
State: California M&A 22 of 30
Country: United States M&A 125 of 186
Year: 2011 M&A 7 of 12
Size (of disclosed) 24 of 56
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-08-24 Renaissance

Wisconsin Rapids, Wisconsin, United States

Renaissance is a provider of technology-based school improvement and student assessment programs for pre-kindergarten through to senior high (pre-K-12, aged 5-18) schools and districts. The company's products and services, adopted by more than 70,000 schools, are primarily focused on two curriculum areas: reading and mathematics. Renaissance was founded in 1986 and is based in Wisconsin Rapids, Wisconsin.

Buy $440M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-09-02 Value Plastics

Fort Collins, Colorado, United States

Value Plastics, Inc. designs and manufactures over 3,400 plastic tubing components. Major product areas include quick connect fittings (quick disconnect couplings), sanitary fittings or couplers, luer fittings and connectors as well as alternatives to luer fittings, check valves, tubing fittings and connectors up to 1' (25.4 mm) ID, fittings and connectors joining plastic tubing to threaded ports, blood pressure fittings and connectors, and bondable (prototyping) fittings and connectors.

Sell $250M
SELLER

Alcentra Capital

New York, New York, United States

Investor Investor Investor Investor Investor


Category Mezzanine Finance Firm
Founded 1998
PE ASSETS 540M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Alcentra Capital Corporation is the direct investment arm of asset management firm Alcentra. Alcentra capital looks to provide equity and subordinated debt to middle-market companies throughout North America. The Firm looks to invest $5 to $15 million per transaction in profitable companies with $5 to $15 million of EBITDA. Sectors of interest include healthcare, government services, business services, and defense. Alcentra Capital Corporation was formerly known as BNY Mellon-Alcentra Mezzanine Partners. The Group was originally established in 1998 and is based in New York City.


DEAL STATS #
Overall 19 of 40
Sector: Consumer Products M&A 3 of 4
Type: Secondary Buyout M&A Deals 4 of 8
State: California M&A 3 of 5
Country: United States M&A 19 of 38
Year: 2011 M&A 1 of 1
Size (of disclosed) 6 of 12
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-08-11 Acis Offshore

Houston, Texas, United States

Acis Offshore is an international offshore oil field services company dedicated to providing critical products and services. Acis Offshore is based in Houston, Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-09-01 Dentistry for Children P.C.

South Weymouth, Massachusetts, United States

Dentistry for Children operates 13 pediatric dental care centers located in the Southeast U.S. The Company focuses on children’s oral health services by providing a complete range of care, including pediatric dentistry, orthodontics, and oral surgery.

Buy -