M&A Deal Summary

Compass Diversified Acquires Sterno Products

On October 13, 2014, private equity firm Compass Diversified acquired consumer products company Sterno Products from Westar Capital for 163M USD

Acquisition Highlights
  • This is Compass Diversified’s 3rd transaction in the Consumer Products sector.
  • This is Compass Diversified’s 9th largest (disclosed) transaction.
  • This is Compass Diversified’s 16th transaction in the United States.
  • This is Compass Diversified’s 5th transaction in California.

M&A Deal Summary

Date 2014-10-13
Target Sterno Products
Sector Consumer Products
Buyer(s) Compass Diversified
Sellers(s) Westar Capital
Deal Type Secondary Buyout
Deal Value 163M USD

Target

Sterno Products

Corona, California, United States
website
Sterno Products is a provider of tabletop light and chafing fuel products segments of foodservice equipment industry. The Company has provided the foodservice industry with quality candle lamps, clear liquid wax, and high performance chafing fuels for over a quarter of a century. Sterno Products was established in 1997 and is based in Corona, California.

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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 16 of 25
Sector (Consumer Products) 3 of 8
Type (Secondary Buyout) 8 of 13
State (California) 5 of 7
Country (United States) 16 of 24
Year (2014) 2 of 2
Size (of disclosed) 9 of 17
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-08-07 Clean Earth

Hatboro, Pennsylvania, United States

Clean Earth, Inc. is a provider of environmental services for a variety of contaminated materials including soils, dredged materials, and hazardous waste and drill cuttings. The company analyzes, treats, documents, and recycles waste streams generated in multiple end-markets such as power, construction, oil & gas, infrastructure, industrial, and dredging. Treatment includes thermal desorption, dredged material stabilization, bioremediation, physical treatment/screening, and chemical fixation. Clean Earth was established in 1990 and is based in Hatboro, Pennsylvania.

Buy $243M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-07-13 Manitoba Harvest

Winnipeg, Manitoba, Canada

Fresh Hemp Foods Ltd. (Manitoba Harvest) is a provider of food products. Manitoba Harvest’s 100% all-natural product lineup includes hemp hearts, hemp protein powder, and hemp snacks and is currently carried in about 16,000 retail locations across the U.S. and Canada.

Buy CA$132M

Seller(S) 1

SELLER

Westar Capital

Costa Mesa, California, United States

website


Category Private Equity Firm
Founded 1987
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Westar Capital LLC was a private investment firm focused on acquiring established middle-market growth companies in partnership with management. Westar also sought to provide equity financing for corporate expansions, restructurings, acquisitions, and fund shareholder liquidity needs. Westar Capital LLC was established in 1987 and was based in Costa Mesa, California.


DEAL STATS #
Overall 12 of 12
Sector (Consumer Products) 4 of 4
Type (Secondary Buyout) 4 of 4
State (California) 8 of 8
Country (United States) 12 of 12
Year (2014) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-01-24 Petmate

Arlington, Texas, United States

Petmate is a supplier of a wide variety of non-food pet products to leading retailers. The Company’s diverse product line includes crates and carriers, outdoor shelters, feeding and watering, and a wide selection of innovative toys. The Company’s portfolio of branded toys and licensed products includes ChuckIt!®, JW Pet®, and Jackson Galaxy® which lead the industry in innovative interactive products. Petmate serves the market through a multi-channel approach which includes big box pet retailers, mass merchandisers, major e-commerce retailers, farm and ag stores, and specialty pet stores. Petmate was founded in 1959 and is based in Arlington, Texas.

Sell -