M&A Deal Summary

Farragut Capital Partners Acquires Pharmacal

On September 27, 2018, mezzanine finance firm Farragut Capital Partners acquired consumer products company Pharmacal from Peninsula Capital Partners for 5M USD

Acquisition Highlights
  • This is Farragut Capital Partners’ 5th transaction in the Consumer Products sector.
  • This is Farragut Capital Partners’ largest (disclosed) transaction.
  • This is Farragut Capital Partners’ 68th transaction in the United States.
  • This is Farragut Capital Partners’ 2nd transaction in Wisconsin.
Investment Fate
  • Pharmacal was sold to a financial buyer in 2020.

M&A Deal Summary
Date 2018-09-27
Target Pharmacal
Sector Consumer Products
Buyer(s) Farragut Capital Partners
Sellers(s) Peninsula Capital Partners
Deal Type Secondary Buyout
Deal Value 5M USD

Target

Pharmacal

Jackson, Wisconsin, United States
website
Pharmacal is a manufacturer and distributor of consumer products to the outdoor recreation, first aid, and over-the-counter personal care and hygiene markets. The Company provides private-label products to the leading drug store and big-box retailers in addition to products sold under its own brands, which include MG217 psoriasis products, vH Essentials feminine care products, and Potable Aqua water purification tablets. Pharmacal was founded in 1896 and is based in Jackson, Wisconsin.

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Buyer(S) 1

Buyer

Farragut Capital Partners

Chevy Chase, Maryland, United States

Investor Investor Investor Investor Investor

website

Category Mezzanine Finance Firm
Founded 2011
PE ASSETS 1.7B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Farragut Capital Partners LLC is a private investment firm that provides mezzanine and equity capital to help finance buyouts, generational transfers, growth capital financings, and recapitalizations. The Firm prefers asset-light businesses with unique and defensible market positions, stable business models, and reasonable capital expenditure and working capital needs. Sectors of interest include light and niche manufacturing, business services, distribution & logistics, and media. Farragut's target investment size is $2 to $10 million. Farragut Capital Partners was formed in 2011 and is based in Washington, District of Columbia.

DEAL STATS #
Overall 68 of 86
Sector (Consumer Products) 5 of 6
Type (Secondary Buyout) 6 of 8
State (Wisconsin) 2 of 3
Country (United States) 68 of 86
Year (2018) 2 of 2
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-05-17 Statewide Safety Systems

Irvine, California, United States

Statewide Safety Systems is specialized in the design, manufacture, and installation of active and passive traffic control systems that advise motorists, bicyclists, and pedestrians of roadway hazards including interchanges, intersections, and the location of highway-rail grade crossings. Statewide Safety Systems was founded in 1987 and is based in Irvine, California.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-03-27 AVL Digital Group

Pennsauken, New Jersey, United States

AVL Digital Group is a provider of value-added creative, production, marketing, distribution, website hosting, digital aggregation, and artist revenue management products and services used by independent artists and authors. AVL Digital Group was formed in 1946 and is based in Pennsauken, New Jersey.

Sell -

Seller(S) 1

SELLER

Peninsula Capital Partners

Southfield, Michigan, United States

Investor Investor Investor Investor Investor

website

Category Mezzanine Finance Firm
Founded 1995
PE ASSETS 1.9B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Peninsula Capital Partners is an investment group focused on providing a range of financing solutions to middle-market companies. The Firm is willing to be a minority or control investor and invests across the capital structure. This includes subordinated debt, preferred or common stock. For mezzanine commitments, Peninsula looks to invest $5 to $40 million. For equity transactions, Peninsula looks to invest $2 to $20 million. Peninsula is a generalist investor. Target sectors include manufacturing, industrial service, distribution, consumer products, professional services, retail, applied technology, transportation, food processing and packaging. Peninsula Capital Partners was formed in 1995 and is based in Detroit, Michigan.

DEAL STATS #
Overall 36 of 46
Sector (Consumer Products) 3 of 3
Type (Secondary Buyout) 8 of 14
State (Wisconsin) 2 of 3
Country (United States) 33 of 43
Year (2018) 2 of 2
Size (of disclosed) 5 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-08-06 Walpar

Birmingham, Alabama, United States

Walpar is a designer and fabricator of highway signage structures and other highly-engineered, large-scale fabricated metal structures. Walpar was founded in 1974 and is based in Birmingham, Alabama.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-11-01 American Alloy

Spokane, Washington, United States

American Alloy is a manufacturer of short-run, metal production components, and subassemblies that have an extensive range of fabrication and finishing capabilities. The Company serves customers in the food packaging, aerospace maintenance, repair and overhaul, construction safety equipment, and telecommunications infrastructure industries. American Alloy was founded in 2007 and is based in Spokane, Washington.

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