Fenway Partners Mergers and Acquisitions Summary

Private Equity Profile

Fenway Partners’ most common sectors for investment are transportation (35%) and consumer products (30%). The Firm’s most common investment types include secondary buyout (45%) and buyout (lbo, mbo, mbi) (40%). In total, Fenway Partners has invested in 10 US states and 2 different countries. Its largest (disclosed) acquisition occurred in 1998 when it acquired Simmons Bedding for $500M.

In the last 3 years, Fenway Partners has exited 1 company. The Firm’s most common exit type is secondary buyout (36%). Fenway Partners’ largest (disclosed) exit occurred in 2003 when it sold Simmons Bedding for $1.1B.

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M&A Summary

  • M&A Total Activity34
    • M&A Buy Activity20
    • M&A Sell Activity14
  • Total Sectors Invested 8
  • Total Countries Invested 2
  • M&A Buy/Sell Connections 8
  • M&A Advisors 4

Fenway Partners, Inc.

1251 Avenue of the Americas 17th Floor,
New York, New York 10020
United States,
(212)698-9400
www.fenwaypartners.com
info@fenwaypartners.com

Fenway Partners is a private equity firm focused on investments in the consumer products and transportation/logistics/distribution sectors. Fenway looks for profitable companies with positive cash-flow and 'strong franchises. Prospective companies are generally valued between $100 and $600 million with $15 to $75 million of EBITDA. The Firm's investment horizon is four to six years. Fenway Partners was formed in 1994 and maintains offices in New York City and Los Angeles.


Investment Criteria

Sectors of Interest: Apparel/Textiles, Automotive, Building Materials, Business Services, Construction, Consumer Products, Distribution, E-Commerce, Food, Manufacturing, Retail, Transportation

Target Transaction Types: Buyout (LBO, MBO, MBI), Consolidation, Divestiture, Stake Purchase

Geographic Preferences: East US, Midwest US, South US, West US, Canada

Transaction Criteria Min Max
Target Revenue - -
Target EBITDA 15 75
Investment Size 50 75
Enterprise Value 100 600
values in millions of USD

M&A Summary

Buy vs Sell

Year ≤ '15 '16 '17 '18 '19 '20 T
Buy (0.2/yr) # 19 - - 1 - - 20
vol $1.6B $1.6B
Sell (0.2/yr) # 13 - - - 1 - 14
vol $3.4B $3.4B
  34

Most Recent M&A

Company Date Value Type
Preferred Freezer Services LLC 2019-02-25 - Add-on Acquisition
Chatham, New Jersey · www.preferredfreezer.com
Iconic Group, Inc. 2018-05-25 - Secondary Buyout
Atlanta, Georgia · www.iconicgroup.com
SunTek Holding Co, Inc. 2014-03-13 - Add-on Acquisition
Martinsville, Virginia · www.suntekfilms.com
Consolidated Fastfrate, Inc. 2013-03-18 - Secondary Buyout
Woodbridge, Ontario · www.fastfrate.com
Coach America Group, Inc. 2012-10-22 - Bankruptcy
Dallas, Texas · www.coachamerica.com
Panther Expedited Services, Inc. 2012-06-15 180M USD Add-on Acquisition
Medina, Ohio · www.pantherexpedite.com
1-800-Contacts, Inc. 2012-06-04 900M USD Trade Sale - Public Company
Draper, Utah · www.1800contacts.com
SunTek Holding Co, Inc. 2010-08-09 - Secondary Buyout
Martinsville, Virginia · www.suntekfilms.com
Preferred Freezer Services LLC 2008-06-18 200M USD Secondary Buyout
Chatham, New Jersey · www.preferredfreezer.com
Refrigerated Holdings, Inc. 2007-12-04 - Buyout (LBO, MBO, MBI)
Elizabeth, New Jersey · www.eastcoastwarehouse.com
View All >>

Portfolio M&A

Company Acquired Add-On/Sale Date #
BRG Sports, Inc. 2004-09-01 BRG Sports - Action Sports Business 2016-02-25 1
Scotts Valley, California · www.brgsports.com , United States
Commemorative Brands, Inc. (AAC) 2004-03-01 Gaspard & Sons Ltd. 2015-10-15 1
Dallas, Texas · www.balfour.com Winnipeg, Manitoba · www.gaspard.ca

M&A by Sector

Sector Current # Value All-time # Value
Transportation - - 7 (35%) -
Consumer Products 2 (67%) - 6 (30%) 983M (63%)
Retail - - 2 (10%) 44M (3%)
E-Commerce - - 1 (5%) 340M (22%)
Business Services - - 1 (5%) 200M (13%)
Automotive - - 1 (5%) -
Consumer Services 1 (33%) - 1 (5%) -
Food - - 1 (5%) -
Total 3 - 20 $1.6B

Acquisitions By Geo

State/Country Current # Value All-time # Value
United States 3 (100%) - 18 (90%) 1.6B (100%)
  California 1 (33%) - 4 (20%) 383M (24%)
  Texas 1 (33%) - 4 (20%) -
  Georgia 1 (33%) - 2 (10%) 500M (32%)
  New Jersey - - 2 (10%) 200M (13%)
  Utah - - 1 (5%) 340M (22%)
  Illinois - - 1 (5%) 100M (6%)
  New York - - 1 (5%) 44M (3%)
  Virginia - - 1 (5%) -
  Ohio - - 1 (5%) -
  Massachusetts - - 1 (5%) -
Canada - - 2 (10%) -
  Ontario - - 2 (10%) -
Domestic 3 (100%) - 18 (90%) 1.6B (100%)
Cross-border - - 2 (10%) -
Total 3 - 20 $1.6B

Acquisitions by Deal Type

Type Current # Value All-time # Value
Secondary Buyout 2 (67%) - 9 (45%) 1.2B (75%)
Buyout (LBO, MBO, MBI) 1 (33%) - 8 (40%) 44M (3%)
Going Private - - 1 (5%) 340M (22%)
Divestiture - - 1 (5%) -
Stake Purchase - - 1 (5%) -
Total 3 - 20 $1.6B

Exits by Deal Type

Type Total # Value
Trade Sale - Public Company 6 (43%) 1.2B (35%)
Secondary Sale 5 (36%) 1.8B (53%)
Trade Sale 2 (14%) 400M (12%)
Bankruptcy 1 (7%) -
Total 14 $3.4B

Top M&A Advisors

Financial Deals
Sonenshine Partners
1
J.P. Morgan Securities LLC
1
Legal Deals
Ropes & Gray LLP
3
Lowenstein Sandler LLP
1

Deal Values

buy # Total
$100M to $1B 4 $1.4B
< $100M 2 $144M
TOTAL $1.6B
Largest Simmons Bedding Co.
$500M (1998-07-18)
sell # Total
> $1B 1 $1.1B
$100M to $1B 4 $2.2B
< $100M 2 $134M
TOTAL $3.4B
Largest Simmons Bedding Co.
$1.1B (2003-11-17)

M&A Connections

Deals %
Acquired from
PE Firm(s)
100%
10 100%
Exited to
PE Firm(s)
64%
7 64%
Strategic(s)
36%
4 36%

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