Hammond Kennedy Whitney & Company Mergers and Acquisitions Summary

Private Equity Profile

In the last 3 years, Hammond Kennedy Whitney & Company has acquired 10 companies.

Hammond Kennedy Whitney & Company’s most common sectors for investment are business services (17%) and consumer products (11%). The Firm’s most common investment types include buyout (lbo, mbo, mbi) (53%) and recapitalization (36%). In total, Hammond Kennedy Whitney & Company has invested in 18 US states and 2 different countries.

In the last 3 years, Hammond Kennedy Whitney & Company has exited 6 companies. The Firm’s most common exit type is trade sale (50%). Hammond Kennedy Whitney & Company’s largest (disclosed) exit occurred in 2011 when it sold FURminator for $140M.

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M&A Summary

  • M&A Total Activity80
    • M&A Buy Activity48
    • M&A Sell Activity32
  • Total Sectors Invested 19
  • Total Countries Invested 2
  • M&A Buy/Sell Connections 26
  • M&A Advisors 7

Hammond, Kennedy, Whitney & Company, Inc.

8888 Keystone Crossing, Suite 600,
Indianapolis, Indiana 46240
United States
(317) 574-6900
www.hkwinc.com
info@hkwinc.com

Hammond Kennedy Whitney & Company (HKW) is a private equity firm focused on making control investments in mid-sized, 'market leading' companies generating sales of $20 to $200 million. HKW looks for companies with low risk for technological obsolescence, defined growth strategies, and talented management who want to own equity. Target transaction situations include industry consolidations, corporate divestitures, generational changes in ownership, growth equity, management buy-outs and recapitalizations. HKW prefers North American based opportunities. HKW dates back to 1903, however the Firm transitioned from sole to institutional investors in 2001. The Firm has offices in Indianapolis and New York City.


Investment Criteria

Sectors of Interest: Aerospace, Automotive, Business Services, Consumer Products, Distribution, Energy Services and Equipment, Engineering, Healthcare Services, Machinery, Manufacturing, Marketing, Medical Products, Packaging, Plastics, Transportation

Target Transaction Types: Buyout (LBO, MBO, MBI), Consolidation, Divestiture, Growth Capital, Recapitalization

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

Transaction Criteria Min Max
Target Revenue 20 200
Target EBITDA 5 30
Investment Size - -
Enterprise Value 20 150
values in millions of USD

M&A Summary

Buy vs Sell

Year ≤ '15 '16 '17 '18 '19 '20 T
Buy (2.6/yr) # 35 3 3 4 2 1 48
Sell (1.8/yr) # 23 3 3 2 1 - 32
vol $158M $132M $290M
  80

Most Recent M&A

Company Date Value Type
Infab Corp. 2020-04-08 - Buyout (LBO, MBO, MBI)
Camarillo, California · www.infabcorp.com
Traductions Serge Bélair, Inc. 2019-12-03 - Recapitalization
Montreal, Quebec · www.trsb.com
John M. Floyd & Associates, Inc. 2019-11-18 - Buyout (LBO, MBO, MBI)
Houston, Texas · www.jmfa.com
Gatekeeper Systems, Inc. 2019-10-30 - Secondary Buyout
Irvine, California · www.gatekeepersystems.com
Fresh Direct Produce LLC 2018-12-10 - Buyout (LBO, MBO, MBI)
Vancouver, British Columbia · www.freshdirectproduce.com
Urban Armor Gear LLC 2018-08-27 - Buyout (LBO, MBO, MBI)
Laguna Niguel, California · www.urbanarmorgear.com
Indigo Wild LLC 2018-08-10 - Buyout (LBO, MBO, MBI)
Kansas City, Missouri · www.indigowild.com
Proact Services Corp. 2018-06-20 132M USD Add-on Acquisition
Ludington, Michigan · www.proact-usa.com
Specialized Desanders, Inc. 2018-03-21 - Secondary Buyout
Calgary, Alberta · www.desanders.com
Certified Tracking Solutions 2018-01-01 - Add-on Acquisition
Edmonton, Alberta · www.titangps.ca
View All >>

Portfolio M&A

Company Acquired Add-On/Sale Date #
Fresh Direct Produce LLC 2018-12-10 Mike And Mike's Inc. 2020-07-07 3
Vancouver, British Columbia · www.freshdirectproduce.com Woodbridge, Ontario · www.mikeandmikesorganics.com
Xirgo Technologies LLC 2016-12-01 Owl Cameras, Inc. (Owlcam) 2020-03-12 2
Camarillo, California · www.xirgotech.com Palo Alto, California · www.owlcam.com
Fresh Direct Produce LLC 2018-12-10 Islands West Manufacturing Ltd. 2019-09-12 2
Vancouver, British Columbia · www.freshdirectproduce.com Victoria, British Columbia · www.islandswestmanufacturesltd.com
Fresh Direct Produce LLC 2018-12-10 Emperor Speciality Foods Ltd. 2019-07-18 1
Vancouver, British Columbia · www.freshdirectproduce.com Richmond, British Columbia · www.emperorspecialtyfoods.com
Xirgo Technologies LLC 2016-12-01 UAB Baltic Car Equipment Ltd. 2019-06-19 1
Camarillo, California · www.xirgotech.com Kaunas, Lithuania · www.bce.lt
GCR, Inc. 2017-12-21 STR LLC - Software & Disaster Recovery Services 2019-02-13 2
New Orleans, Louisiana · www.gcrincorporated.com Fairfax, Virginia
GCR, Inc. 2017-12-21 MB3, Inc. 2018-07-19 1
New Orleans, Louisiana · www.gcrincorporated.com Orlando, Florida · www.mb3online.com
PANOS brands LLC 2016-01-29 Walden Farms, Inc. 2017-02-17 1
Saddle Brook, New Jersey · www.panosbrands.com Linden, New Jersey · www.waldenfarms.com
Royal Camp Services Ltd. 2011-11-23 Summit Catering Ltd 2014-10-22 1
Edmonton, Alberta · www.royalcamp.com Smithers, British Columbia · www.summitcamps.ca

M&A by Sector

Sector Current # Value All-time # Value
Business Services 4 (27%) - 8 (17%) -
Consumer Products 3 (20%) - 5 (10%) -
Distribution 2 (13%) - 4 (8%) -
Machinery - - 4 (8%) -
Medical Products 1 (7%) - 4 (8%) -
Technology Hardware 1 (7%) - 4 (8%) -
Aerospace - - 3 (6%) -
Software 3 (20%) - 3 (6%) -
Energy Services and Equipment - - 2 (4%) -
Manufacturing - - 2 (4%) -
Automotive - - 1 (2%) -
Environmental - - 1 (2%) -
Food 1 (7%) - 1 (2%) -
Information Technology - - 1 (2%) -
Marketing - - 1 (2%) -
Plastics - - 1 (2%) -
Retail - - 1 (2%) -
Test/Measurement Equipment - - 1 (2%) -
Transportation - - 1 (2%) -
Total 15 - 48 -

Acquisitions By Geo

State/Country Current # Value All-time # Value
United States 10 (67%) - 39 (81%) -
  California 4 (27%) - 8 (17%) -
  Indiana - - 6 (13%) -
  Texas 1 (7%) - 4 (8%) -
  North Carolina 1 (7%) - 2 (4%) -
  New Jersey 1 (7%) - 2 (4%) -
  Missouri 1 (7%) - 2 (4%) -
  Florida 1 (7%) - 2 (4%) -
  Michigan - - 2 (4%) -
  Maine - - 2 (4%) -
  Louisiana 1 (7%) - 1 (2%) -
  Wisconsin - - 1 (2%) -
  Tennessee - - 1 (2%) -
  Pennsylvania - - 1 (2%) -
  Oregon - - 1 (2%) -
  Nevada - - 1 (2%) -
  Illinois - - 1 (2%) -
  Colorado - - 1 (2%) -
  Arizona - - 1 (2%) -
Canada 5 (33%) - 9 (19%) -
  Alberta 2 (13%) - 3 (6%) -
  Ontario 1 (7%) - 3 (6%) -
  British Columbia 1 (7%) - 2 (4%) -
  Quebec 1 (7%) - 1 (2%) -
Domestic 10 (67%) - 39 (81%) -
Cross-border 5 (33%) - 9 (19%) -
Total 15 - 48 -

Acquisitions by Deal Type

Type Current # Value All-time # Value
Buyout (LBO, MBO, MBI) 7 (47%) - 25 (52%) -
Recapitalization 5 (33%) - 17 (35%) -
Secondary Buyout 2 (13%) - 4 (8%) -
Add-on Acquisition 1 (7%) - 1 (2%) -
Divestiture - - 1 (2%) -
Total 15 - 48 -

Exits by Deal Type

Type Total # Value
Secondary Sale 16 (50%) -
Trade Sale 11 (34%) 290M (100%)
Trade Sale - Public Company 5 (16%) -
Total 32 $290M

Top M&A Advisors

Financial Deals
Lincoln International
 3
Cain Brothers & Co. LLC
 1
Cowen Group, Inc.
 1
Legal Deals
Taft Stettinius & Hollister LLP
 7
Sutton, Pakfar & Courtney LLP
 1

Deal Values

sell # Total
$100M to $1B 2 $272M
< $100M 1 $18M
TOTAL $290M
Largest FURminator, Inc.
$140M (2011-12-22)

M&A Connections

Deals %
Acquired from
PE Firm(s)
88%
7 88%
Strategic(s)
13%
1 13%
Exited to
PE Firm(s)
57%
21 57%
Strategic(s)
43%
16 43%

Investor Summary

Size

Middle-Market

Established

2001

Specialist/Generalist

Generalist

Leadership

Ted Kramer

President & CEO

Jeffrey Wood

Senior Partner

Constantine Rakkou

CFO & CCO

Mike Foisy

Lead Operations Partner

Luke Phenicie

Lead Transaction Partner

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