M&A Deal Summary

Hillcrest Capital Partners Acquires Premier Restaurant Equipment Company

On December 1, 2012, private equity firm Hillcrest Capital Partners acquired retailer Premier Restaurant Equipment Company

Acquisition Highlights
  • This is Hillcrest Capital Partners’ 1st transaction in the Retail sector.
  • This is Hillcrest Capital Partners’ 4th transaction in the United States.
  • This is Hillcrest Capital Partners’ 3rd transaction in Minnesota.
Investment Fate
  • Premier Restaurant Equipment Company was sold to a strategic buyer in 2016.

M&A Deal Summary
Date 2012-12-01
Target Premier Restaurant Equipment Company
Sector Retail
Buyer(s) Hillcrest Capital Partners
Deal Type Buyout (LBO, MBO, MBI)
Advisor(s) Fredrikson & Byron PA (Legal)

Target

Premier Restaurant Equipment Company

Minneapolis, Minnesota, United States
website
Premier Restaurant Equipment Company LLC is a provider of foodservice design services and dealer of heavy commercial kitchen equipment, fixtures, millwork and furniture. Premier provides equipment to venues with food and beverage needs such as restaurants, casinos, senior care and healthcare facilities, airports, hotels, schools, prisons and convention centers.

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Buyer(S) 1

Buyer

Hillcrest Capital Partners

Minneapolis, Minnesota, United States

Investor Investor

website

Category Private Equity Firm
Founded 2002
Size Small
Type Sector Agnostic
DESCRIPTION

Hillcrest Capital Partners is a Midwest private equity firm focused on lower middle-market acquisitions in the Midwest US. The Firm targets businesses generating sales of $6 to $20 million and EBITDA of $1 to $3 million. Hillcrest typically looks to acquire controlling interests in family-owned businesses or companies where the founder is looking for liquidity. Hillcrest does not have any sector preferences, as long as the market is stable/growing and non-regulated. Hillcrest does not invest in turnarounds or venture investments. Hillcrest Capital was formed in 2002 and is based in Minneapolis, Minnesota.

DEAL STATS #
Overall 4 of 5
Sector (Retail) 1 of 1
Type (Buyout (LBO, MBO, MBI)) 4 of 5
State (Minnesota) 3 of 3
Country (United States) 4 of 5
Year (2012) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-06-01 Bedford Technology

Worthington, Minnesota, United States

Bedford Technology is a manufacturer of recycled plastic products, including lumber, pilings, site furnishings (benches, seats, and tables), signs, and a variety of other products. Bedford Technology was founded in 1998 and is based in Worthington, Minnesota.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-04-01 Forsythe Appraisals

St. Paul, Minnesota, United States

Forsythe Appraisals LLC is an independently owned residential real estate appraisal company in the country. Forsythe Appraisals’ growth strategy has been to open new appraisal offices across the country, and the Company currently operates over 35 branch offices nationwide, serving 24 states.

Sell -
Mergr

Product

Company

Legal