M&A Deal Summary

Investcorp International and Audax Private Debt Acquire Archway Marketing Services

On July 9, 2012, asset manager Investcorp International and mezzanine finance firm Audax Private Debt acquired marketing company Archway Marketing Services from Black Canyon Capital and Tailwind for 300M USD

Acquisition Highlights
  • This is Investcorp International’s 2nd and Audax Private Debt’s 1st transaction in the Marketing sector.
  • This is Investcorp International’s 19th and Audax Private Debt’s largest (disclosed) transaction.
  • This is Investcorp International’s 56th and Audax Private Debt’s 41st transaction in the United States.
  • This is Investcorp International’s 2nd and Audax Private Debt’s 2nd transaction in Minnesota.

M&A Deal Summary
Date 2012-07-09
Target Archway Marketing Services
Sector Marketing
Buyer(s) Investcorp International
Audax Private Debt
Sellers(s) Black Canyon Capital
Tailwind
Deal Type Secondary Buyout
Deal Value 300M USD
Advisor(s) Davis Polk & Wardwell (Legal)

Target

Archway Marketing Services

Rogers, Minnesota, United States
website
Archway Marketing Services is a provider of end-to-end marketing logistics and fulfillment services, specifically focusing on point-of-sale and point-of-purchase materials, sales literature, product samples, gift cards, and consumer promotions. Archway Marketing Services was founded in 1952 and is based in Rogers, Minnesota.

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Buyer(S) 2

Buyer

Investcorp International

New York, New York, United States

Investor Investor Investor Investor Investor

website

Category Asset Manager
Founded 1982
PE ASSETS 21.4B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Investcorp International, Inc. is a publicly traded global investment group focused on a variety of investment disciplines. Practice areas include private equity in North America and Western Europe, hedge funds, US real estate, technology investments, and Middle Eastern private equity. Within North America/Europe private equity, Investcorp targets market leaders with proven track records. It looks to invest $15 to $50 million in companies with revenues of $10 to $250 million. Investcorp's technology group sponsors growth-oriented control investments in the tech sector. Investcorp's Middle East practice focuses on buyout/build opportunities in North Africa and the Gulf Region. Target sectors include services, infrastructure, manufacturing, and energy. Investcorp was formed in 1982 and is based in Manama, Bahrain.

DEAL STATS #
Overall 96 of 175
Sector (Marketing) 2 of 4
Type (Secondary Buyout) 29 of 57
State (Minnesota) 2 of 3
Country (United States) 56 of 81
Year (2012) 2 of 6
Size (of disclosed) 19 of 35
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-03-19 GL Education

Brentford, United Kingdom

GL Education is an educational multimedia company, publishing innovative, curriculum-based resources for the UK and abroad. It currently supplies more than ninety-five per cent of schools in the UK and exports to more than thirty countries internationally, with a catalogue of over 800 software and hardware products. GL Education was founded in 1980 and is based in Brentford, United Kingdom.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-07-17 Orka Holding

İstanbul, Turkey

Orka Holding is a luxury branded menswear retailers. Orka Holding has become a respected international provider of luxury menswear through its brands Damat, Tween and D'S Damat. Orka Holding's fashion products are sold in more than 250 stores and 40 different countries around the world, including franchises. Orka Holding was founded in 1986 and is based in İstanbul, Turkey.

Buy -
Buyer

Audax Private Debt

New York, New York, United States

Investor Investor Investor Investor Investor

website

Category Mezzanine Finance Firm
Founded 2000
PE ASSETS 5.4B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Audax Mezzanine is the mezzanine finance arm of the Audax Group. The Firm focuses on investing in both private and public, US-based middle market companies with a strong history of cash flows and consistent revenue growth. Audax will consider subordinated mezzanine debt commitments, second lien or junior secured debt, preferred stock and common stock. The Firm seeks to invest in companies valued between $10 and $60 million. Types of transaction include MBOs, LBOs, growth capital financings, acquisition financings, and recapitalizations.

DEAL STATS #
Overall 42 of 66
Sector (Marketing) 1 of 1
Type (Secondary Buyout) 18 of 29
State (Minnesota) 2 of 2
Country (United States) 41 of 64
Year (2012) 1 of 4
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-03-01 UAF

Sauget, Illinois, United States

UAF designs and manufactures custom air filters and EMI shielding products used to protect commercial equipment and electronics enclosures. With exceptional design and application knowledge necessary to satisfy electronics cooling requirements of increasingly powerful and complex equipment. UAF was founded in 1959 and is based in Sauget, Illinois.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-08-15 Alegeus

Waltham, Massachusetts, United States

Alegeus is a provider of benefits administration software, debit cards, and transaction processing solutions for consumer directed healthcare accounts, including flexible spending accounts, health reimbursement arrangements, and health savings accounts. Alegeus was formed in 2012 and is based in Waltham, Massachusetts.

Buy -

Seller(S) 2

SELLER

Black Canyon Capital

Los Angeles, California, United States

Investor Investor

website

Category Private Equity Firm
Founded 2004
PE ASSETS 1.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Black Canyon is a private investment firm that targets both equity and debt/mezzanine related investments in middle-market companies. Sectors of interest include business services, consumer products, financial services, industrial/niche manufacturing, healthcare, media, restaurants, and retail. Black Canyon's target investment size is $25 to $50 million in businesses with at least $5 million of EBITDA. Prospective investment situations can include leveraged buyouts, management buyouts, recapitalizations/refinancings, and growth/acquisition financings. Black Canyon Capital was formed in 2004 and is based in Los Angeles.

DEAL STATS #
Overall 4 of 7
Sector (Marketing) 1 of 1
Type (Secondary Buyout) 2 of 4
State (Minnesota) 1 of 1
Country (United States) 4 of 7
Year (2012) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-11-22 Switchcraft

Chicago, Illinois, United States

Switchcraft, Inc. is a designer and manufacturer of high-performance electronic connectors, cable assemblies, and other value-added products and systems used in diverse applications in the global electronics industry.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-01-31 Malibu Boats

Loudon, Tennessee, United States

Malibu Boats is a designer and manufacturer of sport boats. Malibu Boats was founded in 1982 and is based in Loudon, Tennessee.

Sell -
SELLER

Tailwind

New York, New York, United States

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 2003
PE ASSETS 3.7B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Tailwind is an independent private equity firm focused on making control investments in companies operating in the healthcare, media/communications, and business services sectors. Tailwind looks to invest $25 to $200 million in profitable businesses valued above $500 million. The Firm seeks companies with proven business models and strong opportunities for growth, either organically or through acquisition. Tailwind Capital was formed in 2003 and is based in New York, New York.

DEAL STATS #
Overall 5 of 32
Sector (Marketing) 1 of 1
Type (Secondary Buyout) 2 of 12
State (Minnesota) 1 of 1
Country (United States) 5 of 32
Year (2012) 3 of 3
Size (of disclosed) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-02-22 Freedom Innovations

Irvine, California, United States

Freedom Innovations designs and manufactures advanced technology lower-limb prosthetic devices geared towards amputees with active lifestyles. The Company manufactures its products using 100% carbon-fiber composite materials, maximizing strength and energy return while minimizing weight.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-10-01 West Texas Plastics

Odessa, Texas, United States

West Texas Plastics Ltd. is a plastic fabrication company.

Buy -
Mergr

Product

Company

Legal