Freeman Spogli Mergers and Acquisitions Summary

Private Equity Firm Profile

In the last 3 years, Freeman Spogli has acquired 2 companies. It has also invested in 2 others.

Freeman Spogli’s most common sectors for investment areretail (36%) and business services (11%) . The Firm’s most common investment types include secondary buyout (38%) and buyout (lbo, mbo, mbi) (30%). In total, Freeman Spogli has invested in 19 US states. Its largest (disclosed) acquisition occurred in 2006 when it acquired Petco Health and Wellness Company for $1.8B.

In the last 3 years, Freeman Spogli has exited 3 companies. The Firm’s most common exit type is trade sale (32%). Freeman Spogli’s largest (disclosed) exit occurred in 2015 when it sold Petco Health and Wellness Company for $4.6B.

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M&A Summary

  • M&A Total Activity72
    • M&A Buy Activity47
    • M&A Sell Activity25
  • Total Sectors Invested 17
  • Total Countries Invested 1
  • M&A Buy/Sell Connections 24
  • M&A Advisors 9

Freeman Spogli

Freeman Spogli & Co.

11100 Santa Monica Blvd Suite 1900,
Los Angeles, California 90025
United States
(310) 444-1822
www.freemanspogli.com
IR@freemanspogli.com

Freeman Spogli & Co. is a private equity firm focused on acquiring middle-market retail, direct marketing, and distribution companies. The Firm will consider opportunities throughout North America and prefers partnering with management when pursuing acquisitions. Freeman Spogli looks to invest $75 to $300 million in transactions valued up to $750 million. Freeman Spogli was formed in 1983 and is based in Los Angeles, California with an additional office in New York City.


Investment Criteria

Sectors of Interest: Consumer Products, Consumer Services, Distribution, E-Commerce, Healthcare Services, Machinery, Manufacturing, Restaurants, Retail

Target Transaction Types: Buyout (LBO, MBO, MBI), Divestiture, Growth Capital, Secondary Buyout, Stake Purchase

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

Transaction Criteria Min Max
Target Revenue - -
Target EBITDA 10 75
Investment Size 75 300
Enterprise Value 100 750
values in millions of USD

M&A Summary

Buy vs Sell

Year ≤ '19 '20 '21 '22 '23 '24 T
Buy (1.6/yr) # 39 4 2 1 1 - 47
vol $4.4B $4.4B
Sell (0.8/yr) # 21 1 3 - - - 25
vol $8.0B $532M $414M $8.9B
  72

Most Recent M&A

Company Date Value Type
Infinity Home Services LLC 2023-01-11 - Secondary Buyout
New Berlin, Wisconsin · www.infinityhomeservices.com
EverVet Partners 2022-08-16 - Growth Capital
Conshohocken, Pennsylvania · www.evervetpartners.com
Osprey Packs, Inc. 2021-11-29 414M USD Trade Sale
Cortez, Colorado · www.osprey.com
Arhaus LLC 2021-11-03 - IPO
Boston Heights, Ohio · www.arhaus.com
Propelled Brands 2021-03-30 - Buyout (LBO, MBO, MBI)
Carrollton, Texas · www.propelledbrands.com
FASTSIGNS International, Inc. 2021-03-30 - Trade Sale
Carrollton, Texas · www.fastsigns.com
NearU Services 2021-01-06 - Growth Capital
Charlotte, North Carolina · www.nearu-services.com
Green Garden Products LLC 2020-12-31 532M USD Trade Sale
Norton, Massachusetts · www.greengarden.com
Brooklinen, Inc. 2020-03-03 - Growth Capital
Brooklyn, New York · www.brooklinen.com
Galco Industrial Electronics, Inc. 2020-02-04 - Secondary Buyout
Madison Heights, Michigan · www.galco.com
View All >>

Portfolio M&A

Company Acquired Add-On/Sale Date #
Easy Ice LLC 2020-01-08 Armadillo Services - Ice Machine Leasing Division 2024-11-01 17
Marquette, Michigan · www.easyice.com Amarillo, Texas
CRH Healthcare LLC 2018-12-18 CRH Healthcare - Urgent Medcare 2024-10-16 1
Atlanta, Georgia · www.crhhealthcare.com Atlanta, Georgia
Easy Ice LLC 2020-01-08 Norm's Refrigeration & Ice Equipment - Ice Machine Service and Leasing Division 2024-10-01 16
Marquette, Michigan · www.easyice.com Anaheim, California
Easy Ice LLC 2020-01-08 Roxboro Refrigeration - Leasing Division 2024-01-04 15
Marquette, Michigan · www.easyice.com Roxboro, North Carolina
Easy Ice LLC 2020-01-08 OBCO Chemical - Ice machine division 2023-09-15 14
Marquette, Michigan · www.easyice.com North Charleston, South Carolina
Easy Ice LLC 2020-01-08 San Diego Ice Company - Ice Machine Division 2023-02-13 13
Marquette, Michigan · www.easyice.com San Diego, California
Kamps Pallets, Inc. 2020-01-14 Realm Companies LLC 2022-11-03 3
Grand Rapids, Michigan · www.kampspallets.com Newton, Iowa · www.realminc.net
Easy Ice LLC 2020-01-08 ICEsurance, Inc. 2022-03-10 12
Marquette, Michigan · www.easyice.com Mamaroneck, New York · www.icesurance.com
Easy Ice LLC 2020-01-08 Brooks Industries - Ice Maker Leasing Division 2022-02-25 11
Marquette, Michigan · www.easyice.com Oklahoma City, Oklahoma
Propelled Brands 2021-03-30 FASTSIGNS International, Inc. 2021-03-30 3
Carrollton, Texas · www.propelledbrands.com Carrollton, Texas · www.fastsigns.com

M&A by Sector

Sector Current # Value All-time # Value
Retail 2 (10%) - 17 (35%) 2.8B (64%)
Business Services 3 (15%) - 5 (10%) 340M (8%)
Consumer Services 3 (15%) - 4 (8%) -
Distribution 2 (10%) - 4 (8%) -
Restaurants 3 (15%) - 4 (8%) -
Consumer Products 1 (5%) - 3 (6%) -
Real Estate - - 1 (2%) 750M (17%)
Apparel/Textiles - - 1 (2%) 500M (11%)
Construction 1 (5%) - 1 (2%) -
Financial Services - - 1 (2%) -
Food 1 (5%) - 1 (2%) -
Healthcare Services 1 (5%) - 1 (2%) -
Machinery 1 (5%) - 1 (2%) -
Manufacturing 1 (5%) - 1 (2%) -
Marketing - - 1 (2%) -
Media - - 1 (2%) -
Transportation 1 (5%) - 1 (2%) -
Total 20 - 48 $4.4B

Acquisitions By Geo

State/Country Current # Value All-time # Value
United States 20 (100%) - 48 (100%) 4.4B (100%)
  Texas 3 (15%) - 6 (13%) 750M (17%)
  California 1 (5%) - 6 (13%) 2.1B (48%)
  Tennessee 2 (10%) - 4 (8%) -
  New York 1 (5%) - 4 (8%) 200M (5%)
  North Carolina 1 (5%) - 4 (8%) -
  Michigan 3 (15%) - 3 (6%) -
  Ohio 1 (5%) - 3 (6%) 500M (11%)
  Georgia 1 (5%) - 3 (6%) -
  Wisconsin 2 (10%) - 2 (4%) -
  Florida 1 (5%) - 2 (4%) -
  Colorado 1 (5%) - 2 (4%) -
  Indiana - - 2 (4%) -
  Utah 1 (5%) - 1 (2%) -
  Pennsylvania 1 (5%) - 1 (2%) -
  New Hampshire 1 (5%) - 1 (2%) -
  Washington - - 1 (2%) 550M (12%)
  Minnesota - - 1 (2%) 277M (6%)
  Rhode Island - - 1 (2%) -
  Massachusetts - - 1 (2%) -
Total 20 - 48 $4.4B

Acquisitions by Deal Type

Type Current # Value All-time # Value
Secondary Buyout 8 (40%) - 18 (38%) 1.7B (38%)
Buyout (LBO, MBO, MBI) 4 (20%) - 14 (29%) 200M (5%)
Growth Capital 6 (30%) - 9 (19%) -
Recapitalization 1 (5%) - 4 (8%) -
Going Private - - 2 (4%) 2.6B (58%)
Stake Purchase 1 (5%) - 1 (2%) -
Total 20 - 48 $4.4B

Exits by Deal Type

Type Total # Value
Secondary Sale 7 (28%) 4.6B (51%)
IPO 7 (28%) -
Trade Sale - Public Company 5 (20%) 1.8B (20%)
Trade Sale 4 (16%) 915M (10%)
Recapitalization 1 (4%) 1.6B (18%)
Bankruptcy 1 (4%) -
Total 25 $8.9B

Top M&A Advisors

Financial Deals
Jefferies
 1
William Blair
 1
Harris Williams
 1
Legal Deals
Morgan Lewis
 8
Ropes & Gray
 3
Bingham McCutchen LLP
 1

Deal Values

buy # Total
> $1B 1 $1.8B
$100M to $1B 6 $2.6B
TOTAL $4.4B
Largest Petco Health and Wellness Company, Inc.
$1.8B (2006-07-14)
sell # Total
> $1B 2 $6.2B
$100M to $1B 6 $2.7B
TOTAL $8.9B
Largest Petco Health and Wellness Company, Inc.
$4.6B (2015-11-23)

M&A Connections

Deals
Acquired from
Investor(s)
44%
21 (44%)
Exited to
Investor(s)
32%
8 (32%)
Strategic(s)
32%
8 (32%)

Investor Summary

Investor Type

Private Equity Firm

Size

Mega

PE Assets

7.0B USD

Established

1983

Specialist/Generalist

Specialist

Leadership

Bradford Freeman

Co-Founder & Chairman

Ronald Spogli

Co-Founder & Chairman

John Roth

CEO

Jon Ralph

President & COO

Lou Losorelli

CFO

FAQ

When was Freeman Spogli founded?

Freeman Spogli was founded in 1983.

What type of investor is Freeman Spogli?

Freeman Spogli is a private equity firm.

Where is Freeman Spogli headquartered?

Freeman Spogli is headquartered in Los Angeles, California.

How much capital does Freeman Spogli have under management?

Freeman Spogli has 7.0B USD under management.

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