ICV Capital Partners Mergers and Acquisitions Summary

Private Equity Firm Profile

In the last 3 years, ICV Capital Partners has acquired 5 companies. It has also invested in 1 other.

ICV Capital Partners’ most common sectors for investment arebusiness services (16%) and food (13%) . The Firm’s most common investment types include buyout (lbo, mbo, mbi) (40%) and secondary buyout (37%). In total, ICV Capital Partners has invested in 19 US states and 3 different countries. Its largest (disclosed) acquisition occurred in 2019 when it acquired Diversified Restaurant Holdings for $130M.

In the last 3 years, ICV Capital Partners has exited 2 companies. The Firm’s most common exit type is secondary buyout (54%). ICV Capital Partners’ largest (disclosed) exit occurred in 2016 when it sold Stauber Performance Ingredients for $157M.

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M&A Summary

  • M&A Total Activity48
    • M&A Buy Activity33
    • M&A Sell Activity15
  • Total Sectors Invested 17
  • Total Countries Invested 3
  • M&A Buy/Sell Connections 14
  • M&A Advisors 6

ICV Capital Partners

ICV Capital Partners LLC

One Biscayne Tower, 2 S. Biscayne Blvd., 37th Floor,
Miami, Florida 33131
United States
(212) 455-9600
www.icvpartners.com
emailicv@icvpartners.com

ICV Capital Partners is a private equity firm focused on making equity investments in US-based middle-market companies. ICV seeks control investments in companies with annual revenues between $25 and $300 million and EBITDA between $10 and $40 million. ICV prefers businesses with existing/proven management and operating in stable industries. Target transactions include non-core divestitures, take-privates, and acquisitions of private companies in partnership with management. ICV Capital Partners was founded in 1998 and has offices in New York and Atlanta, Georgia.


Investment Criteria

Sectors of Interest: Beverages, Business Services, Consumer Products, Consumer Services, Distribution, Electronics, Financial Services, Food, Franchising, Healthcare Services, Leisure, Machinery, Manufacturing, Marketing, Medical Products, Packaging, Restaurants, Retail, Software, Transportation

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

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

Transaction Criteria Min Max
Target Revenue 25 300
Target EBITDA 10 40
Investment Size - -
Enterprise Value - -
values in millions of USD

M&A Summary

Buy vs Sell

Year ≤ '19 '20 '21 '22 '23 '24 T
Buy (1.4/yr) # 26 1 2 3 1 - 33
vol $165M $165M
Sell (0.4/yr) # 13 - 1 - - 1 15
vol $157M $157M
  48

Most Recent M&A

Company Date Value Type
Horizon Air Freight, Inc. 2024-08-26 - Secondary Sale
Jamaica, New York · www.haf.com
Desi Fresh Foods 2023-02-21 - Divestiture
Farmingdale, New York · www.desifreshfoods.com
Sullivan, Inc. 2022-11-01 - Secondary Buyout
Sioux Falls, South Dakota · www.sullivangift.com
FleetOptics, Inc. 2022-09-01 - Buyout (LBO, MBO, MBI)
Mississauga, Ontario · www.fleetopticsinc.com
Beacon Global Strategies 2022-04-26 - Growth Capital
Washington, District of Columbia · www.bgsdc.com
Outpatient Imaging Affiliates LLC 2021-10-20 - Secondary Sale
Franklin, Tennessee · www.oiarad.com
Cherry Tree Dental 2021-03-16 - Buyout (LBO, MBO, MBI)
Madison, Wisconsin · www.cherrytreedental.com
Total Access Urgent Care 2021-02-17 - Buyout (LBO, MBO, MBI)
Ballwin, Missouri · www.totalaccessurgentcare.com
Mintz Group, Inc. 2020-04-07 - Secondary Buyout
New York, New York · www.mintzgroup.com
Diversified Restaurant Holdings, Inc. 2019-11-06 130M USD Going Private
Southfield, Michigan · www.diversifiedrestaurantholdings.com
View All >>

Portfolio M&A

Company Acquired Add-On/Sale Date #
Desi Fresh Foods 2023-02-21 Noga Dairy Inc. 2023-02-21 1
Farmingdale, New York · www.desifreshfoods.com Farmingdale, New York · www.nogadairy.com
Total Access Urgent Care 2021-02-17 Urgent Care Group 2022-03-15 1
Ballwin, Missouri · www.totalaccessurgentcare.com Brentwood, Tennessee · www.urgentcaregroup.com

M&A by Sector

Sector Current # Value All-time # Value
Business Services 4 (27%) - 5 (15%) -
Food 1 (7%) - 4 (12%) 35M (21%)
Healthcare Services 3 (20%) - 4 (12%) -
Transportation 1 (7%) - 3 (9%) -
Consumer Products 1 (7%) - 2 (6%) -
Franchising 1 (7%) - 2 (6%) -
Marketing 2 (13%) - 2 (6%) -
Retail - - 2 (6%) -
Restaurants 1 (7%) 130M (100%) 1 (3%) 130M (79%)
Automotive - - 1 (3%) -
Distribution - - 1 (3%) -
Electronics - - 1 (3%) -
Financial Services - - 1 (3%) -
Marine - - 1 (3%) -
Packaging - - 1 (3%) -
Safety/Security - - 1 (3%) -
Software 1 (7%) - 1 (3%) -
Total 15 $130M 33 $165M

Acquisitions By Geo

State/Country Current # Value All-time # Value
United States 13 (87%) 130M (100%) 31 (94%) 165M (100%)
  New York 2 (13%) - 4 (12%) -
  Florida 1 (7%) - 3 (9%) -
  Michigan 2 (13%) 130M (100%) 2 (6%) 130M (79%)
  Wisconsin 2 (13%) - 2 (6%) -
  Illinois 1 (7%) - 2 (6%) -
  Texas - - 2 (6%) 35M (21%)
  Pennsylvania - - 2 (6%) -
  Nevada - - 2 (6%) -
  California - - 2 (6%) -
  Utah 1 (7%) - 1 (3%) -
  South Dakota 1 (7%) - 1 (3%) -
  Missouri 1 (7%) - 1 (3%) -
  Georgia 1 (7%) - 1 (3%) -
  District of Columbia 1 (7%) - 1 (3%) -
  Alabama - - 1 (3%) -
  Tennessee - - 1 (3%) -
  New Jersey - - 1 (3%) -
  Massachusetts - - 1 (3%) -
  Idaho - - 1 (3%) -
Canada 1 (7%) - 1 (3%) -
  Ontario 1 (7%) - 1 (3%) -
Puerto Rico 1 (7%) - 1 (3%) -
Domestic 13 (87%) 130M (100%) 31 (94%) 165M (100%)
Cross-border 2 (13%) - 2 (6%) -
Total 15 $130M 33 $165M

Acquisitions by Deal Type

Type Current # Value All-time # Value
Buyout (LBO, MBO, MBI) 5 (33%) - 13 (39%) 35M (21%)
Secondary Buyout 5 (33%) - 12 (36%) -
Growth Capital 3 (20%) - 5 (15%) -
Divestiture 1 (7%) - 2 (6%) -
Going Private 1 (7%) 130M (100%) 1 (3%) 130M (79%)
Total 15 $130M 33 $165M

Exits by Deal Type

Type Total # Value
Secondary Sale 8 (53%) -
Trade Sale 5 (33%) -
Trade Sale - Public Company 1 (7%) 157M (100%)
Stake Sale 1 (7%) -
Total 15 $157M

Top M&A Advisors

Financial Deals
Lincoln International
1
Piper Sandler & Co.
1
Legal Deals
DLA Piper
5
Kirkland & Ellis
2
Covington & Burling
1

Deal Values

buy # Total
$100M to $1B 1 $130M
< $100M 1 $35M
TOTAL $165M
Largest Diversified Restaurant Holdings, Inc.
$130M (2019-11-06)
sell # Total
$100M to $1B 1 $157M
TOTAL $157M
Largest Stauber Performance Ingredients, Inc.
$157M (2016-01-04)

M&A Connections

Deals
Acquired from
Investor(s)
36%
12 (36%)
Strategic(s)
6%
2 (6%)
Exited to
Investor(s)
53%
8 (53%)
Strategic(s)
40%
6 (40%)

FAQ

When was ICV Capital Partners founded?

ICV Capital Partners was founded in 1998.

What type of investor is ICV Capital Partners?

ICV Capital Partners is a private equity firm.

Where is ICV Capital Partners headquartered?

ICV Capital Partners is headquartered in Miami, Florida.

How much capital does ICV Capital Partners have under management?

ICV Capital Partners has 700M USD under management.

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