L Catterton Partners Mergers and Acquisitions Summary

Growth Capital Firm Profile

In the last 3 years, L Catterton Partners has acquired 14 companies. It has also invested in 28 others.

L Catterton Partners’ most common sectors for investment areconsumer products (17%) and restaurants (14%) . The Firm’s most common investment types include growth capital (42%) and buyout (lbo, mbo, mbi) (22%). In total, L Catterton Partners has invested in 25 US states and 25 different countries. Its largest (disclosed) acquisition occurred in 2006 when it acquired Bloomin Brands for $3.2B.

In the last 3 years, L Catterton Partners has exited 29 companies. The Firm’s most common exit type is trade sale (45%). L Catterton Partners’ largest (disclosed) exit occurred in 2018 when it sold Ainsworth Pet Nutrition for $1.9B.

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M&A Summary

  • M&A Total Activity319
    • M&A Buy Activity221
    • M&A Sell Activity98
  • Total Sectors Invested 33
  • Total Countries Invested 25
  • M&A Buy/Sell Connections 111
  • M&A Advisors 25

L Catterton Partners

599 West Putnam Avenue,
Greenwich, Connecticut 06830
United States
(203) 629-4901
www.lcatterton.com
info@lcatterton.com

L Catterton is a private equity firm that targets investments in consumer-related companies located throughout North America. L Catterton looks for businesses with identifiable brands and operating in 'defensible and extensible' positions within growth industry segments. Specific sectors of interest include branded consumables, food/beverages, consumer services, restaurants, media and marketing, household durables, specialty retail, mass merchant retail, and luxury/apparel. Prospective transactions include management buyouts, recapitalizations, turnarounds, and growth financings. L Catterton was formed in 1990 and is based in Greenwich, Connecticut.


Investment Criteria

Sectors of Interest: Apparel/Textiles, Beverages, Chemicals, Consumer Products, Consumer Services, E-Commerce, Electronics, Food, Franchising, Furniture, Healthcare Services, Internet Software and Services, Life Science, Manufacturing, Marketing, Media, Restaurants, Retail, Safety/Security

Target Transaction Types: Buyout (LBO, MBO, MBI), Divestiture, Going Private, Growth Capital, Recapitalization, Special Situations/Distressed, PIPE, Secondary Buyout, Venture

Geographic Preferences: East US, Midwest US, South US, West US, Canada, United Kingdom, Western Europe, Asia/Pacific, Australia/New Zealand, Central Asia/India, Latin/South America

Transaction Criteria Min Max
Target Revenue - -
Target EBITDA - -
Investment Size 10 150
Enterprise Value - -
values in millions of USD

M&A Summary

Buy vs Sell

Year ≤ '19 '20 '21 '22 '23 '24 T
Buy (11.6/yr) # 163 16 22 10 5 5 221
vol $7.5B $680M $8.1B
Sell (8.0/yr) # 61 11 15 5 7 2 101
vol $3.5B $800M $1.3B $400M $6.0B
  322

Most Recent M&A

Company Date Value Type
Solidcore Holdings LLC 2024-09-25 - Secondary Buyout
Washington, District of Columbia · www.solidcore.co
Stenders SIA 2024-09-09 - Secondary Buyout
Riga, Latvia · www.stenders-cosmetics.com
Stripes Beauty LLC 2024-06-24 - Buyout (LBO, MBO, MBI)
Beverly Hills, California · www.iamstripes.com
KIKO S.p.A. 2024-04-26 - Buyout (LBO, MBO, MBI)
Bergamo, Italy · www.kikocosmetics.com
Pirch, Inc. 2024-04-22 - Bankruptcy
Costa Mesa, California · www.pirch.com
TAXA Outdoors 2024-04-10 - Trade Sale
Houston, Texas · www.taxaoutdoors.com
AmaWaterways 2024-03-04 - Stake Purchase
Calabasas, California · www.amawaterways.com
AirX Climate Solutions, Inc. 2023-09-27 - Secondary Sale
Yukon, Oklahoma · www.airxcs.com
Withmal Co. Ltd. 2023-09-12 - Growth Capital
Tokyo, Japan · www.withmal.co.jp
Thorne HealthTech, Inc. 2023-08-28 680M USD Going Private
New York, New York · www.thorne.com
View All >>

Portfolio M&A

Company Acquired Add-On/Sale Date #
Steiner Leisure Ltd. 2015-08-21 BlissWorld, Inc. 2023-01-17 2
Nassau, Bahamas · www.steinerleisure.com Los Angeles, California · www.blissworld.com
Founders Table Restaurant Group 2020-01-01 Chopt Creative Salad Co. 2020-01-01 1
Rye Brook, New York · www.founders-table.com Rye Brook, New York · www.choptsalad.com
Del Frisco's Restaurant Group, Inc. 2019-06-24 Double Eagle Steak House 2019-09-25 2
Irving, Texas · www.delfriscos.com Dunwoody, Georgia · www.delfriscos.com
Del Frisco's Restaurant Group, Inc. 2019-06-24 Del Frisco's Grilles 2019-09-25 1
Irving, Texas · www.delfriscos.com New York, New York · www.delfriscosgrille.com
PHC Holdings Corp. 2013-09-27 Thermo Fisher Scientific, Inc. - Anatomical Pathology Business 2019-01-29 4
Tokyo, Japan · www.phchd.com Waltham, Massachusetts
Steiner Leisure Ltd. 2015-08-21 ELEMIS Ltd. 2019-01-13 1
Nassau, Bahamas · www.steinerleisure.com London, United Kingdom · www.elemis.com

M&A by Sector

Sector Current # Value All-time # Value
Consumer Products 20 (18%) 925M (24%) 37 (17%) 975M (12%)
Restaurants 16 (15%) 650M (17%) 30 (14%) 3.9B (47%)
Apparel/Textiles 17 (16%) - 25 (11%) -
Food 7 (6%) - 19 (9%) 45M (1%)
Consumer Services 8 (7%) - 15 (7%) -
Retail 4 (4%) - 13 (6%) 267M (3%)
Internet Software and Services 9 (8%) - 11 (5%) -
Healthcare Services 4 (4%) - 10 (5%) 56M (1%)
Beverages 5 (5%) - 10 (5%) -
E-Commerce 7 (6%) - 8 (4%) -
Automotive - - 5 (2%) -
Technology Hardware 1 (1%) - 4 (2%) 480M (6%)
Marketing 1 (1%) - 4 (2%) 5M (< 1%)
Information Technology 3 (3%) 680M (17%) 3 (1%) 680M (8%)
Business Services 2 (2%) - 3 (1%) -
Distribution - - 3 (1%) -
Safety/Security - - 2 (1%) 115M (1%)
Franchising - - 2 (1%) -
Manufacturing - - 2 (1%) -
Media - - 2 (1%) -
Medical Products 1 (1%) 1.7B (43%) 1 (< 1%) 1.7B (21%)
Agriculture 1 (1%) - 1 (< 1%) -
Chemicals - - 1 (< 1%) -
Digital Media - - 1 (< 1%) -
Electronics - - 1 (< 1%) -
Environmental - - 1 (< 1%) -
Financial Services - - 1 (< 1%) -
Leisure 1 (1%) - 1 (< 1%) -
Life Science - - 1 (< 1%) -
Marine - - 1 (< 1%) -
Packaging 1 (1%) - 1 (< 1%) -
Real Estate - - 1 (< 1%) -
Software 1 (1%) - 1 (< 1%) -
Total 109 $3.9B 221 $8.1B

Acquisitions By Geo

State/Country Current # Value All-time # Value
United States 51 (47%) 1.3B (34%) 133 (60%) 5.4B (66%)
  New York 12 (11%) 680M (17%) 26 (12%) 680M (8%)
  California 12 (11%) - 25 (11%) 267M (3%)
  Texas 7 (6%) 650M (17%) 14 (6%) 650M (8%)
  Colorado 2 (2%) - 9 (4%) 480M (6%)
  Connecticut 2 (2%) - 7 (3%) -
  Florida 1 (1%) - 7 (3%) 3.3B (40%)
  Utah 2 (2%) - 5 (2%) -
  Massachusetts 3 (3%) - 4 (2%) -
  Arizona 1 (1%) - 4 (2%) -
  Pennsylvania - - 4 (2%) -
  Ohio 2 (2%) - 3 (1%) -
  New Jersey 1 (1%) - 3 (1%) 5M (< 1%)
  Washington - - 3 (1%) -
  Kansas 1 (1%) - 2 (1%) -
  Illinois 1 (1%) - 2 (1%) -
  Virginia 1 (1%) - 2 (1%) -
  Minnesota - - 2 (1%) -
  Michigan - - 2 (1%) -
  Indiana - - 2 (1%) -
  Wisconsin - - 2 (1%) -
  Oregon 1 (1%) - 1 (< 1%) -
  Maryland 1 (1%) - 1 (< 1%) -
  District of Columbia 1 (1%) - 1 (< 1%) -
  Nebraska - - 1 (< 1%) 45M (1%)
  Missouri - - 1 (< 1%) -
China 9 (8%) - 14 (6%) -
Italy 5 (5%) - 10 (5%) 56M (1%)
United Kingdom 4 (4%) - 8 (4%) -
Canada 1 (1%) - 6 (3%) 115M (1%)
  Alberta 1 (1%) - 2 (1%) 115M (1%)
  Quebec - - 2 (1%) -
  Ontario - - 2 (1%) -
Japan 4 (4%) 1.7B (43%) 5 (2%) 1.7B (21%)
Brazil 4 (4%) - 5 (2%) -
Argentina 4 (4%) - 4 (2%) -
India 3 (3%) - 4 (2%) -
Mexico 2 (2%) - 4 (2%) -
Germany 3 (3%) - 3 (1%) -
Singapore 3 (3%) - 3 (1%) -
France 2 (2%) - 3 (1%) -
Spain 2 (2%) - 3 (1%) -
Denmark 2 (2%) - 3 (1%) -
Australia 1 (1%) - 3 (1%) -
South Korea 1 (1%) - 2 (1%) -
Bahamas 1 (1%) 925M (24%) 1 (< 1%) 925M (11%)
Chile 1 (1%) - 1 (< 1%) -
Colombia 1 (1%) - 1 (< 1%) -
Indonesia 1 (1%) - 1 (< 1%) -
Israel 1 (1%) - 1 (< 1%) -
Latvia 1 (1%) - 1 (< 1%) -
Netherlands 1 (1%) - 1 (< 1%) -
United Arab Emirates 1 (1%) - 1 (< 1%) -
Domestic 51 (47%) 1.3B (34%) 133 (60%) 5.4B (66%)
Cross-border 58 (53%) 2.6B (66%) 88 (40%) 2.8B (34%)
Total 109 $3.9B 221 $8.1B

Acquisitions by Deal Type

Type Current # Value All-time # Value
Growth Capital 52 (48%) - 91 (41%) -
Buyout (LBO, MBO, MBI) 13 (12%) - 47 (21%) 581M (7%)
Venture 16 (15%) - 30 (14%) 5M (< 1%)
Secondary Buyout 12 (11%) - 20 (9%) -
Stake Purchase 7 (6%) - 13 (6%) -
Going Private 3 (3%) 2.3B (57%) 5 (2%) 5.7B (70%)
Divestiture 3 (3%) 1.7B (43%) 5 (2%) 1.7B (21%)
Recapitalization - - 3 (1%) 115M (1%)
PIPE 1 (1%) - 2 (1%) 50M (1%)
Add-on Acquisition 2 (2%) - 2 (1%) -
Special Situations/Distressed - - 2 (1%) -
Consolidation - - 1 (< 1%) -
Total 109 $3.9B 221 $8.1B

Exits by Deal Type

Type Total # Value
Trade Sale 25 (25%) 400M (7%)
Trade Sale - Public Company 23 (23%) 5.6B (92%)
Secondary Sale 19 (19%) 70M (1%)
IPO 17 (17%) -
Bankruptcy 4 (4%) -
Merger 4 (4%) -
SPAC 3 (3%) -
Sold to Management 2 (2%) -
Recapitalization 1 (1%) -
Sold to Existing Investors 1 (1%) -
Stake Sale 1 (1%) -
Unknown 1 (1%) -
Total 101 $6.0B

Top M&A Advisors

Financial Deals
BofA Securities
 2
North Point Advisors LLC
 1
UBS Investment Bank
 1
Legal Deals
Kirkland & Ellis
 8
Gibson, Dunn & Crutcher
 4
Finn Dixon & Herling
 3

Deal Values

buy # Total
> $1B 2 $4.9B
$100M to $1B 6 $3.1B
< $100M 4 $156M
TOTAL $8.1B
Largest Bloomin' Brands, Inc.
$3.2B (2006-11-06)
sell # Total
> $1B 1 $1.9B
$100M to $1B 10 $4.0B
< $100M 2 $157M
TOTAL $6.0B
Largest Ainsworth Pet Nutrition LLC
$1.9B (2018-04-04)

M&A Connections

Deals
Acquired from
Investor(s)
10%
21 (10%)
Strategic(s)
2%
5 (2%)
Exited to
Investor(s)
20%
20 (20%)
Strategic(s)
50%
50 (50%)

Investor Summary

Investor Type

Growth Capital Firm

Size

Mega

PE Assets

30.0B USD

Established

1989

Specialist/Generalist

Generalist

Leadership

J. Michael Chu

Co-founder & Global Co-CEO

Mathieu Le Bozec

Co-founder & Managing Partner

Sanjiv Mehta

Executive Chairman

Scott Dahnke

Global Co-CEO

Andrew Taub

Managing Partner

FAQ

When was L Catterton Partners founded?

L Catterton Partners was founded in 1989.

What type of investor is L Catterton Partners?

L Catterton Partners is a growth capital firm.

Where is L Catterton Partners headquartered?

L Catterton Partners is headquartered in Greenwich, Connecticut.

How much capital does L Catterton Partners have under management?

L Catterton Partners has 30.0B USD under management.

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