M&A Deal Summary

Leonard Green & Partners Acquires Packers Sanitation Services

On November 5, 2014, private equity firm Leonard Green & Partners acquired business services company Packers Sanitation Services from Harvest Partners Private Equity for 1.0B USD

Acquisition Highlights
  • This is Leonard Green & Partners’ 3rd transaction in the Business Services sector.
  • This is Leonard Green & Partners’ 15th largest (disclosed) transaction.
  • This is Leonard Green & Partners’ 50th transaction in the United States.
  • This is Leonard Green & Partners’ 2nd transaction in Iowa.
Investment Fate
  • Packers Sanitation Services was sold to a consortium of financial buyers in 2018.

M&A Deal Summary
Date 2014-11-05
Target Packers Sanitation Services
Sector Business Services
Buyer(s) Leonard Green & Partners
Sellers(s) Harvest Partners Private Equity
Deal Type Secondary Buyout
Deal Value 1.0B USD
Advisor(s) Moelis & Co.
Harris Williams & Co. (Financial)

Target

Packers Sanitation Services

Mt. Pleasant, Iowa, United States
website
PSSI is a provider of outsourced cleaning services to the beef, pork and poultry processing industries. PSSI also cleans other specialized food preparation plants including those that process salads and pizza toppings. PSSI has grown rapidly due to increased outsourcing of cleaning services and added focus on food safety.

Search 192,349 Deals Now

SEARCH BY

  • Buyer Type (PE or Strategic)
  • Deal Size ($10M to $10B+)
  • Sector (60 Sectors)
  • Deal Type
  • Geography
  • & More

Try For Free 7-Day Free Trial

Buyer(S) 1

Buyer

Leonard Green & Partners

Los Angeles, California, United States

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 1989
PE ASSETS 70.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Leonard Green & Partners is a mega-sized private equity firm that invests in established companies that are leaders in their respective markets. Leonard Green will consider investments in consumer and business services, consumer products, distribution, media, and retail. Typical transaction values for acquisitions are between $500 million and $2 billion, however, the firm is capable of closing transactions valued up to $5 billion. Types of transactions include public-to-private, recapitalizations of privately held businesses, growth capital, equity capital to facilitate acquisitions, turnarounds/restructurings, and acquisitions of divisions/assets from large corporations. Leonard Green & Partners was formed in 1989 and is based in Los Angeles, California.

DEAL STATS #
Overall 52 of 88
Sector (Business Services) 3 of 6
Type (Secondary Buyout) 12 of 40
State (Iowa) 2 of 2
Country (United States) 50 of 81
Year (2014) 3 of 4
Size (of disclosed) 15 of 28
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-11-03 Varsity Brands

Memphis, Tennessee, United States

Varsity Brands is a provider of goods and services to the school spirit industry. Varsity designs, markets and manufactures cheerleading and dance team uniforms and accessories. With a mission to inspire achievement and create memorable experiences for young people, Varsity Brands elevates the student experience, promotes participation and celebrates achievement through three unique but interrelated businesses: BSN SPORTS; Varsity Spirit; and Herff Jones. Together, these businesses promote personal, school and community pride through their customizable products and programs to elementary and middle schools, high schools, and colleges and universities, as well as church organizations, professional and collegiate sports teams and corporations.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-11-26 Eyemart Express

Farmers Branch, Texas, United States

Eyemart Express is an independent, value-focused optical retailer with over 150 stores in more than 30 states. The company provides a broad selection of high-quality private label and branded frames with convenient one-hour service in all locations. Eyemart Express was formed in 1990 and is based in Farmers Branch, Texas.

Buy -

Seller(S) 1

SELLER

Harvest Partners Private Equity

New York, New York, United States

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 1981
PE ASSETS 5.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Harvest Partners is a private equity firm that targets buyout and growth capital investments in middle-market public and private companies. Harvest Partners looks to invest in profitable ($30 to $300 million of EBITDA) consumer products/retail, manufacturing, marketing, building products, industrial, specialty services, and value-added distribution companies valued between $100 and $600 million. The Firm prefers opportunities headquartered in North America. Harvest Partners was formed in 1981 and is based in New York City.

DEAL STATS #
Overall 15 of 29
Sector (Business Services) 1 of 3
Type (Secondary Buyout) 8 of 16
State (Iowa) 1 of 1
Country (United States) 13 of 26
Year (2014) 3 of 3
Size (of disclosed) 2 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-10-30 PRO Unlimited

San Francisco, California, United States

PRO Unlimited is a provider of contingent workforce management solutions through a managed services program (“MSP”) and cloud-based vendor management software (“VMS”). PRO Unlimited was founded in 1991 and is based in San Francisco, California

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-01-08 Cycle Gear

Benicia, California, United States

Comoto Holdings is an omni-channel retailer of apparel, accessories, and parts dedicated to motorcycle riders and enthusiasts through its equity investments in Cycle Gear and RevZilla, which operate as independent sister companies. Cycle Gear delivers a best-in-class shopping experience across its footprint of 146 stores in 36 states while RevZilla advances the digital shopping experience through an innovative technology and media platform, digital expertise and award-winning customer service.

Sell -
Mergr

Product

Company

Legal