M&A Deal Summary

Littlejohn and Goldman Sachs Merchant Banking Acquires Brown Jordan International

On December 19, 2016, private equity firms Littlejohn & Co. and Goldman Sachs Merchant Banking acquired furniture company Brown Jordan International, Inc. from Crescent Capital Group LP

Acquisition Highlights
  • This is Littlejohn’s 1st and Goldman Sachs Merchant Banking’s 1st transaction in the Furniture sector.
  • This is Littlejohn’s 38th and Goldman Sachs Merchant Banking’s 94th transaction in the United States.
  • This is Littlejohn’s 1st and Goldman Sachs Merchant Banking’s 5th transaction in Florida.

M&A Deal Summary

Date 2016-12-19
Target Brown Jordan International, Inc.
Sector Furniture
Buyer(s) Littlejohn & Co.
Goldman Sachs Merchant Banking
Sellers(s) Crescent Capital Group LP
Deal Type Secondary Buyout
Advisor(s) Moelis & Co. (Financial)

Target

Brown Jordan International, Inc.

St. Augustine, Florida, United States
website
Brown Jordan International, Inc. is a designer, manufacturer, and marketer of home furnishings and contract furnishings.

Search 171,517 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) 2

Buyer

Littlejohn & Co.

Greenwich, Connecticut, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1996
PE ASSETS 10.0B USD
SizeMega
Type Sector Agnostic
DESCRIPTION

Littlejohn & Co. is a private equity firm that makes control investments in mid-sized companies undergoing change; either in capital structure, strategy, operations, or growth. Littlejohn looks to commit $50 to $150 million of equity capital in companies with annual revenues of $100 to $800 million. Sectors of interest include industrial equipment, packaging, chemicals, automotive and transportation parts and equipment, food and food processing, healthcare, plastics, aerospace/defense, distribution, environmental and infrastructure services, and consumer products. The Firm avoids investing in real estate, fashion, retail, and businesses engaged in high technology. Littlejohn prefers opportunities located in the US, but also considers opportunities in Europe and Canada. Littlejohn & Co. was formed in 1996 and is based in Greenwich, Connecticut.


DEAL STATS #
Overall 42 of 58
Sector (Furniture) 1 of 1
Type (Secondary Buyout) 14 of 24
State (Florida) 1 of 1
Country (United States) 38 of 54
Year (2016) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-11-15 Contech Engineered Solutions LLC

West Chester, Ohio, United States

Contech Engineered Solutions LLC is a provider of innovative engineering and site solutions for the residential, commercial and infrastructure markets. The company's primary end markets are the US infrastructure, commercial and residential construction markets. Contech Engineered Solutions was formed in 1986 and is based in West Chester, Ohio.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-12-23 The PendaForm Co.

Portage, Wisconsin, United States

The PendaForm Co. is a heavy gauge thermoformer in North America supplying automotive, industrial and consumer markets with diversified products including automotive and heavy truck components, pickup truck accessories, custom designed packaging solutions, as well as erosion control, irrigation and large surface containment solution for drilling sites. The PendaForm Co. is based in Portage, Wisconsin.

Sell -
Buyer

Goldman Sachs Merchant Banking

New York, New York, United States

website


Category Private Equity Firm
Founded 1986
PE ASSETS 155.0B USD
SizeMega
Type Sector Agnostic
DESCRIPTION

Goldman Sachs Merchant Banking Division is the investment arm of Goldman Sachs. The primary corporate investment group within the Merchant Banking Division is Goldman Sachs' direct investment arm. GS's direct investment arm consists of GS Capital Partners, GS Mezzanine Partners, and GS Growth Partners. GS Capital Partners is the direct corporate equity investment group which seeks LBO, recapitalization, and growth investments to help fund acquisitions, expansions, recapitalizations, restructurings, buyouts, and take privates. GS Capital Partners looks to invest between $50 and $800 million in opportunities in North/South America, Europe, Asia. GS Mezzanine Partners is the junior capital arm of Goldman Sachs. GS Mezzanine looks to invest between $200 million and and $800 million in transactions valued up to $10 billion. Investment proceeds are used to fund leveraged buyouts, expansion financings, recapitalizations, acquisitions, and restructurings. GS Growth looks to invest in growth equity transactions. The unit seeks to commit $20 to $200 million per investment. Other units within GS's merchant banking division include Real Estate, Infrastructure, and Urban Investments. Goldman Sachs Merchant Banking Division is based in New York City.


DEAL STATS #
Overall 134 of 174
Sector (Furniture) 1 of 1
Type (Secondary Buyout) 42 of 62
State (Florida) 5 of 5
Country (United States) 94 of 118
Year (2016) 13 of 13
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-12-01 Xella International Sarl

Duisburg, Germany

Xella International Sarl is a provider of wall-building materials and a leading European producer of lime and premium dry lining.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-02-15 MDC Partners, Inc.

New York, New York, United States

MDC Partners is an influential marketing and communications networks in the world. Its 50+ advertising, public relations, branding, digital, social and event marketing agencies are responsible for some of the most memorable and engaging campaigns for the world's most respected brands. As "The Place Where Great Talent Lives," MDC Partners is known for its unique partnership model, empowering the most entrepreneurial and innovative talent to drive competitive advantage and business growth for clients. By leveraging technology, data analytics, insights, and strategic consulting solutions, MDC Partners drives measurable results and optimizes return on marketing investment for over 1,700 clients worldwide. MDC Partners was founded in 1980 and is based in New York, New York.

Buy -

Seller(S) 1

SELLER

Crescent Capital Group LP

Los Angeles, California, United States

Investor Investor Investor Investor Investor

website


Category Mezzanine Finance Firm
Founded 1991
PE ASSETS 25.0B USD
SizeMega
Type Sector Agnostic
DESCRIPTION

Crescent Capital is a provider of debt securities to middle-market companies. Crescent looks to issue senior bank loans, high yield bonds, mezzanine debt and distressed debt to fund a variety of needs. The FIrm's direct lending group looks to provide $10 to $30 million to sponsor-backed companies that generate $5 to $25 million of EBITDA. Crescent's mezzanine practice typically provides junior capital to support buyouts, recapitalizations, and refinancings. Crescent Capital was formed in 1991 and was originally known as TCW/Crescent Mezzanine. The Firm has offices in Los Angeles, Boston, New York, and London.


DEAL STATS #
Overall 37 of 45
Sector (Furniture) 1 of 1
Type (Secondary Buyout) 10 of 13
State (Florida) 1 of 3
Country (United States) 31 of 38
Year (2016) 4 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-08-05 Systems Maintenance Services, Inc.

Charlotte, North Carolina, United States

Systems Maintenance Services, Inc. is a global provider of multivendor IT asset lifecycle services and support solutions. SMS’ advanced service portfolio includes: asset management, deployment, relocation, disposition, recycling, erasure, maintenance, and managed network and VOIP services. SMS supports more than 3,000 clients globally with physical locations across North America, Asia and Europe. SMS’ solutions include support for most datacenter brands including Cisco, IBM, HP, Dell, Oracle, EMC, Hitachi, NetApp, Lexmark and Xerox.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-05-15 Werner Co.

Itasca, Illinois, United States

WernerCo is a fully-integrated, international manufacturer and distributor of access products, fall protection equipment, secure storage systems and light duty construction equipment. Its portfolio of industry leading brands include Werner, KNAACK®, WEATHER GUARD®, Youngman®, BoSS®, Centaure, Duarib, Haemmerlin and Bailey. WernerCo is based in Itasca, Illinois.

Sell -