M&A Deal Summary

Meriturn Partners Acquires Barnacle Seafood

On November 1, 2005, private equity firm Meriturn Partners acquired food company Barnacle Seafood for 4M USD

Acquisition Highlights
  • This is Meriturn Partners’ 1st transaction in the Food sector.
  • This is Meriturn Partners’ largest (disclosed) transaction.
  • This is Meriturn Partners’ 4th transaction in the United States.
  • This is Meriturn Partners’ 1st transaction in Florida.
Investment Fate
  • Barnacle Seafood was sold to a strategic buyer in 2009.

M&A Deal Summary

Date 2005-11-01
Target Barnacle Seafood
Sector Food
Buyer(s) Meriturn Partners
Deal Type Special Situations/Distressed
Deal Value 4M USD

Target

Barnacle Seafood

Fort Lauderdale, Florida, United States
website
Barnacle Seafood is a private company categorized under Wholesale Seafood and located in Miami, FL. Current estimates show this company has an annual revenue of unknown and employs a staff of approximately 50 to 99.

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Buyer(S) 1

Buyer

Meriturn Partners

Raleigh, North Carolina, United States

website


Category Private Equity Firm
Founded 2001
Size Small
Type Sector Agnostic
DESCRIPTION

Meriturn Partners LLC is a private investment firm that makes control investments in middle-market companies needing restructuring or facing operational challenges. Meriturn primarily looks for companies based in the US and Canada operating in basic industries such as manufacturing, distribution, and service with revenues between $40 and $300 million. The Firm looks to commit up to $10 million per transaction. Meriturn's investment horizon is four to seven years. Meriturn Partners was formed in 2001 and based in Raleigh, North Carolina with an additional office in San Francisco, California.


DEAL STATS #
Overall 4 of 8
Sector (Food) 1 of 1
Type (Special Situations/Distressed) 4 of 4
State (Florida) 1 of 1
Country (United States) 4 of 8
Year (2005) 2 of 3
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2005-06-15 Irving Tanning

Hartland, Maine, United States

Irving Tanning Company’s mission is to provide innovative leather solutions for leather product manufacturers worldwide and to be our customers’ preferred choice for products and services.

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FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2005-12-06 Valentine Paper

Lockport, Louisiana, United States

Manufactures specialty papers; manufactures sensitized diazo or whiteprint cloth or paper Printing and writing paper, Business use papers, Paper products, Personal paper products, Novelty paper.

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