North Castle Partners Mergers and Acquisitions Summary

Private Equity Profile

In the last 3 years, North Castle Partners has acquired 7 companies. It has also invested in 6 others.

North Castle Partners’ most common sectors for investment are consumer products (36%) and consumer services (20%). The Firm’s most common investment types include buyout (lbo, mbo, mbi) (56%) and growth capital (32%). In total, North Castle Partners has invested in 17 US states and 2 different countries.

In the last 3 years, North Castle Partners has exited 2 companies. The Firm’s most common exit type is trade sale (64%). North Castle Partners’ largest (disclosed) exit occurred in 2005 when it sold CRC Health for $720M.

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M&A Summary

  • M&A Total Activity64
    • M&A Buy Activity45
    • M&A Sell Activity19
  • Total Sectors Invested 11
  • Total Countries Invested 2
  • M&A Buy/Sell Connections 28
  • M&A Advisors 6

North Castle Partners

183 East Putnam Avenue,
Greenwich, Connecticut 06830
United States
(203) 862-3200
www.northcastlepartners.com
baird@northcastlepartners.com

North Castle Partners is a specialist private equity firm that targets investments in consumer-driven product and service businesses. North Castle seeks control investments in companies that benefit from consumers looking to live 'healthier' lives as well as businesses that benefit from the baby boomer population. Specific areas of interest include aesthetics and personal care, consumer health, fitness and recreation, home and leisure, and nutrition. North Castle was formed in 1997 and is based in Greenwich, Connecticut.


Investment Criteria

Sectors of Interest: Apparel/Textiles, Consumer Products, Consumer Services, Food, Healthcare Services, Leisure, Life Science, Marketing, Medical Products, Retail

Target Transaction Types: Buyout (LBO, MBO, MBI), Secondary Buyout, Stake Purchase

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

Transaction Criteria Min Max
Target Revenue 10 200
Target EBITDA - -
Investment Size - -
Enterprise Value - -
values in millions of USD

M&A Summary

Buy vs Sell

Year ≤ '15 '16 '17 '18 '19 '20 T
Buy (3.4/yr) # 28 4 2 3 4 4 45
Sell (0.8/yr) # 15 2 1 - - 1 19
vol $1.6B $115M $38M $1.8B
  64

Most Recent M&A

Company Date Value Type
Velasa Sports, Inc. 2020-06-09 - Growth Capital
Acton, Massachusetts · www.sparxhockey.com
Mynd Spa & Salon 2020-03-19 - Bankruptcy
Stamford, Connecticut
Five Iron Golf 2020-01-01 - Buyout (LBO, MBO, MBI)
New York, New York · www.fiveirongolf.com
European Wax Center, Inc. 2020-01-01 - Secondary Buyout
Aventura, Florida · www.waxcenter.com
Vital Nutrients 2020-01-01 - Add-on Acquisition
Middletown, Connecticut · www.vitalnutrients.net
Echelon Fitness Multimedia LLC 2019-07-11 - Growth Capital
Chattanooga, Tennessee · www.echelonfit.com
CR Fitness 2019-07-11 - Growth Capital
Wyckoff, New Jersey · www.crfitness.com
Mack Weldon, Inc. 2019-07-01 - Secondary Buyout
New York, New York · www.mackweldon.com
Maya Kaimal Foods LLC 2019-04-15 - Growth Capital
Rhinebeck, New York · www.mayakaimal.com
Windham Mountain 2018-12-28 - Buyout (LBO, MBO, MBI)
Windham, New York · www.windhammountain.com
View All >>

M&A by Sector

Sector Current # Value All-time # Value
Consumer Products 6 (27%) - 16 (36%) -
Consumer Services 5 (23%) - 9 (20%) -
Leisure 3 (14%) - 5 (11%) -
Food 2 (9%) - 4 (9%) -
Healthcare Services 2 (9%) - 3 (7%) -
Apparel/Textiles 1 (5%) - 2 (4%) -
Beverages 1 (5%) - 2 (4%) -
Life Science - - 1 (2%) -
Medical Products - - 1 (2%) -
Retail 1 (5%) - 1 (2%) -
Technology Hardware 1 (5%) - 1 (2%) -
Total 22 - 45 -

Acquisitions By Geo

State/Country Current # Value All-time # Value
United States 22 (100%) - 43 (96%) -
  California 4 (18%) - 9 (20%) -
  New York 6 (27%) - 8 (18%) -
  Florida 2 (9%) - 4 (9%) -
  Colorado - - 4 (9%) -
  Connecticut 2 (9%) - 3 (7%) -
  Tennessee 2 (9%) - 2 (4%) -
  Texas 1 (5%) - 2 (4%) -
  Illinois 1 (5%) - 2 (4%) -
  North Carolina 1 (5%) - 1 (2%) -
  New Jersey 1 (5%) - 1 (2%) -
  Massachusetts 1 (5%) - 1 (2%) -
  Georgia 1 (5%) - 1 (2%) -
  Wisconsin - - 1 (2%) -
  Vermont - - 1 (2%) -
  Ohio - - 1 (2%) -
  Minnesota - - 1 (2%) -
  Michigan - - 1 (2%) -
Canada - - 2 (4%) -
  Ontario - - 1 (2%) -
  Alberta - - 1 (2%) -
Domestic 22 (100%) - 43 (96%) -
Cross-border - - 2 (4%) -
Total 22 - 45 -

Acquisitions by Deal Type

Type Current # Value All-time # Value
Buyout (LBO, MBO, MBI) 5 (23%) - 25 (56%) -
Growth Capital 12 (55%) - 14 (31%) -
Secondary Buyout 3 (14%) - 3 (7%) -
Add-on Acquisition 2 (9%) - 2 (4%) -
Divestiture - - 1 (2%) -
Total 22 - 45 -

Exits by Deal Type

Type Total # Value
Trade Sale - Public Company 10 (53%) 1.1B (59%)
Secondary Sale 4 (21%) 720M (41%)
Trade Sale 3 (16%) -
Bankruptcy 1 (5%) -
Recapitalization 1 (5%) -
Total 19 $1.8B

Top M&A Advisors

Financial Deals
Lincoln International
2
Raymond James - Investment Banking
1
Harris Williams & Co.
1
Legal Deals
Morrison Cohen LLP
9

Deal Values

sell # Total
$100M to $1B 5 $1.6B
< $100M 3 $194M
TOTAL $1.8B
Largest CRC Health Corp.
$720M (2005-10-13)

M&A Connections

Deals %
Acquired from
PE Firm(s)
75%
3 75%
Strategic(s)
25%
1 25%
Exited to
PE Firm(s)
40%
8 40%
Strategic(s)
60%
12 60%

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