North Castle Partners Mergers and Acquisitions Summary

Private Equity Firm Profile

In the last 3 years, North Castle Partners has acquired 6 companies. It has also invested in 5 others.

North Castle Partners’ most common sectors for investment areconsumer 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 16 US states and 2 different countries.

In the last 3 years, North Castle Partners has exited 6 companies. The Firm’s most common exit type is trade sale (55%). 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 Activity69
    • M&A Buy Activity45
    • M&A Sell Activity24
  • Total Sectors Invested 10
  • Total Countries Invested 2
  • M&A Buy/Sell Connections 29
  • 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 ≤ '16 '17 '18 '19 '20 '21 T
Buy (2.6/yr) # 32 2 3 4 4 - 45
Sell (1.4/yr) # 17 1 - 1 3 2 24
vol $1.7B $38M $1.8B
  69

Most Recent M&A

Company Date Value Type
European Wax Center, Inc. 2021-08-05 - IPO
Plano, Texas · www.waxcenter.com
Full Swing Golf, Inc. 2021-07-26 - Secondary Buyout
Carlsbad, California · www.fullswinggolf.com
Sprout Foods, Inc. 2020-12-10 - Trade Sale - Public Company
Montvale, New Jersey · www.sproutorganicfoods.com
SmartyPants, Inc. 2020-11-25 - Add-on Acquisition
Marina Del Rey, California · www.smartypantsvitamins.com
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
Plano, Texas · 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
View All >>

M&A by Sector

Sector Current # Value All-time # Value
Consumer Products 5 (28%) - 16 (36%) -
Consumer Services 4 (22%) - 9 (20%) -
Leisure 3 (17%) - 6 (13%) -
Food 1 (6%) - 4 (9%) -
Healthcare Services 2 (11%) - 3 (7%) -
Apparel/Textiles 1 (6%) - 2 (4%) -
Beverages 1 (6%) - 2 (4%) -
Life Science - - 1 (2%) -
Medical Products - - 1 (2%) -
Retail 1 (6%) - 1 (2%) -
Total 18 - 45 -

Acquisitions By Geo

State/Country Current # Value All-time # Value
United States 18 (100%) - 43 (96%) -
  California 2 (11%) - 9 (20%) -
  New York 6 (33%) - 8 (18%) -
  Colorado - - 4 (9%) -
  Connecticut 2 (11%) - 3 (7%) -
  Florida 1 (6%) - 3 (7%) -
  Texas 1 (6%) - 3 (7%) -
  Tennessee 2 (11%) - 2 (4%) -
  Illinois 1 (6%) - 2 (4%) -
  New Jersey 1 (6%) - 2 (4%) -
  North Carolina 1 (6%) - 1 (2%) -
  Massachusetts 1 (6%) - 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 18 (100%) - 43 (96%) -
Cross-border - - 2 (4%) -
Total 18 - 45 -

Acquisitions by Deal Type

Type Current # Value All-time # Value
Buyout (LBO, MBO, MBI) 5 (28%) - 25 (56%) -
Growth Capital 9 (50%) - 14 (31%) -
Secondary Buyout 2 (11%) - 3 (7%) -
Add-on Acquisition 2 (11%) - 2 (4%) -
Divestiture - - 1 (2%) -
Total 18 - 45 -

Exits by Deal Type

Type Total # Value
Trade Sale - Public Company 11 (46%) 1.1B (59%)
Secondary Sale 6 (25%) 720M (41%)
Trade Sale 4 (17%) -
Bankruptcy 1 (4%) -
IPO 1 (4%) -
Recapitalization 1 (4%) -
Total 24 $1.8B

Top M&A Advisors

Financial Deals
Lincoln International
2
PwC Corporate Finance LLC
1
Lazard Middle Market
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
Investor(s)
7%
3 (7%)
Strategic(s)
2%
1 (2%)
Exited to
Investor(s)
29%
7 (29%)
Strategic(s)
54%
13 (54%)

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