M&A Deal Summary

Sycamore Partners Acquires Essendant

On January 31, 2019, private equity firm Sycamore Partners acquired distribution company Essendant, Inc. from Staples, Inc.

Acquisition Highlights
  • This is Sycamore Partners’ 1st transaction in the Distribution sector.
  • This is Sycamore Partners’ 15th transaction in the United States.
  • This is Sycamore Partners’ 1st transaction in Illinois.

M&A Deal Summary

Date 2019-01-31
Target Essendant, Inc.
Sector Distribution
Buyer(s) Sycamore Partners
Sellers(s) Staples, Inc.
Deal Type Divestiture

Target

Essendant, Inc.

Deerfield, Illinois, United States
website
Essendant's corporate headquarters in Deerfield, Illinois.
Essendant's corporate headquarters in Deerfield, Illinois.
Essendant is a national wholesale distributor of workplace items including traditional office products and office furniture, janitorial, sanitation and breakroom supplies, technology products, industrial supplies, and automotive aftermarket tools and equipment. Essendant was formed in 1922 and is based in Deerfield, Illinois.

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Buyer(S) 1

Buyer

Sycamore Partners

New York, New York, United States

website


Category Private Equity Firm
Founded 2011
PE ASSETS 10.0B USD
SizeMega
Type Sector Focused
DESCRIPTION

Sycamore Partners is an opportunistic and operationally focused private equity firm that targets businesses and divisions in the consumer and retail sectors. The Firm looks to partner with management teams to improve the operating profitability and strategic value of their businesses. Sycamore was formed in 2011 and is based in New York City.


DEAL STATS #
Overall 17 of 19
Sector (Distribution) 1 of 1
Type (Divestiture) 4 of 6
State (Illinois) 1 of 1
Country (United States) 15 of 17
Year (2019) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-11-07 Pure Fishing, Inc.

Columbia, South Carolina, United States

Pure Fishing is a manufacturer and marketer of fishing tackle and accessories that sells products in 18 countries under the Berkley, Trilene, Abu Garcia, Mitchell, Fenwick, Spider, Johnson and Red Wolf brands. Pure Fishing, Inc. was founded in 1937 and is based in Columbia, South Carolina.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-07-31 CWC DIRECT LLC

Cincinnati, Ohio, United States

Coldwater Creek is a women's apparel and accessories brand that has developed a loyal customer base over its history.

Sell -

Seller(S) 1

SELLER

Staples, Inc.

Framingham, Massachusetts, United States

website


Category Company
Founded 1985
SectorRetail
Employees42,554
Revenue 18.2B USD (2017)
DESCRIPTION
Staples' corporate headquarters in Framingham, Massachusetts.
Staples' corporate headquarters in Framingham, Massachusetts.

Staples is a large office supply retailer. Staples sells and distributes a variety of office products for consumers as well as small to large companies around the world. Staples was formed in 1985 and is based in Framingham, Massachusetts.


DEAL STATS #
Overall 9 of 9
Sector (Distribution) 2 of 2
Type (Divestiture) 9 of 9
State (Illinois) 2 of 2
Country (United States) 5 of 5
Year (2019) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-09-14 Essendant, Inc.

Deerfield, Illinois, United States

Essendant is a national wholesale distributor of workplace items including traditional office products and office furniture, janitorial, sanitation and breakroom supplies, technology products, industrial supplies, and automotive aftermarket tools and equipment. Essendant was formed in 1922 and is based in Deerfield, Illinois.

Buy $996M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-02-11 DEX Imaging, Inc.

Tampa, Florida, United States

DEX Imaging, Inc. is an independent dealer of Kyocera, Konica Minolta, and Canon document imaging equipment. DEX Imaging sells and service printers, copiers, fax units, and digital data management software. DEX Imaging was founded in 2002 and is based in Tampa, Florida.

Buy -