Sycamore Partners Mergers and Acquisitions Summary

Private Equity Profile

In the last 3 years, Sycamore Partners has acquired 5 companies.

Sycamore Partners’ most common sectors for investment are retail (37%) and apparel/textiles (32%). The Firm’s most common investment types include divestiture (32%) and buyout (lbo, mbo, mbi) (22%). In total, Sycamore Partners has invested in 11 US states and 3 different countries. Its largest (disclosed) acquisition occurred in 2017 when it acquired Staples for $6.9B.

In the last 3 years, Sycamore Partners has exited 3 companies. The Firm’s most common exit type is trade sale (38%). Sycamore Partners’ largest (disclosed) exit occurred in 2015 when it sold Stuart Weitzman Holdings for $530M.

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M&A Summary

  • M&A Total Activity27
    • M&A Buy Activity19
    • M&A Sell Activity8
  • Total Sectors Invested 8
  • Total Countries Invested 3
  • M&A Buy/Sell Connections 11
  • M&A Advisors 9

Sycamore Partners

9 West 57 Street, 31st Floor,
New York, New York 10019
United States
(212) 796-8500
www.sycamorepartners.com
info@sycamorepartners.com

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.


Investment Criteria

Sectors of Interest: Apparel/Textiles, Consumer Products, Consumer Services, Retail

Target Transaction Types: Buyout (LBO, MBO, MBI), Divestiture, Going Private, Growth Capital, Special Situations/Distressed, PIPE, Secondary Buyout

Geographic Preferences: East US, Midwest US, South US, West US, United Kingdom, Western Europe, Scandinavia

Transaction Criteria Min Max
Target Revenue - -
Target EBITDA - -
Investment Size - -
Enterprise Value - -

M&A Summary

Buy vs Sell

Year ≤ '16 '17 '18 '19 '20 '21 T
Buy (1.6/yr) # 11 3 2 1 1 1 19
vol $6.2B $6.9B $1.1B $201M $14.4B
Sell (1.0/yr) # 3 2 2 - 1 - 8
vol $530M $530M
  27

Most Recent M&A

Company Date Value Type
Azamara 2021-01-19 201M USD Divestiture
Miami, Florida · www.azamara.com
Ascena Retail Group, Inc. - Ann Taylor, LOFT, Lou & Grey and Lane Bryant 2020-12-23 - Divestiture
Mahwah, New Jersey
CWC DIRECT LLC 2020-07-31 - Shut Down
Cincinnati, Ohio · www.coldwatercreek.com
Essendant, Inc. 2019-01-31 - Divestiture
Deerfield, Illinois · www.essendant.com
Pure Fishing, Inc. 2018-11-07 - Divestiture
Columbia, South Carolina · www.purefishing.com
E.M.P. Merchandising Handelsgesellschaft mbH 2018-09-17 - Add-on Acquisition
Lingen, Germany · www.emp-online.com
Nine West Holdings, Inc. 2018-04-06 - Bankruptcy
White Plains, New York · www.ninewest.com
Commerce Technologies LLC 2018-03-06 1.1B USD Going Private
Albany, New York · www.commercehub.com
Staples, Inc. 2017-06-28 6.9B USD Going Private
Framingham, Massachusetts · www.staples.com
Dollar Express, LLC 2017-04-28 - Trade Sale - Public Company
Chesapeake, Virginia
View All >>

Portfolio M&A

Company Acquired Add-On/Sale Date #
Pure Fishing, Inc. 2018-11-07 Plano Synergy 2021-04-20 1
Columbia, South Carolina · www.purefishing.com Grand Prairie, Texas · www.planosynergy.com
Essendant, Inc. 2019-01-31 ORS MEDCO 2019-10-17 1
Deerfield, Illinois · www.essendant.com Deerfield, Illinois
Staples, Inc. 2017-06-28 Essendant, Inc. 2019-01-31 2
Framingham, Massachusetts · www.staples.com Deerfield, Illinois · www.essendant.com
Staples, Inc. 2017-06-28 SchoolKidz Inc. 2018-03-16 1
Framingham, Massachusetts · www.staples.com Woodridge, Illinois · www.schoolkidz.com
Hot Topic, Inc. 2013-06-12 Her Universe 2016-10-28 1
City of Industry, California · www.hottopic.com , United States · www.heruniverse.com

M&A by Sector

Sector Current # Value All-time # Value
Retail 5 (42%) 10.9B (89%) 7 (37%) 10.9B (76%)
Apparel/Textiles 2 (17%) - 6 (32%) 2.2B (15%)
Software 1 (8%) 1.1B (9%) 1 (5%) 1.1B (8%)
Leisure 1 (8%) 201M (2%) 1 (5%) 201M (1%)
Consumer Products 1 (8%) - 1 (5%) -
Distribution 1 (8%) - 1 (5%) -
Furniture 1 (8%) - 1 (5%) -
Internet Software and Services - - 1 (5%) -
Total 12 $12.2B 19 $14.4B

Acquisitions By Geo

State/Country Current # Value All-time # Value
United States 12 (100%) 12.2B (100%) 17 (89%) 14.4B (100%)
  New York 1 (8%) 1.1B (9%) 4 (21%) 3.3B (23%)
  Ohio 2 (17%) - 3 (16%) -
  Massachusetts 2 (17%) 7.3B (60%) 2 (11%) 7.3B (51%)
  North Carolina 1 (8%) 3.0B (25%) 1 (5%) 3.0B (21%)
  California 1 (8%) 600M (5%) 1 (5%) 600M (4%)
  Florida 1 (8%) 201M (2%) 1 (5%) 201M (1%)
  Texas 1 (8%) - 1 (5%) -
  South Carolina 1 (8%) - 1 (5%) -
  New Jersey 1 (8%) - 1 (5%) -
  Illinois 1 (8%) - 1 (5%) -
  Virginia - - 1 (5%) -
United Kingdom - - 1 (5%) -
Germany - - 1 (5%) -
Domestic 12 (100%) 12.2B (100%) 17 (89%) 14.4B (100%)
Cross-border - - 2 (11%) -
Total 12 $12.2B 19 $14.4B

Acquisitions by Deal Type

Type Current # Value All-time # Value
Divestiture 4 (33%) 201M (2%) 6 (32%) 201M (1%)
Going Private 3 (25%) 8.6B (71%) 4 (21%) 10.8B (75%)
Buyout (LBO, MBO, MBI) 2 (17%) 3.4B (28%) 4 (21%) 3.4B (24%)
Special Situations/Distressed 1 (8%) - 2 (11%) -
PIPE - - 1 (5%) -
Secondary Buyout 1 (8%) - 1 (5%) -
Stake Purchase 1 (8%) - 1 (5%) -
Total 12 $12.2B 19 $14.4B

Exits by Deal Type

Type Total # Value
Trade Sale - Public Company 2 (25%) 530M (100%)
Secondary Sale 2 (25%) -
Trade Sale 2 (25%) -
Bankruptcy 1 (13%) -
Shut Down 1 (13%) -
Total 8 $530M

Top M&A Advisors

Financial Deals
Bank of America Merrill Lynch (BofA Securities)
 5
Guggenheim Securities
 1
Citigroup Investment Banking
 1
Legal Deals
Kirkland & Ellis LLP
 4
Winston & Strawn LLP
 3
Simpson Thacher & Bartlett LLP
 1

Deal Values

buy # Total
> $1B 4 $13.2B
$100M to $1B 3 $1.2B
TOTAL $14.4B
Largest Staples, Inc.
$6.9B (2017-06-28)
sell # Total
$100M to $1B 1 $530M
TOTAL $530M
Largest Stuart Weitzman Holdings LLC
$530M (2015-01-06)

M&A Connections

Deals
Acquired from
Investor(s)
5%
1 (5%)
Strategic(s)
37%
7 (37%)
Exited to
Investor(s)
25%
2 (25%)
Strategic(s)
38%
3 (38%)

Investor Summary

Size

Mega

PE Assets

10.0B USD

Established

2011

Specialist/Generalist

Specialist

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