Sycamore Partners Mergers and Acquisitions Summary

Private Equity Profile

In the last 3 years, Sycamore Partners has acquired 6 companies. It has also invested in 1 other.

Sycamore Partners’ most common sectors for investment are retail (45%) and apparel/textiles (23%). The Firm’s most common investment types include buyout (lbo, mbo, mbi) (23%) and divestiture (23%). In total, Sycamore Partners has invested in 9 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 2 companies. The Firm’s most common exit type is trade sale (60%). 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 Activity23
    • M&A Buy Activity18
    • M&A Sell Activity5
  • Total Sectors Invested 8
  • Total Countries Invested 3
  • M&A Buy/Sell Connections 10
  • M&A Advisors 8

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 a private equity firm focused on consumer and retail investments. 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, 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

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

M&A Summary

Buy vs Sell

Year ≤ '15 '16 '17 '18 '19 '20 T
Buy (1.4/yr) # 11 - 4 2 1 - 18
vol $6.2B $6.9B $1.1B $14.2B
Sell (0.4/yr) # 3 - 1 1 - - 5
vol $530M $530M
  23

Most Recent M&A

Company Date Value Type
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
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
Market Logic Software AG 2017-05-30 - Growth Capital
Berlin, Germany · www.marketlogicsoftware.com
NBG Home 2017-04-27 - Secondary Buyout
Austin, Texas · www.nbg-home.com
The Limited Stores LLC 2017-02-24 - Special Situations/Distressed
Columbus, Ohio · www.thelimited.com
The Kasper Group 2017-01-17 - Add-on Acquisition
New York, New York · www.kasper.com
Kurt Geiger Ltd. 2015-12-14 - Secondary Buyout
London, United Kingdom · www.kurtgeiger.com
View All >>

Portfolio M&A

Company Acquired Add-On/Sale Date #
Essendant, Inc. 2019-01-31 ORS MEDCO 2019-10-17 1
Deerfield, Illinois · www.essendant.com Deerfield, Illinois
Nine West Holdings, Inc. 2014-04-08 Anne Klein 2019-07-18 2
White Plains, New York · www.ninewest.com New York, New York · www.anneklein.com
Staples, Inc. 2017-06-28 DEX Imaging, Inc. 2019-02-11 2
Framingham, Massachusetts · www.staples.com Tampa, Florida · www.deximaging.com
Staples, Inc. 2017-06-28 Essendant, Inc. 2019-01-31 2
Framingham, Massachusetts · www.staples.com Deerfield, Illinois · www.essendant.com
NBG Home 2017-04-27 Quoizel 2019-01-08 1
Austin, Texas · www.nbg-home.com Goose Creek, South Carolina · www.quoizel.com
Staples, Inc. 2017-06-28 HiTouch Business Services LLC 2018-06-26 1
Framingham, Massachusetts · www.staples.com Saddle Brook, New Jersey · www.hitouchservices.com
Staples, Inc. 2017-06-28 SchoolKidz Inc. 2018-03-16 1
Framingham, Massachusetts · www.staples.com Woodridge, Illinois · www.schoolkidz.com
Nine West Holdings, Inc. 2014-04-08 The Kasper Group 2017-01-17 2
White Plains, New York · www.ninewest.com New York, New York · www.kasper.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
Nine West Holdings, Inc. 2014-04-08 Sherson Group, Inc. 2015-08-24 1
White Plains, New York · www.ninewest.com Toronto, Ontario · www.sherson.com

M&A by Sector

Sector Current # Value All-time # Value
Retail 7 (50%) 10.9B (77%) 8 (44%) 10.9B (77%)
Apparel/Textiles 2 (14%) 2.2B (16%) 4 (22%) 2.2B (16%)
Software 1 (7%) 1.1B (8%) 1 (6%) 1.1B (8%)
Consumer Products 1 (7%) - 1 (6%) -
Digital Media 1 (7%) - 1 (6%) -
Distribution 1 (7%) - 1 (6%) -
Furniture 1 (7%) - 1 (6%) -
Internet Software and Services - - 1 (6%) -
Total 14 $14.2B 18 $14.2B

Acquisitions By Geo

State/Country Current # Value All-time # Value
United States 13 (93%) 14.2B (100%) 15 (83%) 14.2B (100%)
  New York 2 (14%) 3.3B (23%) 4 (22%) 3.3B (23%)
  Ohio 3 (21%) - 3 (17%) -
  Massachusetts 2 (14%) 7.3B (51%) 2 (11%) 7.3B (51%)
  North Carolina 1 (7%) 3.0B (21%) 1 (6%) 3.0B (21%)
  California 1 (7%) 600M (4%) 1 (6%) 600M (4%)
  Virginia 1 (7%) - 1 (6%) -
  Texas 1 (7%) - 1 (6%) -
  South Carolina 1 (7%) - 1 (6%) -
  Illinois 1 (7%) - 1 (6%) -
Germany 1 (7%) - 2 (11%) -
United Kingdom - - 1 (6%) -
Domestic 13 (93%) 14.2B (100%) 15 (83%) 14.2B (100%)
Cross-border 1 (7%) - 3 (17%) -
Total 14 $14.2B 18 $14.2B

Acquisitions by Deal Type

Type Current # Value All-time # Value
Going Private 4 (29%) 10.8B (76%) 4 (22%) 10.8B (76%)
Buyout (LBO, MBO, MBI) 2 (14%) 3.4B (24%) 4 (22%) 3.4B (24%)
Divestiture 3 (21%) - 4 (22%) -
Special Situations/Distressed 2 (14%) - 2 (11%) -
Growth Capital 1 (7%) - 1 (6%) -
PIPE - - 1 (6%) -
Secondary Buyout 1 (7%) - 1 (6%) -
Stake Purchase 1 (7%) - 1 (6%) -
Total 14 $14.2B 18 $14.2B

Exits by Deal Type

Type Total # Value
Secondary Sale 2 (40%) -
Trade Sale 2 (40%) -
Trade Sale - Public Company 1 (20%) 530M (100%)
Total 5 $530M

Top M&A Advisors

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

Deal Values

buy # Total
> $1B 4 $13.2B
$100M to $1B 2 $991M
TOTAL $14.2B
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
PE Firm(s)
17%
1 17%
Strategic(s)
83%
5 83%
Exited to
PE Firm(s)
40%
2 40%
Strategic(s)
60%
3 60%

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