M&A Deal Summary

The Carlyle Group Acquires Arctic Glacier

On March 20, 2017, private equity firm The Carlyle Group acquired beverages company Arctic Glacier, Inc. from H.I.G. Capital, Prospect Capital Corporation and Harvest Partners Structured Capital

Acquisition Highlights
  • This is The Carlyle Group’s 2nd transaction in the Beverages sector.
  • This is The Carlyle Group’s 9th transaction in Canada.
  • This is The Carlyle Group’s 1st transaction in Manitoba.

M&A Deal Summary

Date 2017-03-20
Target Arctic Glacier, Inc.
Sector Beverages
Buyer(s) The Carlyle Group
Sellers(s) H.I.G. Capital
Prospect Capital Corporation
Harvest Partners Structured Capital
Deal Type Secondary Buyout

Target

Arctic Glacier, Inc.

Winnipeg, Manitoba, Canada
website
Arctic Glacier is a producer, marketer and distributor of packaged ice, with a strong and loyal customer base across Canada and much of the northern, central and western United States.

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Buyer(S) 1

Buyer

The Carlyle Group

Washington, District of Columbia, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1987
PE ASSETS 84.0B USD
SizeMega
Type Sector Agnostic
DESCRIPTION
Carlyle's corporate headquarters on Pennsylvania Ave. in Washington, DC.
Carlyle's corporate headquarters on Pennsylvania Ave. in Washington, DC.

The Carlyle Group is a global investment firm that pursues private equity, credit, and real estate investments worldwide. Carlyle's private equity practice practice pursues buyouts, strategic minority equity investments, equity private placements, consolidations and buildups, and growth capital financings. With offices in 19 countries, Carlyle can easily target opportunities throughout North America, Europe, Asia, Australia, the Middle East/North Africa and Latin America. Broad sectors of interest include aerospace, defense, automotive and transportation, consumer, retail, energy and power, financial services, healthcare, industrial, infrastructure, technology services, business services, telecommunications and media. The Carlyle Group was formed in 1987 and is based in Washington DC.


DEAL STATS #
Overall 579 of 671
Sector (Beverages) 2 of 3
Type (Secondary Buyout) 80 of 114
State (Manitoba) 1 of 1
Country (Canada) 9 of 11
Year (2017) 4 of 27
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-03-10 Edelweiss Financial Services Ltd.

Mumbai, India

Edelweiss Financial Services is an Indian domestic brokerage house and is fast emerging as a diversified financial services conglomerate. The Company is based in Mumbai.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-03-24 Delhivery Logistics Pvt. Ltd.

Gurgaon,, India

Delhivery Logistics is a supply chain services company focused on digital commerce. Delhivery provides express logistics services in over 600 cities in India and in more than 8,500 pin-codes and operates 12 fulfillment centers for B2C and B2B fulfillment services.

Buy -

Seller(S) 3

SELLER

H.I.G. Capital

Miami, Florida, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1993
PE ASSETS 25.0B USD
SizeMega
Type Sector Agnostic
DESCRIPTION

HIG Private Equity is the private equity arm of HIG Capital LLC. The firm focuses on management buyouts, growth equity investments, and recapitalizations of middle market companies with an enterprise value of $50 - $500 million. The Firm also will consider add-on acquisitions, industry consolidations, going-privates, and corporate divestitures. Sectors of interest include aerospace, building materials, business services, consumer products, distribution, healthcare, infrastructure, contracting, manufacturing, media, oil & gas services, IT, and transportation. HIG was formed in 1993 and has offices in Miami, Atlanta, Boston, and San Francisco. HIG's European affiliate is HIG Europe with offices in London, Hamburg, and Paris.


DEAL STATS #
Overall 83 of 133
Sector (Beverages) 1 of 1
Type (Secondary Buyout) 33 of 54
State (Manitoba) 1 of 1
Country (Canada) 2 of 4
Year (2017) 5 of 13
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-03-17 Advanced Environmental Recycling Technologies, Inc.

Springdale, Arkansas, United States

Advanced Environmental Recycling Technologies, Inc. (“AERT”) is a provider in plastic recycling technologies, specializing in recycling polyethylene plastics for the manufacture of composite building materials and for the sale of recycled resin to other extruders of plastic products.

Sell $117M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-04-17 Barnet Dulaney Perkins, Inc.

Phoenix, Arizona, United States

Barnet Dulaney Perkins is an eye care practice offering a full range of medical and surgical eye care services including treatments for cataracts, glaucoma, retinal disorders and oculoplastics. BDP operates optometry clinics, ophthalmology clinics and ambulatory surgical centers throughout Arizona with a strong presence in the metro Phoenix region.

Buy -
SELLER

Prospect Capital Corporation

New York, New York, United States

Investor Investor Investor Investor Investor

website


Category Business Development Company
Founded 1988
SizeMiddle-Market
Type Sector Agnostic
DESCRIPTION

Prospect Capital Corporation is a publicly traded mezzanine debt and private equity firm that primarily provides non-control financing to support growth, recapitalizations, acquisitions, and development. Prospect will selectively consider control acquisitions by providing multiple levels of the capital structure. Prospect was initially formed in 1988 and went public 2004. The Firm is based in New York City.


DEAL STATS #
Overall 38 of 43
Sector (Beverages) 1 of 1
Type (Secondary Buyout) 20 of 22
State (Manitoba) 1 of 1
Country (Canada) 1 of 1
Year (2017) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-11-17 Empire Today LLC

Northlake, Illinois, United States

Empire Today is a provider of installed home improvements and home furnishings. Empire serves residential and business customers with a wide selection of products suitable for homes, small businesses, organizations, and commercial applications. Empire’s line of quality, name-brand products includes carpet, hardwood, laminate, ceramic, vinyl flooring, and window treatments. The company provides shop-at-home convenience or on-site consultation, next-day professional installation on many products, quality products at great prices, and world-class service to about 70 of the largest metropolitan areas in the US. Empire Today was founded in 1959 and is based in Northlake, Illinois.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-09-21 Hudson Products Corp.

Beasley, Texas, United States

Hudson Products Corp. is a provider of heat transfer solutions firms providing air-cooled heat exchangers and axial-flow fans to some of the largest processors in the petroleum, natural gas, power generation, petrochemical and chemical industries.

Sell $410M
SELLER

Harvest Partners Structured Capital

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 2014
SizeLarge
Type Sector Agnostic
DESCRIPTION

Harvest Partners Structured Capital is a private investment group focused on businesses in need of capital, but where the business owners do not seek to give up control. The Group looks for businesses generating $100 to $1000 million in revenues where Harvest can commit $50 to $250 million. Sectors of interest include business services, consumer services, healthcare, industrial services, manufacturing, and distribution. Harvest Partners Structured Capital is a unit of PE Firm Harvest Partners. The Firm is based in New York City.


DEAL STATS #
Overall 2 of 5
Sector (Beverages) 1 of 1
Type (Secondary Buyout) 1 of 3
State (Manitoba) 1 of 1
Country (Canada) 1 of 1
Year (2017) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-01-30 GPM Investments LLC

Richmond, Virginia, United States

GPM Investments LLC is a privately-owned convenience store operator and branded fuel distributor in the U.S. GPM Investments is based in Richmond, Virginia.

Buy $63M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-03-01 Gehl Foods, Inc.

Germantown, Wisconsin, United States

Gehl Foods, Inc. is a manufacturer of ready-to-serve, real dairy products like cheese sauces, puddings, yogurt, and dairy-based beverages. Gehl Foods was founded in 1896 and is based Germantown, Wisconsin.

Buy -