M&A Deal Summary

The Compass Group Acquires Lugano Diamonds & Jewelry

On September 7, 2021, private equity firm The Compass Group (Compass Diversified Holdings LLC) acquired consumer products company Lugano Diamonds & Jewelry, Inc. from Boathouse Capital, Alcentra Capital Corporation and RF Investment Partners for 256M USD

Acquisition Highlights
  • This is The Compass Group’s 7th transaction in the Consumer Products sector.
  • This is The Compass Group’s 3rd largest (disclosed) transaction.
  • This is The Compass Group’s 22nd transaction in the United States.
  • This is The Compass Group’s 6th transaction in California.

M&A Deal Summary

Date 2021-09-07
Target Lugano Diamonds & Jewelry, Inc.
Sector Consumer Products
Buyer(s) The Compass Group (Compass Diversified Holdings LLC)
Sellers(s) Boathouse Capital
Alcentra Capital Corporation
RF Investment Partners
Deal Type Secondary Buyout
Deal Value 256M USD
Advisor(s) Holland & Knight LLP (Legal)

Target

Lugano Diamonds & Jewelry, Inc.

Newport Beach, California, United States
website
Lugano Diamonds & Jewelry is an international jewelry firm provides jewelry art in addition to being a leading jeweler to the ultra-high net worth clients. Each design is a signature creation by Lugano Diamonds, featuring artistic, one-of-a-kind settings. Lugano Diamonds & Jewelry was established in 1974 and is based in Newport Beach, California.

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Buyer(S) 1

Buyer

The Compass Group (Compass Diversified Holdings LLC)

Westport, Connecticut, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1998
SizeMiddle-Market
Type Sector Agnostic
DESCRIPTION

The Compass Group is a diversified holding company focused on acquiring controlling interests in profitable small to middle-market businesses in attractive niche industries. Compass generally looks for US-based companies with proven management in place, low technological and/or product obsolescence risk, diverse customers, and EBITDA of at least $10 million. The Compass Group was founded in 1998 and is headquartered in Westport, Connecticut.


DEAL STATS #
Overall 23 of 23
Sector (Consumer Products) 7 of 7
Type (Secondary Buyout) 12 of 12
State (California) 6 of 6
Country (United States) 22 of 22
Year (2021) 1 of 1
Size (of disclosed) 3 of 15
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-08-25 Liberty Safe & Security Products, Inc.

Payson, Utah, United States

Liberty Safe is a provider of full-size residential safes in the U.S. The company offers the broadest line of home, gun, office, and commercial safes available from any one company. The company's products are offered under three popular brands–Liberty, National Security, and Centurion. Liberty Safe & Security Products was established in 1988 and is based in Payson, Utah.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-10-14 Advanced Circuits, Inc.

Aurora, Colorado, United States

Advanced Circuits is a manufacturer of quick-turn, prototype, and production rigid printed circuit boards (“PCBs”). Customers include research and development professionals at OEMs and academic institutions in the United States and Canada. Advanced Circuits was established in 1989 and is based in Aurora, Colorado.

Sell $310M

Seller(S) 3

SELLER

Boathouse Capital

Wayne, Pennsylvania, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 2008
PE ASSETS 350M USD
SizeMiddle-Market
Type Sector Agnostic
DESCRIPTION

Boathouse Capital is a provider of mezzanine and equity capital to lower middle-market companies in a variety of industries. The Firm works in partnership with management teams and private equity firms in funding private equity sponsored buyouts, management buyouts, recapitalizations, refinancings, and growth capital financings. Boathouse can commit up to $20 million per transaction and generally pursues companies with 'exceptional' management, sustainable competitive advantages, growing end markets, 'sticky' business models, and diversified customers. Boathouse seeks companies with at least $10 million in revenues and at least $5 million of EBITDA. Boathouse is based in Wayne, Pennsylvania.


DEAL STATS #
Overall 15 of 16
Sector (Consumer Products) 1 of 1
Type (Secondary Buyout) 3 of 3
State (California) 2 of 2
Country (United States) 15 of 16
Year (2021) 1 of 2
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-10-29 Hoonuit LLC

Minneapolis, Minnesota, United States

Hoonuit LLC provides educators with the tools needed to make informed, impactful action. Through solutions that provide intuitive analytics and personalized professional development, Hoonuit fuels teacher, staff and student success. Hoonuit LLC was founded in 2000 and is based in Minneapolis, Minnesota.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-11-15 Navint Partners LLC

Henrietta, New York, United States

Navint is a full-service business consulting and enterprise IT transformation firm specializing in managing large-scale business and organizational change for clients with industry vertical expertise in financial services, professional services, and media and entertainment in North America and Europe. Navint was founded in and is based in Henrietta, New York.

Sell -
SELLER

Alcentra Capital Corporation

New York, New York, United States

website


Category Mezzanine Finance Firm
Founded 1998
PE ASSETS 540M USD
SizeMiddle-Market
Type Sector Agnostic
DESCRIPTION

Alcentra Capital Corporation is the direct investment arm of asset management firm Alcentra. Alcentra capital looks to provide equity and subordinated debt to middle-market companies throughout North America. The Firm looks to invest $5 to $15 million per transaction in profitable companies with $5 to $15 million of EBITDA. Sectors of interest include healthcare, government services, business services, and defense. Alcentra Capital Corporation was formerly known as BNY Mellon-Alcentra Mezzanine Partners. The Group was originally established in 1998 and is based in New York City.


DEAL STATS #
Overall 37 of 37
Sector (Consumer Products) 4 of 4
Type (Secondary Buyout) 8 of 8
State (California) 5 of 5
Country (United States) 36 of 36
Year (2021) 1 of 1
Size (of disclosed) 7 of 10
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-02-13 Water Cooler Group LLC

New York, New York, United States

Media Storm is a data-driven marketing agency that has created an integrated solution of identifying and converting hand-raisers and driving greater ROI through accountable and active media. Media Storm data science and optimization platform, JubaPlus, has replaced traditional planning, allowing for unmatched predictability and true business results.

Sell -
SELLER

RF Investment Partners

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 2016
PE ASSETS 284M USD
SizeMiddle-Market
Type Sector Agnostic
DESCRIPTION


DEAL STATS #
Overall 3 of 3
Sector (Consumer Products) 1 of 1
Type (Secondary Buyout) 2 of 2
State (California) 1 of 1
Country (United States) 3 of 3
Year (2021) 2 of 2
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-08-17 SPATCO Energy Solutions

Charlotte, North Carolina, United States

SPATCO is a distributor and service of liquid handling equipment to the petroleum and industrial market. SPATCO was founded in 1953 and is based in Charlotte, North Carolina.

Sell -