M&A Deal Summary

Monomoy Capital Partners and Torch Lake Capital Partners Acquire Awrey s Bakeries

On August 29, 2006, private equity firm Monomoy Capital Partners and distressed investor Torch Lake Capital Partners acquired food company Awrey s Bakeries for 25M USD

Acquisition Highlights
  • This is Monomoy Capital Partners’ 1st and Torch Lake Capital Partners’ 2nd transaction in the Food sector.
  • This is Monomoy Capital Partners’ 5th and Torch Lake Capital Partners’ largest (disclosed) transaction.
  • This is Monomoy Capital Partners’ 3rd and Torch Lake Capital Partners’ 4th transaction in the United States.
  • This is Monomoy Capital Partners’ 2nd and Torch Lake Capital Partners’ 1st transaction in Michigan.

M&A Deal Summary

Date 2006-08-29
Target Awrey s Bakeries
Sector Food
Buyer(s) Monomoy Capital Partners
Torch Lake Capital Partners
Deal Type Special Situations/Distressed
Deal Value 25M USD

Target

Awrey s Bakeries

Livonia, Michigan, United States
website
Awrey Bakeries, Inc., is a premium foodservice bakeries in the United States, serving markets ranging from national food service distributors to the U.S. Military. Awrey produces and sells high quality finished frozen baked goods, including danish,cakes, muffins, croissants, brownies, donuts, rolls and biscuits, to major food distributors and retail outlets in each of the 50 States, Canada and other locations.

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Buyer(S) 2

Buyer

Monomoy Capital Partners

New York, New York, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 2005
PE ASSETS 2.7B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Monomoy Capital Partners is a private equity firm that invests in mid to large-sized companies valued up to $1 billion. Monomoy prefers cash flow positive companies with $20 to $100 million of EBITDA. Sectors of interest include automotive, industrial, distribution, consumer products, packaging, and transportation. Monomoy Capital Partners was formed in 2005 and is headquartered in New York City.


DEAL STATS #
Overall 3 of 43
Sector (Food) 1 of 2
Type (Special Situations/Distressed) 1 of 3
State (Michigan) 2 of 5
Country (United States) 3 of 43
Year (2006) 2 of 4
Size (of disclosed) 5 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2006-01-09 Barjan Products

Rock Island, Illinois, United States

Barjan Products LLC is a national marketer and distributor of automotive, electronic, entertainment and general merchandise products to travel centers, mass merchants, automotive retailers, car washes, convenience stores and other distribution channels. Products are sold under a variety of well-positioned brands, including Barjan, Trucker Tough, Diesel, Wilson, Francis, Victor, and Monkey Grip.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2006-12-05 SRC Worldwide

Cleveland, Ohio, United States

SRC Worldwide is a producer of fused magnesium flux, a critical chemical component in the production and recycling of magnesium and aluminum alloys. Magnesium flux is also used in a variety of industrial and other applications, including desiccants and the manufacture of specialized catalysts.

Buy -
Buyer

Torch Lake Capital Partners

Chicago, Illinois, United States

website


Category Distressed Investor
Founded 2002
PE ASSETS 73M USD
Size Small
Type Sector Agnostic
DESCRIPTION

Torch Lake Capital Partners is a private investment firm that targets underperforming, North American companies in manufacturing, consumer products, business services, and retailing. Torch Lake Capital looks to invest up to $20 million in companies generating up to $300 million in revenue. The Firm prefers control positions in acquired businesses, but will consider select non-control positions as well. The Firm's investment horizon is two to seven years. Torch Lake Capital Partners was formed in 2002 and is based in Chicago, Illinois.


DEAL STATS #
Overall 4 of 7
Sector (Food) 2 of 3
Type (Special Situations/Distressed) 1 of 1
State (Michigan) 1 of 1
Country (United States) 4 of 5
Year (2006) 2 of 3
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2006-07-12 Rx Label Technology

Joplin, Missouri, United States

Rx Label Technology Corp. is a provider of pressure sensitive prescription drug labels to the growing North American retail pharmacy market with largest market share.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2006-10-12 Red Apple Stores

Mississauga, Ontario, Canada

Red Apple Stores operates 140 extreme value stores throughout Canada (excluding Quebec) which serve middle-income consumers in rural secondary and tertiary markets and select urban markets. Red Apple Stores is based in Mississauga, Ontario.

Buy -