M&A Deal Summary

4x4 Capital and Bain Capital Private Equity Acquire 1440 Foods

On October 4, 2021, private equity firms 4x4 Capital and Bain Capital Private Equity acquired consumer products company 1440 Foods from KKR and The Carlyle Group

Acquisition Highlights
  • This is 4x4 Capital’s 1st and Bain Capital Private Equity’s 11th transaction in the Consumer Products sector.
  • This is 4x4 Capital’s 1st and Bain Capital Private Equity’s 107th transaction in the United States.
  • This is 4x4 Capital’s 1st and Bain Capital Private Equity’s 5th transaction in New York.

M&A Deal Summary
Date 2021-10-04
Target 1440 Foods
Sector Consumer Products
Buyer(s) 4x4 Capital
Bain Capital Private Equity
Sellers(s) KKR
The Carlyle Group
Deal Type Secondary Buyout

Target

1440 Foods

New York, New York, United States
1440 Foods is a functional snacking and active lifestyle platform with 4 brands: Pure Protein, Met RX, Body Fortress, and Balance Bar. The Company sells protein bars, protein powders, ready-to-drink protein shakes, and protein salty snacks. 1440 Foods is based in New York City.

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Buyer(S) 2

Buyer

4x4 Capital

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2018
Size Small
Type Sector Focused
DESCRIPTION

4x4 Capital is an operational private investment firm focused on middle-market companies in the consumer and services sectors. 4x4 Capital was established in 2018 and is headquartered in New York City.

DEAL STATS #
Overall 1 of 2
Sector (Consumer Products) 1 of 1
Type (Secondary Buyout) 1 of 1
State (New York) 1 of 1
Country (United States) 1 of 2
Year (2021) 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-02-28 Yelloh

Marshall, Minnesota, United States

Yelloh is a direct-to-consumer frozen food delivery company that provides customers with frozen foods for every mealtime occasion, including premium meats, poultry, and seafood; a variety of side dishes and appetizers; breakfast items; pizzas; ice cream, desserts, and more. Yelloh was formed in 1952 and is based in Marshall, Minnesota.

Buy -
Buyer

Bain Capital Private Equity

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1984
PE ASSETS 44.2B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Bain Capital Private Equity (BCPE), is the private equity investment arm of alternative asset management firm, Bain Capital. BCPE targets leveraged buyout and growth capital transactions in a wide variety of industries including information technology, communications, media, healthcare, industrial/manufacturing, retail/consumer, and financial services. Bain Capital is based in Boston with additional offices in New York, London, Mumbai, Hong Kong, Shanghai, Tokyo, and Munich.

DEAL STATS #
Overall 206 of 238
Sector (Consumer Products) 11 of 13
Type (Secondary Buyout) 54 of 67
State (New York) 5 of 5
Country (United States) 107 of 124
Year (2021) 14 of 17
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-09-27 ITP Aero

Zamudio, Spain

ITP Aero is an aerospace and engine component supplier in the world with its production centres in Spain, UK, Mexico, Malta, and India. ITP Aero’s activities include the design, research and development, manufacturing and casting, assembly, and testing of aeronautical modules and engines for commercial aviation and defense applications. It also provides maintenance repair and overhaul (MRO) services for a wide range of business jet and defense engines, including providing MRO services to the Spanish Ministry of Defence. ITP Aero is based in Zamudio, Spain.

Buy €1.7B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-10-27 Gluware

Sacramento, California, United States

Gluware is intelligent network automation for the enterprise that automates the networks of the world’s largest and most complex enterprises by simplifying how multi-domain, multi-cloud networks are discovered, analyzed, and maintained. Gluware is based in Sacramento, California.

Buy -

Seller(S) 2

SELLER

KKR

New York, New York, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1976
PE ASSETS 267.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION
KKR's office in Menlo Park, California.
KKR's office in Menlo Park, California.

KKR is a global investment firm founded by Jerome Kohlberg, Henry Kravis, and George Roberts. The Firm is separated into several business segments including private markets, public markets, capital markets, and other principal activities. KKR's private equity practice invests in management buyouts, take privates, corporate divestitures, industry consolidations, and partnerships with family-owned companies. KKR will invest in a broad range of industries and companies and will consider businesses throughout North America, Europe, Asia, and Australia/New Zealand. Sectors of interest include chemicals, consumer products, energy and natural resources, financial services, healthcare, industrial, media/communications, retail, and technology. In addition to its traditional principal investment activity business, KKR also invests in infrastructure assets. KKR was formed in 1976 and is based in New York, New York.

DEAL STATS #
Overall 170 of 207
Sector (Consumer Products) 7 of 7
Type (Secondary Buyout) 29 of 36
State (New York) 8 of 9
Country (United States) 75 of 89
Year (2021) 19 of 21
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-09-30 Probe CX

Melbourne, Australia

Probe CX is a provider of customer experience (“CX”) and business process outsourcing (“BPO”) solutions with more than 600 clients and over 15,000 staff located in its 33 offices across the globe. Probe CX was established in 1979 and is based in Melbourne, Australia.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-10-12 Ocean Yield

Lysaker, Norway

Ocean Yield is a ship owning company with investments within oil-service and shipping. Ocean Yield was founded in 2012 and is based in Lysaker, Norway.

Buy $829M
SELLER

The Carlyle Group

Washington, District of Columbia, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1987
PE ASSETS 435.0B USD
Size Mega
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 427 of 482
Sector (Consumer Products) 11 of 13
Type (Secondary Buyout) 94 of 118
State (New York) 17 of 18
Country (United States) 235 of 259
Year (2021) 19 of 30
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-08-17 Workforce Logiq

Orlando, Florida, United States

Workforce Logiq is a global provider of software and services to large corporations in the fast-growing, global workforce management space. Workforce Logiq was formed in 1999 and is based in Orlando, Florida.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-10-05 European Camping Group

Aix-en-Provence, France

European Camping Group is a provider of holiday camping and mobile homes to customers. European Camping Group was formed in 1989 and is based in Aix-en-Provence, France.

Sell -
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