Divestiture • Consumer Products

ABS Capital Partners and NMP Capital Acquire Skinit

On July 20, 2010, private equity firm ABS Capital Partners and mezzanine finance firm NMP Capital acquired consumer products company Skinit from Cellfan

Acquisition Context
  • This is ABS Capital Partners’ 1st and NMP Capital’s 9th transaction in the Consumer Products sector.
  • This is ABS Capital Partners’ 36th and NMP Capital’s 40th transaction in the United States.
  • This is ABS Capital Partners’ 5th and NMP Capital’s 3rd transaction in California.

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M&A Deal Summary

Date July 20, 2010
Target Skinit
Sector Consumer Products
Buyer(s) ABS Capital Partners
NMP Capital
Sellers(s) Cellfan
Deal Type Divestiture

Target Company

Skinit

San Diego, California, United States
Skinit, Inc. is an On-Demand Personalization Technology including the manufacturing and distribution of customized products for electronic devices. Skinit's online ordering and customization tools allow consumers to create branded, designed and personalized electronic device covers, or skins, using high quality 3M products. Skinit also offers B2B On-Demand Personalization Platforms as complete turn-key or stand-alone hosted software and service solutions which drive manufacturing technologies such as laser etching, paint on-demand, digital print, film conversion and others. Located in San Diego, Calif.
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Buyers Overview 2

Buyer

ABS Capital Partners

Hunt Valley, Maryland, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1990
PE ASSETS 2.5B USD
Size Large
Type Sector Agnostic
DESCRIPTION

ABS Capital Partners is a private equity firm that invests in later-stage growth companies in the healthcare, technology, business services, media and communications sectors. ABS provides capital to help fund growth, provide shareholder liquidity, pursue acquisitions, or to effect a management buyout. The Firm prefers US based business and will consider both majority and minority positions. ABS looks to commit $10 to $25 million per transaction. ABS Capital was formed in 1990 and has offices in Baltimore, Maryland; Waltham, Massachusetts; and San Francisco, California.


Deal Context for Buyer #
Overall 36 of 65
Sector: Consumer Products 1 of 2
Type: Divestiture 2 of 3
State: California 5 of 8
Country: United States 36 of 63
Year: 2010 2 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-07-12 Cobalt Group

Seattle, Washington, United States

Cobalt Group, Inc. is a provider of automotive digital marketing technology and services.

Sell $400M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2010-08-01 Workscape

Marlborough, Massachusetts, United States

Workscape is a provider of business-critical HR solutions that enable hundreds of organizations to manage their two largest workforce expenditures: employee benefits and performance-driven compensation. Both offerings share a common technology platform, can be readily integrated with existing IT investments, serve millions of employees, and are scalable and configurable to meet the distinct requirements of organizations ranging from 2,000 to 400,000 employees.

Sell -
Buyer

NMP Capital

Minneapolis, Minnesota, United States

Investor Investor Investor Investor Investor


Category Mezzanine Finance Firm
Founded 2000
PE ASSETS 4.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

NMP Capital is an independent investment firm focused on providing junior capital to a variety of lower middle-market companies in partnership with financial sponsors. NMP looks to commit $20 to $75 million in profitable companies with at least $10 million of EBITDA. NMP will consider opportunities in a wide range of industries including distribution, manufacturing, healthcare, and consumer. NMP Capital was formed in 2000 and is based in Minneapolis, Minnesota.


Deal Context for Buyer #
Overall 42 of 90
Sector: Consumer Products 9 of 15
Type: Divestiture 3 of 6
State: California 3 of 7
Country: United States 40 of 87
Year: 2010 4 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-06-17 Edelbrock

Olive Branch, Mississippi, United States

Edelbrock is a designer, manufacturer, and distributor of automotive aftermarket performance parts. The Company operates from six manufacturing and distribution facilities located in Southern California. Edelbrock was founded in 1938 and is based in Olive Branch, Mississippi.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2010-09-15 Hospitality Staffing Solutions

Atlanta, Georgia, United States

Hospitality Staffing Solutions LLC is a provider of outsourced housekeeping and related services to the hospitality sector in the United States. With operations in 38 states and Puerto Rico, HSS provides a comprehensive suite of services, including housekeeping, food service, laundry, and groundskeeping, as well as outsourcing solutions for day-to-day management responsibilities, including hiring, training, and payroll. Founded in 1990, the company currently supports more than 1,000 properties in 75 markets.

Buy -

Seller Profile 1

SELLER

Cellfan

San Diego, California, United States

Category Company
Sector Software
DESCRIPTION

Global Wireless Entertainment, Inc. is a provider of skins, information applications, wallpapers, ringtones as well as 2D and 3D games for mobile phones on the J2ME and BREW(R) platforms. GWE products are distributed Over the Air (OTA) by wireless carriers around the world and pre-loaded by handset manufacturers for specific international markets via the internet and through retail.


Deal Context for Seller #
Overall 1 of 1
Sector: Consumer Products 1 of 1
Type: Divestiture 1 of 1
State: California 1 of 1
Country: United States 1 of 1
Year: 2010 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2006-04-04 Skinit

San Diego, California, United States

Skinit, Inc. is an On-Demand Personalization Technology including the manufacturing and distribution of customized products for electronic devices. Skinit's online ordering and customization tools allow consumers to create branded, designed and personalized electronic device covers, or skins, using high quality 3M products. Skinit also offers B2B On-Demand Personalization Platforms as complete turn-key or stand-alone hosted software and service solutions which drive manufacturing technologies such as laser etching, paint on-demand, digital print, film conversion and others. Located in San Diego, Calif.

Buy -