M&A Deal Summary

AEA Investors, Leonard Green & Partners and Goldman Sachs Asset Management Acquire Visual Comfort

On June 24, 2016, private equity firm AEA Investors, private equity firm Leonard Green & Partners and Goldman Sachs Asset Management acquired electrical equipment company Visual Comfort from Quad-C Management and Seidler Equity Partners

Acquisition Highlights
  • This is AEA Investors’ 1st, Leonard Green & Partners’ 1st and Goldman Sachs Asset Management’s 1st transaction in the Electrical Equipment sector.
  • This is AEA Investors’ 62nd, Leonard Green & Partners’ 59th and Goldman Sachs Asset Management’s 4th transaction in the United States.
  • This is AEA Investors’ 5th, Leonard Green & Partners’ 10th and Goldman Sachs Asset Management’s 1st transaction in Texas.

M&A Deal Summary
Date 2016-06-24
Target Visual Comfort
Sector Electrical Equipment
Buyer(s) AEA Investors
Leonard Green & Partners
Goldman Sachs Asset Management
Sellers(s) Quad-C Management
Seidler Equity Partners
Deal Type Secondary Buyout
Advisor(s) Fried Frank Harris Shriver & Jacobson (Legal)

Target

Visual Comfort

Houston, Texas, United States
Visual Comfort is a lighting company with a portfolio of fashionable and functional lighting fixtures, ceiling fans, and decorative products. Visual Comfort was founded in 1987 and is based in Houston, Texas.

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Buyer(S) 3

Buyer

AEA Investors

New York, New York, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1968
PE ASSETS 19.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

AEA Investors is a private investment firm focused on investing in and acquiring businesses headquartered primarily in the US, Europe, and China. AEA looks for companies operating in stable to growing industries with a proven ability to generate positive cash-flow. Broad sectors of interest include value-added industrial products/services, specialty chemicals, consumer products, and services. In addition to its primary middle-market private equity fund, AEA maintains additional funds targeted towards mezzanine financing, senior secured debt, and small business buyouts. AEA Investors was formed in 1968 and is based in New York City.

DEAL STATS #
Overall 73 of 118
Sector (Electrical Equipment) 1 of 3
Type (Secondary Buyout) 32 of 54
State (Texas) 5 of 13
Country (United States) 62 of 103
Year (2016) 3 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-06-21 Dematic

Atlanta, Georgia, United States

Dematic is a global provider of logistics automation equipment with a focus on distribution and industry applications. Dematic Corp. was formed in 2006 and is based in Atlanta, Georgia.

Sell $3.3B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-07-26 RelaDyne

Cincinnati, Ohio, United States

RelaDyne is a distributor of lubricants, fuels & equipment reliability services to the commercial, industrial, and automotive markets. RelaDyne’s distribution platform spans more than 90 locations serving customers across the Central, Mid-Atlantic, and Southern U.S. RelaDyne was formed in 1982 and is based in Cincinnati, Ohio.

Sell -
Buyer

Leonard Green & Partners

Los Angeles, California, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1989
PE ASSETS 75.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Leonard Green & Partners is a mega-sized private equity firm that invests in established companies that are leaders in their respective markets. Leonard Green will consider investments in consumer and business services, consumer products, distribution, media, and retail. Typical transaction values for acquisitions are between $500 million and $2 billion, however, the firm is capable of closing transactions valued up to $5 billion. Types of transactions include public-to-private, recapitalizations of privately held businesses, growth capital, equity capital to facilitate acquisitions, turnarounds/restructurings, and acquisitions of divisions/assets from large corporations. Leonard Green & Partners was formed in 1989 and is based in Los Angeles, California.

DEAL STATS #
Overall 61 of 102
Sector (Electrical Equipment) 1 of 1
Type (Secondary Buyout) 17 of 47
State (Texas) 10 of 16
Country (United States) 59 of 94
Year (2016) 5 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-05-10 FP Holdings

Las Vegas, Nevada, United States

Palms Casino Resort is a 37-acre Las Vegas hotel & casino consisting of The Palms Casino Resort (420 rooms, 1,874 slots and 69 table games), The Fantasy Tower (285 rooms and new pool and concert venue) and Palms Place (599 condos). Palms Casino Resort was formed in 2001 and is based in Las Vegas, Nevada.

Sell $313M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-08-25 Signet Jewelers

Hamilton, Bermuda

Signet Jewelers is engaged in the retail sale of jewelry and watches in the United States, the United Kingdom, the Republic of Ireland, and the Channel Islands. Signet Jewelers is based in Hamilton, Bermuda.

Buy -
Buyer

Goldman Sachs Asset Management

New York, New York, United States
Category Company
Sector Financial Services
DESCRIPTION

Goldman Sachs Asset Management (dba GSAM) is the asset management arm of The Goldman Sachs Group. GSAM offers advisory services to individuals and institutional clients around the world from offices in the US, Europe, and Asia.

DEAL STATS #
Overall 5 of 18
Sector (Electrical Equipment) 1 of 1
Type (Secondary Buyout) 1 of 5
State (Texas) 1 of 2
Country (United States) 4 of 15
Year (2016) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-02-04 Prestige

Veliko Turnovo, Bulgaria

Prestige is one of the food producing companies in Bulgaria and market leader in all categories in which the company operates - biscuits, wafers and mini cakes. Prestige was founded in 1996 and is based in Veliko Turnovo, Bulgaria.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-02-26 Animal Supply Company

Grand Prairie, Texas, United States

Animal Supply Company is a pet food and supply distributor that provides weekly service to customers nationwide. With more than 1,000,000 square feet of warehouse space and some of the most advanced distribution technologies available, the company delivers over 15,000 unique SKUs to more than 9,000 customers with market-leading efficiency and accuracy. Animal Supply Company was formed in 1987 and is based in Grand Prairie, Texas.

Buy -

Seller(S) 2

SELLER

Quad-C Management

Charlottesville, Virginia, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1989
PE ASSETS 3.9B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Quad-C Management is a generalist private equity firm that makes control investments in middle-market companies operating in a wide range of industries. Target sector's include building products, business-to-business services, consumer products, distribution/logistics, equipment rental, financial services, healthcare, light manufacturing, packaging, restaurants, security, and specialty chemicals. Quad-C's target investment size is $50 to $150 million in businesses valued between $100 and $500 million and with EBITDA greater than $10 million. Prospective transaction types include recapitalizations/family successions, management buyouts, and industry consolidations. Quad-C Management was founded in 1989 and is headquartered in Charlottesville, Virginia.

DEAL STATS #
Overall 29 of 47
Sector (Electrical Equipment) 1 of 1
Type (Secondary Buyout) 15 of 27
State (Texas) 3 of 5
Country (United States) 26 of 42
Year (2016) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-03-04 Inmark

Austell, Georgia, United States

Inmark is a general, life sciences, and hazardous goods/biomedical compliant packaging products and associated services company. Inmark was founded in 1975 and is based in Austell, Georgia.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-07-07 Rainbow Child Care Center

Troy, Michigan, United States

Rainbow Child Care Center is a provider of early education services. Rainbow operates 30 high-quality child care schools as well as before/after school programs in the Midwest and Southeast and seeks to expand its footprint organically and through M&A.

Buy -
SELLER

Seidler Equity Partners

Marina del Rey, California, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1992
PE ASSETS 5.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Seidler Equity Partners is a mid-market private equity firm focused on partnering with business owners and management to help build market-leading companies. Seidler will consider funding growth financings, family business transitions, owner-operator recapitalizations, management buyouts, liquidity for estate planning, and traditional buyouts. Seidler looks to invest in businesses with a proven track record and opportunities for growth. Prospective companies typically have minimum revenue of $25 million and EBITDA between $5 and $50 million. Seidler is a generalist firm and will consider investments across a wide range of industries, including manufacturing, service, and distributors. Seidler Equity Partners was formed in 1999 and is based in Marina del Rey, California.

DEAL STATS #
Overall 19 of 23
Sector (Electrical Equipment) 1 of 1
Type (Secondary Buyout) 5 of 7
State (Texas) 1 of 2
Country (United States) 19 of 23
Year (2016) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-10-22 M&R Companies

Roselle, Illinois, United States

M&R Companies is a manufacturer of screen printing equipment for textile and graphic applications, including printing presses, belt printing systems, graphics presses, dryers, cure systems, and pre/post press equipment. M&R Companies was founded in 1985 and is based in Roselle, Illinois.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-06-29 Hal Leonard

Milwaukee, Wisconsin, United States

Hal Leonard is a music publishing company. Hal Leonard publishes and distributes print publishing products for virtually every instrument and performance group. Hal Leonard was founded in 1947 and is based in Milwaukee, Wisconsin.

Buy -
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