M&A Deal Summary

Akoya Capital Partners, Balance Point Capital Partners and Plexus Capital Acquire Food Evolution

On September 29, 2014, private equity firm Akoya Capital Partners, mezzanine finance firm Balance Point Capital Partners and private equity firm Plexus Capital acquired food company Food Evolution

Acquisition Highlights
  • This is Akoya Capital Partners’ 2nd, Balance Point Capital Partners’ 2nd and Plexus Capital’s 4th transaction in the Food sector.
  • This is Akoya Capital Partners’ 11th, Balance Point Capital Partners’ 15th and Plexus Capital’s 58th transaction in the United States.
  • This is Akoya Capital Partners’ 1st, Balance Point Capital Partners’ 1st and Plexus Capital’s 3rd transaction in Illinois.

M&A Deal Summary

Date 2014-09-29
Target Food Evolution
Sector Food
Buyer(s) Akoya Capital Partners
Balance Point Capital Partners
Plexus Capital
Deal Type Consolidation
Advisor(s) The Peakstone Group (Financial)

Target

Food Evolution

Schiller Park, Illinois, United States
Food Evolution is a producer of “gourmet,” fresh-prepared, grab-n-go sandwiches, wraps, salads and side dishes for numerous channels, including retail, food service, airports, universities, and contract feeders. Food Evolution is based in Schiller Park, Illinois.

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Buyer(S) 3

DESCRIPTION

Akoya Capital Partners is a private equity firm focused on acquiring profitable US-based middle-market companies with $25 to $200 million in revenue. The Firm generally pursues privately-owned companies, especially family-owned businesses. Sectors of interest include chemicals, food, information services, consumer products, industrial products, and industrial distribution. Akoya Capital Partners was formed in 2005 and is based in Chicago, Illinois.


DEAL STATS #
Overall 11 of 25
Sector (Food) 2 of 3
Type (Consolidation) 1 of 1
State (Illinois) 1 of 3
Country (United States) 11 of 25
Year (2014) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-03-05 Edge Adhesives

Forth Worth, Texas, United States

Edge Adhesives is a developer and manufacturer of innovative adhesives, sealants, tapes, and related solutions used in building products, transportation, electrical, HVAC, and other markets. Edge Adhesives was founded in 1980 and is based in Forth Worth, Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-01-05 Inflexxion

Newton, Massachusetts, United States

Inflexxion, Inc. is a healthcare information provider with proprietary SaaS products. The company gathers patient data at addiction, behavioral health and chronic pain treatment centers to produce patient analytics, which provides critical information on drug product usage and risks to its pharmaceutical clients. Inflexxion was founded in 1989 and is based in Newton, Massachusetts.

Buy -
Buyer

Balance Point Capital Partners

Westport, Connecticut, United States

Investor Investor Investor Investor Investor


Category Mezzanine Finance Firm
Founded 2007
PE ASSETS 1.7B USD
Size Small
Type Sector Agnostic
DESCRIPTION

Balance Point Capital Advisors is a provider of equity and debt capital to middle-market US-based companies. The Firm looks to invest $5 to $30 million in companies generating $10 $150 million in revenue. The Firm invest in the range of $15 to $75 million with and enterprise value of $10 to $150 million. Funds are used to support a variety of needs, including private equity sponsored buyouts, strategic acquisitions, refinancing's, management buyouts, leveraged recapitalizations, and growth capital financing needs. Balance Point Capital is based in Westport, Connecticut.


DEAL STATS #
Overall 15 of 46
Sector (Food) 2 of 3
Type (Consolidation) 2 of 2
State (Illinois) 1 of 2
Country (United States) 15 of 44
Year (2014) 6 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-09-01 PlayMonster

Beloit, Wisconsin, United States

PlayMonster is a provider in the toy and game industry, and designs, manufactures, distributes, and markets games, children’s puzzles, preschool toys, creative activities, and teaching tools. PlayMonster was founded in 1985 and is based in Beloit, Wisconsin.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-06-10 Family Entertainment Group

Itasca, Illinois, United States

Family Entertainment Group is a designer, developer, and operator of amusement centers. FEG has partnerships with family-oriented resorts to provide turnkey outsourced solutions for amusement operations ranging from initial design and layout to day-to-day site management and operations. Family Entertainment Group was founded in 2004 and is based in Itasca, Illinois.

Buy -
Buyer

Plexus Capital

Charlotte, North Carolina, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1995
PE ASSETS 2.2B USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Plexus Capital is a private equity firm that invests in buyouts, acquisitions, recapitalizations and growth financings in the form of junior and/or equity capital. Plexus focuses on lower middle-market businesses located in the Mid-Atlantic and Southeast areas of the US. The Firm looks for businesses companies in the business services, consumer services, manufacturing, value-added distribution, and healthcare sectors with up to $2 to $15 million of cash-flow. Plexus Capital was formed in 1995 and is based in Charlotte, North Carolina.


DEAL STATS #
Overall 58 of 97
Sector (Food) 4 of 5
Type (Consolidation) 1 of 1
State (Illinois) 3 of 4
Country (United States) 58 of 97
Year (2014) 4 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-09-01 Inland Metal

Hayward, California, United States

Inland Metal is a provider of precision sheet metal fabrication, contract manufacturing, and engineering resources. Inland Metal was founded in 1964 and is based in Hayward, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-11-12 MD On-Line

Parsippany, New Jersey, United States

MD On-Line, Inc. is a provider in healthcare information technology company that works closely with providers, payers, and clearinghouses to facilitate the insurance claims process by increasing and facilitating electronic claims.

Sell -