M&A Deal Summary

Arbor Investments and Capital Southwest Acquire BiOrigin Specialty Products

On August 26, 2016, private equity firm Arbor Investments and business development company Capital Southwest acquired forest products company BiOrigin Specialty Products from Wingate Partners

Acquisition Highlights
  • This is Arbor Investments’ 1st and Capital Southwest’s 1st transaction in the Forest Products sector.
  • This is Arbor Investments’ 22nd and Capital Southwest’s 16th transaction in the United States.
  • This is Arbor Investments’ 1st and Capital Southwest’s 3rd transaction in Georgia.

M&A Deal Summary

Date 2016-08-26
Target BiOrigin Specialty Products
Sector Forest Products
Buyer(s) Arbor Investments
Capital Southwest
Sellers(s) Wingate Partners
Deal Type Secondary Buyout
Advisor(s) Houlihan Lokey (Financial)

Target

BiOrigin Specialty Products

Alpharetta, Georgia, United States
BiOrigin Specialty Products is a supplier of high-performance, specialty paper materials customized for a range of lightweight food packaging, hygiene, and consumer applications. BiOrigin Specialty Products was founded in 1924 and is based in Alpharetta, Georgia.

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Buyer(S) 2

Buyer

Arbor Investments

Chicago, Illinois, United States

Investor Investor Investor Investor


Category Private Equity Firm
Founded 1999
PE ASSETS 2.6B USD
Size Large
Type Sector Focused
DESCRIPTION

Arbor Investments is a private equity group focused on acquiring profitable, middle-market companies in the food and beverage sector. Arbor considers all areas surrounding the food/beverage and related industries. Specific areas of interest include regional niche branded food products; vegetable, fruit, meat and dairy processors; ethnic food manufacturers and marketers; flavors and ingredients; baked goods; restaurant chains; co-packers for major retailers, foodservice companies; food packaging; grocery and specialty food retailers; and logistics providers to the food and beverage industries. Prospective companies generally lead their markets and are 'low-cost operators' with predictable cash-flows. Arbor Investments was formed in 1999 and has offices in Chicago, New York, and Atlanta.


DEAL STATS #
Overall 23 of 34
Sector (Forest Products) 1 of 1
Type (Secondary Buyout) 4 of 8
State (Georgia) 1 of 2
Country (United States) 22 of 31
Year (2016) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-04-21 Artisanal Brewing Ventures

Charlotte, North Carolina, United States

Artisanal Brewing Ventures is an umbrella company of like-minded, best-in-class breweries including Southern Tier Brewing, Victory Brewing, & Sixpoint Brewing. Breweries under the ABV umbrella maintain independence with actively involved founders and a brewery focused Executive Management Team. Artisanal Brewing Ventures was founded in 2014 and is based in Charlotte, North Carolina.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-01-02 Greco and Sons

Bartlett, Illinois, United States

Greco and Sons is an importer, manufacturer, and distributor of food and disposable products to the foodservice industry. Through a comprehensive offering of more than 15,000 products, including their proprietary Greco and Bellissimo brands, the Company is a one-stop-shop for customers within target segments. Greco and Sons was founded in 1990 and is based in Bartlett, Illinois.

Buy -
DESCRIPTION

Capital Southwest Corp. is a credit focused business development company focused on providing financing to profitable, mid-sized companies throughout the US. The Firm doesn't have any sector preferences and will consider a variety of investment structures. Capital Southwest Corp. was originally established in 1961 and is headquartered in Dallas, Texas.


DEAL STATS #
Overall 16 of 48
Sector (Forest Products) 1 of 1
Type (Secondary Buyout) 3 of 5
State (Georgia) 3 of 3
Country (United States) 16 of 47
Year (2016) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-08-05 Perform[cb]

Sarasota, Florida, United States

Perform[cb] is a performance-based digital marketing network that connects advertisers with publishers. The Company provides a network that gives advertisers access to a qualified network of relevant publishers or affiliates, who can provide them with high-value sales leads. Perform[cb] was founded in 2002 and is headquartered in Sarasota, Florida.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-02-01 Vistar Media

New York, New York, United States

Vistar Media is a provider of advertising technology services to the digital out-of-home industry. Vistar Media was founded in 2011 and is based in New York City.

Buy -

Seller(S) 1

SELLER

Wingate Partners

Dallas, Texas, United States

Investor Investor Investor


Category Private Equity Firm
Founded 1987
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Wingate Partners is a turnaround investment firm that purchases controlling stakes in troubled manufacturing, distribution and service businesses headquartered in the US. Wingate looks to acquire under-performing companies, profitable businesses in changing or out of favor industries, and companies with incomplete management teams. Target businesses typically have revenues between $50 and $250 million. Wingate will not invest in banking, insurance, real estate, media, natural resources, and high technology. Wingate Partners was formed in 1987 and is based in Dallas, Texas.


DEAL STATS #
Overall 15 of 22
Sector (Forest Products) 1 of 1
Type (Secondary Buyout) 7 of 10
State (Georgia) 1 of 1
Country (United States) 15 of 22
Year (2016) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-08-04 Stein World

Memphis, Tennessee, United States

Stein World LLC is a designer, importer, and distributor of decorative home accents including accent furniture, lamps, occasional tables, accent chairs, and mirrors. Stein World was formed in 2004 and is based in Memphis, Tennessee.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-01-01 Cal Pacific Specialty Foods

Santa Maria, California, United States

Cal Pacific Specialty Foods is an industrial processor of strawberries in North America. Cal Pacific specializes in frozen fruits, concentrates and purees for the foodservice and industrial markets. Clients include many of the largest consumer packaged food companies and restaurant chains. Lake Pacific partnered with management and other investors to recapitalize Cal Pacific. Cal Pacific Specialty Foods is based in Santa Maria, California.

Sell -