M&A Deal Summary

Arbor Investments Acquires Steelite

On December 20, 2019, private equity firm Arbor Investments acquired consumer products company Steelite from PNC Riverarch Capital

Acquisition Highlights
  • This is Arbor Investments’ 2nd transaction in the Consumer Products sector.
  • This is Arbor Investments’ 1st transaction in the United Kingdom.

M&A Deal Summary

Date 2019-12-20
Target Steelite
Sector Consumer Products
Buyer(s) Arbor Investments
Sellers(s) PNC Riverarch Capital
Deal Type Secondary Buyout

Target

Steelite

Staffordshire, United Kingdom
Steelite is a manufacturer, designer, distributor, and supplier of award-winning tabletop and buffet products for the hospitality and foodservice industries. Steelite was founded in 1983 and is based in Staffordshire, United Kingdom.

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Buyer(S) 1

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 28 of 34
Sector (Consumer Products) 2 of 3
Type (Secondary Buyout) 5 of 8
Country (United Kingdom) 1 of 1
Year (2019) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-10-01 Crown Bakeries

Brentwood, Tennessee, United States

Crown Bakeries manufactures a diverse line of fresh and frozen bread, baked goods, and dough products for leading food service, food manufacturing, and retail customers. Crown Bakeries was formed in 1996 and is headquartered in Brentwood, Tennessee.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-08-25 TrojanLitho

Renton, Washington, United States

TrojanLitho is a specialized designer and manufacturer of high-end folding cartons and single-face laminate packaging for blue-chip and emerging brands in the food, beverage, and consumer industries. TrojanLitho was founded in 1950 and is based in Renton, Washington.

Sell -

Seller(S) 1

SELLER

PNC Riverarch Capital

Pittsburgh, Pennsylvania, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2011
PE ASSETS 250M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

PNC Riverarch Capital is a middle-market private equity group that invests in privately-held companies headquartered throughout North America. The Group looks to commit $10 to $50 million to help fund recapitalizations, leveraged and management buyouts, corporate divestitures and growth financings. Target sectors include business and industrial services, specialized manufacturing, and value-added distribution. PNC Riverarch was formed in 2011 and is an affiliate of PNC Financial Services Group.


DEAL STATS #
Overall 11 of 18
Sector (Consumer Products) 1 of 2
Type (Secondary Buyout) 8 of 12
Country (United Kingdom) 1 of 2
Year (2019) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-11-25 Electrical Source Holdings

Burbank, California, United States

Electrical Source is the specialty distributor of need-it-now critical power components including circuit breakers, fuses, motor controls, disconnects, and more for diverse commercial and industrial applications. The company offers the industry’s broadest and deepest inventory covering all major OEM brands and spanning numerous product generations, complemented by superior product support from an experienced and technical sales team. Electrical Source Holdings is based in Burbank, California.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-01-17 Empire Equipment

Raleigh, North Carolina, United States

Empire Equipment is a wholesale distributor of commercial foodservice equipment and genuine OEM parts into diverse markets, including food service equipment dealers, service organizations, buying groups, and national chain accounts. Empire Equipment was founded in 1985 and is based in Raleigh, North Carolina.

Buy -