M&A Deal Summary

ASGARD Partners and Merit Capital Partners Acquire Revision Military

On October 2, 2019, private equity firm ASGARD Partners and mezzanine finance firm Merit Capital Partners acquired consumer products company Revision Military

Acquisition Highlights
  • This is ASGARD Partners’ 1st and Merit Capital Partners’ 3rd transaction in the Consumer Products sector.
  • This is ASGARD Partners’ 2nd and Merit Capital Partners’ 90th transaction in the United States.
  • This is ASGARD Partners’ 1st and Merit Capital Partners’ 1st transaction in Vermont.

M&A Deal Summary
Date 2019-10-02
Target Revision Military
Sector Consumer Products
Buyer(s) ASGARD Partners
Merit Capital Partners
Deal Type Buyout (LBO, MBO, MBI)

Target

Revision Military

Essex Junction, Vermont, United States
Revision Military develops and delivers purpose-built eye protection for military and tactical users worldwide. Revision Military was founded in 2001 and is based in Essex Junction, Vermont.

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Buyer(S) 2

Buyer

ASGARD Partners

Category Private Equity Firm
Founded 2017
Size Small
Type Sector Agnostic
DESCRIPTION

ASGARD Partners & Co. is a private investment firm that looks to partner with management in pursuing investments in profitable companies where it can leverage its operational expertise. Target companies generally possess stable cash flows, offer differentiated products/services, and have multiple avenues for growth. Sectors of interests include business services, defense, government services, healthcare, distribution, and logistics. ASGARD Partners was established in 2017 and is headquartered in New York City.

DEAL STATS #
Overall 2 of 3
Sector (Consumer Products) 1 of 1
Type (Buyout (LBO, MBO, MBI)) 1 of 2
State (Vermont) 1 of 1
Country (United States) 2 of 3
Year (2019) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-03-05 Wild Things

Virginia Beach, Virginia, United States

Wild Things is a designer and manufacturer of high-end technical outerwear and gear for extreme outdoor conditions, primarily serving the military and law enforcement communities both domestically and internationally. Wild Things was founded in 1981 and is based in Newport, Rhode Island.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-08-21 Wild Things

Virginia Beach, Virginia, United States

Wild Things is a designer and manufacturer of high-end technical outerwear and gear for extreme outdoor conditions, primarily serving the military and law enforcement communities both domestically and internationally. Wild Things was founded in 1981 and is based in Newport, Rhode Island.

Sell -
Buyer

Merit Capital Partners

Chicago, Illinois, United States

Investor Investor Investor Investor Investor

Category Mezzanine Finance Firm
Founded 1993
PE ASSETS 2.2B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Merit Capital Partners is a private investment firm that targets investments in middle market manufacturing, distribution, and service based businesses. Merit looks for companies generating at least $25 million in sales and at least $4 million in EBITDA. Merit can provide both equity and junior capital financing and looks to commit at least $15 million per transaction. Prospective transaction situations include management buyouts, recapitalizations, growth financings, divestitures, unsponsored transactions, and ESOPs. Merit Capital will not invest in start-ups, turnarounds, real estate, specialty retail, or oil/gas opportunities. Merit Capital was originally known as William Blair Mezzanine Capital and became independent in 2004. Merit was formed in 1993 and is based in Chicago, Illinois.

DEAL STATS #
Overall 91 of 98
Sector (Consumer Products) 3 of 3
Type (Buyout (LBO, MBO, MBI)) 57 of 62
State (Vermont) 1 of 1
Country (United States) 90 of 97
Year (2019) 6 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-09-05 Icon Identity Solutions

Elk Grove Village, Illinois, United States

Icon Identity Solutions, Inc. is a manufacturer of custom corporate branding and identity solutions encompassing all facets of exterior signage, repair and maintenance and renovation services for blue-chip customers across multiple end markets. Icon’s three manufacturing facilities and extensive network of installation and maintenance technicians allows the company to serve large, nationwide customers in a timely and consistent fashion. Icon’s products and services are provided across three business segments: branding services & products (manufacturing and installation of both exterior and select interior signage), repair & maintenance (preventative maintenance, on-call repair, lighting retrofits and related services for exterior signage and lighting) and remodel & renovation services (in-store renovation/remodel of a customer’s store locations, providing project management and oversight of specialized sub-contractors).

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-01-09 Digney York Associates

Vienna, Virginia, United States

Digney York Associates LLC is a provider of interior renovation services to the luxury hospitality industry. Specializing in guest room renovations, the company offers services that span from pre-construction through the construction phase of renovations. Digney York Associates LLC was established in 1985 and is based in Vienna, Virginia.

Sell -
Mergr

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