Investment Summary

Austin Capital Partners Exits OmegaSea

On March 12, 2020, Spectrum Brands invested in consumer products company OmegaSea from Austin Capital Partners

Investment Highlights
  • This is Spectrum Brands’ 9th transaction in the Consumer Products sector.
  • This is Spectrum Brands’ 14th transaction in the United States.
  • This is Spectrum Brands’ 3rd transaction in Ohio.

Investment Summary

Date 2020-03-12
Target OmegaSea
Sector Consumer Products
Investor(s) Spectrum Brands
Sellers(s) Austin Capital Partners
Deal Type Add-on Acquisition

Target

OmegaSea

Painesville, Ohio, United States
OmegaSea LLC is a manufacturer and distributor of premium food and related products for the aquarium hobbyist. Fish food is marketed worldwide under the Omega One brand. OmegaSea was founded in 1998 and is based in Painesville, Ohio.

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Investor(S) 1

Investor

Spectrum Brands

Middleton, Wisconsin, United States

Category Company
Founded 1906
Sector Consumer Products
Employees3,100
Revenue 3.0B USD (2024)
DESCRIPTION

Spectrum Brands is a diversified consumer products company and a supplier of consumer batteries, residential locksets, residential builders’ hardware and faucets, shaving and grooming products, personal care products, small household appliances, specialty pet supplies, lawn and garden, and home pest control products, and personal insect repellents. Spectrum Brands was founded in 1906 and is based in Middleton, Wisconsin.


DEAL STATS #
Overall 18 of 21
Sector: Consumer Products M&A 9 of 11
Type: Add-on Acquisition M&A Deals 11 of 13
State: Ohio M&A 3 of 3
Country: United States M&A 14 of 16
Year: 2020 M&A 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-04-22 Foundation Wellness

Wadsworth, Ohio, United States

Foundation Wellness is a specialty designer and manufacturer of branded and private label orthotic solutions, including footbeds/insoles, foot care products, orthopedic braces, sports support, and ergonomic safety products. Foundation Wellness was founded in 1934 and is based in Wadsworth, Ohio.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-10-26 Armitage Pet Care

Nottinghamshire, United Kingdom

Armitage Pet Care Ltd. is an independent manufacturer and supplier of premium branded pet treats and accessories in the UK. Armitage supplies over 2,000 products across the dog, cat, small domestic pets, bird, and fish categories to a broad customer base including the major supermarkets and specialists retailers. Armitage Pet Care was established in 1775 and is based in Nottinghamshire, United Kingdom.

Buy $180M

Seller(S) 1

SELLER

Austin Capital Partners

Pepper Pike, Ohio, United States

Category Private Equity Firm
Founded 2002
Size Small
Type Sector Agnostic
DESCRIPTION

Austin Capital Partners is a private equity firm that seeks investments in the Ohio and Lower Great Lakes regions of the US. Austin generally pursues privately-owned, profitable, and growing businesses with $8 to $30 million in revenue. Prospective investment situations include consolidations, growth capital financings, corporate divestitures, and under-performing businesses seeking to restructure. Sectors of interest include manufacturing, specialty chemicals, wholesale distribution, and services. Austin will not invest in real estate, oil/gas, high technology, regulated industries, as well as start-ups and businesses that lack growth potential. Austin Capital was formed in 2002 and is based in Cleveland, Ohio.


DEAL STATS #
Overall 6 of 6
Sector: Consumer Products M&A 2 of 2
Type: Add-on Acquisition M&A Deals 4 of 4
State: Ohio M&A 5 of 5
Country: United States M&A 6 of 6
Year: 2020 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-03-01 Cortina Leathers

New York, New York, United States

Cortina Leathers is a manufacturer of quality leather to the contract, residential, healthcare, hospitality, automotive aftermarket, aircraft, marine, and bookbinding industries. Cortina Leathers was founded in 1903 and is based in New York, New York.

Sell -