M&A Deal Summary

B. Riley Financial Acquires Targus

On October 19, 2022, B. Riley Financial acquired consumer products company Targus from The Carlyle Group and Prospect Capital Management for 250M USD

Acquisition Highlights
  • This is B. Riley Financial’s 1st transaction in the Consumer Products sector.
  • This is B. Riley Financial’s largest (disclosed) transaction.
  • This is B. Riley Financial’s 7th transaction in the United States.
  • This is B. Riley Financial’s 2nd transaction in California.

M&A Deal Summary

Date 2022-10-19
Target Targus
Sector Consumer Products
Buyer(s) B. Riley Financial
Sellers(s) The Carlyle Group
Prospect Capital Management
Deal Type Add-on Acquisition
Deal Value 250M USD
Advisor(s) O'Melveny & Myers (Legal)

Target

Targus

Anaheim, California, United States
Targus is a provider of quality and innovative mobile computer accessories, cases, and bags. Targus was formed in 1983 and is based in Anaheim, California.

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Buyer(S) 1

Buyer

B. Riley Financial

Los Angeles, California, United States

Category Company
Founded 1973
Sector Financial Services
Employees2,383
Revenue 1.6B USD (2023)
DESCRIPTION

B. Riley Financial is a provider of financial and business advisory services. B. Riley Financial was incorporated in 1973 and is based in Los Angeles, California.


DEAL STATS #
Overall 7 of 12
Sector (Consumer Products) 1 of 1
Type (Add-on Acquisition) 5 of 9
State (California) 2 of 3
Country (United States) 7 of 11
Year (2022) 1 of 1
Size (of disclosed) 1 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-08-04 272 Capital - Investment Advisory Business

Dallas, Texas, United States

272 Capital's Investment Advisory Business provides a fundamental research approach to long/short investment thesis, specializing in small-cap equity securities.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-02-22 Farber

Toronto, Ontario, Canada

Farber provides corporate restructuring and related advisory services, M&A corporate finance, wealth management, interim management and executive search, human capital advisory, organizational and talent development and related consulting services to corporate clients, entrepreneurs, law firms, lenders, private equity firms, regulators, and investors. Farber was founded in 1979 and is based in Toronto, Ontario.

Buy -

Seller(S) 2

SELLER

The Carlyle Group

Washington, District of Columbia, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1987
PE ASSETS 435.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION
Carlyle's corporate headquarters on Pennsylvania Ave. in Washington, DC.
Carlyle's corporate headquarters on Pennsylvania Ave. in Washington, DC.

The Carlyle Group is a global investment firm that pursues private equity, credit, and real estate investments worldwide. Carlyle's private equity practice practice pursues buyouts, strategic minority equity investments, equity private placements, consolidations and buildups, and growth capital financings. With offices in 19 countries, Carlyle can easily target opportunities throughout North America, Europe, Asia, Australia, the Middle East/North Africa and Latin America. Broad sectors of interest include aerospace, defense, automotive and transportation, consumer, retail, energy and power, financial services, healthcare, industrial, infrastructure, technology services, business services, telecommunications and media. The Carlyle Group was formed in 1987 and is based in Washington DC.


DEAL STATS #
Overall 455 of 482
Sector (Consumer Products) 12 of 13
Type (Add-on Acquisition) 190 of 198
State (California) 34 of 36
Country (United States) 250 of 259
Year (2022) 17 of 22
Size (of disclosed) 88 of 136
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-09-19 McCauley

Dublin, Ireland

McCauley operates 35 stores nationwide on high streets, in shopping centers, retail parks, and medical centers that are focused on Health, Wellness, and Beauty and are renowned for their premium brands, high levels of staff training and excellent customer service. McCauley was founded in 1953 and is based in Dublin, Ireland.

Sell €50M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-10-28 iNova Pharmaceuticals

Singapore, Singapore

iNova Pharmaceuticals is a developer and marketer of over-the-counter and prescription medicines. iNova Pharmaceuticals was founded in 1958 and is based in Singapore.

Sell $1.4B
SELLER

Prospect Capital Management

New York, New York, United States

Investor Investor Investor Investor Investor


Category Business Development Company
Founded 1988
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Prospect Capital Corporation is a publicly traded mezzanine debt and private equity firm that primarily provides non-control financing to support growth, recapitalizations, acquisitions, and development. Prospect will selectively consider control acquisitions by providing multiple levels of the capital structure. Prospect was initially formed in 1988 and went public 2004. The Firm is based in New York City.


DEAL STATS #
Overall 46 of 48
Sector (Consumer Products) 5 of 5
Type (Add-on Acquisition) 17 of 17
State (California) 5 of 5
Country (United States) 45 of 47
Year (2022) 1 of 1
Size (of disclosed) 10 of 13
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-01-03 Magnate Worldwide

Portland, Oregon, United States

Magnate Worldwide is a diversified supply chain management company, comprised of a unique portfolio of complementary, premier logistics providers focused on expedited domestic transportation and global freight forwarding. Magnate Worldwide was founded in 2014 and is based in Portland, Oregon.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-06-04 Progrexion

Salt Lake City, Utah, United States

Progrexion is a marketing and information services business serving the consumer credit information sector. The Company's unique turnkey solution combines lead generation through online and offline direct marketing, teleservice activities that support lead conversion, and proprietary analytical tools that manage customer information and relationships. Progrexion was founded in 2000 and is based in Salt Lake City, Utah.

Sell -