M&A Deal Summary

Bain Capital Private Equity and Gridiron Capital Acquire Dealer Tire

On October 23, 2018, private equity firms Bain Capital Private Equity and Gridiron Capital acquired distribution company Dealer Tire from Lindsay Goldberg

Acquisition Highlights
  • This is Bain Capital Private Equity’s 8th and Gridiron Capital’s 1st transaction in the Distribution sector.
  • This is Bain Capital Private Equity’s 97th and Gridiron Capital’s 24th transaction in the United States.
  • This is Bain Capital Private Equity’s 2nd and Gridiron Capital’s 3rd transaction in Ohio.

M&A Deal Summary
Date 2018-10-23
Target Dealer Tire
Sector Distribution
Buyer(s) Bain Capital Private Equity
Gridiron Capital
Sellers(s) Lindsay Goldberg
Deal Type Secondary Buyout
Advisor(s) J.P. Morgan Securities
Moelis & Co. (Financial)
Debevoise & Plimpton (Legal)

Target

Dealer Tire

Cleveland, Ohio, United States
Dealer Tire is a value-added distributor that equips and assists automobile dealers in the sale of replacement tires and other automotive parts to end consumers. It serves more than 10,000 automotive dealerships from nearly 40 distribution centers. Dealer Tire was founded in 1999 and is based in Cleveland, Ohio.

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Buyer(S) 2

Buyer

Bain Capital Private Equity

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1984
PE ASSETS 44.2B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Bain Capital Private Equity (BCPE), is the private equity investment arm of alternative asset management firm, Bain Capital. BCPE targets leveraged buyout and growth capital transactions in a wide variety of industries including information technology, communications, media, healthcare, industrial/manufacturing, retail/consumer, and financial services. Bain Capital is based in Boston with additional offices in New York, London, Mumbai, Hong Kong, Shanghai, Tokyo, and Munich.

DEAL STATS #
Overall 179 of 237
Sector (Distribution) 8 of 11
Type (Secondary Buyout) 41 of 66
State (Ohio) 2 of 3
Country (United States) 97 of 124
Year (2018) 12 of 12
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-10-23 Cerevel

Cambridge, Massachusetts, United States

Cerevel is a biopharmaceutical company focused on developing drug candidates to treat disorders of the central nervous system (CNS). The company has a portfolio of pre-commercial neuroscience assets, which include three clinical-stage compounds and several pre-clinical compounds designed to target a broad range of CNS disorders including Parkinson’s, Alzheimer’s, epilepsy, schizophrenia, and addiction. Cerevel was formed in 2018 and headquartered in Cambridge, Massachusetts.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-01-07 Concardis

Eschborn, Germany

Concardis is a payment service provider that offers intelligent solutions to meet the extensive requirements for a modern cashless payment process the ability to accept payments made with all major credit and debit cards, including card terminals and contactless payment processes for face-to-face retailers, innovative solutions for e-commerce and m-commerce, as well as support in the form of customer management. Concardis was founded in 2003 and is based in Eschborn, Germany.

Sell -
Buyer

Gridiron Capital

New Canaan, Connecticut, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2004
PE ASSETS 764M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Gridiron Capital is a private equity firm focused on acquiring mid-sized North American manufacturing, service and specialty consumer companies. Gridiron looks to commit companies with EBITDA up to $60 million. The Firm prefers controlling interests when considering transactions. Situations of interest include companies operating in sectors undergoing change, closely held companies owned by founding family or management for ownership transition, and corporate divestitures of orphaned or non-strategic business units. Gridiron Capital was formed in 2004 and is based in New Canaan, Connecticut.

DEAL STATS #
Overall 24 of 39
Sector (Distribution) 1 of 3
Type (Secondary Buyout) 7 of 14
State (Ohio) 3 of 6
Country (United States) 24 of 39
Year (2018) 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-07-18 The Service Companies

Miami, Florida, United States

The Service Companies is a provider of managed services, food and beverage staffing, and specialty cleaning services for the hospitality and gaming industries. The Service Companies operates nationally, providing services ranging from turn-key housekeeping and stewarding services to EVS cleaning of public areas, kitchens, windows, and chandeliers to fully trained staffing services.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-11-06 Royal Paper

Phoenix, Arizona, United States

Royal Paper is a vertically integrated private label tissue producer, offering a complete selection of high-quality tissue products including bath tissue, paper towels, napkins, and facial tissue to the retail (At-Home) and commercial (Away-from-Home) markets across the U.S. Royal also has a portfolio of brands to support both channels and they recently relaunched their SuperSoft and EarthFirst brands targeted at value-oriented and sustainably-minded consumers. Royal Paper has a strong track record of driving growth for its customers by consistently delivering high-quality, sustainable tissue products at a leading value to consumers.

Buy -

Seller(S) 1

SELLER

Lindsay Goldberg

New York, New York, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2001
PE ASSETS 17.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Lindsay Goldberg is a large private equity firm that targets investments in traditional, basic industries. Lindsay looks to commit $50 to $250 million per transaction in sectors that include basic & commodity manufacturing, financial services, food, and distribution. Lindsay looks to partner with management in pursuing transactions. Lindsay Goldberg was formerly known as Lindsay Goldberg & Bessemer. The Firm was formed in 2001 and is based in New York City.

DEAL STATS #
Overall 31 of 40
Sector (Distribution) 2 of 2
Type (Secondary Buyout) 13 of 18
State (Ohio) 1 of 1
Country (United States) 25 of 31
Year (2018) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-07-31 Paccor

Dusseldorf, Germany

Paccor is a European manufacturer of high performance rigid packaging solutions with a strong position in the dairy market and a strong presence in other end-markets, including convenience foods, fresh and processed foods, and personal and homecare. Paccor was founded in 2011 and is based in Dusseldorf, Germany.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-10-31 Pixelle Specialty Solutions

Spring Grove, Pennsylvania, United States

Pixelle Specialty Solutions is a provider of specialty papers and engineered materials, offering innovation, world-class service and over a century and a half of technical expertise. Pixelle Specialty Solutions was founded in 2018 and is based in Spring Grove, Pennsylvania.

Buy $360M
Mergr

Product

Company

Legal