M&A Deal Summary

Balfour Acquires Iconic Group

On May 7, 2019, Balfour acquired consumer services company Iconic Group from Fenway Partners

Acquisition Highlights
  • This is Balfour’s 1st transaction in the Consumer Services sector.
  • This is Balfour’s 3rd transaction in the United States.
  • This is Balfour’s 1st transaction in Georgia.

M&A Deal Summary
Date 2019-05-07
Target Iconic Group
Sector Consumer Services
Buyer(s) Balfour
Sellers(s) Fenway Partners
Deal Type Merger

Target

Iconic Group

Atlanta, Georgia, United States
Iconic Group is a provider of professional event photography services to educational institutions and endurance race organizers. Iconic Group's divisions include Bob Knight Photo, Chappell Graduation Images, and MarathonFoto. Iconic Group provides professional photography services at 10,000 events and 30,000 shoot dates, taking 53 million consumer images per year under the GradImages, University Photo, WorldWide Photography, and MarathonFoto brands. Iconic Group is based in Atlanta, Georgia.

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Buyer(S) 1

Buyer

Balfour

Dallas, Texas, United States
Category Company
Sector Consumer Products
DESCRIPTION

Balfour is a manufacturer of customized products including jewelry, class rings, championship rings, and graduation announcements for high schools and universities across the country.

DEAL STATS #
Overall 4 of 4
Sector (Consumer Services) 1 of 1
Type (Merger) 1 of 1
State (Georgia) 1 of 1
Country (United States) 3 of 3
Year (2019) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-10-15 Gaspard & Sons

Winnipeg, Manitoba, Canada

Gaspard & Sons Ltd. is a manufacturer and distributor of academic regalia, clergy vestments, choral robes, and legal and judicial attire. The Company’s products are primarily sold direct-to-user in Canada, while the U.S. market is served via a combination of company and independent representatives.

Buy -

Seller(S) 1

SELLER

Fenway Partners

Westerly, Rhode Island, United States

Investor Investor Investor

Category Private Equity Firm
Founded 1994
PE ASSETS 2.1B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Fenway Partners is a private equity firm focused on investments in the consumer products and transportation/logistics/distribution sectors. Fenway looks for profitable companies with positive cash-flow and 'strong franchises. Prospective companies are generally valued between $100 and $600 million with $15 to $75 million of EBITDA. The Firm's investment horizon is four to six years. Fenway Partners was formed in 1994 and maintains offices in New York City and Los Angeles.

DEAL STATS #
Overall 15 of 15
Sector (Consumer Services) 1 of 1
Type (Merger) 1 of 1
State (Georgia) 2 of 2
Country (United States) 14 of 14
Year (2019) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-02-25 Preferred Freezer Services

Chatham, New Jersey, United States

Preferred Freezer Services is an operator of state-of-the-art, full-service refrigerated warehouses providing storage primarily for specialty frozen seafood. The company operates twelve facilities in five metropolitan areas and ranks as the 7th largest refrigerated warehouse company in North America. The company has over 1,900 clients, consisting of seafood importers and distributors and frozen food manufacturers and distributors.

Sell -
Mergr

Product

Company

Legal