M&A Deal Summary

BASE Equity Partners and Midwest Mezzanine Funds Acquire Jolyn Clothing Company

On January 1, 2016, private equity firm BASE Equity Partners and mezzanine finance firm Midwest Mezzanine Funds acquired apparel/textiles company Jolyn Clothing Company

Acquisition Highlights
  • This is BASE Equity Partners’ 1st and Midwest Mezzanine Funds’ 2nd transaction in the Apparel/Textiles sector.
  • This is BASE Equity Partners’ 3rd and Midwest Mezzanine Funds’ 53rd transaction in the United States.
  • This is BASE Equity Partners’ 1st and Midwest Mezzanine Funds’ 7th transaction in California.

M&A Deal Summary
Date 2016-01-01
Target Jolyn Clothing Company
Sector Apparel/Textiles
Buyer(s) BASE Equity Partners
Midwest Mezzanine Funds
Deal Type Buyout (LBO, MBO, MBI)

Target

Jolyn Clothing Company

Huntington Beach, California, United States
Jolyn Clothing Company is a designer and e-retailer of women’s performance training swimwear, accessories, and Dryland activewear apparel, based in Huntington Beach, CA. The Company sells its products direct-to-consumer through its website as well as a network of brand ambassadors who are themselves highly decorated athletes, including Olympic medalists and NCAA champions in swimming, water polo, beach volleyball and other aquatic sports.

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Buyer(S) 2

Buyer

BASE Equity Partners

Investor Investor

Category Private Equity Firm
Founded 2013
Size Small
Type Sector Agnostic
DESCRIPTION

BASE Equity Partners is a private investment group focused on profitable, lower middle-market company acquisitions. The Firm looks to partner with management and will consider a variety of transaction situations including divestitures, take privates, founder owned businesses seeking growth capita/liquidity, and special situations. Sectors of interest include distribution, consumer, retail, media, business services, technology, information services, and healthcare. BASE Equity Partners was formed in 2013 and is headquartered in New York City.

DEAL STATS #
Overall 3 of 4
Sector (Apparel/Textiles) 1 of 1
Type (Buyout (LBO, MBO, MBI)) 2 of 3
State (California) 1 of 1
Country (United States) 3 of 4
Year (2016) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-01-01 New York Packaging

Garden City Park, New York, United States

New York Packaging Corp. is involved in custom printing and manufacturing of plastic and laminated coated bags.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-07-30 MOVE Bumpers

Lewistown, Montana, United States

MOVE Bumpers is a provider of aftermarket steel truck bumpers. Move has grown rapidly, ranking on the Inc. 500 list of fastest-growing companies for the last two years. Move products are American-made, affordably priced, and designed to endure.

Buy -
Buyer

Midwest Mezzanine Funds

Chicago, Illinois, United States

Investor Investor Investor Investor Investor

Category Mezzanine Finance Firm
Founded 1992
PE ASSETS 1.0B USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Midwest Mezzanine Funds (MMF) is a provider of junior capital to lower middle-market, US and Canadian companies. MMF looks to invest $4 to $15 million to support buyouts, acquisition financings, recapitalizations, and growth capital needs. Prospective companies generally have consistent profits ($3 million of EBITDA), low capital intensity, and sustainable competitive advantages. Broad areas of interest include manufacturing, value-added distribution, and services. MMF will not invest in high technology, energy, or real estate. Midwest Mezzanine was formed in 1992 and has offices in Chicago and Monroe, Michigan.

DEAL STATS #
Overall 53 of 81
Sector (Apparel/Textiles) 2 of 2
Type (Buyout (LBO, MBO, MBI)) 26 of 32
State (California) 7 of 9
Country (United States) 53 of 81
Year (2016) 2 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-01-01 RP Lighting + Fans

Albuquerque, New Mexico, United States

RP Lighting + Fans is a distributor of ceiling fans, electrical wiring devices, and lighting fixtures used predominantly in multi-family housing complexes and other related end markets. Royal Pacific was founded in 1990 and is based in Albuquerque, New Mexico.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-06-01 Hercules Chassis

Hillsborough, New Jersey, United States

Hercules Chassis is a manufacturer of chassis and specialty trailers used to carry intermodal shipping containers to and from ports, rail terminals, origin, and final destination. Hercules Chassis was founded in 1958 and is based in Hillsborough, New Jersey.

Buy -
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