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M&A Deal Summary

Benford Capital Partners Acquires Legacy

On April 10, 2023, private equity firm Benford Capital Partners acquired food company Legacy

Acquisition Highlights
  • This is Benford Capital Partners’ 4th transaction in the Food sector.
  • This is Benford Capital Partners’ 19th transaction in the United States.
  • This is Benford Capital Partners’ 6th transaction in Wisconsin.

M&A Deal Summary
Date 2023-04-10
Target Legacy
Sector Food
Buyer(s) Benford Capital Partners
Deal Type Buyout (LBO, MBO, MBI)
Advisor(s) TKO Miller LLC (Financial)

Target

Legacy

Waukesha, Wisconsin, United States
Legacy is a designer and manufacturer of superior and innovative baked snack products including snack mixes, bagel chips, pita chips, rye chips, and bread sticks, among others. The Company is focused on creating one-of-a-kind B2B and private-label baked snack products for leading food brands, retailers, and food service companies. Legacy offers multiple highly efficient manufacturing services including contract manufacturing, seasoning, and packaging. In addition to B2B and private label operations, it is the manufacturer and brand owner of Pinahs Rye Chips and Pinahs Snack Mixes. Legacy is based in Waukesha, Wisconsin.

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Buyer(S) 1

Buyer

Benford Capital Partners

Chicago, Illinois, United States

Investor Investor Investor

Category Private Equity Firm
Founded 2004
Size Small
Type Sector Agnostic
DESCRIPTION

Benford Capital Partners is a private equity investment firm focused on leveraged buyouts and recapitalizations of smaller, lower middle-market companies in the US and Canada. Benford targets niche manufacturers, unique service companies and specialty distributors with minimum sales of $5 million, and at least $2 million in EBITDA. Avoided industries/transactions include retail, restaurants, software, start-ups, real estate, commodity products, and biotech. Benford Capital Partners was formed in 2004 and is based in Chicago, Illinois.

DEAL STATS #
Overall 20 of 24
Sector (Food) 4 of 6
Type (Buyout (LBO, MBO, MBI)) 8 of 10
State (Wisconsin) 6 of 6
Country (United States) 19 of 23
Year (2023) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-04-03 NucFil

Golden, Colorado, United States

NucFil is a manufacturer of highly engineered, proprietary storage and safety products, used primarily by Department of Energy (“DOE”) laboratories, for safe handling, transportation, storage, and analysis of nuclear material and waste. The Company’s specialized products are used in a wide range of applications including plutonium research & development, storage, transuranic waste transportation and disposal, and remediation. In addition, NucFil provides related services (gas analysis, characterization, certification, testing, and repair) on a recurring basis to numerous DOE entities. NucFil was founded in 1985 and headquartered in Golden, Colorado.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-08-01 BSC Industries

Canton, Massachusetts, United States

BSC Industries is a value-added distributor and engineered solutions provider of bearings, power transmission components, motion control products, and electrical and automation products sold to OEM and MRO customers across diverse end markets. BSC Industries was formed in 1919 and is headquartered in Canton, Massachusetts.

Buy -
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