M&A Deal Summary

HarbourVest Partners, Bertram Capital and EverArc Holdings Acquire Perimeter Solutions

On June 16, 2021, private equity firm HarbourVest Partners, private equity firm Bertram Capital and EverArc Holdings acquired chemicals company Perimeter Solutions from SK Capital Partners for 2.0B USD

Acquisition Highlights
  • This is HarbourVest Partners’ 6th, Bertram Capital’s 1st and EverArc Holdings’ 1st transaction in the Chemicals sector.
  • This is HarbourVest Partners’ 28th, Bertram Capital’s and EverArc Holdings’ largest (disclosed) transaction.
  • This is HarbourVest Partners’ 127th, Bertram Capital’s 32nd and EverArc Holdings’ 1st transaction in the United States.
  • This is HarbourVest Partners’ 1st, Bertram Capital’s 1st and EverArc Holdings’ 1st transaction in Missouri.

M&A Deal Summary

Date 2021-06-16
Target Perimeter Solutions
Sector Chemicals
Buyer(s) HarbourVest Partners
Bertram Capital
EverArc Holdings
Sellers(s) SK Capital Partners
Deal Type Add-on Acquisition
Deal Value 2.0B USD

Target

Perimeter Solutions

Clayton, Missouri, United States
Perimeter Solutions is a manufacturer of firefighting chemicals and lubricant additives. The Fire Safety business includes formulation and manufacturing of fire management products along with services and pre-treatment solutions for managing wildland, military, industrial and municipal fires. Perimeter Solutions was established in 2018 and is based in Clayton, Missouri.

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Buyer(S) 3

Buyer

HarbourVest Partners

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1978
PE ASSETS 86.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

HarbourVest Partners, LLC is an investment firm that makes investments in new private equity partnerships, acquires secondary interests, and makes direct investments in operating companies. HarbourVest's largest investment area is investments in private equity funds, comprising of approximately 2/3 of HarbourVest's assets. HarbourVest's direct investment group looks for investments in growth oriented businesses at a variety of stages. The Group generally targets co-investments of $5 to $100 million, growth capital financings of $5 to $40 million, or mezzanine commitments of $5 to $20 million. Sectors of interest include software, hardware, data communications, telecommunications, and financial services. HarbourVest was formed in 1997 to assume the business of Hancock Venture Partners which was formed in 1982. HarbourVest Partners is based in Boston, Massachusetts, with additional offices in London, Tokyo, and Hong Kong.


DEAL STATS #
Overall 215 of 223
Sector (Chemicals) 6 of 6
Type (Add-on Acquisition) 6 of 10
State (Missouri) 1 of 1
Country (United States) 127 of 134
Year (2021) 5 of 13
Size (of disclosed) 28 of 68
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-06-16 Nets

Ballerup, Denmark

Nets is a payments processing utility for the Nordics region. Nets connects banks, businesses, public sector organizations, merchants and consumers through an international network facilitating digital payments. Nets was founded in 1968 and is based in Ballerup, Denmark.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-07-08 Neighborly

Waco, Texas, United States

Neighborly is a home services franchisor of 25 service brands (including Neighborly umbrella service brand) and more than 4,000 franchise owners serving 10 million+ customers in nine countries, focused on repairing, maintaining and enhancing homes and businesses. Neighborly was founded in 1981 and is based in Waco, Texas.

Buy -
Buyer

Bertram Capital

Foster City, California, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2006
PE ASSETS 3.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Bertram Capital is a private equity firm that targets buyout and growth equity investments in lower middle-market companies. Bertram looks for companies with revenues of $20 to $250 million and EBITDA of $5 to $35 million. Sectors of interest include healthcare services and infrastructure, industrial manufacturing, business and financial services, technology, and internet. Bertram will consider both control and non-control investments. Prospective transaction structures include management buyouts, shareholder liquidity events, acquisitions financing's, growth financing's, and PIPE. Bertram Capital was formed in 2006 and is based in Foster City, California.


DEAL STATS #
Overall 35 of 45
Sector (Chemicals) 1 of 1
Type (Add-on Acquisition) 1 of 1
State (Missouri) 1 of 1
Country (United States) 32 of 42
Year (2021) 5 of 6
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-06-14 Paula s Choice

Kent, Washington, United States

Paula's Choice is one of the largest digitally-native beauty brands in the world. Paula Begoun, Paula’s Choice has grown into a leading global skincare brand with a diversified geographic reach, a methodically curated product offering, and a loyal customer base that is supported by a global direct-to-consumer (“DTC”) model. Paula's Choice was founded in 1984 and is based in Kent, Washington.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-08-26 Registrar

Hampton, Virginia, United States

Registrar is a SaaS-assisted provider of U.S. FDA compliance services to domestic and foreign food, medical devices, drugs, and cosmetic facilities. Registrar has expanded to eighteen international offices and has aided more than 30,000 companies across 160 countries. Registrar was founded in 2003 and is based in Hampton, Virginia.

Sell -
Buyer

EverArc Holdings

British Virgin Islands, United Kingdom

Category Company
Founded 2019
Sector Business Services
DESCRIPTION

EverArc Holdings is a publicly-listed acquisition company that was formed to undertake an acquisition of a target company or business. EverArc Holdings was founded in 2019 and is based in British Virgin Islands, United Kingdom.


DEAL STATS #
Overall 1 of 1
Sector (Chemicals) 1 of 1
Type (Add-on Acquisition) 1 of 1
State (Missouri) 1 of 1
Country (United States) 1 of 1
Year (2021) 1 of 1
Size (of disclosed) 1 of 1

Seller(S) 1

SELLER

SK Capital Partners

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2007
PE ASSETS 4.9B USD
Size Large
Type Sector Agnostic
DESCRIPTION

SK Capital Partners is a private investor in mature and middle-market companies located throughout North America. SK Capital focuses on companies with opportunities for substantial business improvement and strong growth prospects. The Firm looks to invest $100 to $200 million of equity in transactions valued up to $500 million. Prospective businesses typically generate $50 to $500 million in revenues and at least $100 million in EBITDA. Areas of interest include specialty materials, chemicals and healthcare. The Firm will consider a variety of transaction situations, including buyouts, recapitalizations, growth equity financings, and corporate carve-outs. SK Capital Partners was spun out of Arsenal Capital Partners and became independent in 2007. SK Capital Partners is based in New York City.


DEAL STATS #
Overall 6 of 14
Sector (Chemicals) 3 of 9
Type (Add-on Acquisition) 3 of 7
State (Missouri) 1 of 1
Country (United States) 5 of 9
Year (2021) 1 of 4
Size (of disclosed) 1 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-06-14 Clariant Pigments

Muttenz, Switzerland

Clariant Pigments is a global provider of organic pigments, pigment preparations, and dyes, operating 13 global production sites.

Buy Fr.805M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-06-21 Niacet

Niagara Falls, New York, United States

Niacet is a producer of specialty ingredients for food, feed, and pharmaceutical applications and the global leader in propionates and acetates. The Company’s propionates function as preservatives in baked goods and animal feed, while its acetates serve a wide variety of food and pharmaceutical applications. Niacet was established in 1978 and is based in Niagara Falls, New York.

Sell $1.0B