M&A Deal Summary

Blue Point Capital Partners, The Riverside Company and Cohesive Capital Partners Acquire siffron

On September 13, 2022, private equity firms Blue Point Capital Partners, The Riverside Company and Cohesive Capital Partners acquired business services company siffron from Olympus Partners

Acquisition Highlights
  • This is Blue Point Capital Partners’ 6th, The Riverside Company’s 21st and Cohesive Capital Partners’ 2nd transaction in the Business Services sector.
  • This is Blue Point Capital Partners’ 45th, The Riverside Company’s 191st and Cohesive Capital Partners’ 28th transaction in the United States.
  • This is Blue Point Capital Partners’ 12th, The Riverside Company’s 16th and Cohesive Capital Partners’ 1st transaction in Ohio.

M&A Deal Summary
Date 2022-09-13
Target siffron
Sector Business Services
Buyer(s) Blue Point Capital Partners
The Riverside Company
Cohesive Capital Partners
Sellers(s) Olympus Partners
Deal Type Secondary Buyout

Target

siffron

Twinsburg, Ohio, United States
siffron is a provider of point-of-purchase merchandising and display solutions for retail applications. The Company sells the industry's broadest range of merchandising systems and accessories including shelf management systems, shelf-edge label holders, sign holders, hang tabs, hooks, fasteners, banner hangers, literature holders, and acrylic displays. siffron was founded in 1962 and is based in Twinsburg, Ohio.

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Buyer(S) 3

Buyer

Blue Point Capital Partners

Cleveland, Ohio, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1990
PE ASSETS 1.9B USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Blue Point Capital Partners is a middle-market private equity firm focused on investments throughout the US, Canada, and Europe. The Firm looks to commit $10 to $50 million of equity capital in companies generating sales of $30 to $300 million and EBITDA of at least $7 million. Blue Point looks for control investments that arise from management led buyouts, recapitalizaitons, and companies in need of growth capital. Sectors of interest include transportation components, metals processing, plastics, packaging, specialty distribution, environmental, building materials, industrial textiles, transportation/logistics, chemicals, industrial outsourcing, and engineered components. Blue Point will not invest in real estate, restaurants, retail, or companies operating in highly regulated industries. Blue Point Capital Partners was formed in 1990 and has offices in Cleveland, Ohio; Charlotte, North Carolina; and Seattle, Washington.

DEAL STATS #
Overall 49 of 53
Sector (Business Services) 6 of 7
Type (Secondary Buyout) 11 of 11
State (Ohio) 12 of 13
Country (United States) 45 of 49
Year (2022) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-08-31 Water Lilies

Bay Shore, New York, United States

Water Lilies is a manufacturer and distributor of frozen Asian-inspired cuisine primarily sold through supermarkets, club/mass stores, restaurants and ethnic markets. The Company’s signature products include egg rolls, spring rolls, potstickers, dumplings, bao buns and a variety of noodles in both plant-based and meat options, as well as better-for-you categories (natural, organic, gluten-free). Water Lilies was founded in 1995 and is based in Bay Shore, New York.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-04-05 Europa Eyewear

Vernon Hills, Illinois, United States

Europa Eyewear is an independent designer and manufacturer of eyewear frames in the United States. It offers a diverse portfolio of 11 independent eyewear brands, including STATE and American Optical Eyewear. Europa Eyewear was founded in 1977 and is based in Vernon Hills, Illinois.

Buy -
Buyer

The Riverside Company

New York, New York, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1988
PE ASSETS 5.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

The Riverside Company is a global private equity firm that seeks investments in profitable lower middle-market companies valued under $400 million. Riverside looks to invest in growth businesses headquartered in North America, Europe, and Asia (primarily Japan and South Korea), that have been in operation for at least five years. Riverside targets investments in a wide array of industries including distribution, automotive, healthcare, education, manufacturing, software, consumer services, plastics, publishing, food, communications, marine, and business services. Riverside was formed in 1988 and is based in New York City.

DEAL STATS #
Overall 276 of 284
Sector (Business Services) 21 of 23
Type (Secondary Buyout) 44 of 47
State (Ohio) 16 of 18
Country (United States) 191 of 196
Year (2022) 6 of 9
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-08-11 Parker Food Group

Fort Worth, Texas, United States

Parker Food Group is a manufacturer of custom specialty ingredients used by a wide array of well-known food & beverage companies. Parker’s product offerings include toppings, inclusions, grinds, flavor bases, icings, swirls, and other innovative items. It has built a strong and loyal following thanks to its proven R&D team, flexibility, and capabilities to quickly deliver unique offerings using clean-label, natural, and organic ingredients. Parker Food Group was formed in 1926 and is based in Fort Worth, Texas.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-09-26 Xcentric

Clinton Township, Michigan, United States

Xcentric provides technology-enabled, quick-turn injection molding, rapid prototyping, and CNC machining services for clients across numerous industries including medical devices, aerospace, automotive, consumer products, and electronics. Xcentric was founded in 1996 and is based in Clinton Township, Michigan.

Sell -
Buyer

Cohesive Capital Partners

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2010
PE ASSETS 385M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Cohesive Capital Partners is private equity co-investment firm. The Firm looks to invest and work alongside deal sponsors in small to mid-sized companies and will consider businesses operating in any sector. Prospective deal situations include buyouts, growth equity financings, and other opportunistic situations. Cohesive Capital Partners was formed in 2010 and is based in New York City.

DEAL STATS #
Overall 30 of 32
Sector (Business Services) 2 of 2
Type (Secondary Buyout) 6 of 6
State (Ohio) 1 of 1
Country (United States) 28 of 30
Year (2022) 2 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-01-01 Wonders Technologies

New York, New York, United States

Wonders Technologies provides independent restaurants with software and tech-enabled services that enable order taking, payment processing, and digital marketing. Wonders Technologies was founded in 2012 and is based in New York City.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-12-06 Gulf Pacific

Houston, Texas, United States

Gulf Pacific is a value-added packager and processor of high-quality specialty foods and ingredients, including healthy and organic rice varieties, rice flour ingredients, ancient grains, dry edible beans and spice blends. Gulf Pacific was founded in 1988 and is based in Houston, Texas.

Buy -

Seller(S) 1

SELLER

Olympus Partners

Stamford, Connecticut, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1988
PE ASSETS 8.4B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Olympus Partners is a private equity group focused on investing in growth companies with strong management, and positions in their respective markets. The Firm will consider both venture capital and private equity investments and looks to commit $50 to $300 million per transaction. The Firm focuses its investment activities within the business services, healthcare, financial services, consumer, restaurant, software/IT services, and logistics/transportation industries. Olympus Partners was formed in 1988 and is based in Stamford Connecticut.

DEAL STATS #
Overall 45 of 50
Sector (Business Services) 9 of 10
Type (Secondary Buyout) 11 of 14
State (Ohio) 2 of 2
Country (United States) 42 of 47
Year (2022) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-04-29 Excel Fitness Holdings

Austin, Texas, United States

Excel Fitness Holdings operates 150+ Planet Fitness clubs in Austin, Dallas/Ft Worth, Tulsa, Northwest Arkansas, North Carolina, and Virginia. Its mission is to build a team culture and atmosphere constructed on trust, humility, and strong relationships, always leading by example and putting others first with the utmost integrity, dedication and accountability. Excel Fitness Holdings is based in Austin, Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-09-30 EyeSouth Partners

Atlanta, Georgia, United States

EyeSouth Partners is an eye care physician services organization committed to partnering with leading physicians to build a premier network of eye care services in Georgia and the Southeast. EyeSouth’s partner practices’ clinical mission is to provide high-quality medical and surgical specialty eye care. The organization supports its affiliated practices and physician partners with capital, administrative resources, operating expertise, and strategic guidance with an absolute focus on clinical quality and a patient-first culture. EyeSouth Partners was founded in 2017 and is based in Atlanta, Georgia.

Buy -
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