Add-on Acquisition • Retail

Boelter Companies Acquires Premier Restaurant Equipment Company

On June 26, 2016, Boelter Companies acquired retailer Premier Restaurant Equipment Company from Hillcrest Capital Partners

Acquisition Context
  • This is Boelter Companies’ 1st transaction in the Retail sector.
  • This is Boelter Companies’ 4th transaction in the United States.
  • This is Boelter Companies’ 1st transaction in Minnesota.

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M&A Deal Summary

Date June 26, 2016
Target Premier Restaurant Equipment Company
Sector Retail
Buyer(s) Boelter Companies
Sellers(s) Hillcrest Capital Partners
Deal Type Add-on Acquisition

Target Company

Premier Restaurant Equipment Company

Minneapolis, Minnesota, United States
Premier Restaurant Equipment Company LLC is a provider of foodservice design services and dealer of heavy commercial kitchen equipment, fixtures, millwork and furniture. Premier provides equipment to venues with food and beverage needs such as restaurants, casinos, senior care and healthcare facilities, airports, hotels, schools, prisons and convention centers.
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Buyer Overview 1

Buyer

Boelter Companies

Waukesha, Wisconsin, United States

Category Company
Founded 1929
Sector Consumer Products
DESCRIPTION

Boelter Companies, Inc. is a food and hospitality equipment business.


Deal Context for Buyer #
Overall 5 of 5
Sector: Retail 1 of 1
Type: Add-on Acquisition 5 of 5
State: Minnesota 1 of 1
Country: United States 4 of 4
Year: 2016 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-05-13 Chrislan Ceramics

Maple Ridge, British Columbia, Canada

Chrislan Ceramics, Inc. is a manufacturer of ceramic tap handles, decorated glassware and insulated growlers for the brewing industry.

Buy -

Seller Profile 1

SELLER

Hillcrest Capital Partners

Minneapolis, Minnesota, United States

Investor Investor


Category Private Equity Firm
Founded 2002
Size Small
Type Sector Agnostic
DESCRIPTION

Hillcrest Capital Partners is a Midwest private equity firm focused on lower middle-market acquisitions in the Midwest US. The Firm targets businesses generating sales of $6 to $20 million and EBITDA of $1 to $3 million. Hillcrest typically looks to acquire controlling interests in family-owned businesses or companies where the founder is looking for liquidity. Hillcrest does not have any sector preferences, as long as the market is stable/growing and non-regulated. Hillcrest does not invest in turnarounds or venture investments. Hillcrest Capital was formed in 2002 and is based in Minneapolis, Minnesota.


Deal Context for Seller #
Overall 3 of 4
Sector: Retail 1 of 1
Type: Add-on Acquisition 2 of 3
State: Minnesota 2 of 3
Country: United States 3 of 4
Year: 2016 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-04-01 Forsythe Appraisals

St. Paul, Minnesota, United States

Forsythe Appraisals LLC is an independently owned residential real estate appraisal company in the country. Forsythe Appraisals’ growth strategy has been to open new appraisal offices across the country, and the Company currently operates over 35 branch offices nationwide, serving 24 states.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-10-01 DP Doors & Millwork

Bozeman, Montana, United States

DP Doors & Millwork offers prepped, pre-cut and pre-finished door and trim packages to builders and homeowners primarily in the Gallatin Valley region of Montana. The Company was founded in 2005 and headquartered in Bozeman, Montana.

Buy -