M&A Deal Summary

Boot Barn Acquires Baskins Group

On May 1, 2013, Boot Barn acquired retailer Baskins Group from Banyan Investment Partners, Diamond State Ventures and Consumer Growth Partners

Acquisition Highlights
  • This is Boot Barn’s 1st transaction in the Retail sector.
  • This is Boot Barn’s 1st transaction in the United States.
  • This is Boot Barn’s 1st transaction in California.

M&A Deal Summary

Date 2013-05-01
Target Baskins Group
Sector Retail
Buyer(s) Boot Barn
Sellers(s) Banyan Investment Partners
Diamond State Ventures
Consumer Growth Partners
Deal Type Add-on Acquisition

Target

Baskins Group

Irvine, California, United States
Baskin's is a regional department store retailer with 16 locations offering moderately priced, nationally recognized brand name apparel, boots, shoes, and other accessories such as Wrangler, Justin, Dr. Martin, Red Wing, Carhartt and Polo.

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Buyer(S) 1

Buyer

Boot Barn

Irvine, California, United States

Category Company
Founded 1978
Sector Retail
Employees2,200
Revenue 1.7B USD (2023)
DESCRIPTION

Boot Barn is a specialty retailer of western and work wear. Boot Barn offers western and work boots, jeans, shirts, outer wear, protective work wear, accessories, belts and jewelry. Boot Barn was incorporated in 1978 and is headquartered in Irvine, California.


DEAL STATS #
Overall 1 of 6
Sector (Retail) 1 of 5
Type (Add-on Acquisition) 1 of 5
State (California) 1 of 1
Country (United States) 1 of 6
Year (2013) 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-06-29 Sheplers

Wichita, Kansas, United States

Sheplers, Inc. is a multi-channel retailer of western wear, offering a full line of men's, women's and children's western boots, jeans, apparel, d?cor gifts and accessories through its destination stores, a four season catalog with national circulation, and through the internet.

Buy $172M

Seller(S) 3

SELLER

Banyan Investment Partners

Miami, Florida, United States

Investor


Category Mezzanine Finance Firm
Founded 2002
PE ASSETS 550M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Banyan is a specialty finance firm that provides mezzanine capital to smaller middle-market companies headquartered primarily in the Southeast US. Banyan looks to invest $5 to $25 million of junior capital in profitable companies. The Firm does not have any industry preferences, however, Banyan will not invest in real estate development, oil and gas exploration, direct lenders, start-ups or turn-around situations. Banyan Mezzanine was formed in 2002 and is based in Miami, Florida.


DEAL STATS #
Overall 7 of 22
Sector (Retail) 2 of 4
Type (Add-on Acquisition) 3 of 14
State (California) 1 of 2
Country (United States) 7 of 22
Year (2013) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-04-01 Shooger

Coral Gables, Florida, United States

Shooger is a marketing automation platform with over 20 years in the digital marketing landscape, specializing in online marketing services including SEO, SEM, social media ads and automation, content marketing, email marketing, and real-time reporting. Shooger was founded in 2008 and is based in Coral Gables, Florida.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-06-26 Pinnacle Exhibits

Hillsboro, Oregon, United States

Pinnacle Exhibits is a full service provider of custom tradeshow exhibits and Events for large corporate customers with national and global brands. Pinnacle Exhibits was founded in 1998 and is based in Hillsboro, Oregon.

Buy -
SELLER

Diamond State Ventures

Little Rock, Arkansas, United States

Investor Investor


Category Growth Capital Firm
Founded 1999
PE ASSETS 125M USD
Size Small
Type Sector Agnostic
DESCRIPTION

Diamond State Ventures (DSV) is a private equity and venture capital firm focused on small and lower middle-market company investments in Arkansas, as well as the Midwest and Southeast US. DSV looks to commit $1 to $5 million per investment, which can take the form of subordinated debt, preferred equity or a combination of the two. Prospective transaction situations include growth capital financings, management buyouts, family successions, recapitalizations, and early stage investments. Sectors of interest include niche manufacturing, business services, media, consumer products and services, education, healthcare, and technology. DSV will not invest in seed or startup companies. Diamond State Ventures is based in Little Rock.


DEAL STATS #
Overall 4 of 14
Sector (Retail) 1 of 2
Type (Add-on Acquisition) 4 of 11
State (California) 1 of 2
Country (United States) 4 of 14
Year (2013) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-02-28 Mission Critical Electronics

Dallas, Texas, United States

Mission Critical Electronics is a niche-oriented manufacturer of power conversion, battery charging and battery products operating under the leading brands Kussmaul Electronics, Newmar Power, ASEA Power Systems, Power Products, and American Battery Charging. The Company focuses on critical system applications in specialty vehicle, public safety, and industrial/marine applications where durability, reliability, and performance are essential to deliver immediately accessible power. MCE’s solutions address application-specific requirements for 4,000 customers across 2,000+ branded SKUs. MCE is based in Dallas, Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-06-26 Pinnacle Exhibits

Hillsboro, Oregon, United States

Pinnacle Exhibits is a full service provider of custom tradeshow exhibits and Events for large corporate customers with national and global brands. Pinnacle Exhibits was founded in 1998 and is based in Hillsboro, Oregon.

Buy -
DESCRIPTION

Consumer Growth Partners is a private equity sponsor and financial advisory focused on the consumer and retail sectors. The Firm's private equity group seeks to invest at least $5 million in middle-market companies with proven business models, experienced management, and potential for growth. Consumer Growth Partners is based in White Plains, New York.


DEAL STATS #
Overall 1 of 3
Sector (Retail) 1 of 2
Type (Add-on Acquisition) 1 of 1
State (California) 1 of 1
Country (United States) 1 of 3
Year (2013) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-03-14 I.O. Metro

Lowell, Arizona, United States

I.O. Metro, LLC is a specialty lifestyle home furnishing retailer selling modern, eclectic, imported and domestically made furniture, lighting and home accessories. The Company currently operates 21 stores throughout several Midwestern states.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-12-16 VIOlife

Yonkers, New York, United States

VIOlife, LLC is a manufacturer and distributor of fashionable, functional and affordable oral and personal care products and accessories.

Buy -