M&A Deal Summary

Branford Castle Partners Acquires Drew Foam

On June 4, 2018, private equity firm Branford Castle Partners acquired packaging company Drew Foam from The Gladstone Companies

Acquisition Highlights
  • This is Branford Castle Partners’ 1st transaction in the Packaging sector.
  • This is Branford Castle Partners’ 9th transaction in the United States.
  • This is Branford Castle Partners’ 1st transaction in Arkansas.
Investment Fate
  • Drew Foam was sold to a consortium of financial buyers in 2020.
  • Drew Foam merged with another company in 2021.

M&A Deal Summary

Date 2018-06-04
Target Drew Foam
Sector Packaging
Buyer(s) Branford Castle Partners
Sellers(s) The Gladstone Companies
Deal Type Secondary Buyout

Target

Drew Foam

Monticello, Arkansas, United States
Drew Foam is a provider of custom-fabricated expanded polystyrene foam ("EPS") products serving the packaging, building products, and consumer end-markets, primarily in the Southeastern United States. Drew Foam was founded in 1965 and is based in Monticello, Arkansas.

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Buyer(S) 1

Buyer

Branford Castle Partners

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1986
PE ASSETS 200M USD
Size Small
Type Sector Agnostic
DESCRIPTION

Branford Castle is a private investment firm that seeks investments in traditional companies with stable cash flows. Branford Castle prefers investing in 'old economy' businesses valued up to $100 million. Brandford will consider public or private companies, but the Firm will not invest in bankrupt, turnaround, or distressed situations. Sectors of interest include manufacturing, commercial distribution, services, consumer products, publishing, restaurants, and infrastructure. Branford Castle was formed in 1986 and is based in New York, New York.


DEAL STATS #
Overall 10 of 22
Sector: Packaging M&A 1 of 1
Type: Secondary Buyout M&A Deals 2 of 7
State: Arkansas M&A 1 of 1
Country: United States M&A 9 of 21
Year: 2018 M&A 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-04-17 Titan Production Equipment

The Woodlands, Texas, United States

Titan Production Equipment is a designer and fabricator of oil and gas production equipment. The Company’s products are used by oil and gas operators to separate, process and treat hydrocarbon streams at the wellhead, gathering and processing stages. Titan offers deep engineering expertise and has capacity to manufacture at high volumes in an ASME-certified facility that produces both pre-designed and custom separators, heater treaters, glycol dehydration units, as well as a wide range of other production equipment products. Titan Production Equipment is based in The Woodlands, Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-11-12 CMP Group

Delta, British Columbia, Canada

CMP Group is a manufacturer and distributor of branded products serving the recreational marine, commercial marine, and industrial markets. CMP Group is based in Delta, British Columbia.

Sell -

Seller(S) 1

SELLER

The Gladstone Companies

Investor Investor Investor Investor Investor


Category Lender
Founded 2001
PE ASSETS 2.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

The Gladstone Companies manages a series of publicly traded investment vehicles and looks to make debt and equity investments in US-based small to middle-market businesses. The Firm focuses on second lien debt, mezzanine debt, secured and unsecured subordinated loans, equity and real estate sale leasebacks. Target investments generally range from $5 to $30 million in companies with over $3 million in EBITDA. Target sectors include manufacturing, industrial products, business and government Services, media, communications, consumer products and services, healthcare services, transportation, specialty chemicals, and energy services. The Gladstone Companies was formed in 2001 and is based in McLean, Virginia.


DEAL STATS #
Overall 8 of 18
Sector: Packaging M&A 1 of 2
Type: Secondary Buyout M&A Deals 5 of 8
State: Arkansas M&A 1 of 1
Country: United States M&A 8 of 18
Year: 2018 M&A 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-11-21 Arc Drilling

Valley View, Ohio, United States

Arc Drilling is a provider of fast hole EDM, wire EDM, and sinker EDM manufacturing services. Arc Drilling is a long-time supplier to OEMs and Tier I suppliers in the industrial gas turbine, aerospace engine, and industrial markets. Arc Drilling has manufacturing operations in Cleveland, Greenville, South Carolina and Charleston, South Carolina. Arc Drilling was founded in 1961 and is based in Valley View, Ohio.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-11-01 LogoSportswear

Cheshire, Connecticut, United States

LogoSportswear, Inc. is an online provider of custom apparel to companies and teams. Logo Sportswear is differentiated by its breadth of premium merchandise, its quick-turn in-house production capabilities and its proprietary on-line designer. Logo Sportswear founded in 1995 and headquartered in Wallingford, Connecticut.

Sell -