M&A Deal Summary

Brentwood Associates and Golub Capital Acquire J.McLaughlin

On November 16, 2015, private equity firm Brentwood Associates and lender Golub Capital acquired retailer J.McLaughlin from JH Partners and Palladin Consumer Retail Partners

Acquisition Highlights
  • This is Brentwood Associates’ 8th and Golub Capital’s 4th transaction in the Retail sector.
  • This is Brentwood Associates’ 27th and Golub Capital’s 43rd transaction in the United States.
  • This is Brentwood Associates’ 2nd and Golub Capital’s 2nd transaction in New York.

M&A Deal Summary

Date 2015-11-16
Target J.McLaughlin
Sector Retail
Buyer(s) Brentwood Associates
Golub Capital
Sellers(s) JH Partners
Palladin Consumer Retail Partners
Deal Type Secondary Buyout
Advisor(s) The Sage Group (Financial)
Kirkland & Ellis (Legal)

Target

J.McLaughlin

Brooklyn, New York, United States
J.McLaughlin is a designer, marketer and multi-channel retailer of classic American sportswear with modern relevance. J.McLaughlin was founded in 1977 and is based in Brooklyn, New York.

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Buyer(S) 2

Buyer

Brentwood Associates

Los Angeles, California, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1972
PE ASSETS 2.4B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Brentwood Associates is a private equity firm focused on long-term investments in middle-market growth companies. Brentwood typically targets investments in consumer-related businesses. Specific areas of interest include action sports/outdoor lifestyle products, business services, consumer products/services, direct marketing, distribution, education, health/wellness, marketing services, specialty media, specialty retail, and sporting goods. Brentwood's preferred equity investment size is $50 to $200 million. Brentwood Associates was formed in 1972 and is based in Los Angeles, California.


DEAL STATS #
Overall 30 of 48
Sector: Retail M&A 8 of 9
Type: Secondary Buyout M&A Deals 6 of 11
State: New York M&A 2 of 2
Country: United States M&A 27 of 45
Year: 2015 M&A 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-10-23 Xtend Healthcare

Hendersonville, Tennessee, United States

Xtend Healthcare LLC is a market provider of revenue cycle outsourcing solutions to the hospital market. Xtend currently serves more than 130 hospitals, ranging from large teaching university-affiliated hospitals and urban medical centers to rural critical access hospitals. Services include health insurance claims billing and account resolution, patient billing, customer service and follow-up, as well as revenue cycle consulting.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-01-19 Boston Proper

Boca Raton, Florida, United States

Boston Proper is a women’s apparel retailer offering chic, on-trend, and confidently feminine styles through its online and catalog platforms. The brand emphasizes sophisticated, flattering fashion for women seeking stylish looks for every occasion. Boston Proper was founded in 1992 and is based in Boca Raton, Florida.

Buy -
Buyer

Golub Capital

New York, New York, United States

Investor Investor Investor Investor Investor


Category Lender
Founded 1994
PE ASSETS 75.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Golub Capital is a private investment firm focused on making debt and equity investments in US based middle-market companies. Golub looks to invest between $5 and $75 million in businesses with established operating cash flow, strong customer relationships, and 'sustainable proprietary positions in their markets'. Prospective investment structures include refinancings, recapitalizations, buyouts, and growth financings. Sectors of interest include consumer products, business and consumer services, defense, manufacturing, value-added distribution, media, healthcare services and restaurants. Golub Capital was formed in 1994 and maintains offices in New York City, Atlanta, and Chicago.


DEAL STATS #
Overall 43 of 69
Sector: Retail M&A 4 of 8
Type: Secondary Buyout M&A Deals 15 of 27
State: New York M&A 2 of 3
Country: United States M&A 43 of 66
Year: 2015 M&A 11 of 11
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-11-16 B+B SmartWorx

Ottawa, Illinois, United States

B+B SmartWorx designs and manufactures wired and wireless industrial networking and device connectivity solutions. B+B’s products allow customers to network-enable legacy equipment, extend network connections, or embed network connectivity into applications where reliability in rugged or hostile environments is critical.

Sell $100M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-01-01 Groundworks

Virginia Beach, Virginia, United States

Groundworks is a vertically integrated foundation services company that serves primarily the single-family residential market, providing a critical suite of services to homeowners that preserve home value, integrity, and safety, including foundation repair, basement waterproofing, crawl space repair and encapsulation, and concrete lifting. Groundworks was founded in 2016 and is based in Virginia Beach, Virginia.

Buy -

Seller(S) 2

SELLER

JH Partners

San Francisco, California, United States

Investor Investor Investor Investor


Category Private Equity Firm
Founded 1997
PE ASSETS 1.0B USD
Size Large
Type Sector Focused
DESCRIPTION

JH Partners LLC is a private equity firm. It typically invests in online direct marketing, business to business, online services, internet software and services, food products, beverages, consumer staples, advertising, media, consumer services. It seeks to invest between $10 and $300 million in revenues. JH Partners is a hands-on investor and desires to work closely with portfolio companies. JH Partners was formed in 1997 and is based in San Francisco, California.


DEAL STATS #
Overall 18 of 24
Sector: Retail M&A 3 of 4
Type: Secondary Buyout M&A Deals 2 of 2
State: New York M&A 1 of 2
Country: United States M&A 16 of 20
Year: 2015 M&A 5 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-08-03 DR Power Equipment

Vergennes, Vermont, United States

DR Power Equipment is a designer, assembler, and marketer of professional grade outdoor power equipment for homeowners under the DR and Neuton brand names. DR Power Equipment was founded in 1985 and is based in Vergennes, Vermont.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-04-01 GREATS Brand

Brooklyn, New York, United States

GREATS Brand is a provider of men's and women's sneaker. GREATS Brand was founded in 2013 and is based in Brooklyn, New York.

Buy -
DESCRIPTION

Palladin Consumer Retail Partners is a private equity firm focused on consumer and retail company investments across North America. The Firm looks to invest $25to $100 million in companies with $50 to $500 million of revenue. Specific areas of interest include specialty stores, branded apparel, drug stores, discount chains, food retailers, wholesalers and manufacturers of consumer goods, consumer services, and e-commerce. Palladin Consumer Retail Partners was formed in 1998 and is based in Boston, Massachusetts.


DEAL STATS #
Overall 1 of 4
Sector: Retail M&A 1 of 2
Type: Secondary Buyout M&A Deals 1 of 2
State: New York M&A 1 of 1
Country: United States M&A 1 of 4
Year: 2015 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-10-22 Harrys of London

London, United Kingdom

Harrys of London is a luxury shoemaker and accessories house known for combining traditional craftsmanship with the latest footwear technology.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-10-30 InMotion Entertainment Group

Jacksonville, Florida, United States

InMotion Entertainment Group offers airport concessions premium retail brands including InMotion Entertainment, Soundbalance, and Headphone Hub. The stores feature premium electronics, including tablets, digital cameras, portable power, and noise-canceling headphones.

Sell -