M&A Deal Summary

Buffalo Games Acquires EastPoint Sports

On March 13, 2023, Buffalo Games acquired consumer products company EastPoint Sports from Bounds Equity Partners, Cardinal Equity Partners, Mason Wells, Patriot Capital and Centerfield Capital Partners

Acquisition Highlights
  • This is Buffalo Games’ 1st transaction in the Consumer Products sector.
  • This is Buffalo Games’ 1st transaction in the United States.
  • This is Buffalo Games’ 1st transaction in New Jersey.

M&A Deal Summary

Date 2023-03-13
Target EastPoint Sports
Sector Consumer Products
Buyer(s) Buffalo Games
Sellers(s) Bounds Equity Partners
Cardinal Equity Partners
Mason Wells
Patriot Capital
Centerfield Capital Partners
Deal Type Merger

Target

EastPoint Sports

Succasunna, New Jersey, United States
EastPoint Sports designs, sources, and distributes indoor and outdoor home recreational products through mass retail and e-commerce channels. The EastPoint Sports family of brands includes Go! Gater, Majik, Rec-Tek, Classic Sport, Narwhal, NHL, HEAD, PENN, Kan Jam, and Pro-Line Tailgating. EastPoint Sports was founded in 2009 and is based in Succasunna, New Jersey.

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Buyer(S) 1

Buyer

Buffalo Games

Buffalo, New York, United States

Category Company
Founded 1986
Sector Consumer Products
DESCRIPTION

Buffalo Games is a manufacturer and marketer of jigsaw puzzles in the U.S. and provider of party and board games for adults, children, and families. The Company has also developed a growing portfolio of the board, table and party games including titles such as Watch Ya Mouth®, Brain Games™, The Voting Game®, Skee-Ball®, Silly Street™, PlingPong!®, and more. Buffalo Games was founded in 1986 and is based in Buffalo, New York.


DEAL STATS #
Overall 1 of 1
Sector (Consumer Products) 1 of 1
Type (Merger) 1 of 1
State (New Jersey) 1 of 1
Country (United States) 1 of 1
Year (2023) 1 of 1

Seller(S) 5

SELLER

Bounds Equity Partners

Highland Park, Illinois, United States

Category Private Equity Firm
Founded 1988
PE ASSETS 100M USD
Size Small
Type Sector Agnostic
DESCRIPTION

Bounds Equity Partners LLC (BEP) is a private equity firm focused on smaller company investments (business with $1 million+ of EBITDA). The Firm targets growth companies with market/industry segment leadership, defensible market positions, and operating profit margin of at least 10 percent. BEP looks to invest at least $1 million per transaction and prefers situations where entrepreneurs are seeking liquidity. Target sectors include building materials and services, business services, healthcare products and services, niche distribution and specialty manufacturing. Bounds Equity Partners LLC was formed in 2009 and is based in Highland Park, Illinois.


DEAL STATS #
Overall 7 of 7
Sector (Consumer Products) 3 of 3
Type (Merger) 1 of 1
State (New Jersey) 2 of 2
Country (United States) 7 of 7
Year (2023) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-09-02 L&S Mechanical

Richardson, Texas, United States

L&S Mechanical is a provider of new home construction services in the plumbing and electrical industries. L&S Mechanical serves large production homebuilders in Dallas / Fort Worth, Houston, San Antonio, and Austin through its five production warehouses. L&S Mechanical was founded in 1985 and is based in Richardson, Texas.

Sell -
SELLER

Cardinal Equity Partners

Indianapolis, Indiana, United States

Investor Investor Investor


Category Private Equity Firm
Founded 1993
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Cardinal Equity Partners is a privately owned partnership that targets investments in lower middle-market businesses headquartered in the central portion of the US. Cardinal looks for light manufacturing, distribution, or service businesses with $5 to $50 million in revenue and at least $1 million of EBITDA. Prospective transaction situations include management buyouts, recapitalizations, family successions, and corporate spin-offs. Cardinal prefers businesses with proven management, recurring revenue, and no major customer concentration issues. Cardinal will not invest in software, heavy manufacturing, automotive, consulting, or companies with a significant percentage of non-US sales. Cardinal Equity Partners was formed in 1993 and is based in Indianapolis, Indiana.


DEAL STATS #
Overall 13 of 15
Sector (Consumer Products) 3 of 3
Type (Merger) 1 of 1
State (New Jersey) 1 of 1
Country (United States) 13 of 15
Year (2023) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-12-02 Gillette Generators

Elkhart, Indiana, United States

Gillette Generators is a Midwest-based manufacturer and supplier of premium standby backup and prime power generators for agricultural, commercial, industrial, and critical infrastructure end-users. Gillette Generators is based in Elkhart, Indiana.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-03-25 Poly Wood

Syracuse, Indiana, United States

Poly Wood is a manufacturer of eco-friendly outdoor furniture and accessories, mostly made from HDPE recycled plastic lumber or aluminum. Poly Wood was founded in 1990 and is based in Syracuse, Indiana.

Sell -
SELLER

Mason Wells

Milwaukee, Wisconsin, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1998
PE ASSETS 2.4B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Mason Wells is a private equity firm focused on middle-market buyout opportunities in the Midwest US. Mason Wells looks to invest in businesses operating in engineered products and services, outsourced business services, and specialty packaging. Target companies typically generate revenue of $25 to $300 million and EBITDA of at least $5 million. The Firm prefers businesses with high barriers to entry, limited customer concentration, and strong market positions. Mason Wells was originally formed 1982 as a subsidiary of Marshall & Ilsley Corporation and became an independent firm in 1998. Mason Wells is based in Milwaukee, Wisconsin.


DEAL STATS #
Overall 40 of 40
Sector (Consumer Products) 4 of 4
Type (Merger) 2 of 2
State (New Jersey) 1 of 1
Country (United States) 38 of 38
Year (2023) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-01-10 Paragon Development System

Oconomowoc, Wisconsin, United States

Paragon Development System is an information technology integrator that provides hardware, software, and services to medium and large healthcare, government, education, and corporate customers that have enterprise-class IT infrastructures. Paragon Development System was founded in 1986 and is based in Oconomowoc, Wisconsin.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-09-18 Accord

Alsip, Illinois, United States

Accord designs and manufactures custom folding cartons for private label and branded consumer goods, primarily serving food and beverage end markets. Food and beverage applications include dry foods, frozen foods, and can and bottle wraps and baskets for beer, seltzer, cocktail, energy drink, and other specialty beverage items. Accord serves global and regional consumer packaged goods companies throughout North America. Accord is based in Alsip, Illinois.

Buy -
SELLER

Patriot Capital

Baltimore, Maryland, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Size Large
Type Sector Agnostic
DESCRIPTION

Patriot Capital is a private investment firm that provides equity and junior capital to support acquisitions, growth capital financings, management buyouts, and recapitalizations of middle-market companies. The Firm looks to invest $5 to $25 million in businesses generating revenues of $10 to $200 million. Areas of interest include business and consumer services, consumer products, niche manufacturing and distribution, education, e-commerce, application software, transportation, and telecom services. Patriot focuses its investment activity with the Mid-Atlantic, Midwest, and Southern areas of the US. Patriot Capital is based in Baltimore, Maryland.


DEAL STATS #
Overall 47 of 50
Sector (Consumer Products) 2 of 2
Type (Merger) 2 of 2
State (New Jersey) 5 of 5
Country (United States) 47 of 50
Year (2023) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-03-02 Turnwell Mental Health Network

Dallas, Texas, United States

Turnwell Mental Health Network is a clinician-led, integrated mental health group with a mission to expand access to high quality care in underserved markets. Turnwell Mental Health Network was founded in 2022 and is based in Dallas, Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-06-01 Race Technologies

Irvine, California, United States

Race Technologies provides supply chain services and high-performance product distribution across the globe and has been serving the global performance automotive and motorcycle racing, custom build, and enthusiast markets. Race Technologies was founded in 1998 and is based in Irvine, California.

Buy -
SELLER

Centerfield Capital Partners

Indianapolis, Indiana, United States

Investor Investor Investor Investor Investor


Category Mezzanine Finance Firm
Founded 2001
PE ASSETS 1.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Centerfield Capital Partners is a private investment firm that provides subordinated debt and equity capital to mid-market companies. Prospective transactions include acquisition financings, management buyouts, shareholder liquidity needs, recapitalizations, corporate divestitures, ESOP financings, and sponsored/unsponsored transactions. Centerfield generally invests in companies with sales of $15 to $100 million and EBITDA of $3 to $15 million. Target sectors include manufacturing, business services, healthcare services, and transportation/distribution. Centerfield will not invest in early stage businesses, turnaround situations, retail, real estate, and finance companies. Centerfield Capital Partners was founded in 2001 and is based in Indianapolis, Indiana.


DEAL STATS #
Overall 40 of 42
Sector (Consumer Products) 5 of 5
Type (Merger) 3 of 3
State (New Jersey) 1 of 1
Country (United States) 40 of 42
Year (2023) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-02-06 Business Solution Partners

Roslyn, New York, United States

Business Solution Partners provides IT services to the middle-market with a strong focus on financial systems implementation. The company specializes in the Oracle NetSuite ERP Platform as a Certified Solution Provider Partner. In addition to NetSuite, it represents a wide array of cloud software solutions across the ERP, CRM, e-Commerce, Fintech and Martech ecosystems. Clients enjoy personalized consulting leading to business process optimization when taking advantage BSP's four primary service areas: Implementation, Custom Development, Software Training, and SaaS Support. Business Solution Partners was formed in 1992 and is based in Roslyn, New York.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-04-01 Automated Systems Design

Alpharetta, Georgia, United States

Automated Systems Design is a provider of design, engineering and project management services specializing in IT, audio/visual and security system installations. Automated Systems Design was founded in 1986 and is based in Alpharetta, Georgia.

Sell -