M&A Deal Summary

Capmark Financial Group Acquires Bluestem Brands

On September 29, 2014, Capmark Financial Group acquired retailer Bluestem Brands from Battery Ventures for 565M USD

Acquisition Highlights
  • This is Capmark Financial Group’s 1st transaction in the Retail sector.
  • This is Capmark Financial Group’s largest (disclosed) transaction.
  • This is Capmark Financial Group’s 1st transaction in the United States.
  • This is Capmark Financial Group’s 1st transaction in Minnesota.
Investment Fate
  • Bluestem Brands went bankrupt in 2020.
  • Bluestem Brands was sold to a financial buyer in 2020 for 250M USD.

M&A Deal Summary
Date 2014-09-29
Target Bluestem Brands
Sector Retail
Buyer(s) Capmark Financial Group
Sellers(s) Battery Ventures
Deal Type Add-on Acquisition
Deal Value 565M USD
Advisor(s) Lazard Middle Market (Financial)
Skadden, Arps, Slate, Meagher & Flom
Faegre Baker Daniels LLP (Legal)

Target

Bluestem Brands

Eden Praire, Minnesota, United States
Bluestem Brands is a multi-brand retailer, delivering a wide selection of products and shop-at-home convenience through e-commerce and direct marketing via the Fingerhut and Gettington.com brands. In addition to offering a large selection of brand name products, our brands also offer a variety of credit options to provide families on a budget the flexibility of paying over time.

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Buyer(S) 1

Buyer

Capmark Financial Group

Horsham, Pennsylvania, United States
Category Company
Sector Financial Services
DESCRIPTION

Capmark Financial Group, Inc. is a commercial real estate finance company with investments and funds management and asset management businesses.

DEAL STATS #
Overall 1 of 2
Sector (Retail) 1 of 2
Type (Add-on Acquisition) 1 of 2
State (Minnesota) 1 of 1
Country (United States) 1 of 2
Year (2014) 1 of 1
Size (of disclosed) 1 of 2
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-05-27 Orchard Brands

Beverly, Massachusetts, United States

Orchard Brands Corp. is a multi-channel marketer of apparel and home products focused on serving the needs of the rapidly growing market segment of women and men above the age of fifty-five.

Buy $410M

Seller(S) 1

SELLER

Battery Ventures

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1983
PE ASSETS 13.0B USD
Size Mega
Type Sector Focused
DESCRIPTION

Battery Ventures is a private investment firm focused on opportunities in the technology and related-sectors. Battery will invest at all company stages, from seed and early-stage capital situations to leveraged buyouts, PIPEs, spin outs, rollups and take-privates of established companies. Battery's private equity group focuses on investments in companies with revenue of $5 to $200 million and EBITDA up to $25 million. Battery can commit up to $100 million in equity per transaction. Specific areas of interest include software; IT services and outsourcing; communications components, systems, and services; and financial services and tech-enabled businesses. Battery will consider investments throughout North America, Europe, and Asia. Battery Ventures was formed in 1983 and is headquartered in Menlo Park, California.

DEAL STATS #
Overall 27 of 63
Sector (Retail) 1 of 1
Type (Add-on Acquisition) 12 of 33
State (Minnesota) 2 of 2
Country (United States) 24 of 51
Year (2014) 6 of 9
Size (of disclosed) 8 of 20
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-09-25 James Heal

Halifax, United Kingdom

James Heal has been serving the textile industry for more than 140 years. Specialising in the design and manufacture of textile testing laboratory instruments and Test Materials, the precision engineering company's products are made all under one roof and entirely in the UK. The company supply equipment to textile and garment manufacturers worldwide, many of whom supply retailers renowned for high quality standards including Next, Marks & Spencer, Louis Vuitton, and the majority of the world's major car manufacturers. James Heal products and services are sold in over 60 countries worldwide, through an extensive network of exclusive local agents and distributors. James Heal was founded in 1872 and is based in Halifax, United Kingdom.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-10-01 Wayfair

Boston, Massachusetts, United States

Wayfair is an online home goods retailers focused on hard-line specialty categories, such as furniture, home improvement, housewares and office. Wayfair was established in 2002 and is based in Boston, Massachusetts.

Sell -
Mergr

Product

Company

Legal