M&A Deal Summary

CI Capital Partners, AEA Investors and PennantPark Investment Advisers Acquire Galls

On October 3, 2011, private equity firm CI Capital Partners, private equity firm AEA Investors and lender PennantPark Investment Advisers acquired distribution company Galls from Aramark for 163M USD

Acquisition Highlights
  • This is CI Capital Partners’ 4th, AEA Investors’ 10th and PennantPark Investment Advisers’ 1st transaction in the Distribution sector.
  • This is CI Capital Partners’ 4th, AEA Investors’ 8th and PennantPark Investment Advisers’ 4th largest (disclosed) transaction.
  • This is CI Capital Partners’ 12th, AEA Investors’ 38th and PennantPark Investment Advisers’ 7th transaction in the United States.
  • This is CI Capital Partners’ 1st, AEA Investors’ 1st and PennantPark Investment Advisers’ 1st transaction in Kentucky.
Investment Fate
  • Galls was sold to a consortium of financial buyers in 2018.

M&A Deal Summary
Date 2011-10-03
Target Galls
Sector Distribution
Buyer(s) CI Capital Partners
AEA Investors
PennantPark Investment Advisers
Sellers(s) Aramark
Deal Type Divestiture
Deal Value 163M USD

Target

Galls

Lexington, Kentucky, United States
Galls is a distributor of uniforms and equipment to the public safety market. Galls represents the largest distributor of uniform and equipment to public safety personnel, including police, fire, EMS, private security, corrections, federal/military, and postal. Galls services customers through a national catalogue, convenient eCommerce site, more than 50 dedicated sales reps, 80 locations, and its proprietary "eQuip" online solution serving state and local agencies. Each year, more than one million men and women in the public safety, postal and public transportation industries depend on Galls for their essential equipment and apparel. Galls was founded in 1967 and is based in Lexington, Kentucky.

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Buyer(S) 3

Buyer

CI Capital Partners

New York, New York, United States

Investor Investor

Category Private Equity Firm
Founded 1993
Size Large
Type Sector Agnostic
DESCRIPTION

CI Capital Partners is a private equity investment firm specializing in leveraged buyouts of middle-market companies. CI Capital primarily targets investments in North America and looks to invest between $10 and $150 million of equity capital per transaction. The Firm concentrates on acquiring companies in stable industries with consolidation potential. CI has a particular interest in business services, consumer services, distribution, transportation, and healthcare Services. CI Capital Partners was founded in 1993 and is based in New York City.

DEAL STATS #
Overall 16 of 31
Sector (Distribution) 4 of 5
Type (Divestiture) 1 of 1
State (Kentucky) 1 of 1
Country (United States) 12 of 27
Year (2011) 3 of 3
Size (of disclosed) 4 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-10-01 Interactive Health Solutions

Schaumburg, Illinois, United States

Interactive Health Solutions (IHS) is a provider of comprehensive corporate health management and preventive wellness programs. Its services and tools use biometric data and a health risk assessment to evaluate employees’ personal health levels and develop customized programs with specific improvement goals for individual employees. Interactive Health Solutions was founded in 1992 and is based in Schaumburg, Illinois.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-01-09 Precision Concepts International

Mooresville, North Carolina, United States

Precision Concepts International is a specialty plastic packaging company providing a broad array of packaging solutions to the personal care and pharmaceutical markets. Precision Concepts International was founded in 2003 and is based in Mooresville, North Carolina.

Buy -
Buyer

AEA Investors

New York, New York, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1968
PE ASSETS 19.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

AEA Investors is a private investment firm focused on investing in and acquiring businesses headquartered primarily in the US, Europe, and China. AEA looks for companies operating in stable to growing industries with a proven ability to generate positive cash-flow. Broad sectors of interest include value-added industrial products/services, specialty chemicals, consumer products, and services. In addition to its primary middle-market private equity fund, AEA maintains additional funds targeted towards mezzanine financing, senior secured debt, and small business buyouts. AEA Investors was formed in 1968 and is based in New York City.

DEAL STATS #
Overall 44 of 118
Sector (Distribution) 10 of 19
Type (Divestiture) 3 of 7
State (Kentucky) 1 of 2
Country (United States) 38 of 103
Year (2011) 3 of 4
Size (of disclosed) 8 of 9
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-10-01 Industrial Controls Distributors

Wanamassa, New Jersey, United States

Industrial Controls Distributors is a distributor of industrial automation controls, industrial components and commercial heating, ventilation and air conditioning and combustion controls in the Mid-Atlantic and New England regions of the United States.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-11-01 Implus

Durham, North Carolina, United States

Implus designs, markets and distributes insoles, foot care devices, traction devices, socks, shoe care products and shoe laces under four primary brand names (Sof Sole, AirPlus, Sof Comfort, Yaktrax and Sneakerballs) and several private-label brands. Implus was founded in Durham, North Carolina.

Sell -
Buyer

PennantPark Investment Advisers

Investor Investor Investor Investor Investor

Category Lender
Founded 2007
PE ASSETS 6.4B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

PennantPark is a provider of credit solutions to middle-market private equity sponsors. The Firm looks to provide $10 to $100 million of capital and can support a variety of investment structures. PennantPark was formed in 2007 and is headquartered in New York City.

DEAL STATS #
Overall 7 of 22
Sector (Distribution) 1 of 2
Type (Divestiture) 1 of 3
State (Kentucky) 1 of 1
Country (United States) 7 of 22
Year (2011) 3 of 4
Size (of disclosed) 4 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-06-30 LegalShield

Ada, Oklahoma, United States

LegalShield is a provider of legal plans and identity theft solutions to families and small businesses across the US and Canada. LegalShield was founded in 1972 and is based in Ada, Oklahoma.

Buy $650M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-10-21 Victra

Raleigh, North Carolina, United States

Victra operates as an exclusive authorized agent for Verizon Wireless. Victra has approximately 1,600 Verizon-branded retail stores across 49 states, offering a comprehensive mix of wireless devices including smartphones, feature phones, tablets, mobile broadband, and wearables; as well as a broad range of accessories and device insurance coverage. Victra was founded in 1996 and is based in Raleigh, North Carolina.

Buy -

Seller(S) 1

SELLER

Aramark

Philadelphia, Pennsylvania, United States
Category Company
Founded 1959
Sector Business Services
Employees262,550
Revenue 18.9B USD (2023)
DESCRIPTION
Aramark supply vehicle in Superior, Wisconsin.
Aramark supply vehicle in Superior, Wisconsin.

Aramark is a professional services, providing food services, facilities management, and uniform and career apparel to healthcare institutions, universities and school districts, stadiums and arenas, businesses and government departments and agencies. Aramark was incorporated in 1959 and is headquartered in Philadelphia, Pennsylvania.

DEAL STATS #
Overall 2 of 4
Sector (Distribution) 1 of 1
Type (Divestiture) 2 of 3
State (Kentucky) 1 of 1
Country (United States) 2 of 4
Year (2011) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-06-08 Seamless North America

New York, New York, United States

Seamless is the leading online food ordering service in the United States. The Company offers consumers and corporations an easy-to-use, web-based platform for ordering meals and catering from over 7,000 restaurants in the U.S. and U.K. Over one million individuals and many of the world’s largest companies have made Seamless their preferred service for online food ordering by placing more than 50 million food orders through the company’s websites. Seamless is headquartered in New York, NY.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-05-20 Seamless North America

New York, New York, United States

Seamless is the leading online food ordering service in the United States. The Company offers consumers and corporations an easy-to-use, web-based platform for ordering meals and catering from over 7,000 restaurants in the U.S. and U.K. Over one million individuals and many of the world’s largest companies have made Seamless their preferred service for online food ordering by placing more than 50 million food orders through the company’s websites. Seamless is headquartered in New York, NY.

Sell -
Mergr

Product

Company

Legal