M&A Deal Summary

Clearview Capital, Brookside Equity Partners and Peninsula Capital Partners Acquire American Furniture Manufacturing

On September 26, 2001, private equity firm Clearview Capital, private equity firm Brookside Equity Partners and mezzanine finance firm Peninsula Capital Partners acquired furniture company American Furniture Manufacturing for 36M USD

Acquisition Highlights
  • This is Clearview Capital’s 2nd, Brookside Equity Partners’ 2nd and Peninsula Capital Partners’ 1st transaction in the Furniture sector.
  • This is Clearview Capital’s , Brookside Equity Partners’ 2nd and Peninsula Capital Partners’ 2nd largest (disclosed) transaction.
  • This is Clearview Capital’s 3rd, Brookside Equity Partners’ 6th and Peninsula Capital Partners’ 29th transaction in the United States.
  • This is Clearview Capital’s 1st, Brookside Equity Partners’ 1st and Peninsula Capital Partners’ 1st transaction in Mississippi.
Investment Fate
  • American Furniture Manufacturing was sold to a consortium of financial buyers in 2004.
  • American Furniture Manufacturing was sold to a consortium of financial buyers in 2007 for 93M USD.
  • American Furniture Manufacturing was sold to management in 2015 for 24M USD.

M&A Deal Summary

Date 2001-09-26
Target American Furniture Manufacturing
Sector Furniture
Buyer(s) Clearview Capital
Brookside Equity Partners
Peninsula Capital Partners
Deal Type Buyout (LBO, MBO, MBI)
Deal Value 36M USD

Target

American Furniture Manufacturing

Ecru, Mississippi, United States
American Furniture Manufacturing, Inc. is a manufacturer of promotional upholstered residential furniture sold to regional independent retailers, rent-to-own dealers and distributors nationwide.

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Buyer(S) 3

Buyer

Clearview Capital

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1999
PE ASSETS 645M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Clearview Capital LLC is a private equity firm that targets investments in North American companies with operating profits between $4 and $20 million. Sectors of interest include general manufacturing, plastics, food processing, furniture, education, healthcare, outsourcing, distribution, oil field services, consumer products, and industrial. The Firm prefers majority investment situations in transaction types that include corporate divestitures, management buyouts, and ownership transfers of closely-held companies. Clearview Capital was formed in 1999 and has offices in Connecticut, California.


DEAL STATS #
Overall 3 of 43
Sector (Furniture) 2 of 3
Type (Buyout (LBO, MBO, MBI)) 2 of 21
State (Mississippi) 1 of 1
Country (United States) 3 of 42
Year (2001) 2 of 2
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2001-03-01 AZEK

Chicago, Illinois, United States

AZEK is a manufacturer of beautiful, low-maintenance residential and commercial building products, and is committed to accelerating the use of recyclable materials. The company is completely focused on leveraging our expertise in materials science and its customer-centric approach to engineer and manufacture the most beautiful, most sustainable building products to improve the lives and businesses of our customers. AZEK is based in Chicago, Illinois.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2003-07-11 M.H. Zeigler & Sons

Lansdale, Pennsylvania, United States

M.H. Zeigler & Sons is a manufacturer and distributor of refrigerated apple cider and cider blends.

Buy -
Buyer

Brookside Equity Partners

Stamford, Connecticut, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1977
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Brookside Equity Partners (BEP) focuses on private equity investments, including direct control investments, majority or minority co-investments alongside other investment firms, and, on a selective basis, investments in private funds or special situations. BEP targets North American middle-market companies with revenues greater than $15 million and at least $5 million of EBITDA. Sectors of interest include manufacturing, chemicals, financial services, environmental, food, and distribution. Brookside Equity Partners was formed in 1977 and is based in Stamford, Connecticut.


DEAL STATS #
Overall 6 of 37
Sector (Furniture) 2 of 3
Type (Buyout (LBO, MBO, MBI)) 4 of 14
State (Mississippi) 1 of 1
Country (United States) 6 of 36
Year (2001) 3 of 3
Size (of disclosed) 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2001-09-19 PTC Therapeutics

South Plainfield, New Jersey, United States

PTC Therapeutics is a biopharmaceutical company focused on the discovery, development and commercialization of orally administered, proprietary small molecule drugs targeting an area of RNA biology we refer to as post-transcriptional control. PTC Therapeutics was founded in 1998 and is based in South Plainfield, New Jersey.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2003-07-11 M.H. Zeigler & Sons

Lansdale, Pennsylvania, United States

M.H. Zeigler & Sons is a manufacturer and distributor of refrigerated apple cider and cider blends.

Buy -
Buyer

Peninsula Capital Partners

Southfield, Michigan, United States

Investor Investor Investor Investor Investor


Category Mezzanine Finance Firm
Founded 1995
PE ASSETS 1.9B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Peninsula Capital Partners is an investment group focused on providing a range of financing solutions to middle-market companies. The Firm is willing to be a minority or control investor and invests across the capital structure. This includes subordinated debt, preferred or common stock. For mezzanine commitments, Peninsula looks to invest $5 to $40 million. For equity transactions, Peninsula looks to invest $2 to $20 million. Peninsula is a generalist investor. Target sectors include manufacturing, industrial service, distribution, consumer products, professional services, retail, applied technology, transportation, food processing and packaging. Peninsula Capital Partners was formed in 1995 and is based in Detroit, Michigan.


DEAL STATS #
Overall 29 of 128
Sector (Furniture) 1 of 2
Type (Buyout (LBO, MBO, MBI)) 16 of 65
State (Mississippi) 1 of 1
Country (United States) 29 of 121
Year (2001) 3 of 3
Size (of disclosed) 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2001-07-01 All-Pak

Bridgeville, Pennsylvania, United States

All-Pak, Inc. is a privately held packaging design, distribution and logistics company headquartered in Bridgeville, PA. The Company provides packaging solutions such as metal and plastic drums, plastic bottles, closures, labels, bags and a myriad of other packaging components.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2002-01-01 Celanese EVA Performance Polymers

Edmonton, Alberta, United Kingdom

Celanese EVA (ethylene vinyl acetate) polymers is a North American manufacturer of a full range of EVA copolymers. Celanese EVA polymers is based in Dallas, Texas, and its manufacturing plant is located in Edmonton, Alberta, Canada.

Buy -