M&A Deal Summary

Cortec Group and Fifth Street Capital Acquire YETI Coolers

On June 15, 2012, private equity firm Cortec Group and lender Fifth Street Capital acquired manufacturer YETI Coolers

Acquisition Highlights
  • This is Cortec Group’s 6th and Fifth Street Capital’s 3rd transaction in the Manufacturing sector.
  • This is Cortec Group’s 24th and Fifth Street Capital’s 57th transaction in the United States.
  • This is Cortec Group’s 2nd and Fifth Street Capital’s 7th transaction in Texas.

M&A Deal Summary

Date 2012-06-15
Target YETI Coolers
Sector Manufacturing
Buyer(s) Cortec Group
Fifth Street Capital
Deal Type Buyout (LBO, MBO, MBI)
Advisor(s) Harris Williams (Financial)

Target

YETI Coolers

Austin, Texas, United States
YETI is the leading designer and marketer of premium, rotationally molded coolers, accessories and related gear sold under the YETI® brand. The Company has experienced rapid growth and holds the #1 market position in the premium cooler category. YETI currently sells to a broad-based “enthusiast” customer group through a broad range of national, regional, and local retailers serving a variety of end markets, including specialty hunting and fishing, outdoor sporting goods, hardware, farm and ranch supply, and oilfield services, among others. The Company’s authentic outdoor lifestyle brand is revered by a passionate base of consumers who appreciate the unmatched performance and toughness of YETI’s rotationally molded premium coolers.

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Buyer(S) 2

Buyer

Cortec Group

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1984
PE ASSETS 6.4B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Cortec Group is a private equity firm focused on acquiring mid-sized businesses operating in basic industries. Cortec Group is an experienced and knowledgeable investor in healthcare products and services, B2C and B2B products, value-added distribution (including eCommerce), and specialty services companies with equity of $100-$500 million and EBITDA of $10 to $50 million. Cortec Group was formed in 1984 and is based in New York City.


DEAL STATS #
Overall 24 of 49
Sector: Manufacturing M&A 6 of 7
Type: Buyout (LBO, MBO, MBI) M&A Deals 16 of 20
State: Texas M&A 2 of 2
Country: United States M&A 24 of 48
Year: 2012 M&A 2 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-01-06 Cranial Technologies

Tempe, Arizona, United States

Cranial Technologies engages in treatment of plagiocephaly, or flat head syndrome, which typically manifests itself in infants 3 to 18 months of age. The Company’s skilled clinicians provide superior patient outcomes through a network of 37 treatment centers using a proprietary FDA-cleared cranial orthotic helmet, which is custom manufactured in-house. Cranial Technologies was formed in 1988 and is based in Tempe, Arizona.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-07-20 Harmar

Sarasota, Florida, United States

Harmar is a designer, manufacturer, and marketer of mobility and accessibility solutions for individuals who use power wheelchairs/scooters or are otherwise mobility impaired. Harmar was founded in 1998 and is based in Sarasota, Florida.

Buy -
DESCRIPTION

Fifth Street Capital is a public investment firm focused on providing mezzanine financing to support expansions, acquisitions, recapitalizations, and management buyouts of middle-market US based companies. Fifth Street looks to invest between $5 and $50 million per transaction. Sectors of interest include consumer products, healthcare services, manufacturing, medical device manufacturing, food services, business services, restaurants, speciality retail, logistics, and value added distribution. Fifth Street Capital is based in White Plains, New York.


DEAL STATS #
Overall 58 of 70
Sector: Manufacturing M&A 3 of 3
Type: Buyout (LBO, MBO, MBI) M&A Deals 24 of 27
State: Texas M&A 7 of 8
Country: United States M&A 57 of 69
Year: 2012 M&A 7 of 13
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-05-29 I Drive Safely

Carlsbad, California, United States

I Drive Safely is a provider of online driver training solutions serving teenagers, adults, senior citizens, and corporations.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-07-03 Clario

Philadelphia, Pennsylvania, United States

Clario offers a compelling combination of technology, services, and clinical expertise, helping customers to deliver successful clinical trial outcomes by ensuring high-quality data capture, reduced costs, and shortened study timelines. Clario was founded in 1972 and is based in Philadelphia, Pennsylvania.

Buy $400M