M&A Deal Summary

Court Square Capital Partners and PennantPark Acquire Vestcom

On December 13, 2012, private equity firm Court Square Capital Partners and lender PennantPark acquired marketing company Vestcom from Lake Capital

Acquisition Highlights
  • This is Court Square Capital Partners’ 3rd and PennantPark’s 2nd transaction in the Marketing sector.
  • This is Court Square Capital Partners’ 25th and PennantPark’s 13th transaction in the United States.
  • This is Court Square Capital Partners’ 1st and PennantPark’s 1st transaction in Arkansas.
Investment Fate
  • Vestcom was sold to a consortium of financial buyers in 2016.
  • Vestcom was sold to a publicly-traded strategic buyer in 2021 for 1.5B USD.

M&A Deal Summary

Date 2012-12-13
Target Vestcom
Sector Marketing
Buyer(s) Court Square Capital Partners
PennantPark
Sellers(s) Lake Capital
Deal Type Secondary Buyout

Target

Vestcom

Little Rock, Arkansas, United States
Vestcom is a provider of technology-enabled shelf-edge media solutions to the retail and consumer products industry. The company offers an array of solutions including customized shelf-edge labels, branding and promotional content labels, and shelf-edge strips with product information. Vestcom was founded in 1996 and is based in Little Rock, Arkansas.

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Buyer(S) 2

Buyer

Court Square Capital Partners

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1968
PE ASSETS 7.7B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Court Square Capital Partners (CSCP) is a generalist private equity firm that seeks middle market company investments across the US. CSCP looks to partner with management teams to accelerate revenue growth and improve operating efficiency. Sectors of interest include business services, building products, chemicals, consumer products, food products/services, healthcare, aerospace/defense, manufacturing, media, technology, telecommunications, and transportation. Court Square Capital Partners was formerly known as Citigroup Venture Capital Equity Partners. The Group spun out of Citigroup and became independent in 2006. CSCP is based in New York City.


DEAL STATS #
Overall 28 of 69
Sector: Marketing M&A 3 of 6
Type: Secondary Buyout M&A Deals 12 of 33
State: Arkansas M&A 1 of 1
Country: United States M&A 25 of 66
Year: 2012 M&A 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-09-04 SGS

Louisville, Kentucky, United States

SGS is a global provider of packaging graphic services to branded consumer products companies, retailers and the printers that service them. SGS was founded in 1946 and is based in Louisville, Kentucky.

Sell $813M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-04-08 CompuCom

Fort Mill, South Carolina, United States

CompuCom is a provider of end-to-end managed workplace services, infrastructure modernization, and digital consulting to enable the digital workplace for enterprise and mid-market organizations. CompuCom was founded in 1987 and is based in Fort Mill, South Carolina.

Sell $1.1B
Buyer

PennantPark

Investor Investor Investor Investor Investor


Category Lender
Founded 2007
PE ASSETS 10.0B 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 13 of 22
Sector: Marketing M&A 2 of 3
Type: Secondary Buyout M&A Deals 5 of 9
State: Arkansas M&A 1 of 1
Country: United States M&A 13 of 22
Year: 2012 M&A 5 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-12-01 Foundation Building Materials

Santa Ana, California, United States

Foundation Building Materials is a specialty building products distributor of gypsum wallboard, suspended ceiling systems, metal framing, insulation, and complementary products throughout North America. Foundation Building Materials was founded in 2011 and is based in Santa Ana, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-12-13 ECM Industries

New Berlin, Wisconsin, United States

ECM Industries is a manufacturer and supplier of electrical products for construction, maintenance, lighting, irrigation, landscape supply, and gas utility markets. ECM Industries is based in New Berlin, Wisconsin.

Buy $258M

Seller(S) 1

SELLER

Lake Capital

Chicago, Illinois, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1998
PE ASSETS 1.3B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Lake Capital is a private equity firm that targets a limited number of middle-market, service-based companies. The firm typically allocates $50 to $75 million equity to each portfolio company initiative. However, with seller financing, third-party debt, and co-investment opportunities, significant capital (in addition to the initial equity allocation) is available to each initiative. The service-based businesses the firm pursues include marketing services, finance-related services, specialty services, healthcare services, consumer services, technology services, business process outsourcing services, and marketing services. The firm is typically interested in buyout, partnership and start-up opportunities. Lake Capital was formed in 1998 and is based in Chicago, Illinois.


DEAL STATS #
Overall 17 of 24
Sector: Marketing M&A 4 of 6
Type: Secondary Buyout M&A Deals 6 of 9
State: Arkansas M&A 1 of 1
Country: United States M&A 17 of 23
Year: 2012 M&A 4 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-11-09 Hyper Marketing

Chicago, Illinois, United States

HHyper Marketing is an independent marketing-services network. With expertise in digital, direct, data, promotions, shopper marketing, Hispanic, and media buying and planning, HMI focuses on driving transactions by responding to changing consumer behavior in a hyper-connected world.

Sell $460M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-01-23 FishNet Consulting

Kansas City, Missouri, United States

FishNet Security, Inc. is an information network security solutions company. FishNet's services include consulting, audit, monitoring, account management, integration, support and training.

Sell -