M&A Deal Summary

CVF Capital Partners Acquires Gary Platt

On December 12, 2019, mezzanine finance firm CVF Capital Partners acquired furniture company Gary Platt from Northstar Capital and PCM Companies

Acquisition Highlights
  • This is CVF Capital Partners’ 1st transaction in the Furniture sector.
  • This is CVF Capital Partners’ 25th transaction in the United States.
  • This is CVF Capital Partners’ 1st transaction in Nevada.

M&A Deal Summary

Date 2019-12-12
Target Gary Platt
Sector Furniture
Buyer(s) CVF Capital Partners
Sellers(s) Northstar Capital
PCM Companies
Deal Type Secondary Buyout
Advisor(s) Stout Risius Ross LLC (Financial)

Target

Gary Platt

Reno, Nevada, United States
Gary Platt is a designer, manufacturer, and marketer of specialty seating products sold primarily to the gaming industry. Gary Platt was founded in 1998 and is based in Reno, Nevada.

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Buyer(S) 1

Buyer

CVF Capital Partners

Davis, California, United States

Investor Investor Investor Investor Investor


Category Mezzanine Finance Firm
Founded 2005
Size Small
Type Sector Agnostic
DESCRIPTION

CVF Capital Partners is a private investment firm created to provide growth capital for small to mid-sized businesses located in the California Central Valley. CVF looks to commit $3 to $15 million of capital in the form of mezzanine debt to companies with revenues of 5 million, and at least $1 million of cash-flow. CVF funds are generally used to support business expansions, acquisitions, or to refinance. CVF was formed by the principals of Gael Partners. CVF Capital Partners was founded in 2005 and is based in Davis, California.


DEAL STATS #
Overall 25 of 29
Sector (Furniture) 1 of 1
Type (Secondary Buyout) 2 of 3
State (Nevada) 1 of 1
Country (United States) 25 of 29
Year (2019) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-11-20 Custom Power

Fountain Valley, California, United States

Custom Power is a manufacturer of highly customized as well as off-the-shelf energy solutions for portable and stationary products used in medical, defense, aerospace, industrial, and green energy markets. Custom Power was founded in 1965 and is based in Fountain Valley, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-01-28 Vista Recreation

Phoenix, Arizona, United States

Vista Recreation is a recreation and hospitality company. Vista Recreation was founded in 1989 and is based in Phoenix, Arizona.

Buy -

Seller(S) 2

SELLER

Northstar Capital

Minneapolis, Minnesota, United States

Investor Investor Investor Investor Investor


Category Mezzanine Finance Firm
Founded 1993
PE ASSETS 1.7B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Northstar Capital is a mezzanine finance firm that provides junior capital to middle-market companies operating in the value-added distribution, light manufacturing, business services, financial services, education, and specialty healthcare sectors. Northstar's typical investment size is $5 to $30 million in businesses generating sales of $20 to $300 million with an EBITDA of at least $3 million. Prospective companies have stable cash flows and sustainable margins. Investments typically have maturities of five to eight years. Northstar does not invest in start-ups, real estate development, natural resource exploration, or high technology companies. Northstar Capital was formed in 1993 and is based in Minneapolis, Minnesota.


DEAL STATS #
Overall 52 of 80
Sector (Furniture) 1 of 1
Type (Secondary Buyout) 18 of 26
State (Nevada) 1 of 1
Country (United States) 50 of 76
Year (2019) 6 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-12-12 JMH Premium

Salt Lake City, Utah, United States

JMH International LLC develops and manufactures a broad range of soup bases, sweet and savory flavor bases, stock concentrates, sauces, gravy mixes, dessert preparations, seasoning blends, powdered drink mixes, and dry complete meals. The Company, a leader in developing food flavoring systems, provides custom formulations and culinary solutions to the food industry, selling to customers in the foodservice, ingredient, specialty retail and co-manufacturing channels. JMH International was founded in 1982 and is based in Salt Lake City, Utah.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-02-04 LMG Holdings

Blue Ash, Ohio, United States

LMG Holdings is a provider of ignition interlock devices (IIDs) used to help prevent drunk driving. LMG operates three market-leading brands: LifeSafer, Monitech and Guardian, and serves clients and monitoring agencies in the U.S. and Canada through its network of more than 1,500 authorized service centers. LMG Holdings was founded in 1991 and is based in Blue Ash, Ohio.

Sell -
SELLER

PCM Companies

Mendota Heights, Minnesota, United States

Category Company
Founded 1998
Sector Business Services
DESCRIPTION

PCM Companies specializing in the acquisition of high-quality middle-market companies. PCM Companies was founded in 1998 and is based in Mendota Heights, Minnesota.


DEAL STATS #
Overall 1 of 1
Sector (Furniture) 1 of 1
Type (Secondary Buyout) 1 of 1
State (Nevada) 1 of 1
Country (United States) 1 of 1
Year (2019) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-03-20 Gary Platt

Reno, Nevada, United States

Gary Platt is a designer, manufacturer, and marketer of specialty seating products sold primarily to the gaming industry. Gary Platt was founded in 1998 and is based in Reno, Nevada.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-09-06 Suburban

Monticello, Minnesota, United States

Suburban is a diversified manufacturer of industrial equipment and textiles for the Fluid Power industry. The company opertaes three market-leading brands: Tsunami Compressed Air Solutions, LubeMinder Automatic Oil & Grease Systems, and Python Protective Sleeves + Covers. It serves customers including globally-recognized OEMs across the agriculture, construction, and industrial products markets. Suburban is based in Monticello, Minnesota.

Buy -