M&A Deal Summary

EQT Acquires WASH

On April 13, 2015, private equity firm EQT acquired consumer services company WASH from CHS Capital and New Harbor Capital

Acquisition Highlights
  • This is EQT’s 3rd transaction in the Consumer Services sector.
  • This is EQT’s 9th transaction in the United States.
  • This is EQT’s 1st transaction in California.

M&A Deal Summary
Date 2015-04-13
Target WASH
Sector Consumer Services
Buyer(s) EQT
Sellers(s) CHS Capital
New Harbor Capital
Deal Type Secondary Buyout
Advisor(s) Moelis & Co.
William Blair (Financial)
Kirkland & Ellis (Legal)

Target

WASH

Torrance, California, United States
WASH is a provider of route-based laundry services to multifamily apartments and universities. The Company operates an infrastructure network across 34 branches, with approximately 635,000 installed machines and 82,000 customer locations. WASH was founded in 1947 and is based in Torrance, California.

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Buyer(S) 1

Buyer

EQT

Stockholm, Sweden

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1994
PE ASSETS 242.0B EUR
Size Mega
Type Sector Agnostic
DESCRIPTION

EQT is a global private equity group that purses a variety of investment strategies around the world. EQT is divided into several investment disciplines, including private capital, real assets, credit, and venture. The Firm's private capital group targets large, market-leading enterprises (investment size of €125 to €1.5 billion) across Europe and the US, as well as mid-market, growth companies (investment size of €40 to €125 million) across the US, Europe, China, and Southeast Asia. The Firm's real assets group seeks to identify control or co-control equity investments (investment size of €500 to €1 billion) in medium-sized infrastructure companies that provide an essential service to society, are recession resilient, and have secure cash flows. EQT's credit group provides flexible, long-term debt capital solutions to medium-sized European businesses, across a wide range of sectors. EQT was established in 1994 and is headquartered in Stockholm, Sweden.

DEAL STATS #
Overall 131 of 317
Sector (Consumer Services) 3 of 8
Type (Secondary Buyout) 28 of 97
State (California) 1 of 11
Country (United States) 9 of 59
Year (2015) 3 of 12
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-04-01 LBX Pharmacy

Changsha, China

LBX Pharmacy is an entity that operates a pharmacy store chain in China. LBX Pharmacy operates stores in 21 provincial markets. LBX Pharmacy was founded in 2001 and is based in Changsha, China.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-04-30 Restaurant Technologies

Mendota Heights, Minnesota, United States

Restaurant Technologies is a foodservice industry partner, proudly serving more than 32,000 quick-service and full-service restaurant chains, independent restaurants, grocery delis, hotels, casinos, universities, and hospitals nationwide. The company helps make foodservice operations safer, smarter, and more efficient through cooking oil and hood and flue management solutions. It has a long history of sustainability, working with partners to provide used cooking oil as input into renewable diesel and biodiesel, creating an ESG-friendly process of recycled used cooking oil for its customers. Restaurant Technologies was formed in 1996 and is based in

Sell -

Seller(S) 2

SELLER

CHS Capital

Chicago, Illinois, United States
Category Private Equity Firm
Founded 1988
PE ASSETS 2.9B USD
Size Large
Type Sector Agnostic
DESCRIPTION

CHS Capital is a large private equity firm that targets US-based company investments in a variety of sectors. CHS will consider both control and non-control positions in businesses with proven management and strong growth potential. Broad sectors of interest include business services, consumer services, consumer products, distribution, industrial products and infrastructure. The Firm looks for businesses valued from $75 to $300 million. CHS will not invest in venture opportunities or turnaround situations. CHS was formed in 1988 and is based in Chicago, Illinois.

DEAL STATS #
Overall 43 of 46
Sector (Consumer Services) 2 of 2
Type (Secondary Buyout) 18 of 21
State (California) 4 of 4
Country (United States) 43 of 46
Year (2015) 2 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-02-03 EAB

Washington, District of Columbia, United States

EAB is a provider of best practices research, student success management software and data-enabled enrollment solutions to the not-for-profit higher education and K-12 markets. The Company’s solutions help institutions increase enrollment yield, balance financial aid with revenue generation, drive higher student retention and success, and implement industry best practices derived from benchmarking and research. EAB was founded in 1983 and is based in Washington, Washington DC.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-04-27 Woodstream

Lancaster, Pennsylvania, United States

Woodstream is a manufacturer and marketer of a broad portfolio of branded pest control and lawn & garden products, under brands such as Victor, Terro, Perky-Pet, Havahart, Safer, Sweeney’s and Mosquito Magnet, among others. Woodstream was founded in 1832 and is based in Lancaster, Pennsylvania.

Sell -
SELLER

New Harbor Capital

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2013
PE ASSETS 500M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

New Harbor Capital is a lower middle-market private equity firm focused on investing in and acquiring profitable, growth-oriented companies. New Harbor seeks opportunities in the healthcare services, education, and business services sectors and looks to invest $10 to $40 million per transaction. The Firm prefers control investment situations and typically looks to fund growth capital financings, management buyouts, and recapitalizations. New Harbor Capital was established in 2013 and is headquartered in Chicago, Illinois.

DEAL STATS #
Overall 3 of 10
Sector (Consumer Services) 1 of 1
Type (Secondary Buyout) 1 of 4
State (California) 1 of 2
Country (United States) 3 of 10
Year (2015) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-02-03 EAB

Washington, District of Columbia, United States

EAB is a provider of best practices research, student success management software and data-enabled enrollment solutions to the not-for-profit higher education and K-12 markets. The Company’s solutions help institutions increase enrollment yield, balance financial aid with revenue generation, drive higher student retention and success, and implement industry best practices derived from benchmarking and research. EAB was founded in 1983 and is based in Washington, Washington DC.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-06-18 NY Kids Club

New York, New York, United States

NY Kids Club is a provider of early childhood enrichment, preschool, camps, parties, and events. NY Kids Club was founded in 2001 and is based in New York.

Buy -
Mergr

Product

Company

Legal