M&A Deal Summary

Firelight Capital Partners, True West Capital Partners and Gemini Investors Acquire Fromm International

On January 3, 2024, private equity firms Firelight Capital Partners, True West Capital Partners and Gemini Investors acquired consumer products company Fromm International

Acquisition Highlights
  • This is Firelight Capital Partners’ 3rd, True West Capital Partners’ 3rd and Gemini Investors’ 5th transaction in the Consumer Products sector.
  • This is Firelight Capital Partners’ 3rd, True West Capital Partners’ 19th and Gemini Investors’ 122nd transaction in the United States.
  • This is Firelight Capital Partners’ 1st, True West Capital Partners’ 1st and Gemini Investors’ 7th transaction in Illinois.

M&A Deal Summary

Date 2024-01-03
Target Fromm International
Sector Consumer Products
Buyer(s) Firelight Capital Partners
True West Capital Partners
Gemini Investors
Deal Type Buyout (LBO, MBO, MBI)

Target

Fromm International

Mount Prospect, Illinois, United States
Fromm International is a manufacturer and distributor of shears, salon apparel, hair accessories, brushes, combs, foil, gloves and towels used by both professionals and consumers. Company-owned brands include Fromm Pro, The Hair Edit, and Diane. Fromm International was founded in 1907 and is based in Mount Prospect, Illinois.

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Buyer(S) 3

DESCRIPTION

Firelight Capital Partners is a private equity firm focused on high-growth, North American-based consumer and retail companies. Specific areas of interest include apparel/footwear/accessories, health & wellness, pet, beauty/personal care, and food/beverage. The Firm will consider majority or minority positions and targets investments of $10 to $25 million in companies with up to $100 million in revenues. Firelight Capital Partners was formed in 2016 and is based in Fort Lauderdale, Florida.


DEAL STATS #
Overall 3 of 3
Sector: Consumer Products M&A 3 of 3
Type: Buyout (LBO, MBO, MBI) M&A Deals 1 of 1
State: Illinois M&A 1 of 1
Country: United States M&A 3 of 3
Year: 2024 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-11-05 Hobo

Annapolis, Maryland, United States

Hobo is a designer and manufacturer of branded craft leather bags, leather accessories. The company products include handbags, wallets, jackets, office bags and travel bags. Hobo was founded in 1991 and is based in Annapolis, Maryland.

Buy -
DESCRIPTION

True West Capital Partners is a private investment firm focused on lower middle-market company investments in the Western US. The Firm looks to commit $5 to $25 million into profitable businesses to support acquisitions, growth initiatives, buyouts, recapitalizations, and refinancings. True West does not have any sector preferences, but does avoid real estate, startups and project financings. True West Capital Partners was formed in 2009 and is headquartered in Los Angeles, California.


DEAL STATS #
Overall 19 of 21
Sector: Consumer Products M&A 3 of 3
Type: Buyout (LBO, MBO, MBI) M&A Deals 6 of 6
State: Illinois M&A 1 of 1
Country: United States M&A 19 of 21
Year: 2024 M&A 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-10-12 Marine Floats

Tacoma, Washington, United States

Marine Floats is a specialty marine contractor providing environmental and regulatory advisory services, marina and floating dock design, construction and installation services, for commercial and residential customers in the Pacific Northwest. Marine Floats was founded in 1976 and is based in Tacoma, Washington.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-01-17 Canvas

Huntsville, Alabama, United States

Canvas provides a mixture of engineering and technical services along with lifecycle management and programmatic services to various defense and intelligence community organizations. Canvas specializes in supporting the Department of Defense and other government agencies in the areas of Systems Engineering and Integration, Software Engineering, Cybersecurity and Intelligence, Test and Evaluation, Safety and Facilities Engineering, Technology and Product Development, Acquisition Management, and Business and Program Management. Canvas was founded in 2007 and is based in Huntsville, Alabama.

Buy -
Buyer

Gemini Investors

Wellesley, Massachusetts, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1993
PE ASSETS 700M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Gemini Investors is a middle-market private equity firm that targets investments in growing and established businesses. Areas of interest include technology, business services, consumer services, healthcare, education, manufacturing and distribution. Gemini looks for companies with $5 to $50 million in annual revenue and typically makes investments of $3 to $8 million in the form of preferred stock and/or subordinated debt. Prospective transaction types include growth capital, recapitalization and buyout situations. Gemini Investors was formed in 1993 and is based in Wellesley, Massachusetts.


DEAL STATS #
Overall 122 of 129
Sector: Consumer Products M&A 5 of 5
Type: Buyout (LBO, MBO, MBI) M&A Deals 50 of 54
State: Illinois M&A 7 of 8
Country: United States M&A 122 of 129
Year: 2024 M&A 1 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-11-01 Hiatus

Dallas, Texas, United States

Hiatus is a luxury wellness brand offering a full range of spa and medical aesthetic services, including massages, facials, body treatments, injectables, and advanced skin therapies. With multiple locations, the company combines holistic relaxation with results-driven treatments in a modern, eco-conscious setting. Hiatus is based in Dallas, Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-01-17 Canvas

Huntsville, Alabama, United States

Canvas provides a mixture of engineering and technical services along with lifecycle management and programmatic services to various defense and intelligence community organizations. Canvas specializes in supporting the Department of Defense and other government agencies in the areas of Systems Engineering and Integration, Software Engineering, Cybersecurity and Intelligence, Test and Evaluation, Safety and Facilities Engineering, Technology and Product Development, Acquisition Management, and Business and Program Management. Canvas was founded in 2007 and is based in Huntsville, Alabama.

Buy -