Investment Summary

Exits Custom Food Products

On April 17, 2007, invested in food company Custom Food Products from First Atlantic Capital and Levine Leichtman Capital Partners

Investment Highlights
  • This is transaction in the Food sector.
  • This is transaction in the United States.
  • This is transaction in California.

Investment Summary
Date 2007-04-17
Target Custom Food Products
Sector Food
Sellers(s) First Atlantic Capital
Levine Leichtman Capital Partners
Deal Type Bankruptcy

Target

Custom Food Products

Carson, California, United States
Custom Food Products, Inc. currently doing business as Best Western Foods, Inc. formulates, processes, and markets value-added, cooked and pre-cooked meat products including a range of beef, chicken, pork, poultry, and turkey products. The Company sells its products to consumer product companies, packaged food manufacturers, chain restaurants, and national foodservice chains. It has production facilities in Los Angeles and Carson, California; and Owingsville, Kentucky. The Company was founded in 1946 and is based in Carson, California.

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Seller(S) 2

SELLER

First Atlantic Capital

New York, New York, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1989
PE ASSETS 1.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

First Atlantic Capital is a private equity firm that seeks investments in medium-sized US-based businesses valued between $100 and $500 million. Sectors of interest include business services, industrial and consumer goods, packaging, plastics, food processing, general manufacturing, and value-added distribution. First Atlantic typically targets control investment situations. The Firm has a particular interest in companies with strong expansion opportunities, either organic or through acquisitions, or companies with strong business foundations where a few operational improvements can substantially better financial performance. In addition to its private equity investing activity, First Atlantic manages First Atlantic Real Estate, a New York based real estate investment firm wholly owned by First Atlantic Capital. First Atlantic Capital was formed in 1989 and is based in New York City.

DEAL STATS #
Overall 6 of 13
Sector (Food) 2 of 3
Type (Bankruptcy) 1 of 2
State (California) 2 of 3
Country (United States) 6 of 13
Year (2007) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2006-11-06 Otis Spunkmeyer

San Leandro, California, United States

Otis Spunkmeyer, Inc is a manufacturer and distributor of frozen cookie dough, pre-baked muffins and other hand-held sweet baked goods for foodservice and retail customers.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-11-13 Sprint Industrial

Houston, Texas, United States

Sprint Industrial is a provider of specialized industrial rental equipment and services to blue-chip customers in the petrochemical, chemical, and downstream energy industries. Sprint’s product lines include temporary liquid and solid storage tanks for maintenance projects, as well as safety products such as gas detection and breathing air systems to protect workers and employees during maintenance jobs.

Buy -
SELLER

Levine Leichtman Capital Partners

Beverly Hills, California, United States

Investor Investor Investor Investor Investor

Category Mezzanine Finance Firm
Founded 1984
PE ASSETS 12.9B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Levine Leichtman Capital Partners (LLCP) is a West Coast US based private investment firm that targets mezzanine and other structured equity investments in middle-market companies. The Firm has several funds, each with different strategies. LLCP's larger fund targets subordinated debt, preferred equity, and/or common equity investments in companies with $100 to $750 million of revenue. The Firm's smaller fund invests $5 to $15 million in emerging companies with less than $25 million in revenue. LLCP also invests in financially distressed businesses. LLCP was formed in 1984 and has offices in Beverly Hills, California; Chicago, Illinois; Dallas, Texas; New York City; and London.

DEAL STATS #
Overall 7 of 56
Sector (Food) 2 of 2
Type (Bankruptcy) 2 of 3
State (California) 3 of 11
Country (United States) 7 of 51
Year (2007) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-01-18 Wetzel s Pretzels

Pasadena, California, United States

Wetzel's Pretzels is an owner and franchisor of soft pretzel stores. Wetzel's menu includes a variety of fresh-baked soft pretzels, Wetzel Dogs, Wetzel Bitz, and beverages. Today, Wetzel’s Pretzels has 305 locations in 28 states and six countries. Wetzel's stores are located in shopping malls, outlet centers, theme parks, select discount retail stores, train stations, and airports. Wetzel’s Pretzels was founded in 1994 and is headquartered in Pasadena, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-06-11 Werner

Itasca, Illinois, United States

WernerCo is a fully-integrated, international manufacturer and distributor of access products, fall protection equipment, secure storage systems and light duty construction equipment. Its portfolio of industry leading brands include Werner, KNAACK®, WEATHER GUARD®, Youngman®, BoSS®, Centaure, Duarib, Haemmerlin and Bailey. WernerCo is based in Itasca, Illinois.

Buy -
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