M&A Deal Summary

Follett Acquires Baker & Taylor

On April 18, 2016, Follett acquired retailer Baker & Taylor from Castle Harlan

Acquisition Highlights
  • This is Follett’s 3rd transaction in the Retail sector.
  • This is Follett’s 6th transaction in the United States.
  • This is Follett’s 1st transaction in North Carolina.

M&A Deal Summary

Date 2016-04-18
Target Baker & Taylor
Sector Retail
Buyer(s) Follett
Sellers(s) Castle Harlan
Deal Type Add-on Acquisition
Advisor(s) Sagent Advisors LLC (Financial)
Schulte Roth & Zabel (Legal)

Target

Baker & Taylor

Charlotte, North Carolina, United States
Baker & Taylor Corp. is a supplier of books, videos (DVDs/VHS) and music to both the institutional and retail markets. The institutional market consisted primarily of public libraries, school libraries (K-12) and academic (college and post graduate) libraries. Retail markets included national chains, online retailers, independent book, video and music stores and non-traditional book retailers.

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Buyer(S) 1

Buyer

Follett

Westchester, Illinois, United States

Category Company
Founded 1873
Sector Retail
DESCRIPTION
Follett's corporate headquarters in Westchester, Illinois.
Follett's corporate headquarters in Westchester, Illinois.

Follett is a retailer and provider of educational materials and technology solutions to PreK-12 libraries, classrooms, learning centers and school districts in the United States, and a major supplier to educational institutions worldwide. Follett was formed in 1873 and is based in Westchester, Illinois.


DEAL STATS #
Overall 6 of 9
Sector (Retail) 3 of 3
Type (Add-on Acquisition) 6 of 9
State (North Carolina) 1 of 1
Country (United States) 6 of 9
Year (2016) 3 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-03-30 Wobo

Martinez, California, United States

Wobo, Inc. is an online vendor of books, cds and dvds. Selling through various online marketplaces.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-11-17 ValoreBooks

Boston, Massachusetts, United States

Valore, Inc. is a marketplace solution for students and bookstores to buy, sell and rent college textbooks online. Valore, Inc. was founded in 2005 and is based in Boston, Massachusetts.

Buy -

Seller(S) 1

SELLER

Castle Harlan

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1987
PE ASSETS 6.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Castle Harlan is a large private equity firm that targets private company investments in the US and Australia. Castle Harlan targets businesses in a wide range of industries that include, packaging, industrial services, manufacturing, restaurants, business services, distribution, publishing, and transportation. Castle Harlan can provide both equity and mezzanine capital. The Firm is affiliated with Australian private equity firm CHAMP Private Equity, and together formed CHAMP - Castle Harlan Australian Mezzanine Partners. Castle Harlan was formed in 1987 and is based in New York City.


DEAL STATS #
Overall 34 of 38
Sector (Retail) 1 of 1
Type (Add-on Acquisition) 16 of 17
State (North Carolina) 2 of 2
Country (United States) 27 of 30
Year (2016) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-11-11 Horizon Lines

Charlotte, North Carolina, United States

Horizon Lines, Inc. is a container transportation shipping company, accounting for over 35% of all U.S. marine container shipments from the U.S. mainland to Alaska, Hawaii / Guam and Puerto Rico.

Sell $469M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-04-17 Titan Production Equipment

The Woodlands, Texas, United States

Titan Production Equipment is a designer and fabricator of oil and gas production equipment. The Company’s products are used by oil and gas operators to separate, process and treat hydrocarbon streams at the wellhead, gathering and processing stages. Titan offers deep engineering expertise and has capacity to manufacture at high volumes in an ASME-certified facility that produces both pre-designed and custom separators, heater treaters, glycol dehydration units, as well as a wide range of other production equipment products. Titan's extensive portfolio of production equipment designs and drawings are considered the industry standard and have been developed internally over a long history, which dates as far back as 1927, and includes the legacies of Smith Industries, Hanover-Smith and Exterran.

Buy -