M&A Deal Summary

Freudenberg & Co KG Acquires Protect Plus Industries

On September 22, 2021, Freudenberg & Co KG acquired consumer products company Protect Plus Industries from HKW

Acquisition Highlights
  • This is Freudenberg & Co KG’s 3rd transaction in the Consumer Products sector.
  • This is Freudenberg & Co KG’s 1st transaction in the United States.
  • This is Freudenberg & Co KG’s 1st transaction in North Carolina.

M&A Deal Summary

Date 2021-09-22
Target Protect Plus Industries
Sector Consumer Products
Buyer(s) Freudenberg & Co KG
Sellers(s) HKW
Deal Type Add-on Acquisition

Target

Protect Plus Industries

Hickory, North Carolina, United States
Protect Plus Industries is a manufacturer and distributor of retail air filters and related products for home HVAC systems. Protect Plus Industries was founded in 2003 and is based in Hickory, North Carolina.

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Buyer(S) 1

Buyer

Freudenberg & Co KG

Weinheim, Germany

Category Company
Founded 1849
Sector Business Services
DESCRIPTION

Freudenberg offers tailor-made, innovative technological products and services to customers in the automotive, mechanical and plant engineering, textile and clothing, construction, mining and heavy industry, energy, chemical, oil and gas sectors. The Group’s customers also include companies in the medical technology, civil aviation, rail vehicles and semiconductor sectors.


DEAL STATS #
Overall 9 of 10
Sector (Consumer Products) 3 of 3
Type (Add-on Acquisition) 8 of 9
State (North Carolina) 1 of 1
Country (United States) 1 of 2
Year (2021) 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-04-27 Deurowood

Hard, Austria

Deurowood is a chemical company. Deurowood product portfolio comprises mainly of additives and hardeners regularly used in the production of decorative furniture surfaces and laminate flooring. Deurowood was founded in 2003 and is based in Hard, Austria.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-12-01 BestAir

Hampshire, Illinois, United States

BestAir is a designer and manufacturer of air filters utilized in furnaces and humidifiers for the retail, OEM, and commercial building industries. BestAir was founded in 1969 and is based in Hampshire, Illinois.

Buy -

Seller(S) 1

SELLER

HKW

Indianapolis, Indiana, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1903
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Hammond Kennedy Whitney & Company (HKW) is a private equity firm focused on making control investments in mid-sized, 'market leading' companies generating sales of $5 to $75 million. HKW looks for companies with low risk for technological obsolescence, defined growth strategies, and talented management who want to own equity. Target transaction situations include industry consolidations, corporate divestitures, generational changes in ownership, growth equity, management buy-outs and recapitalizations. HKW prefers North American based opportunities. HKW dates back to 1903, however the Firm transitioned from sole to institutional investors in 2001. The Firm has offices in Indianapolis and New York City.


DEAL STATS #
Overall 35 of 38
Sector (Consumer Products) 2 of 2
Type (Add-on Acquisition) 18 of 19
State (North Carolina) 2 of 2
Country (United States) 30 of 30
Year (2021) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-08-11 Fresh Direct Produce

Vancouver, British Columbia, Canada

Fresh Direct Produce is a distributor of fresh, ethnic, tropical, organic, and specialty produce. Fresh Direct Produce distributes 1,000+ fruit and vegetable items to the Western Canadian market. Fresh Direct Produce was founded in 2003 and is based in Vancouver, British Columbia.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-01-01 Golden Country

Chicago, Illinois, United States

Golden Country supplies a large inventory of Asian, Oriental, African, European and Caribbean foods, spices, and more to grocery stores all over the U.S. Golden Country is one of the largest Asian, African, Caribbean and Oriental wholesale food importers and distributors in the United States. Golden Country is based in Chicago, Illinois.

Buy -