M&A Deal Summary

Gemini Investors and Sequel Holdings Acquire Chairmans Foods

On August 5, 2017, private equity firms Gemini Investors and Sequel Holdings acquired food company Chairmans Foods

Acquisition Highlights
  • This is Gemini Investors’ 4th and Sequel Holdings’ 4th transaction in the Food sector.
  • This is Gemini Investors’ 78th and Sequel Holdings’ 8th transaction in the United States.
  • This is Gemini Investors’ 3rd and Sequel Holdings’ 1st transaction in Tennessee.

M&A Deal Summary
Date 2017-08-05
Target Chairmans Foods
Sector Food
Buyer(s) Gemini Investors
Sequel Holdings
Deal Type Buyout (LBO, MBO, MBI)

Target

Chairmans Foods

Nashville, Tennessee, United States
Chairmans Foods is a manufacturer and custom solutions provider of fresh and frozen food products. The company's primary products include, refrigerated system kits, refrigerated branded pre-packaged chicken salad under the comfort cuisine label, kettle-cooked customized side dishes (macaroni and cheese, country corn, green beans, pepper gravy, cinnamon apples, etc.) delivered frozen to foodservice and other customers, and refrigerated sauces. Chairmans Foods was founded in 1999 and is based in Nashville, Tennessee.

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Buyer(S) 2

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 78 of 96
Sector (Food) 4 of 5
Type (Buyout (LBO, MBO, MBI)) 32 of 38
State (Tennessee) 3 of 3
Country (United States) 78 of 96
Year (2017) 4 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-08-01 Perma-Patch

Baltimore, Maryland, United States

Perma-Patch is manufactures packaged cold patch asphalt repair material, supplies municipalities, utilities, and commercial property owners with a quick-curing and easy-to-use solution to potholes and utility cuts. Perma-Patch was founded in 1929 and is based in Baltimore, Maryland.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-08-31 Coventor

Cary, North Carolina, United States

Coventor, Inc. is a provider of simulation and modeling solutions for semiconductor process technology, micro-electromechanical systems (MEMS), and the Internet of Things (IoT). Coventor was founded in 1996 and is based in Cary, North Carolina.

Sell -
Buyer

Sequel Holdings

Dallas, Texas, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2002
Size Small
Type Sector Agnostic
DESCRIPTION

Sequel Holdings LP is a private equity firm specializing in equity investments in profitable middle-market businesses. Sequel focuses primarily on companies in the food, beverage, agribusiness, plastics and other industrial sectors. Sequel Holdings was formed in 2002 and is based in Dallas, Texas.

DEAL STATS #
Overall 8 of 12
Sector (Food) 4 of 6
Type (Buyout (LBO, MBO, MBI)) 1 of 3
State (Tennessee) 1 of 1
Country (United States) 8 of 12
Year (2017) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-11-01 WL Plastics

Fort Worth, Texas, United States

WL Plastics, Inc. is a manufacturer of large-diameter polyethylene (“PE”) pipe for sale in the Rocky Mountains and throughout the western half of the United States. WL manufactures PE pipe from 1-24 inches in diameter but focuses its efforts on diameters of at least 4 inches. WL Plastics was founded in 2000 and is based in Fort Worth, Texas.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-12-21 Star Seed

Osborne, Kansas, United States

Star Seed is a producer, conditions and markets high-quality seeds to the agriculture industry. Star Seed, Inc. is a seed distributor focused on native grasses, wildflowers, forages, cover crops, wheat, and other small grains. Star Seed was founded in 1920 and is based in Osborne, Kansas.

Buy -
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