M&A Deal Summary

Glencoe Capital, W Capital Partners and Harvey & Company Acquire Moosejaw

On December 14, 2009, private equity firm Glencoe Capital, secondary investor W Capital Partners and merchant bank Harvey & Company acquired retailer Moosejaw from Parallel Investment Partners

Acquisition Highlights
  • This is Glencoe Capital’s 1st, W Capital Partners’ 1st and Harvey & Company’s 2nd transaction in the Retail sector.
  • This is Glencoe Capital’s 15th, W Capital Partners’ 7th and Harvey & Company’s 16th transaction in the United States.
  • This is Glencoe Capital’s 3rd, W Capital Partners’ 1st and Harvey & Company’s 1st transaction in Michigan.
Investment Fate
  • Moosejaw was sold to a publicly-traded strategic buyer in 2017 for 51M USD.
  • Moosejaw was divested to a consortium of strategic buyers in 2023.

M&A Deal Summary

Date 2009-12-14
Target Moosejaw
Sector Retail
Buyer(s) Glencoe Capital
W Capital Partners
Harvey & Company
Sellers(s) Parallel Investment Partners
Deal Type Recapitalization
Advisor(s) Arlington Capital Advisors
North Point Advisors (Financial)

Target

Moosejaw

Madison Heights, Michigan, United States
Moosejaw is a multi-channel retailer of premium quality outdoor apparel and equipment. Moosejaw was founded in 1992 and is based in Madison Heights, United States.

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Buyer(S) 3

Buyer

Glencoe Capital

Manchester, New Hampshire, United States

Investor Investor


Category Private Equity Firm
Founded 1994
PE ASSETS 1.4B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Glencoe Capital is a private equity firm that invests in leveraged buyouts and recapitalizations of middle-market companies. Glencoe consists of Glencoe Capital Partners Funds which seeks North American businesses valued between $25 million and $125 million, and the Michigan Opportunities Fund which looks to invest in recapitalizations, buyouts, and growth equity transactions in Michigan. Sectors of interest include business and media services, financial services, food and consumer products, and industrials. Glencoe prefers platform companies to have at least $30 million of sales and EBITDA of at least $3 million. Glencoe Capital was formed in 1994 and is a unit of Leoville Holdings, an alternative investment manager. Glencoe Capital is based in Chicago with an additional office in Birmingham, Michigan.


DEAL STATS #
Overall 18 of 28
Sector: Retail M&A 1 of 1
Type: Recapitalization M&A Deals 2 of 2
State: Michigan M&A 3 of 9
Country: United States M&A 15 of 25
Year: 2009 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2008-02-01 ACE Bakery

Mississauga, Ontario, Canada

ACE Bakery Ltd. is a specialty bread-maker that develops and markets a range of premium artisan breads under its own brand, relying on strict, traditional recipes and fresh, all-natural ingredients of the highest quality.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2010-02-12 Flatout

Saline, Michigan, United States

Flatout, Inc. produces and sells flatbread and other related products to retail groceries, mass market and club stores, and other markets. The company sells its products under the Flatout name, which enjoys brand recognition among weight-conscious and health-minded consumers. Its products, which come in a variety of regular and light flavors, provide a healthy alternative to traditional breads and are applicable to a variety of culinary uses.

Buy -
Buyer

W Capital Partners

Investor Investor Investor Investor Investor


Category Secondary Investor
Founded 2001
PE ASSETS 3.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

W Capital Partners is a private investment group focused on direct secondary investments. W Capital Partners has a particular interest in growth equity secondary investments as well as buyout minority secondary investments, where existing shareholders are looking for liquidity. W Capital Partners was founded in 2001 and is based in New York, New York.


DEAL STATS #
Overall 7 of 23
Sector: Retail M&A 1 of 1
Type: Recapitalization M&A Deals 1 of 3
State: Michigan M&A 1 of 1
Country: United States M&A 7 of 22
Year: 2009 M&A 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2009-11-01 Ancestry

Lehi, Utah, United States

Ancestry is a provider of family history and consumer genomics information, and helps people gain a new level of understanding about their lives. The Company's suite of history products include Archives, Fold3, Newspapers.com, AncestryDNA, and Ancestry Health. Ancestry was founded in 1990 and is based in Lehi, Utah.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-07-11 Dynacast

Charlotte, North Carolina, United States

Dynacast is a provider of precision die cast components for a wide variety of industries including healthcare, consumer electronics, computers and peripherals, and automotive, among others.

Buy -
DESCRIPTION

Harvey & Company is a principal investment and advisory group. The Firm works with companies and private equity firms on acquisition searches as well as makes investments of its own. Harvey & Company was established in 1998 and is headquartered in Newport Beach, California.


DEAL STATS #
Overall 18 of 72
Sector: Retail M&A 2 of 6
Type: Recapitalization M&A Deals 7 of 24
State: Michigan M&A 1 of 1
Country: United States M&A 16 of 67
Year: 2009 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2009-12-11 Solstas Lab Partners

Greensboro, North Carolina, United States

Solstas Lab Partners LLC (Fomerly Spectrum Laboratory Network) is a leading regional provider of clinical laboratory and disease screening services. The Company is headquartered in Greensboro, North Carolina, and covers the Southeastern U.S., providing hospital quality testing to over 10,000 physicians, 11 hospitals, nursing homes, home health, clinics, urgent care facilities, and other businesses and industries.

Sell $230M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2010-06-01 The Fragrance Outlet

Miramar, Florida, United States

The Fragrance Outlet, Inc. is a specialty retailer of brand name fragrances, cosmetics, and related products. The Fragrance Outlet was founded in 1990 and is based in Miramar, Florida.

Buy -

Seller(S) 1

SELLER

Parallel Investment Partners

Dallas, Texas, United States

Category Private Equity Firm
Founded 1999
PE ASSETS 600M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Parallel Investment Partners is a private equity firm focused on acquiring North American middle market companies. Parallel looks for companies generating at least $10 million in revenue and valued between $10 and $100 million. Sectors of interest include business services, financial services, energy exploration, energy services, healthcare services, medical products, restaurants, retail, education, engineered products, and light manufacturing. Prospective transaction situations include recapitalizations, growth capital financings, buyouts, and divestitures. Parallel Investment Partners was formed in 1999 and is based in Dallas Texas.


DEAL STATS #
Overall 14 of 19
Sector: Retail M&A 6 of 8
Type: Recapitalization M&A Deals 2 of 3
State: Michigan M&A 1 of 1
Country: United States M&A 14 of 19
Year: 2009 M&A 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2009-08-12 Weisman Discount Home Centers

Springfield Gardens, New York, United States

Weisman Discount Home Centers is a specialty home improvement retailer located in densely populated areas of New York City. Weisman currently operates eight retail locations and sells approximately 50% of its products to contractors, 30% to do-it-yourself customers and 20% to corporate (realty and building management companies). The company's largest categories of products sold include flooring, cabinets, countertops and vanities.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2010-06-01 The Fragrance Outlet

Miramar, Florida, United States

The Fragrance Outlet, Inc. is a specialty retailer of brand name fragrances, cosmetics, and related products. The Fragrance Outlet was founded in 1990 and is based in Miramar, Florida.

Buy -