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M&A Deal Summary

Graham Partners and Barings Private Equity Acquire Woodland Gourmet

On December 1, 2021, private equity firms Graham Partners and Barings Private Equity acquired food company Woodland Gourmet

Acquisition Highlights
  • This is Graham Partners’ 4th and Barings Private Equity’s 3rd transaction in the Food sector.
  • This is Graham Partners’ 46th and Barings Private Equity’s 42nd transaction in the United States.
  • This is Graham Partners’ 2nd and Barings Private Equity’s 2nd transaction in Illinois.

M&A Deal Summary
Date 2021-12-01
Target Woodland Gourmet
Sector Food
Buyer(s) Graham Partners
Barings Private Equity
Deal Type Buyout (LBO, MBO, MBI)
Advisor(s) Lincoln International (Financial)
Vedder Price (Legal)

Target

Woodland Gourmet

Waukegan, Illinois, United States
Woodland Gourmet provides custom culinary solutions, deeply rooted in global flavor knowledge and exploration of specialty and dry ingredients. With a passion for innovation, partnership with customers to craft custom solutions, responsible ingredient sourcing, and operational excellence, it cultivates lasting partnerships through collaborative efforts that cater to the diverse needs of its food service, industrial, and retail customers. Woodland Foods was founded in 1989 and is based in Waukegan, Illinois.

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Buyer(S) 2

Buyer

Graham Partners

Newtown Square, Pennsylvania, United States

Investor Investor Investor Investor

Category Private Equity Firm
Founded 1988
PE ASSETS 5.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Graham Partners is a private equity that targets middle market industrial and manufacturing companies. The Firm seeks to invest in businesses based in the US and also consider investments in Canada and Western Europe. Graham Partners focuses on strong growth potential companies with high return on invested capital, led by experienced management teams in revenues between $30 - $500 million and EBITDA between $10 million and $50 million. The firm typically invests between $10 million and $100 million in equity and the balance via debt and can invest higher than $100 million through co-investments. Broad areas of interest include building products, water management, medical products, consumer products, packaged food & beverage, packaging, aerospace/defense, agriculture, capital equipment, energy related products, home and outdoor, sports and leisure, and transportation services. Prospective transaction types include MBOs, recapitalization and growth capital financing. Graham Partners is an affiliate of The Graham Group was formed in 1988 and is based in Newton Square, Pennsylvania.

DEAL STATS #
Overall 49 of 57
Sector (Food) 4 of 5
Type (Buyout (LBO, MBO, MBI)) 26 of 30
State (Illinois) 2 of 2
Country (United States) 46 of 50
Year (2021) 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-11-30 Medbio

Grand Rapids, Michigan, United States

Medbio is an outsource manufacturer specializing in clean room injection molding of plastic components for medical and biotechnology devices, as well as mold tooling, device assembly, and packaging. The company manufactures single use, disposable products for high growth end markets and is differentiated by its ability to serve as a one-stop-shop for outsourced manufacturing. Medbio’s niche position has resulted in longstanding customer relationships in an industry that is benefiting from multiple conversion tailwinds and attractive macro healthcare trends. Medbio was founded in 2007 and is based in Grand Rapids, Michigan.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-12-02 HB&G

Troy, Alabama, United States

HB&G is a designer and manufacturer of synthetic and wood specialty millwork, consisting primarily of exterior and interior columns, as well as exterior posts, railings, and ceilings for porch and deck applications. HB&G was founded in 1880 and is based in Troy, Michigan.

Sell -
Buyer

Barings Private Equity

Category Private Equity Firm
Founded 1991
PE ASSETS 5.7B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Barings Private Equity is the private equity arm of global asset management firm Barings. The Group looks to invest in mezzanine, distressed, and other private equity transactions including secondaries and funds. Sectors of interest include manufacturing, business services, distribution, consumer products, consumer services, food products, packaging, and healthcare. Barings Private Equity was originally established in 1991 and is based in Charlotte, North Carolina.

DEAL STATS #
Overall 46 of 55
Sector (Food) 3 of 3
Type (Buyout (LBO, MBO, MBI)) 18 of 20
State (Illinois) 2 of 3
Country (United States) 42 of 49
Year (2021) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-11-22 Renovation Brands

Florence, Alabama, United States

Renovation Brands is a distributor and retailer of electric fireplaces, electric heating appliances, customized fireplace mantels, and outdoor heating products. Renovation Brands was founded in 2002 and is based in Florence, Alabama.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-12-30 America s Auto Auction

Dallas, Texas, United States

America's Auto Auction is a wholesale automobile auction company offering a full spectrum of remarketing services for both buyers and sellers of used vehicles. America's Auto Auction was formed in 2005 and is based in Dallas, Texas.

Sell -
Mergr

Product

Company

Legal