M&A Deal Summary

Gridiron Capital Acquires Jacent

On April 25, 2019, private equity firm Gridiron Capital acquired distribution company Jacent from Lariat Partners

Acquisition Highlights
  • This is Gridiron Capital’s 2nd transaction in the Distribution sector.
  • This is Gridiron Capital’s 27th transaction in the United States.
  • This is Gridiron Capital’s 1st transaction in Pennsylvania.

M&A Deal Summary
Date 2019-04-25
Target Jacent
Sector Distribution
Buyer(s) Gridiron Capital
Sellers(s) Lariat Partners
Deal Type Secondary Buyout

Target

Jacent

Huntingdon Valley, Pennsylvania, United States
Jacent is a distributor and merchandiser of non-edible, general merchandise impulse items to grocery and other retail channels. The company creates a strategic merchandising plan for each store and places the right impulse product in the right location within the store to drive enhanced customer experiences, sales and profitability. With its national direct store delivery (“DSD”) network and team members, Jacent reorders, restocks and merchandises each store to provide a customized, turn-key solution that drives incremental impulse sales for its blue-chip customers. Jacent is based in Huntingdon Valley, Pennsylvania.

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Buyer(S) 1

Buyer

Gridiron Capital

New Canaan, Connecticut, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2004
PE ASSETS 764M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Gridiron Capital is a private equity firm focused on acquiring mid-sized North American manufacturing, service and specialty consumer companies. Gridiron looks to commit companies with EBITDA up to $60 million. The Firm prefers controlling interests when considering transactions. Situations of interest include companies operating in sectors undergoing change, closely held companies owned by founding family or management for ownership transition, and corporate divestitures of orphaned or non-strategic business units. Gridiron Capital was formed in 2004 and is based in New Canaan, Connecticut.

DEAL STATS #
Overall 27 of 39
Sector (Distribution) 2 of 3
Type (Secondary Buyout) 8 of 14
State (Pennsylvania) 1 of 1
Country (United States) 27 of 39
Year (2019) 2 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-04-22 Foundation Wellness

Wadsworth, Ohio, United States

Foundation Wellness is a specialty designer and manufacturer of branded and private label orthotic solutions, including footbeds/insoles, foot care products, orthopedic braces, sports support, and ergonomic safety products. Foundation Wellness was founded in 1934 and is based in Wadsworth, Ohio.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-05-01 Health Monitor

Montvale, New Jersey, United States

Health Monitor is a direct-to-patient (DTP) company focused on providing high-quality patient education through digital, print, and mobile platforms to tens of millions of condition sufferers through 200,000+ medical offices and more than 400,000 healthcare professionals over its 35-year history. Health Monitor was formed in 1983 and is based in Montvale, New Jersey.

Buy -

Seller(S) 1

SELLER

Lariat Partners

Category Private Equity Firm
Founded 2013
Size Small
Type Sector Agnostic
DESCRIPTION

Lariat Partners is a lower middle-market private equity firm focused on buy-and-build investments of recurring revenue businesses. Target sectors include consumer products, energy and environmental services, food, healthcare services, marine services, safety, and specialty distribution. Prospective companies are generally profitable with $2 to $20 million of EBITDA. Lariat Partners was formed in 2013 and is based in Denver, Colorado.

DEAL STATS #
Overall 3 of 7
Sector (Distribution) 1 of 1
Type (Secondary Buyout) 3 of 4
State (Pennsylvania) 1 of 1
Country (United States) 3 of 7
Year (2019) 1 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-04-03 Subsea

Miami, Florida, United States

Subsea is a provider of underwater vessel maintenance, inspection and repair services to vessel owners and operators within diversified marine transportation and construction sectors. Subsea services include hull and propeller fleet management, underwater wet welding, seal replacement, tunnel thruster repair, azimuth thruster repair, and environmental hull cleaning. The Company provides both routine hull maintenance services to drive fuel efficiencies and highly technical repair solutions allowing vessel operators to reduce dry-docking costs, while keeping the vessel in service. Subsea is headquartered in Miami, Florida.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-05-01 Willowood USA

Roseburg, Oregon, United States

Willowood USA is an Oregon-based company that develops, formulates and markets generic crop protection products for the U.S. agriculture industry. Willowood USA is based in Roseburg, Oregon.

Sell -
Mergr

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