M&A Deal Summary

H.I.G. Private Equity Acquires Family Entertainment Group

On July 21, 2022, private equity firm H.I.G. Private Equity acquired leisure company Family Entertainment Group from Balance Point Capital Partners and TZP Group

Acquisition Highlights
  • This is H.I.G. Private Equity’s 4th transaction in the Leisure sector.
  • This is H.I.G. Private Equity’s 213th transaction in the United States.
  • This is H.I.G. Private Equity’s 14th transaction in Illinois.

M&A Deal Summary

Date 2022-07-21
Target Family Entertainment Group
Sector Leisure
Buyer(s) H.I.G. Private Equity
Sellers(s) Balance Point Capital Partners
TZP Group
Deal Type Secondary Buyout

Target

Family Entertainment Group

Itasca, Illinois, United States
Family Entertainment Group is a designer, developer, and operator of amusement centers. FEG has partnerships with family-oriented resorts to provide turnkey outsourced solutions for amusement operations ranging from initial design and layout to day-to-day site management and operations. Family Entertainment Group was founded in 2004 and is based in Itasca, Illinois.

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Buyer(S) 1

Buyer

H.I.G. Private Equity

Miami, Florida, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1993
PE ASSETS 65.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

HIG Private Equity is the private equity arm of HIG Capital LLC. The firm focuses on management buyouts, growth equity investments, and recapitalizations of middle market companies with an enterprise value of $50 - $1000 million. The Firm also will consider add-on acquisitions, industry consolidations, going-privates, and corporate divestitures. Sectors of interest include aerospace, building materials, business services, consumer products, distribution, healthcare, infrastructure, contracting, manufacturing, media, oil & gas services, IT, and transportation. HIG was formed in 1993 and has offices in Miami, Atlanta, Boston, and San Francisco. HIG's European affiliate is HIG Europe with offices in London, Hamburg, and Paris.


DEAL STATS #
Overall 322 of 369
Sector (Leisure) 4 of 4
Type (Secondary Buyout) 51 of 68
State (Illinois) 14 of 18
Country (United States) 213 of 245
Year (2022) 14 of 23
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-07-19 Fidelity

Brooklyn, New York, United States

Fidelity is a provider of tech-enabled payment processing solutions to small- and medium-sized businesses (“SMBs”) across the U.S. and Canada. Fidelity utilizes a tailored, merchant-centric approach that provides customers with industry-leading support and service while Fidelity’s technology and interchange optimization expertise enable more consistent, and in most cases lower, overall processing costs. Fidelity was founded in 1996 and is based in Brooklyn, New York.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-07-26 Watchfire

Danville, Illinois, United States

Watchfire is a manufacturer of highly engineered, LED outdoor digital display products serving over 1,000 sign companies and over 300 local, regional and national outdoor advertising operators. Watchfire was founded in 1932 and is based in Danville, Illinois.

Buy -

Seller(S) 2

SELLER

Balance Point Capital Partners

Westport, Connecticut, United States

Investor Investor Investor Investor Investor


Category Mezzanine Finance Firm
Founded 2007
PE ASSETS 1.7B USD
Size Small
Type Sector Agnostic
DESCRIPTION

Balance Point Capital Advisors is a provider of equity and debt capital to middle-market US-based companies. The Firm looks to invest $5 to $30 million in companies generating $10 $150 million in revenue. The Firm invest in the range of $15 to $75 million with and enterprise value of $10 to $150 million. Funds are used to support a variety of needs, including private equity sponsored buyouts, strategic acquisitions, refinancing's, management buyouts, leveraged recapitalizations, and growth capital financing needs. Balance Point Capital is based in Westport, Connecticut.


DEAL STATS #
Overall 15 of 16
Sector (Leisure) 1 of 1
Type (Secondary Buyout) 7 of 7
State (Illinois) 1 of 1
Country (United States) 15 of 16
Year (2022) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-07-13 The Stable

Minneapolis, Minnesota, United States

The Stable is a fully integrated consumer brand agency helping businesses activate across all channels of commerce. The Stable was formed in 2015 and is based in Minneapolis, Minnesota.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-10-31 CraneTech

Stockton, California, United States

CraneTech is a provider of overhead crane inspection, maintenance, and manufacturing services across the U.S. CraneTech serves a variety of customers and end markets, including the manufacturing, aerospace & defense, automotive and metals industries, among others. CraneTech was founded in 2004 and is based in Stockton, California.

Buy -
SELLER

TZP Group

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2007
PE ASSETS 1.6B USD
Size Large
Type Sector Agnostic
DESCRIPTION

TZP Group is a private equity firm focused on the business and consumer services sectors. Specific areas of interest include franchising, outsourced business, and IT services, marketing and media services, travel content and distribution, real estate services, specialty finance, and consumer health services. TZP looks to invest $10 to $130 million in for minority or minority positions in profitable companies with at least $10 million in revenue. TZP Group was formed in 2007 and is based in New York City.


DEAL STATS #
Overall 16 of 16
Sector (Leisure) 1 of 1
Type (Secondary Buyout) 7 of 7
State (Illinois) 2 of 2
Country (United States) 15 of 15
Year (2022) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-07-21 LAC Group

Los Angeles, California, United States

LAC Group is a provider of outsourced knowledge management, information, library, and research services to market-cap leading customers across multiple industries, including media, legal, energy, aerospace & defense, academia, and federal government agencies. LAC Group was established in 1986 and is based in Los Angeles, California.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-11-21 Soccer Post

North Eatontown, New Jersey, United States

Soccer Post is a local-market-focused omnichannel soccer specialty retailer with over 30 store locations in the United States. It has been offering soccer apparel, footwear, and gear to enthusiasts, clubs, athletes, and families across the United States for over three decades. Its mission is to provide an authentic soccer retail experience to local soccer players in every market it serves. Soccer Post was formed in 2011 and is based in North Eatontown, New Jersey.

Buy -