M&A Deal Summary

H.I.G. Private Equity Acquires Universal Fiber Systems

On October 5, 2015, private equity firm H.I.G. Private Equity acquired apparel/textiles company Universal Fiber Systems from The Sterling Group, The Stephens Group and Stephens Capital Partners

Acquisition Highlights
  • This is H.I.G. Private Equity’s 3rd transaction in the Apparel/Textiles sector.
  • This is H.I.G. Private Equity’s 122nd transaction in the United States.
  • This is H.I.G. Private Equity’s 5th transaction in Tennessee.

M&A Deal Summary

Date 2015-10-05
Target Universal Fiber Systems
Sector Apparel/Textiles
Buyer(s) H.I.G. Private Equity
Sellers(s) The Sterling Group
The Stephens Group
Stephens Capital Partners
Deal Type Secondary Buyout

Target

Universal Fiber Systems

Bristol, Tennessee, United States
Universal Fiber Systems is a manufacturer of high-performance, specialty synthetic fibers for niche segments of the commercial carpet, transportation carpet, and specialty textile industries. Universal Fiber Systems was founded in 1969 and is based in Bristol, Tennessee.

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Buyer(S) 1

Buyer

H.I.G. Private Equity

Miami, Florida, United States

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. The Firm focuses on management buyouts, growth equity investments, and recapitalizations of mid-sized to large companies valued between $50 million and $1 billion. HIG will also consider 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 is based in Miami, Florida.


DEAL STATS #
Overall 175 of 378
Sector (Apparel/Textiles) 3 of 4
Type (Secondary Buyout) 20 of 70
State (Tennessee) 5 of 7
Country (United States) 122 of 248
Year (2015) 15 of 21
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-09-21 Surgery Partners

Brentwood, Tennessee, United States

Surgery Partners is a healthcare services company with a differentiated outpatient delivery model focused on providing high-quality, cost-effective solutions for surgical and related ancillary care in support of both patients and physicians. Surgery Partners was founded in 2004 and is based in Brentwood, Tennessee.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-10-07 Out West Restaurant Group

San Diego, California, United States

Out West Restaurant Group is the exclusive franchisee of Outback Steakhouse in Arizona, California, Colorado, Nevada and New Mexico. In addition to the beef and steak items Outback is best known for, the Australian-themed concept offers a variety of chicken, ribs, seafood, and pasta dishes. The company's strategy is to differentiate its restaurants by emphasizing consistently high-quality food and service and great value in a casual atmosphere inspired by the Australian Outback. Currently, Out West Restaurant Group owns and operates over 100 Outback Steakhouse locations and is the largest franchisee of Bloomin’ Brands in the world. Out West Restaurant Group was founded in 1994 and is based in San Diego, California.

Buy -

Seller(S) 3

SELLER

The Sterling Group

Houston, Texas, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1982
PE ASSETS 9.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

The Sterling Group is a private equity firm focused on acquiring middle-market businesses within basic manufacturing, industrial services, and distribution. Sterling looks for companies valued from $100 to $1000 million with positive cash-flow, strong market positions, and potential to grow. Sterling avoids investments in financial services, real estate, healthcare, or information technology companies. The Sterling Group was formed in 1982 and is based in Houston, Texas.


DEAL STATS #
Overall 14 of 33
Sector (Apparel/Textiles) 1 of 1
Type (Secondary Buyout) 7 of 16
State (Tennessee) 2 of 4
Country (United States) 11 of 30
Year (2015) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-10-01 Liquibox

Richmond, Virginia, United States

Liquibox is a supplier of bag-in-box flexible packaging to the global dairy, beverage, and bulk food markets. Bag-in-box packaging is primarily used in the food service industry to package dairy mix for milkshakes and coffee drinks, fountain beverage syrup, and pumpable liquid foods such as food concentrates and sauces. Liquibox was formed in 1961 and is based in Richmond, Virginia.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-01-04 Dexter Axle

Elkhart, Indiana, United States

Dexter Axle Co., Inc. is a designer and manufacturer of trailer axle, brake and suspension assemblies and related replacement parts used primarily in the industrial and utility trailer.

Sell -
SELLER

The Stephens Group

Little Rock, Arkansas, United States

Investor Investor Investor Investor Investor


Category Family Office
Founded 1933
PE ASSETS 1.5B USD
Size Large
Type Sector Agnostic
DESCRIPTION

The Stephens Group is a private investment firm focused on long-term investments in mid-sized companies. The Firm looks to partner with management teams when pursuing acquisitions. Sectors of interest include energy, energy services, business services, industrials, consumer products, consumer services, financial services, healthcare, technology, media, and communications. The Stephens Group was originally established in 1933 and is headquartered in Little Rock, Arkansas.


DEAL STATS #
Overall 19 of 28
Sector (Apparel/Textiles) 1 of 1
Type (Secondary Buyout) 3 of 6
State (Tennessee) 1 of 1
Country (United States) 16 of 25
Year (2015) 4 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-02-19 Stephens Media

Las Vegas, Nevada, United States

Stephens Media LLC is a newspaper publisher operating eight daily newspapers, over 65 weekly and niche publications, and more than 50 websites serving communities throughout the United States.

Sell $103M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-06-27 CoreLink Surgical

St. Louis, Missouri, United States

CoreLink Surgical is a developer, manufacturer, and marketer of branded spinal implants and surgical instruments, including interbody cage systems, pedicle screw systems, plate systems, biologics, and surgical instruments for cervical, lumbar, and thoracolumbar spinal procedures. CoreLink Surgical is based in St.Louis, Missouri.

Buy -
SELLER

Stephens Capital Partners

Little Rock, Arkansas, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Stephens Capital Partners is the direct, private equity investment arm of financial services firm Stephens, Inc. Stephens Capital looks to acquire minority or majority stakes in mid-sized, profitable companies in partnership with management. The Firm will consider opportunities throughout the US valued between $50 and $200 million. Stephens Capital will not consider venture investments or turnaround situations. Stephens Capital Partners is based in Little Rock, Arkansas.


DEAL STATS #
Overall 24 of 40
Sector (Apparel/Textiles) 2 of 2
Type (Secondary Buyout) 8 of 15
State (Tennessee) 1 of 1
Country (United States) 24 of 39
Year (2015) 6 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-08-27 Product Quest Manufacturing

Daytona Beach, Florida, United States

Product Quest Manufacturing LLC provides skin and personal care products for the over-the-counter market. Product Quest Manufacturing filed for bankruptcy in 2018.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-11-01 Inspire Automation

Indianapolis, Indiana, United States

Inspire Automation is a manufacturer of specialized equipment and conveyor systems for the corrugated box industry. The company designs and manufactures graphics, robotic material handling equipment and high-speed litho label laminators for corrugated box makers to add value to strong, plain corrugated boxes easily and economically. Inspire Automation is based in Indianapolis, Indiana.

Buy -