Buyout (LBO, MBO, MBI) • Apparel/Textiles

Halpern Denny & Co. and Housatonic Partners Acquire Appleseeds

On March 18, 1999, private equity firms Halpern Denny & Co. and Housatonic Partners acquired apparel/textiles company Appleseeds

Acquisition Context
  • This is Halpern Denny & Co.’s 1st and Housatonic Partners’ 1st transaction in the Apparel/Textiles sector.
  • This is Halpern Denny & Co.’s 2nd and Housatonic Partners’ 9th transaction in the United States.
  • This is Halpern Denny & Co.’s 1st and Housatonic Partners’ 3rd transaction in Massachusetts.
Investment Fate
  • Appleseeds was sold to a consortium of financial buyers in 2005.
  • Appleseeds was sold to a strategic buyer in 2006.

Explore All 508 Buyout (LBO, MBO, MBI) Apparel/Textiles Deals - Search the Database Free


M&A Deal Summary

Date March 18, 1999
Target Appleseeds
Sector Apparel/Textiles
Buyer(s) Halpern Denny & Co.
Housatonic Partners
Deal Type Buyout (LBO, MBO, MBI)

Target Company

Appleseeds

Middleton, Massachusetts, United States
Appleseed's is a provider of updated classic apparel for women who value style, quality and comfort in their clothes.
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Buyers Overview 2

Buyer

Halpern Denny & Co.

Boston, Massachusetts, United States

Category Private Equity Firm
Founded 1991
PE ASSETS 600M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Halpern, Denny & Co. is a private equity investment firm that targets management buyouts and high growth, late stage expansion financings. In general, investments range between $5 million to $50 million per portfolio company. Investments less than $5 million are considered if the potential for return is either very high or if there is a follow-on investment opportunity. Moreover, investments up to $100 million can be completed with Halpern Denny co-investors. Industries of particular interest to Halpern, Denny & Co. include consumer, media/communications, distribution, specialty manufacturing, and healthcare. Halpern, Denny & Co. was formed in 1991 and is based in Boston, Massachusetts.


Deal Context for Buyer #
Overall 2 of 11
Sector: Apparel/Textiles 1 of 1
Type: Buyout (LBO, MBO, MBI) 2 of 7
State: Massachusetts 1 of 2
Country: United States 2 of 11
Year: 1999 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
1998-01-01 Windward Petroleum

Manchester, New Hampshire, United States

Windward Petroleum is a Consolidator of independent lubricant distributors to build largest, most efficient and most profitable lubricants distribution company in the U.S.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
1999-05-19 Bridge Medical

Solana Beach, California, United States

Bridge Medical provides patient safety software and services to the healthcare industry. It offers point-of-care patient safety system, which uses bar-code scanning, clinical bases, wireless networking, and integration to help nurses to intercept clinical errors at the patient bedside. The company’s products are used in hospitals and health systems.

Buy $33M
Buyer

Housatonic Partners

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1994
PE ASSETS 1.5B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Housatonic Partners is a private equity firm focused on investing in growing, profitable companies with a preference for businesses generating recurring revenues. Target sectors include services, media, and communications. Housatonic looks to commit $10 to $30 million per transaction to support buyouts and recapitalizations. Prospective companies generally have high gross margins and moderate capital intensity. Housatonic was formed in 1994 and has offices in Boston, Massachusetts and San Francisco, California.


Deal Context for Buyer #
Overall 9 of 79
Sector: Apparel/Textiles 1 of 1
Type: Buyout (LBO, MBO, MBI) 7 of 33
State: Massachusetts 3 of 11
Country: United States 9 of 73
Year: 1999 1 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
1998-11-01 Marathon Media

Chicago, Illinois, United States

Owns Midwest and northwest regional clusters of AM & FM radio stations. Marathon is led by Chris Devine and his management team to acquire and operate radio stations in smaller markets.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
1999-04-01 First American Records Management

Santa Barbara, California, United States

FARM is the leading provider of records storage and management services to Silicon Valley firms.

Sell -