M&A Deal Summary

HarbourVest Partners and Avery Dennison Acquire Vestcom

On July 28, 2021, private equity firm HarbourVest Partners and Avery Dennison acquired marketing company Vestcom from Charlesbank Capital Partners for 1.5B USD

Acquisition Highlights
  • This is HarbourVest Partners’ 3rd and Avery Dennison’s 1st transaction in the Marketing sector.
  • This is HarbourVest Partners’ 34th and Avery Dennison’s largest (disclosed) transaction.
  • This is HarbourVest Partners’ 128th and Avery Dennison’s 9th transaction in the United States.
  • This is HarbourVest Partners’ 1st and Avery Dennison’s 1st transaction in Arkansas.

M&A Deal Summary

Date 2021-07-28
Target Vestcom
Sector Marketing
Buyer(s) HarbourVest Partners
Avery Dennison
Sellers(s) Charlesbank Capital Partners
Deal Type Add-on Acquisition
Deal Value 1.5B USD

Target

Vestcom

Little Rock, Arkansas, United States
Vestcom is a provider of technology-enabled shelf-edge media solutions to the retail and consumer products industry. The company offers an array of solutions including customized shelf-edge labels, branding and promotional content labels, and shelf-edge strips with product information. Vestcom was founded in 1996 and is based in Little Rock, Arkansas.

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Buyer(S) 2

Buyer

HarbourVest Partners

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1978
PE ASSETS 86.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

HarbourVest Partners, LLC is an investment firm that makes investments in new private equity partnerships, acquires secondary interests, and makes direct investments in operating companies. HarbourVest's largest investment area is investments in private equity funds, comprising of approximately 2/3 of HarbourVest's assets. HarbourVest's direct investment group looks for investments in growth oriented businesses at a variety of stages. The Group generally targets co-investments of $5 to $100 million, growth capital financings of $5 to $40 million, or mezzanine commitments of $5 to $20 million. Sectors of interest include software, hardware, data communications, telecommunications, and financial services. HarbourVest was formed in 1997 to assume the business of Hancock Venture Partners which was formed in 1982. HarbourVest Partners is based in Boston, Massachusetts, with additional offices in London, Tokyo, and Hong Kong.


DEAL STATS #
Overall 216 of 222
Sector (Marketing) 3 of 3
Type (Add-on Acquisition) 7 of 10
State (Arkansas) 1 of 1
Country (United States) 128 of 133
Year (2021) 7 of 13
Size (of disclosed) 34 of 68
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-07-23 Outbrain

New York, New York, United States

Outbrain is a content recommendation engine, that reaches a highly engaged audience through distribution on top publisher sites, including USA Today, iVillage, PC Magazine, Chicago Tribune, Newsweek, The Daily Beast and Slate. The company provides publishers a service for recommended links to increase traffic and generate revenue, and marketers a way to distribute content alongside the publisher's own editorial recommendations. Outbrain was formed in 2006 and is based in New York City.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-08-26 itel

Jacksonville, Florida, United States

itel is an insurance service provider that helps property insurance companies effectively settle claims worldwide. itel is committed to custom-fitting its service offering to meet the unique needs of each international insurance market. itel was founded in 1993 and is based in Jacksonville, Florida.

Buy -
Buyer

Avery Dennison

Mentor, Ohio, United States

Category Company
Founded 1935
Sector Consumer Products
Employees35,000
Revenue 8.4B USD (2023)
DESCRIPTION
Avery Dennison's office in Glendale, California.
Avery Dennison's office in Glendale, California.

Avery Dennison is a global provider of labeling and packaging materials and solutions. Avery Dennison's businesses include the production of pressure-sensitive materials and a variety of tickets, tags, labels and other converted products. Some pressure-sensitive materials are sold to label printers and converters that "convert" the materials into labels and other products through embossing, printing, stamping and die-cutting. Some are sold in converted form as tapes and reflective sheeting. Avery Dennison also manufactures and sells a variety of other converted products and items not involving pressure-sensitive components, such as fasteners, tickets, tags, radio-frequency identification inlays and tags, and imprinting equipment and related services, which are marketed to retailers and apparel manufacturers and brand owners. Avery Dennison was incorporated in 1935 and is based in Mentor, Ohio.


DEAL STATS #
Overall 14 of 14
Sector (Marketing) 1 of 1
Type (Add-on Acquisition) 12 of 12
State (Arkansas) 1 of 1
Country (United States) 9 of 9
Year (2021) 3 of 3
Size (of disclosed) 1 of 9
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-02-15 JDC

Mt Juliet, Tennessee, United States

JDC manufactures solution-based pressure-sensitive specialty tapes for use in automotive, appliance, building and construction, computer disk-drive, and healthcare applications. JDC was founded in 1967 and is based in Mt Juliet, Tennessee.

Buy $24M

Seller(S) 1

SELLER

Charlesbank Capital Partners

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1998
PE ASSETS 6.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Charlesbank Capital Partners is a private equity firm focused on investing in companies at various stages of development, including private and public companies, distressed situations, as well as later stage high growth businesses. Charlesbank typically invests $50 to $150 million per deal, in companies valued between $150 million and $3 billion. Industries of interest include consumer products, distribution, energy, financial services, food, education, health-care products and services, manufacturing, media and communications, and retail. Charlesbank Capital Partners is based in Boston, Massachusetts with an additional office in New York City.


DEAL STATS #
Overall 47 of 50
Sector (Marketing) 1 of 1
Type (Add-on Acquisition) 16 of 18
State (Arkansas) 1 of 1
Country (United States) 43 of 46
Year (2021) 3 of 3
Size (of disclosed) 3 of 14
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-05-24 Lido

Los Angeles, California, United States

Lido is a full-service, independent Registered Investment Advisor (“RIA”) that brings an innovative family office investment approach to grow and safeguard its clients’ wealth and legacies. Lido’s clients include high-net-worth and ultra-high-net-worth individuals, family offices, corporate executives, non-profit organizations, and foundations. Lido was founded in 1999 and is based in Los Angeles, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-08-19 MDVIP

Boca Raton, Florida, United States

MDVIP is a personalized healthcare program that empowers people to reach their health and wellness goals through in-depth knowledge, expertise, and one-on-one coaching with an affiliated primary care doctor. The company's model was created with the hope and vision of bringing more life to more lives both young and old by putting impersonal healthcare practices and tactics aside and embracing a new way of healing. MDVIP was founded in 2000 and is based in Boca Raton, Florida.

Buy -