M&A Deal Summary

Harvest Partners Private Equity Acquires Hand and Stone Franchise

On June 7, 2022, private equity firm Harvest Partners Private Equity acquired consumer services company Hand and Stone Franchise from Levine Leichtman Capital Partners

Acquisition Highlights
  • This is Harvest Partners Private Equity’s 2nd transaction in the Consumer Services sector.
  • This is Harvest Partners Private Equity’s 44th transaction in the United States.
  • This is Harvest Partners Private Equity’s 1st transaction in Pennsylvania.

M&A Deal Summary

Date 2022-06-07
Target Hand and Stone Franchise
Sector Consumer Services
Buyer(s) Harvest Partners Private Equity
Sellers(s) Levine Leichtman Capital Partners
Deal Type Secondary Buyout
Advisor(s) North Point Advisors LLC
Harris Williams (Financial)
Kirkland & Ellis (Legal)

Target

Hand and Stone Franchise

Trevose, Pennsylvania, United States
Hand and Stone Franchise through its franchisees offer a comprehensive range of massage, facial and hair removal services along with complementary product offerings. Hand and Stone Franchise was founded in 2004 and is based in Trevose, Pennsylvania.

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Buyer(S) 1

Buyer

Harvest Partners Private Equity

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1981
PE ASSETS 5.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Harvest Partners is a private equity firm that targets buyout and growth capital investments in middle-market public and private companies. Harvest Partners looks to invest in profitable ($30 to $300 million of EBITDA) consumer products/retail, manufacturing, marketing, building products, industrial, specialty services, and value-added distribution companies valued between $100 and $600 million. The Firm prefers opportunities headquartered in North America. Harvest Partners was formed in 1981 and is based in New York City.


DEAL STATS #
Overall 47 of 49
Sector (Consumer Services) 2 of 2
Type (Secondary Buyout) 25 of 27
State (Pennsylvania) 1 of 1
Country (United States) 44 of 46
Year (2022) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-12-16 Convergint

Schaumburg, Illinois, United States

Convergint is a designer, installer, and services integrated building systems including electronic security, fire alarm, and life safety systems. Convergint was founded in 2001 and is based in Schaumburg, Illinois.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-03-29 Lazer Logistics

Alpharetta, Georgia, United States

Lazer Logistics is a provider of comprehensive yard management solutions, including trailer spotting, shuttling and other complementary transportation and logistics services. Lazer Logistics was founded in 1996 and is based in Alpharetta, Georgia.

Sell -

Seller(S) 1

SELLER

Levine Leichtman Capital Partners

Beverly Hills, California, United States

Investor Investor Investor Investor Investor


Category Mezzanine Finance Firm
Founded 1984
PE ASSETS 12.9B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Levine Leichtman Capital Partners (LLCP) is a West Coast US based private investment firm that targets mezzanine and other structured equity investments in middle-market companies. The Firm has several funds, each with different strategies. LLCP's larger fund targets subordinated debt, preferred equity, and/or common equity investments in companies with $100 to $750 million of revenue. The Firm's smaller fund invests $5 to $15 million in emerging companies with less than $25 million in revenue. LLCP also invests in financially distressed businesses. LLCP was formed in 1984 and has offices in Beverly Hills, California; Chicago, Illinois; Dallas, Texas; New York City; and London.


DEAL STATS #
Overall 51 of 57
Sector (Consumer Services) 2 of 2
Type (Secondary Buyout) 26 of 30
State (Pennsylvania) 2 of 2
Country (United States) 47 of 51
Year (2022) 5 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-05-11 GLAS

London, United Kingdom

GLAS is an independent, non-creditor provider of loan agency, restructuring and capital market administration services globally. GLAS was founded in 2011 and is based in London, United Kingdom.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-06-23 TSS

Berkeley, California, United States

TSS provides unparalleled service to biotechnology, pharmaceutical, clinical, and academic research facilities as the largest provider of controlled environment equipment services in North America. TSS was founded in 1970 and is based in Berkeley, California.

Buy -