M&A Deal Summary

HCAP Partners and St. Cloud Capital Acquire Burke Williams Day Spas

On January 24, 2017, growth capital firm HCAP Partners and private equity firm St. Cloud Capital acquired consumer services company Burke Williams Day Spas

Acquisition Highlights
  • This is HCAP Partners’ 3rd and St. Cloud Capital’s 2nd transaction in the Consumer Services sector.
  • This is HCAP Partners’ 35th and St. Cloud Capital’s 24th transaction in the United States.
  • This is HCAP Partners’ 23rd and St. Cloud Capital’s 8th transaction in California.

M&A Deal Summary
Date 2017-01-24
Target Burke Williams Day Spas
Sector Consumer Services
Buyer(s) HCAP Partners
St. Cloud Capital
Deal Type Recapitalization

Target

Burke Williams Day Spas

Inglewood, California, United States
Burke Williams Day Spas is a full-service luxury day spa with eleven locations serving customers throughout California. Burke Williams Day Spas provides health and wellness services such as massage therapy, spa baths, skin, and nail treatments. Burke Williams Day Spas was founded in 1984 and is based in Inglewood, California.

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Buyer(S) 2

Buyer

HCAP Partners

La Jolla, California, United States

Investor Investor Investor Investor Investor

Category Growth Capital Firm
Founded 2000
PE ASSETS 320M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Huntington Capital is a mezzanine finance firm that provides both debt and equity financing to established, lower middle-market companies throughout California and the Southwest US. The Firm targets growth companies with positive cash flow, diversified customers, defensible market positions, and experienced management. The Firm looks to invest $2 to $15 million in companies generating revenues of $10 to $100 million. Areas of interest include manufacturing, services, healthcare, software, homeland security, retail, and information technology. Prospective transaction situations include buyouts, acquisitions, recapitalizations, and growth capital financings. Huntington Capital was formed in 2000 and is based in San Diego, California.

DEAL STATS #
Overall 35 of 64
Sector (Consumer Services) 3 of 4
Type (Recapitalization) 3 of 5
State (California) 23 of 33
Country (United States) 35 of 63
Year (2017) 1 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-01-04 Vertical Management Systems

Pasadena, California, United States

Vertical Management Systems, is a provider of data, financial networking, and account aggregation technology. For nearly 25 years, VMS has designed, developed and hosted accounting and securities process-and-control solutions for the largest financial institutions in the United States. VMS’s three core products include its retirement platform, Retirement Revolution, a leading supplier of next-generation retirement solutions; Mutual Fund Desk (MFD), a mutual fund process-and-control platform; and Specialized Information Services (SIS), a comprehensive source of customized and audited financial data. Vertical Management Systems was founded in 1992 and is based in Pasadena, California.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-02-14 Progistics Distribution

Oakland, California, United States

Progistics Distribution, Inc. is a provider of “last mile” delivery solutions for the B2B, B2C and omnichannel markets using a proprietary technology solution to offer customized service offerings at scale. Logistics Distribution is based in Oakland, California.

Buy -
Buyer

St. Cloud Capital

Los Angeles, California, United States
Category Private Equity Firm
Founded 2001
PE ASSETS 700M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

St. Cloud Capital is an investment firm that invests in lower middle-market private and public companies. The Firm provides both debt and equity capital financing. St. Cloud targets well-managed, undervalued companies with successful products or services, proven technologies, and market niches. It looks to invest $5 to $20 million per transaction in companies with revenue of $10 to $150 million. Prospective transactions types include recapitalizations, buyouts, and growth capital financing. St Cloud Capital was formed in 2001 and is based in Los Angeles, California.

DEAL STATS #
Overall 24 of 36
Sector (Consumer Services) 2 of 4
Type (Recapitalization) 2 of 3
State (California) 8 of 12
Country (United States) 24 of 36
Year (2017) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-11-16 Apposite Technologies

Los Angeles, California, United States

Apposite Technologies is a developer of a wide-area network (“WAN”) testing software and equipment. Apposite’s tools test the effect of WAN bandwidth, latency, packet loss, and other impairments, allowing users to evaluate the performance of network-based software applications. Apposite Technologies was founded in 2005 and is based in Los Angeles, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-04-17 gen-E

Denver, Colorado, United States

gen-E is a software company providing service assurance and advanced analytics software, along with professional services to the telecommunications industry. The company offers solutions for communication service providers and companies with large, complex networks. gen-E was established in 1999 and is based in Denver, Colorado.

Buy -
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