Buyout (LBO, MBO, MBI) • Distribution

Heartwood Partners Acquires Linen Holdings

On January 1, 2008, private equity firm Heartwood Partners acquired distribution company Linen Holdings

Acquisition Context
  • This is Heartwood Partners’ 1st transaction in the Distribution sector.
  • This is Heartwood Partners’ 6th transaction in the United States.
  • This is Heartwood Partners’ 1st transaction in New Jersey.
Investment Fate
  • Linen Holdings was sold to a publicly-traded strategic buyer in 2012 for 105M USD.

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M&A Deal Summary

Date January 1, 2008
Target Linen Holdings
Sector Distribution
Buyer(s) Heartwood Partners
Deal Type Buyout (LBO, MBO, MBI)

Target Company

Linen Holdings

Gibbsboro, New Jersey, United States
Linen Holdings is a high service supplier of bath, bed and table linens and other textile products primarily on a replacement basis to small and mid-sized U.S. accounts in the hospitality, health care, government and school sectors.
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Buyer Overview 1

Buyer

Heartwood Partners

Norwalk, Connecticut, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1982
PE ASSETS 1.6B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Heartwood Partners is a private equity firm focused on partnerships with middle-market companies across the US. The Firm prefers to invest in family owned and managed companies where it can leverage strategic resources for long-term growth. Target companies are typically profitable with $5 to $30 million of EBITDA with up to $400 million in revenue. Sectors of interest include agriculture, automotive, consumer products, distribution, food, industrial services, niche manufacturing, packaging, and chemicals. Heartwood Partners was formed in 1982 and is headquartered in Norwalk, Connecticut.


Deal Context for Buyer #
Overall 6 of 32
Sector: Distribution 1 of 1
Type: Buyout (LBO, MBO, MBI) 3 of 11
State: New Jersey 1 of 3
Country: United States 6 of 32
Year: 2008 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-09-30 Derby Fabricating Solutions

Louisville, Kentucky, United States

Derby Fabricating Solutions is a manufacturer of foam and non-metallic sealing components for air, water and noise abatement for the automotive industry. Derby Fabricating Solutions was founded in 1977 and is based in Louisville, Kentucky.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2008-10-27 Weaver Leather

Mount Hope, Ohio, United States

Weaver Leather is a provider of leather and nylon products and accessories into the Western-style equine, livestock, pet, and arborist markets. Weaver manufactures, markets, and distributes a broad line of branded and non-branded leather, nylon/synthetic, hardware, and other products and product accessories uniquely designed for its four consumer-focused divisions (equine, livestock, pet, and arborist) - and its wholesale supply division. Weaver Leather was established in 1973 and is based in Mount Hope, Ohio.

Buy -