M&A Deal Summary

HKW Acquires PANOS brands

On January 29, 2016, private equity firm HKW acquired food company PANOS brands from High Road Capital Partners

Acquisition Highlights
  • This is HKW’s 1st transaction in the Food sector.
  • This is HKW’s 30th transaction in the United States.
  • This is HKW’s 2nd transaction in New Jersey.

M&A Deal Summary
Date 2016-01-29
Target PANOS brands
Sector Food
Buyer(s) HKW
Sellers(s) High Road Capital Partners
Deal Type Secondary Buyout
Advisor(s) Harris Williams (Financial)
Jones Day (Legal)

Target

PANOS brands

Rochelle Park, New Jersey, United States
PANOS brands manufactures and markets natural and specialty food and beverage products sold in the US and Canada, with a portfolio of brands including KA-ME Asian foods, Seamark crackers, MI-DEL cookies, and Amore food pastes. PANOS brands was founded in 2006 and is based in Rochelle Park, New Jersey.

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Buyer(S) 1

Buyer

HKW

Indianapolis, Indiana, United States

Investor Investor Investor Investor

Category Private Equity Firm
Founded 1903
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Hammond Kennedy Whitney & Company (HKW) is a private equity firm focused on making control investments in mid-sized, 'market leading' companies generating sales of $5 to $75 million. HKW looks for companies with low risk for technological obsolescence, defined growth strategies, and talented management who want to own equity. Target transaction situations include industry consolidations, corporate divestitures, generational changes in ownership, growth equity, management buy-outs and recapitalizations. HKW prefers North American based opportunities. HKW dates back to 1903, however the Firm transitioned from sole to institutional investors in 2001. The Firm has offices in Indianapolis and New York City.

DEAL STATS #
Overall 36 of 54
Sector (Food) 1 of 1
Type (Secondary Buyout) 3 of 6
State (New Jersey) 2 of 2
Country (United States) 30 of 44
Year (2016) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-12-08 CLS Management Services

Sugar Land, Texas, United States

CLS Management Services is one of the largest independent providers of the right of way and land management consulting services in the U.S. The Company provides a comprehensive suite of land management services including project management, right of way acquisition, training, staffing, and related field services to both public and private sector clients in the utility, public infrastructure, and energy end-markets. CLS Management Services was founded in 1985 and is based in Sugar Land, Texas.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-07-18 AirWorx Construction Equipment

Indianapolis, Indiana, United States

AirWorx Construction Equipment is a distributor of new and used construction equipment such as Aerial Work Platforms and Telehandlers for the construction and industrial markets in the Indiana, Ohio, and Kentucky regions. AirWorx Construction Equipment was founded in 1996 and is based in Indianapolis, Indiana.

Sell -

Seller(S) 1

SELLER

High Road Capital Partners

Greenwich, Connecticut, United States

Investor Investor Investor

Category Private Equity Firm
Founded 2007
PE ASSETS 470M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

High Road Capital Partners LLC is a private equity firm focused on acquiring smaller middle-market companies in partnership with management. High Road looks to invest in companies with revenues of $10 to $100 million with an EBITDA of $3 to $ 10 million. Broad areas of interest include manufacturing, service, and value-added distribution businesses. Target transaction situations include buyouts and recapitalization. High Road will consider both control and non-control investments. High Road Capital Partners was formed in 2007 and is based in New York City.

DEAL STATS #
Overall 5 of 13
Sector (Food) 1 of 1
Type (Secondary Buyout) 2 of 4
State (New Jersey) 2 of 3
Country (United States) 4 of 12
Year (2016) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-07-10 Cali

San Diego, California, United States

Cali is a manufacturer and direct-to-consumer retailer of bamboo flooring and sustainable building products. Cali Bamboo was founded in 2004 and is based in San Diego, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-02-14 Banner Solutions

Kansas City, Missouri, United States

Banner Solutions is a wholesale distributor of door hardware, electronic access control, and security products primarily for repair, replacement, and renovation applications in the commercial/institutional and residential markets. Banner Solutions was founded in 1987 and is based in Kansas City, Missouri.

Buy -
Mergr

Product

Company

Legal