Investment Summary

21st Century Group, HM Capital Partners and Kainos Capital Exits Milk Specialties Global

On June 27, 2016, private equity firm American Securities invested in food company Milk Specialties Global from 21st Century Group, HM Capital Partners and Kainos Capital

Investment Highlights
  • This is American Securities’ 1st transaction in the Food sector.
  • This is American Securities’ 50th transaction in the United States.
  • This is American Securities’ 2nd transaction in Minnesota.
Investment Fate
  • Milk Specialties Global was sold to a consortium of financial buyers in 2022.

Investment Summary

Date 2016-06-27
Target Milk Specialties Global
Sector Food
Investor(s) American Securities
Sellers(s) 21st Century Group
HM Capital Partners
Kainos Capital
Deal Type Secondary Buyout
Advisor(s) Morgan Stanley
Houlihan Lokey (Financial)
GreenbergTraurig (Legal)

Target

Milk Specialties Global

Eden Prairie, Minnesota, United States
Milk Specialties Global is a human and animal nutrition company. The Human Nutrition Business Unit is a leading manufacturer of whey and milk protein ingredients used primarily in the sports nutrition and functional foods end-markets. Milk Specialties Global was founded in 1949 and is based in Eden Prairie, Minnesota.

Search 214,239 Deals Now

SEARCH BY

  • Buyer Type (PE or Strategic)
  • Deal Size ($10M to $10B+)
  • Sector (60 Sectors)
  • Deal Type
  • Geography
  • & More

Try Free

Investor(S) 1

Investor

American Securities

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1994
PE ASSETS 23.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

American Securities is a large private equity firm that typically partners with management when pursuing company acquisitions. American Securities typically targets US-based with $50 to $200 million of EBITDA and valued up to $2 billion. Areas of interest include consumer products, restaurants, healthcare, industrial, aerospace, defense, agriculture, environmental, paper/packaging, energy, and specialty chemicals. The Firm was originally formed in 1947 as the family office for William Rosenwald, an heir to the Sears Roebuck & Company, and began accepting outside investors in 1994. American Securities is headquartered in New York, New York.


DEAL STATS #
Overall 51 of 81
Sector: Food M&A 1 of 1
Type: Secondary Buyout M&A Deals 22 of 37
State: Minnesota M&A 2 of 4
Country: United States M&A 50 of 80
Year: 2016 M&A 3 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-05-27 Blue Bird

Macon, Georgia, United States

Blue Bird is a designer and manufacturer of school buses, with more than 550,000 buses sold since its formation and approximately 180,000 buses in operation today. Blue Bird’s longevity and reputation in the school bus industry have made it an iconic American brand. Blue Bird distinguishes itself from its principal competitors by its singular focus on the design, engineering, manufacture, and sale of school buses and related parts. As the only manufacturer of chassis and body production specifically designed for school bus applications, Blue Bird is recognized as an industry leader for school bus innovation, safety, product quality/reliability/durability, operating costs and drivability. Blue Bird was founded in 1927 and is based in Macon, Georgia.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-07-11 Unison Site Management

New York, New York, United States

Unison Site Management LLC is a independent cell site company that specializes purchase of wireless antennae leases and cell ground tower leases from cell site owners.

Sell -

Seller(S) 3

SELLER

21st Century Group

Dallas, Texas, United States

Category Private Equity Firm
Founded 1998
PE ASSETS 166M USD
Size Small
Type Sector Agnostic
DESCRIPTION

21st Century Group is a private equity firm that targets lower middle-market company investments. The Firm looks for businesses generating annual sales of $15 to $150 million and valued between $15 and $100 million. Sectors of interest include manufacturing, value-added distribution, services, and media. Prospective transactions include divisions or subsidiaries of public or private companies, private companies seeking liquidity, family owned companies seeking intergeneration transfer of wealth, and take privates. 21st Century was formed in 1998 and is based in Dallas, Texas.


DEAL STATS #
Overall 8 of 9
Sector: Food M&A 1 of 1
Type: Secondary Buyout M&A Deals 2 of 2
State: Minnesota M&A 1 of 1
Country: United States M&A 8 of 9
Year: 2016 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-07-16 MSI

Plain City, Ohio, United States

MSI is a proponent of quality literature and the parent company of three different businesses each focused on promoting and selling juvenile books, The Junior Library Guild, Darby Creek Publishing and The Reading Circle. MSI is based in Plain City, Ohio.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-09-18 Spencer N Enterprises

El Monte, California, United States

Spencer N Enterprises, Inc. is a designer, manufacturer, importer and marketer of decorative pillows, window coverings and other home furnishing textile products. Spencer N Enterprises was founded in 2000 and is based in El Monte, California.

Sell -
SELLER

HM Capital Partners

Dallas, Texas, United States

Category Private Equity Firm
Founded 1989
PE ASSETS 1.6B USD
Size Large
Type Sector Agnostic
DESCRIPTION

HM Capital (formerly Hicks, Muse, Tate & Furst, Inc.) is a private equity firm that seeks investments in middle-market companies valued between $100 million and $1 billion. HM Capital's investments include acquisitions of large corporate divestitures, acquisitions or recapitalizations of privately owned or publicly traded businesses, and acquisitions of distressed businesses either through a restructuring or bankruptcy process. Sectors of interest include media, consumer products, energy, financial services, food/beverage, information services and niche manufacturing. HM Capital Partners was formed in 1989 and is based in Dallas, Texas.


DEAL STATS #
Overall 15 of 15
Sector: Food M&A 4 of 4
Type: Secondary Buyout M&A Deals 5 of 5
State: Minnesota M&A 1 of 1
Country: United States M&A 10 of 10
Year: 2016 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-06-03 Puerto Rico Cable Co.

Mercedita, Puerto Rico

Choice Cable is the incumbent cable operator serving the northern and western coastal region of Puerto Rico. The companys service area encompasses approximately 330,000 homes and its product offerings include video and high speed data.

Sell $276M
SELLER

Kainos Capital

Dallas, Texas, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2011
Size Middle-Market
Type Sector Focused
DESCRIPTION

Kainos Capital is a private equity firm focused on the food and consumer products sector. Kainos targets manufacturers and marketers of food products, as well as other consumer products in the household and personal care industries and over-the-counter health and nutritional products sectors. The Firm's target investment size is $50 to $150 million in a company with an EBITDA of $10 to $80 million. Kainos Capital is based in Dallas, Texas.


DEAL STATS #
Overall 9 of 19
Sector: Food M&A 8 of 12
Type: Secondary Buyout M&A Deals 2 of 7
State: Minnesota M&A 1 of 1
Country: United States M&A 8 of 18
Year: 2016 M&A 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-08-31 Kettle Cuisine

Chelsea, Massachusetts, United States

Kettle Cuisine is an independent, artisan soup maker providing uncompromised soup with a commitment to impeccable ingredients, careful preparation and traditional cooking techniques. The company offers a selection of over 50 varieties of soups, chilis and chowders, and services over 5,000 restaurants, cafes, delicatessens and supermarkets in the United States. Kettle Cuisine was founded in 1986 and is based in Chelsea, Massachusetts.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-08-15 InterHealth Nutraceuticals

Benicia, California, United States

InterHealth Nutraceuticals, Inc. is a provider in research, develops, markets and distributes specialty nutritional ingredients, which are sold worldwide to manufacturers of dietary supplements and nutraceutical food and beverage products.

Sell $300M