M&A Deal Summary

Houchens Industries Acquires Feeders Supply

On March 31, 2023, Houchens Industries acquired retailer Feeders Supply from PNC Riverarch Capital and Golub Capital

Acquisition Highlights
  • This is Houchens Industries’ 2nd transaction in the Retail sector.
  • This is Houchens Industries’ 4th transaction in the United States.
  • This is Houchens Industries’ 3rd transaction in Kentucky.

M&A Deal Summary
Date 2023-03-31
Target Feeders Supply
Sector Retail
Buyer(s) Houchens Industries
Sellers(s) PNC Riverarch Capital
Golub Capital
Deal Type Add-on Acquisition

Target

Feeders Supply

Louisville, Kentucky, United States
Feeders Supply is an operator of 16 retail locations primarily in the Louisville metropolitan area. The company is focused on providing “everything you need for all the pets you feed” and offers a broad selection of premium pet food brands and products. Feeders Supply was founded in 1959 and is headquartered in Louisville, Kentucky.

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Buyer(S) 1

Buyer

Houchens Industries

Bowling Green, Kentucky, United States
Category Company
Founded 1917
Sector Healthcare Services
DESCRIPTION

Houchens Industries, INC. operates as a diversified conglomerate. It offers occupational health care services; financial planning services and customized advices with a focus on education, retirement, business succession, trust, and estate planning; voluntary benefits, and medical and group insurance; risk management and employee benefit products; and construction management and general contracting services.

DEAL STATS #
Overall 4 of 4
Sector (Retail) 2 of 2
Type (Add-on Acquisition) 3 of 3
State (Kentucky) 3 of 3
Country (United States) 4 of 4
Year (2023) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2009-03-31 Sheldon s Express Pharmacy

Bowling Green, Kentucky, United States

Sheldon's Express Pharmacy, Inc. is a operator of chain of drug stores.

Buy -

Seller(S) 2

SELLER

PNC Riverarch Capital

Pittsburgh, Pennsylvania, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2011
PE ASSETS 250M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

PNC Riverarch Capital is a middle-market private equity group that invests in privately-held companies headquartered throughout North America. The Group looks to commit $10 to $50 million to help fund recapitalizations, leveraged and management buyouts, corporate divestitures and growth financings. Target sectors include business and industrial services, specialized manufacturing, and value-added distribution. PNC Riverarch was formed in 2011 and is an affiliate of PNC Financial Services Group.

DEAL STATS #
Overall 17 of 18
Sector (Retail) 1 of 1
Type (Add-on Acquisition) 4 of 5
State (Kentucky) 1 of 1
Country (United States) 16 of 16
Year (2023) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-01-10 APA Industries

Simi Valley, California, United States

APA Industries is a supplier of replacement parts to the automotive aftermarket. APA designs, sources, and distributes a wide range of more than 8,000 automotive parts to a diverse range of warehouse distributor, retail, and eCommerce customers through its URO Parts and Autotecnica brands. APA Industries was founded in 1984 and is based in Simi Valley, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-05-01 Pirtek UK

London, United Kingdom

Pirtek UK is a provider of fluid transfer solutions and on-site repairs. Specializing in hydraulic hoses, pipe fittings & couplings. Pirtek offers a comprehensive range of fluid transfer solutions, products & services to industries including Agriculture; Automotive; Construction & Plant Hire; Defence; Environmental; Services; Manufacturing; Marine & Offshore; Material Handling; Mining & Quarrying; Transport & Logistics; Utilities. Pirtek UK was founded in 1988 and is based in London, United Kingdom.

Sell -
SELLER

Golub Capital

New York, New York, United States

Investor Investor Investor Investor Investor

Category Lender
Founded 1994
PE ASSETS 55.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Golub Capital is a private investment firm focused on making debt and equity investments in US based middle-market companies. Golub looks to invest between $5 and $75 million in businesses with established operating cash flow, strong customer relationships, and 'sustainable proprietary positions in their markets'. Prospective investment structures include refinancings, recapitalizations, buyouts, and growth financings. Sectors of interest include consumer products, business and consumer services, defense, manufacturing, value-added distribution, media, healthcare services and restaurants. Golub Capital was formed in 1994 and maintains offices in New York City, Atlanta, and Chicago.

DEAL STATS #
Overall 38 of 41
Sector (Retail) 4 of 4
Type (Add-on Acquisition) 17 of 19
State (Kentucky) 1 of 1
Country (United States) 37 of 39
Year (2023) 2 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-01-04 SureWerx

Coquitlam, British Columbia, Canada

SureWerx is a supplier of professional safety products, tools, and equipment. The company offers access to its brands through its partner distributor network servicing the industrial, construction, safety, and automotive aftermarket markets globally. SureWerx was formed in 1957 and is based in Coquitlam, British Columbia.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-05-01 Pirtek UK

London, United Kingdom

Pirtek UK is a provider of fluid transfer solutions and on-site repairs. Specializing in hydraulic hoses, pipe fittings & couplings. Pirtek offers a comprehensive range of fluid transfer solutions, products & services to industries including Agriculture; Automotive; Construction & Plant Hire; Defence; Environmental; Services; Manufacturing; Marine & Offshore; Material Handling; Mining & Quarrying; Transport & Logistics; Utilities. Pirtek UK was founded in 1988 and is based in London, United Kingdom.

Sell -
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