M&A Deal Summary

ICV Capital Partners Acquires Sullivans

On November 1, 2022, private equity firm ICV Capital Partners acquired consumer products company Sullivans from Fort Point Capital

Acquisition Highlights
  • This is ICV Capital Partners’ 2nd transaction in the Consumer Products sector.
  • This is ICV Capital Partners’ 30th transaction in the United States.
  • This is ICV Capital Partners’ 1st transaction in South Dakota.

M&A Deal Summary

Date 2022-11-01
Target Sullivans
Sector Consumer Products
Buyer(s) ICV Capital Partners
Sellers(s) Fort Point Capital
Deal Type Secondary Buyout

Target

Sullivans

Sioux Falls, South Dakota, United States
Sullivans is a designer and distributor of seasonal and all-occasion home décor products that are sold principally to independent and specialty channel retail customers in the U.S. The Company's primary product lines include holiday and celebration decorations, permanent floral and foliage products, home décor items and accessories. Sullivans was founded in 1968 and is based in Sioux Falls, South Dakota.

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Buyer(S) 1

Buyer

ICV Capital Partners

Miami, Florida, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1998
PE ASSETS 700M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

ICV Capital Partners is a private equity firm focused on making equity investments in US-based middle-market companies. ICV seeks control investments in companies with annual revenues between $25 and $300 million and EBITDA between $10 and $40 million. ICV prefers businesses with existing/proven management and operating in stable industries. Target transactions include non-core divestitures, take-privates, and acquisitions of private companies in partnership with management. ICV Capital Partners was founded in 1998 and has offices in New York and Atlanta, Georgia.


DEAL STATS #
Overall 32 of 33
Sector (Consumer Products) 2 of 2
Type (Secondary Buyout) 12 of 12
State (South Dakota) 1 of 1
Country (United States) 30 of 31
Year (2022) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-09-01 FleetOptics

Mississauga, Ontario, Canada

FleetOptics is a final mile delivery specialist that utilizes proprietary technology for efficient delivery execution. The Company partners with marquee companies spanning the beauty, apparel, jewelry, and sporting goods sectors to deliver small-packages. FleetOptics was founded in 2015 and is based in Mississauga, Ontario.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-02-21 Desi Fresh Foods

Farmingdale, New York, United States

Desi Fresh Foods develops and markets branded Indian yogurts (Dahi) and cheese (Paneer) which is predominantly sold through ethnic retailers. Desi has established itself as the #1 Indian Dahi brand in the U.S. The company enjoys the widest brand awareness, highest net promoter score, and widest distribution among any Dahi brand in the U.S. Desi Fresh Foods is based in Farmingdale, New York.

Buy -

Seller(S) 1

SELLER

Fort Point Capital

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor


Category Growth Capital Firm
Founded 2009
Size Small
Type Sector Agnostic
DESCRIPTION

Fort Point Capital is a private investment firm that targets smaller middle-market growth company investments. The Firm specifically looks for partnerships where firm expertise can help businesses realize their 'potential'. Sectors of interest include business services, healthcare, consumer, and software and information. Fort Point Capital was formed in 2009 and has offices in Boston and New York City.


DEAL STATS #
Overall 7 of 7
Sector (Consumer Products) 1 of 1
Type (Secondary Buyout) 5 of 5
State (South Dakota) 1 of 1
Country (United States) 7 of 7
Year (2022) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-07-21 Nova

Toronto, Ontario, Canada

Nova is a provider of automation software for digital advertising. Nova enables advertisers to repurpose creative assets originally developed for social platforms to be easily distributed across the open internet, including mobile apps and connected TV. Nova is based in Toronto, Ontario.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-01-10 ROX360

Eastpoint, Florida, United States

ROX360 is a tech-enabled marketing platform that provides technology-driven logistics/fulfillment services and customer retention services for vacation rental management customers. ROX360 was formed in 2014 and is based in Eastpoint, Florida.

Buy -