Investment Summary

IMB Partners and Pine Grove Holdings Invest In Richmond Wholesale

On January 19, 2021, private equity firms IMB Partners and Pine Grove Holdings invested in distribution company Richmond Wholesale

Investment Highlights
  • This is IMB Partners’ 2nd and Pine Grove Holdings’ 2nd transaction in the Distribution sector.
  • This is IMB Partners’ 6th and Pine Grove Holdings’ 5th transaction in the United States.
  • This is IMB Partners’ 1st and Pine Grove Holdings’ 1st transaction in California.

Investment Summary
Date 2021-01-19
Target Richmond Wholesale
Sector Distribution
Investor(s) IMB Partners
Pine Grove Holdings
Deal Type Growth Capital
Advisor(s) DCA Partners
Flaherty Capital Markets (Financial)

Target

Richmond Wholesale

Richmond, California, United States
Richmond Wholesale is a wholesale food distributor serving the military around the world. Richmond Wholesale provides frozen, chilled, and dry food solutions. Richmond Wholesale was founded in 1959 and is based in Richmond, California.

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Investor(S) 2

Investor

IMB Partners

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2010
Size Small
Type Sector Agnostic
DESCRIPTION

IMB Partners is a private investment firm focused on investing in and acquiring middle-market companies ($10 to $250 million of revenue) in partnership with management teams. The Firm has a special interest in companies that supply large corporations and the government. IMB Partners was formed in 2010 and is headquartered in Bethesda, Maryland.

DEAL STATS #
Overall 6 of 9
Sector (Distribution) 2 of 2
Type (Growth Capital) 6 of 9
State (California) 1 of 2
Country (United States) 6 of 9
Year (2021) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-01-01 Elite Brands

Norfolk, Massachusetts, United States

Elite Brands is a sales, marketing and distribution company that supplies perishable, semi-perishable and non-perishable products to DECA. Elite is the primary supplier of over 40 brands and hundreds of products to military commissaries and exchanges around the world. Elite Brands was founded in 2000 and is based in Norfolk, Massachusetts.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-03-15 Carr & Duff

Huntingdon Valley, Pennsylvania, United States

Carr & Duff is a provider of specialty electrical construction services. Carr & Duff was founded in 1958 and is based in Huntingdon Valley, Pennsylvania.

Buy -
Investor

Pine Grove Holdings

Category Private Equity Firm
Founded 2011
Size Small
Type Sector Agnostic
DESCRIPTION

Pine Grove Holdings is a small private investment group focused on venture, private equity, and real estate opportunities. Pine Grove Holdings was formed in 2011 and is headquartered in Chicago, Illinois.

DEAL STATS #
Overall 5 of 7
Sector (Distribution) 2 of 2
Type (Growth Capital) 2 of 2
State (California) 1 of 2
Country (United States) 5 of 7
Year (2021) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-07-29 Ashburn Consulting

Leesburg, Virginia, United States

Ashburn Consulting is an information technology consulting firm that specializes in providing network engineering and cybersecurity solutions to federal, state and local governments and commercial clients. Ashburn Consulting is based in Leesburg, Virginia.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-06-23 KKSP Precision Machining

Glendale Heights, Illinois, United States

KKSP Precision Machining is a contract manufacturer of high-volume, medium-tolerance, precision-machined metal components for a variety of applications. K&K specializes in brass components and is the largest Davenport screw machine operator in the United States. KKSP Precision Machining was founded in 1968 and is based in Glendale Heights, Illinois.

Buy -
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