M&A Deal Summary

Investcorp Acquires Fortune Fish & Gourmet

On February 12, 2020, asset manager Investcorp acquired distribution company Fortune Fish & Gourmet

Acquisition Highlights
  • This is Investcorp’s 9th transaction in the Distribution sector.
  • This is Investcorp’s 71st transaction in the United States.
  • This is Investcorp’s 6th transaction in Illinois.

M&A Deal Summary
Date 2020-02-12
Target Fortune Fish & Gourmet
Sector Distribution
Buyer(s) Investcorp
Deal Type Recapitalization
Advisor(s) Houlihan Lokey (Financial)

Target

Fortune Fish & Gourmet

Bensenville, Illinois, United States
Fortune Fish & Gourmet is a fresh and frozen seafood and specialty food distributor servicing fine restaurants, hotels, country clubs and grocers. Fortune operates a state-of-the art facility in Bensenville, Illinois, located in close proximity to Chicago’s O’Hare International Airport, which enables timely delivery of products across key Midwestern MSAs. In addition to its Bensenville facility, Fortune operates facilities in Minneapolis, Minnesota; St. Louis, Missouri; Kansas City, Missouri; Bayou La Batre, Alabama; Birmingham, Alabama and Picayune, Mississippi. Fortune Fish & Gourmet is formed in 2001 and is based in Bensenville, Illinois.

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Buyer(S) 1

Buyer

Investcorp

New York, New York, United States

Investor Investor Investor Investor Investor

Category Asset Manager
Founded 1982
PE ASSETS 53.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Investcorp is a global investment group focused on a variety of investment disciplines. Practice areas include private equity in North America and Western Europe, hedge funds, US real estate, technology investments, and Middle Eastern private equity. Within North America/Europe private equity, Investcorp targets market leaders with proven track records. It looks to invest $15 to $50 million in companies with revenues of $10 to $250 million. Investcorp's technology group sponsors growth-oriented control investments in the tech sector. Investcorp's Middle East practice focuses on buyout/build opportunities in North Africa and the Gulf Region. Target sectors include services, infrastructure, manufacturing, and energy. Investcorp was formed in 1982 and is based in Manama, Bahrain.

DEAL STATS #
Overall 146 of 176
Sector (Distribution) 9 of 11
Type (Recapitalization) 2 of 2
State (Illinois) 6 of 8
Country (United States) 71 of 81
Year (2020) 1 of 10
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-11-25 Nephrocare Health Services

Hyderabad, India

Nephrocare Health Services is a dialysis provider network offering highest quality dialysis services. NephroPlus has 75 centers currently across 15 states in India performing 600,000 treatments per year. Nephrocare Health Services was established in 2009 and is based in Hyderabad, India.

Buy $45M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-04-09 Avira Operations KG

Tettnang, Germany

Avira Operations GmbH & Co. KG is a cybersecurity software solutions firm serving the OEM (Original Equipment Manufacturer) and Consumer end markets, with over 500 million endpoints protected globally. the Company has developed particular strengths in Anti-Malware, Threat Intelligence, and IoT solutions. Its software provides next-generation security for users’ online identity, finances, and private data, protecting against viruses, malware, ransomware, and other threats. Avira Operations is based in Tettnang, Germany.

Buy $180M
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