M&A Deal Summary

Key Bank Acquires Rauch Industries

On December 13, 2016, Key Bank acquired consumer products company Rauch Industries from Blackstreet Capital Management for 6M USD

Acquisition Highlights
  • This is Key Bank’s 1st transaction in the Consumer Products sector.
  • This is Key Bank’s 3rd largest (disclosed) transaction.
  • This is Key Bank’s 4th transaction in the United States.
  • This is Key Bank’s 2nd transaction in New York.

M&A Deal Summary

Date 2016-12-13
Target Rauch Industries
Sector Consumer Products
Buyer(s) Key Bank
Sellers(s) Blackstreet Capital Management
Deal Type Add-on Acquisition
Deal Value 6M USD

Target

Rauch Industries

New York, New York, United States
Rauch Industries is a designer and distributor of high-end holiday ornaments, ceramics and other seasonal collectables, all marketed under the brand name Christopher Radko. Rauch Industries was founded in 1952 and is based in New York.

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Buyer(S) 1

Buyer

Key Bank

Cleveland, Ohio, United States

Category Company
Founded 1849
Sector Financial Services
Employees16,752
Revenue 6.2B USD (2023)
DESCRIPTION

Key Bank is a provider of investment management, retail and commercial banking, consumer finance, and investment banking products and services to individuals and companies throughout the United States and, for certain businesses, internationally. Key Bank was founded in 1849 and is based in Cleveland, Ohio.


DEAL STATS #
Overall 4 of 9
Sector (Consumer Products) 1 of 1
Type (Add-on Acquisition) 3 of 6
State (New York) 2 of 2
Country (United States) 4 of 9
Year (2016) 1 of 1
Size (of disclosed) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-10-30 First Niagara Financial Group

Buffalo, New York, United States

First Niagara Financial Group, Inc. is a provider of financial services to individuals, families and businesses across New York, Pennsylvania, Connecticut and Massachusetts.

Buy $4.1B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-05-31 HelloWallet Holdings

Washington, District of Columbia, United States

HelloWallet is a special company with a unique story, fascinating characters and a compelling plot. It was founded in 2009 to democratize access to independent financial guidance for all Americans. Our customers, members and supporters help us tell the story every day. We invite you to learn more here and to be a part of our story.

Buy -

Seller(S) 1

SELLER

Blackstreet Capital Management

Chevy Chase, Maryland, United States

Category Private Equity Firm
Founded 2003
PE ASSETS 200M USD
Size Small
Type Sector Agnostic
DESCRIPTION

Blackstreet Capital is a private equity firm focused on control buyouts of under-performing corporate orphans with $25 to $150 million in revenue. Industries of interest include niche manufacturing, distribution, specialty retail, education and training, healthcare services and devices, and restaurants. Blackstreet invests up to $15 million of equity capital in businesses valued up to $75 million. Blackstreet's average holding period is three to five years. Blackstreet Capital(formerly Milestone Capital Management was founded in 2003 and is based in Bethesda, Maryland.


DEAL STATS #
Overall 22 of 24
Sector (Consumer Products) 2 of 2
Type (Add-on Acquisition) 7 of 8
State (New York) 1 of 1
Country (United States) 7 of 9
Year (2016) 3 of 3
Size (of disclosed) 5 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-11-10 Premier Care

South Daytona, Florida, United States

Premier Care provides safe bathing solutions for seniors, veterans, those with limited mobility, or people living with disabilities.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-01-01 Swift Spinning

Columbus, Georgia, United States

Swift Spinning is a producer of carded and combed ring spun yarn. Swift serves the hosiery, knitting and weaving markets. Swift Spinning was founded in 1906 and is based in Columbus, Georgia.

Sell -