M&A Deal Summary

Kilroy Partners and Source Capital Acquire Cheeze Kurls

On July 1, 2020, private equity firms Kilroy Partners and Source Capital acquired food company Cheeze Kurls

Acquisition Highlights
  • This is Kilroy Partners’ 1st and Source Capital’s 1st transaction in the Food sector.
  • This is Kilroy Partners’ 4th and Source Capital’s 25th transaction in the United States.
  • This is Kilroy Partners’ 2nd and Source Capital’s 3rd transaction in Michigan.

M&A Deal Summary

Date 2020-07-01
Target Cheeze Kurls
Sector Food
Buyer(s) Kilroy Partners
Source Capital
Deal Type Buyout (LBO, MBO, MBI)

Target

Cheeze Kurls

Walker, Michigan, United States
Cheeze Kurls is a private label snack food manufacturing company, with a focus on popcorn, cheese puffs and balls, and other salty snacks. Cheeze Kurls was founded in 1964 and based in Walker, Michigan.

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Buyer(S) 2

DESCRIPTION

Kilroy Partners is a private investment firm focused on investing in lower middle-market, family-owned businesses, corporate divestitures, and other non-performing or challenged companies. The Firm will consider opportunities throughout North America valued up to $75 million. Sectors of interest include aerospace, defense, niche manufacturing, food, and transportation. Kilroy Partners was formed in 2014 and is headquartered in Boca Raton, Florida.


DEAL STATS #
Overall 4 of 6
Sector: Food M&A 1 of 1
Type: Buyout (LBO, MBO, MBI) M&A Deals 3 of 4
State: Michigan M&A 2 of 2
Country: United States M&A 4 of 6
Year: 2020 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-08-14 Wollard International

Eau Claire, Wisconsin, United States

Wollard International is a provider of aviation ground support equipment (“GSE”), including push-back and baggage tractors, belt loaders, passenger stairs and maintenance lifts. The Company services the commercial airline, military and other private aviation segments. Wollard International is based in Eau Claire, Wisconsin.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-05-21 Seaside Waste Services

Hammonton, New Jersey, United States

Seaside Waste Services is a provider of non-hazardous solid waste and recycling collection throughout central and southern New Jersey. Seaside services over 2,000 commercial customers and over a dozen municipalities. The company also offers dumpster rentals and roll-away services to both commercial and residential customers. Seaside Waste Services was founded in 1971 and is based in Hammonton, New Jersey.

Buy -
Buyer

Source Capital

Atlanta, Georgia, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2002
Size Small
Type Sector Agnostic
DESCRIPTION

Source Capital is a private equity firm that invests in mature, smaller companies in a variety of sectors. The Firm generally looks to support management-backed leveraged acquisitions, recapitalizations, growth financings, and various turnaround situations. Source Capital's broad industry focus includes business services, consumer, distribution/supply, healthcare, and light manufacturing. The Firm prefers control investments, but will selectively review minority situations. Target companies are typically profitable with at least $2 million in EBITDA. Source Capital will not invest in venture deals, high tech, or real estate. Source Capital was formed in 2002 and is based in Atlanta, Georgia.


DEAL STATS #
Overall 25 of 42
Sector: Food M&A 1 of 1
Type: Buyout (LBO, MBO, MBI) M&A Deals 14 of 21
State: Michigan M&A 3 of 3
Country: United States M&A 25 of 42
Year: 2020 M&A 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-06-20 Aerial Access Equipment

Baton Rouge, Louisiana, United States

Aerial Access Equipment is a provider of heavy equipment rental, sales, and repair services focused on aerial work platforms, boom lifts, scissor lifts, and related lift equipment. Aerial Access Equipment was founded in 1998 and is based in Baton Rouge, Louisiana.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-07-20 Eastern Datacomm

Hackensack, New Jersey, United States

Eastern Datacomm is a provider of integrated communication and security systems with a key focus on the K-12 education sector. EDI serves as strategic communication and technology partner for companies across multiple sectors. EDI’s signature offering is its patented Lockdown & Emergency Notification System (“LENS”), which integrates multiple communications technologies to provide an automated lockdown and emergency notification solution for schools. Eastern DataComm was founded in 1988 and is based in Hackensack, New Jersey.

Buy -