M&A Deal Summary

L Catterton Partners Acquires Len the Plumber

On March 22, 2022, growth capital firm L Catterton Partners acquired business services company Len the Plumber from Thompson Street Capital Partners

Acquisition Highlights
  • This is L Catterton Partners’ 3rd transaction in the Business Services sector.
  • This is L Catterton Partners’ 126th transaction in the United States.
  • This is L Catterton Partners’ 1st transaction in Maryland.

M&A Deal Summary
Date 2022-03-22
Target Len the Plumber
Sector Business Services
Buyer(s) L Catterton Partners
Sellers(s) Thompson Street Capital Partners
Deal Type Secondary Buyout

Target

Len the Plumber

Baltimore, Maryland, United States
Len the Plumber is a residential services company with a specialization in plumbing and HVAC services, operating across the Mid-Atlantic and Southeast regions under six brands. The company provides professional, same-day service seven days a week, with technicians working around customer schedules, never charging extra for same-day, evening, or weekend appointments, and dispatched based on specialization. Len the Plumber was founded in 1996 and is based in Baltimore, Maryland.

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Buyer(S) 1

Buyer

L Catterton Partners

Greenwich, Connecticut, United States

Investor Investor Investor Investor Investor

Category Growth Capital Firm
Founded 1989
PE ASSETS 30.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

L Catterton is a private equity firm that targets investments in consumer-related companies located throughout North America. L Catterton looks for businesses with identifiable brands and operating in 'defensible and extensible' positions within growth industry segments. Specific sectors of interest include branded consumables, food/beverages, consumer services, restaurants, media and marketing, household durables, specialty retail, mass merchant retail, and luxury/apparel. Prospective transactions include management buyouts, recapitalizations, turnarounds, and growth financings. L Catterton was formed in 1990 and is based in Greenwich, Connecticut.

DEAL STATS #
Overall 209 of 221
Sector (Business Services) 3 of 3
Type (Secondary Buyout) 17 of 20
State (Maryland) 1 of 1
Country (United States) 126 of 133
Year (2022) 8 of 10
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-03-09 Little Moons

London, United Kingdom

Little Moons is a family-run ice cream company in UK. Little Moons produces delicious bite-sized artisanal gelato ice cream treats cased in a soft, chewy mochi dough. Little Moons was founded in 2010 and is based in London, United Kingdom.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-06-01 Kettle Cuisine

Chelsea, Massachusetts, United States

Kettle Cuisine is an independent, artisan soup maker providing uncompromised soup with a commitment to impeccable ingredients, careful preparation and traditional cooking techniques. The company offers a selection of over 50 varieties of soups, chilis and chowders, and services over 5,000 restaurants, cafes, delicatessens and supermarkets in the United States. Kettle Cuisine was founded in 1986 and is based in Chelsea, Massachusetts.

Buy -

Seller(S) 1

SELLER

Thompson Street Capital Partners

St. Louis, Missouri, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2001
PE ASSETS 2.6B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Thompson Street Capital Partners is a private equity firm that targets control stakes in profitable, mid-sized North American companies with $5 to $20 million of EBITDA. Thompson Street looks for family businesses, private companies seeking liquidity, corporate divestitures, and public companies going private. Areas of interest include healthcare services, business services, electronics, information technology, and engineered products companies. Thompson Street will not consider investments in start-ups, early stage companies, or real estate. Thompson Street Capital was founded in 2000 and is based in St. Louis, Missouri.

DEAL STATS #
Overall 41 of 47
Sector (Business Services) 2 of 3
Type (Secondary Buyout) 14 of 17
State (Maryland) 2 of 2
Country (United States) 41 of 47
Year (2022) 3 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-01-25 Infinity Behavioral Health Services

Lauderdale Lakes, Florida, United States

Infinity Behavioral Health Services is a provider of revenue cycle management services for the behavioral health industry. Infinity Behavioral Health Services is based in Lauderdale Lakes, Florida.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-04-06 Healthcare Linen Services Group

Batavia, Illinois, United States

Healthcare Linen Services Group is a provider of outsourced linen management services to the healthcare industry. The companies serve hospitals, clinics and nursing homes across the upper and central Midwest through their state-of-the-art facilities while maintaining a dedicated focus on providing outstanding customer service. Healthcare Linen Services Group is based in Batavia, Illinois.

Sell -
Mergr

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