M&A Deal Summary

L Catterton Partners and RunTide Capital Acquire Penumbra Brands

On October 1, 2011, growth capital firms L Catterton Partners and RunTide Capital acquired technology hardware company Penumbra Brands

Acquisition Highlights
  • This is L Catterton Partners’ 2nd and RunTide Capital’s 1st transaction in the Technology Hardware sector.
  • This is L Catterton Partners’ 47th and RunTide Capital’s 1st transaction in the United States.
  • This is L Catterton Partners’ 6th and RunTide Capital’s 1st transaction in California.

M&A Deal Summary

Date 2011-10-01
Target Penumbra Brands
Sector Technology Hardware
Buyer(s) L Catterton Partners
RunTide Capital
Deal Type Buyout (LBO, MBO, MBI)

Target

Penumbra Brands

Encinitas, California, United States
Penumbra Brands is a developer of wireless devices to interact optimally with both wireless networks and users. Penumbra Brands was founded in 2008 and is based in Encinitas, California.

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Buyer(S) 2

Buyer

L Catterton Partners

Greenwich, Connecticut, United States

Investor Investor Investor Investor Investor


Category Growth Capital Firm
Founded 1989
PE ASSETS 37.0B 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 57 of 223
Sector: Technology Hardware M&A 2 of 4
Type: Buyout (LBO, MBO, MBI) M&A Deals 22 of 48
State: California M&A 6 of 25
Country: United States M&A 47 of 134
Year: 2011 M&A 6 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-09-30 Zarbee s

South Jordan, Utah, United States

Zarbee's, Inc. is a manufacturer of natural OTC medicines for a wide variety of common ailments as well as immunity boosting products. Zarbee's, Inc. was founded in 2008 and is based in South Jordan, Utah.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-10-06 ClearChoice Management Services

Greenwood Village, Colorado, United States

ClearChoice Management Services LLC is a provider of comprehensive administrative and non-clinical services to 31 dental implant centers a network of doctor-owned and operated dental treatment centers providing innovative and quality dental implant care in 22 markets across the United States. ClearChoice Management Services was formed in 2004 and is based in Greenwood Village, Colorado.

Buy -
DESCRIPTION

RunTide Capital is a private investment group focused on providing growth capital to expansion stage companies. The Firm looks to commit $15 to $35 million per transaction and will consider opportunities throughout North America and Europe. Sectors of interest include digital media, SaaS, mobile services, digital analytics, digital marketing, e-commerce, communications, and cloud computing. RunTide Capital is based in New York City.


DEAL STATS #
Overall 2 of 5
Sector: Technology Hardware M&A 1 of 1
Type: Buyout (LBO, MBO, MBI) M&A Deals 2 of 2
State: California M&A 1 of 2
Country: United States M&A 1 of 4
Year: 2011 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2005-03-01 CANAL+ Television AB

Cedex, France

CANAL+ Television AB is a premium pay television provider in the Nordic region, serving Sweden, Norway, Finland and Denmark. CANAL+ Television was founded in 2000 and is based in Cedex, France.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-01-13 Adaptix

Carrollton, Texas, United States

Adaptix is a wireless technology developer. Adaptix was founded in 2000 and is based in Carrollton, Texas.

Sell $160M