M&A Deal Summary

L Catterton Partners, CCMP Capital and Constitution Capital Partners Acquire RealTruck

On December 8, 2020, growth capital firm L Catterton Partners, private equity firm CCMP Capital and private equity firm Constitution Capital Partners acquired automotive company RealTruck from CCMP Capital

Acquisition Highlights
  • This is L Catterton Partners’ 4th, CCMP Capital’s 4th and Constitution Capital Partners’ 2nd transaction in the Automotive sector.
  • This is L Catterton Partners’ 111th, CCMP Capital’s 75th and Constitution Capital Partners’ 58th transaction in the United States.
  • This is L Catterton Partners’ 2nd, CCMP Capital’s 3rd and Constitution Capital Partners’ 2nd transaction in Michigan.

M&A Deal Summary

Date 2020-12-08
Target RealTruck
Sector Automotive
Buyer(s) L Catterton Partners
CCMP Capital
Constitution Capital Partners
Sellers(s) CCMP Capital
Deal Type Secondary Buyout
Advisor(s) Jefferies
Baird (Financial)
Ropes & Gray (Legal)

Target

RealTruck

Ann Arbor, Michigan, United States
RealTruck is a designer, manufacturer and marketer of branded consumer accessories for pickup trucks. RealTruck also produces truck bed liners under the BedRug brand. RealTruck was founded in 2007 and is based in Ann Arbor, Michigan.

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Buyer(S) 3

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 178 of 221
Sector: Automotive M&A 4 of 5
Type: Secondary Buyout M&A Deals 13 of 20
State: Michigan M&A 2 of 2
Country: United States M&A 111 of 133
Year: 2020 M&A 15 of 16
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-12-02 Function of Beauty

New York, New York, United States

Function of Beauty is a producer of hair, skin, and body care products. Function of Beauty was founded in 2015 and is based in New York City.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-12-11 Better

New York, New York, United States

Better is a digital-first homeownership company that provides included mortgage, real estate, title, and homeowners insurance services. The company funded $30.9B in home loans and provided over $7B in cumulative coverage through Better Cover and Better Settlement Services, the insurance divisions of Better. Better was formed in 2016 and is based in New York city.

Buy -
Buyer

CCMP Capital

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1984
PE ASSETS 16.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

CCMP Capital is a large private equity firm focused on buyout and growth equity valued up to $2 billion. Sectors of interest include consumer, retail, and services (specialty retail, direct marketing, consumer packaged goods); media/telecom (consumer and trade publishing, content and programming, broadcasting, cable, wireless and wire line communications ); industrial (chemicals, manufacturing, distribution, automotive); energy (exploration and production, power generation, renewable energy, services); and healthcare (services, pharmaceuticals, medical devices). The Firm's target investment size is $100 to $500 million. CCMP Capital Advisors was formed in 1984 and was spun off in 2006 from JP Morgan Chase. The Firm is based in New York City.


DEAL STATS #
Overall 97 of 97
Sector: Automotive M&A 4 of 4
Type: Secondary Buyout M&A Deals 21 of 21
State: Michigan M&A 3 of 3
Country: United States M&A 75 of 75
Year: 2020 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-03-11 BGIS

Markham, Ontario, Canada

BGIS is a provider of facility management, project delivery, energy & sustainability, asset management, workplace advisory, and real estate services. BGIS was established in 1992 and is based in Markham, Ontario.

Buy $1.0B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-03-11 Hayward Industries

Charlotte, North Carolina, United States

Hayward Industries is a manufacturer of residential and commercial pool equipment and industrial flow control products. Hayward markets a full line of energy efficient pool and spa equipment including pumps, filters, heaters, cleaners, salt chlorinators, automation, lighting, safety, and flow control products. Hayward Industries was incorporated in 1925 and is based in Charlotte, North Carolina.

Sell -
Buyer
DESCRIPTION

Constitution Capital Partners is a private equity and asset management firm focused on opportunities throughout North America. Constitution Capital typically invests in private equity partnerships, however the Firm also makes direct private equity and credit investments. Constitution Capital Partners does not have any sector preferences. Constitution Capital Partners was formed in 2008 and is headquartered in Andover, Massachusetts.


DEAL STATS #
Overall 62 of 88
Sector: Automotive M&A 2 of 3
Type: Secondary Buyout M&A Deals 23 of 40
State: Michigan M&A 2 of 3
Country: United States M&A 58 of 82
Year: 2020 M&A 7 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-12-01 Market Performance Group

Princeton Junction, New Jersey, United States

Market Performance Group is an omnichannel commerce agency providing strategy and consulting services. MPG offers end-to-end omnichannel capabilities and integrated solutions for a wide range of strategy and commercialization needs, including strategy & business consulting, omnichannel strategy & services, business analytics & insights, consumer marketing & retail activation, order to cash/3 PL, and FleXforce. Market Performance Group was formed in 2002 and is headquartered in Princeton Junction, New Jersey.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-01-05 Aurorium

Indianapolis, Indiana, United States

Aurorium is a manufacturer of high-value specialty chemicals used in the agroscience, nutrition, pharmaceutical, personal care, and performance materials markets. Aurorium producer of pyridine and picoline chemicals that function as key intermediates in the manufacturing of herbicides, insecticides, biocides, and a range of pharmaceutical and industrial products. Aurorium was founded in 1857 and is based in Indianapolis, Indiana.

Buy -

Seller(S) 1

SELLER

CCMP Capital

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1984
PE ASSETS 16.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

CCMP Capital is a large private equity firm focused on buyout and growth equity valued up to $2 billion. Sectors of interest include consumer, retail, and services (specialty retail, direct marketing, consumer packaged goods); media/telecom (consumer and trade publishing, content and programming, broadcasting, cable, wireless and wire line communications ); industrial (chemicals, manufacturing, distribution, automotive); energy (exploration and production, power generation, renewable energy, services); and healthcare (services, pharmaceuticals, medical devices). The Firm's target investment size is $100 to $500 million. CCMP Capital Advisors was formed in 1984 and was spun off in 2006 from JP Morgan Chase. The Firm is based in New York City.


DEAL STATS #
Overall 75 of 79
Sector: Automotive M&A 4 of 4
Type: Secondary Buyout M&A Deals 22 of 23
State: Michigan M&A 2 of 2
Country: United States M&A 58 of 62
Year: 2020 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-03-11 BGIS

Markham, Ontario, Canada

BGIS is a provider of facility management, project delivery, energy & sustainability, asset management, workplace advisory, and real estate services. BGIS was established in 1992 and is based in Markham, Ontario.

Buy $1.0B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-03-11 Hayward Industries

Charlotte, North Carolina, United States

Hayward Industries is a manufacturer of residential and commercial pool equipment and industrial flow control products. Hayward markets a full line of energy efficient pool and spa equipment including pumps, filters, heaters, cleaners, salt chlorinators, automation, lighting, safety, and flow control products. Hayward Industries was incorporated in 1925 and is based in Charlotte, North Carolina.

Sell -