M&A Deal Summary

L Catterton Partners Acquires Solidcore

On September 25, 2024, growth capital firm L Catterton Partners acquired consumer services company Solidcore from Peterson Partners and VMG Partners

Acquisition Highlights
  • This is L Catterton Partners’ 15th transaction in the Consumer Services sector.
  • This is L Catterton Partners’ 133rd transaction in the United States.
  • This is L Catterton Partners’ 1st transaction in District of Columbia.

M&A Deal Summary
Date 2024-09-25
Target Solidcore
Sector Consumer Services
Buyer(s) L Catterton Partners
Sellers(s) Peterson Partners
VMG Partners
Deal Type Secondary Buyout

Target

Solidcore

Washington, District of Columbia, United States
Solidcore is a boutique fitness studio concept that uses a resistance-based machine called the Sweatlana to give customers a proven and effective full-body workout. A solidcore workout is a high-intensity, low-impact 50-minute session that is done as slowly as possible to lengthen and tone your body. With countless variations of moves stemming from planks, lunges, and squats, the client's body and mind are challenged in every class. solidcore was founded in 2013 and is based in Washington, District of Columbia.

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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 221 of 221
Sector (Consumer Services) 15 of 15
Type (Secondary Buyout) 20 of 20
State (District of Columbia) 1 of 1
Country (United States) 133 of 133
Year (2024) 5 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-09-09 Stenders

Riga, Latvia

Stenders is a premium bath and body care company. The company products are made in Latvia using natural ingredients and include bath bombs, foams, and salts; body butter, creams, lotions, oils, scrubs, and yoghurts, as well as hand creams and lotions. Stenders was founded in 2001 and is based in Riga, Latvia.

Buy -

Seller(S) 2

SELLER

Peterson Partners

Salt Lake City, Utah, United States

Investor Investor Investor Investor Investor

Category Asset Manager
Founded 1995
PE ASSETS 350M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Peterson Partners is a private equity firm that targets investments in lower middle-market growth companies located in the Western US. Peterson looks to commit between $5 and $25 million of equity in companies generating sales of at least $5 million. Sectors of interest include consumer products and services, business services, and manufacturing. Peterson Partners was formed in 1995 and is based in Salt Lake City, Utah.

DEAL STATS #
Overall 33 of 33
Sector (Consumer Services) 1 of 1
Type (Secondary Buyout) 12 of 12
State (District of Columbia) 1 of 1
Country (United States) 30 of 30
Year (2024) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-01-11 Gravity Media

Watford, United Kingdom

Gravity Media is a provider of broadcasting equipment and solutions. Gravity Media delivers outside broadcast, project solutions, broadcasting equipment rental, equipment sales and systems integration to broadcasters, production companies, and content rights holders across the world. Gravity Media was established in 2000 and is based in Watford, United Kingdom.

Sell -
SELLER

VMG Partners

San Francisco, California, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2005
PE ASSETS 2.6B USD
Size Large
Type Sector Focused
DESCRIPTION

VMG Partners is a private equity firm focused on early and growth stage investing in consumer products companies. VMG has a specific interest in the lifestyle, wellness, food and beverage, personal care, pet and leisure sectors of the consumer products industry. VMG targets US-based companies with revenues between $1 and $500 million. VMG was formed in 2005 and has offices in San Francisco and Los Angeles.

DEAL STATS #
Overall 24 of 24
Sector (Consumer Services) 1 of 1
Type (Secondary Buyout) 2 of 2
State (District of Columbia) 1 of 1
Country (United States) 23 of 23
Year (2024) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-01-16 nutpods

Bellevue, Washington, United States

nutpods is an independent, natural foods manufacturer, dedicated to introducing dairy-free creamers from plant-based ingredients. nutpods quickly found a loyal consumer base with Whole30, paleo, keto, vegan and vegetarian consumers who appreciate a high quality, plant-based creamer in their coffee and tea. nutpods was founded in 2015 and is based in Bellevue, Washington.

Sell -
Mergr

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