M&A Deal Summary

LiDestri Foods Acquires M.H. Zeigler & Sons

On April 8, 2011, LiDestri Foods acquired beverage company M.H. Zeigler & Sons from Clearview Capital, Brookside Equity Partners and New Canaan Funding

Acquisition Highlights
  • This is LiDestri Foods’ 1st transaction in the Beverages sector.
  • This is LiDestri Foods’ 1st transaction in the United States.
  • This is LiDestri Foods’ 1st transaction in Pennsylvania.

M&A Deal Summary

Date 2011-04-08
Target M.H. Zeigler & Sons
Sector Beverages
Buyer(s) LiDestri Foods
Sellers(s) Clearview Capital
Brookside Equity Partners
New Canaan Funding
Deal Type Add-on Acquisition

Target

M.H. Zeigler & Sons

Lansdale, Pennsylvania, United States
M.H. Zeigler & Sons is a manufacturer and distributor of refrigerated apple cider and cider blends.

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Buyer(S) 1

Buyer

LiDestri Foods

Fairport, New York, United States

Category Company
Founded 1975
Sector Food
DESCRIPTION

LiDestri Food & Beverage is the premier manufacturer of sauces, dips and salsas in the United States.


DEAL STATS #
Overall 1 of 1
Sector (Beverages) 1 of 1
Type (Add-on Acquisition) 1 of 1
State (Pennsylvania) 1 of 1
Country (United States) 1 of 1
Year (2011) 1 of 1

Seller(S) 3

SELLER

Clearview Capital

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1999
PE ASSETS 645M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Clearview Capital LLC is a private equity firm that targets investments in North American companies with operating profits between $4 and $20 million. Sectors of interest include general manufacturing, plastics, food processing, furniture, education, healthcare, outsourcing, distribution, oil field services, consumer products, and industrial. The Firm prefers majority investment situations in transaction types that include corporate divestitures, management buyouts, and ownership transfers of closely-held companies. Clearview Capital was formed in 1999 and has offices in Connecticut, California.


DEAL STATS #
Overall 4 of 24
Sector (Beverages) 1 of 1
Type (Add-on Acquisition) 1 of 5
State (Pennsylvania) 1 of 3
Country (United States) 4 of 24
Year (2011) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-12-17 ResultsCX

Fort Lauderdale, Florida, United States

ResultsCX provides automation-enabled customer support, acquisition, enrollment, retention, membership assistance, technical support, and transaction processing services to companies across the healthcare, telecom and cable, media, and retail industries. ResultsCX was founded in 1990 and is based in Fort Lauderdale, Florida.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-07-07 Pyramid Healthcare

Duncansville, Pennsylvania, United States

Pyramid Healthcare is a provider of drug/alcohol and mental health treatment for adults and adolescents with 21 treatment facilities throughout Pennsylvania. Pyramid Healthcare is based in Duncansville, Pennsylvania.

Buy -
SELLER

Brookside Equity Partners

Stamford, Connecticut, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1977
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Brookside Equity Partners (BEP) focuses on private equity investments, including direct control investments, majority or minority co-investments alongside other investment firms, and, on a selective basis, investments in private funds or special situations. BEP targets North American middle-market companies with revenues greater than $15 million and at least $5 million of EBITDA. Sectors of interest include manufacturing, chemicals, financial services, environmental, food, and distribution. Brookside Equity Partners was formed in 1977 and is based in Stamford, Connecticut.


DEAL STATS #
Overall 8 of 28
Sector (Beverages) 1 of 1
Type (Add-on Acquisition) 3 of 8
State (Pennsylvania) 2 of 2
Country (United States) 8 of 28
Year (2011) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-12-27 Boot Barn

Irvine, California, United States

Boot Barn is a specialty retailer of western and work wear. Boot Barn offers western and work boots, jeans, shirts, outer wear, protective work wear, accessories, belts and jewelry. Boot Barn was incorporated in 1978 and is headquartered in Irvine, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-06-15 Equitrac

Plantation, Florida, United States

Equitrac Corp. is a provider of intelligent print management and cost recovery software solutions. The Company provides products that enable customers to manage, allocate, and recover printing costs, reduce print-related waste and cost, and enhance document security. With over 25,000 customer installations worldwide, the Company’s solutions are used by a broad customer base across many industry verticals, including commercial, legal and professional, education, financial services, healthcare, and government agencies. Equitrac has strategic partnerships with world-leading OEMs, including Xerox, Ricoh and Canon, and over 300 independent VARs providing the Company with a powerful distribution channel with extensive global reach.

Sell $161M
SELLER

New Canaan Funding

New Canaan, Connecticut, United States

Category Mezzanine Finance Firm
Founded 1995
PE ASSETS 238M USD
Size Small
Type Sector Agnostic
DESCRIPTION

New Canaan Funding is a middle-market mezzanine finance firm. New Canaan looks to provide subordinated debt to help fund acquisitions, recapitalizations and growth financings. New Canaan invests $3 to $20 million per transaction with an EBITDA of $3 million. New Canaan Funding was formed in 1995 and has offices in New Canaan, Connecticut and Wheaton, Illinois.


DEAL STATS #
Overall 13 of 36
Sector (Beverages) 1 of 1
Type (Add-on Acquisition) 6 of 13
State (Pennsylvania) 1 of 1
Country (United States) 13 of 35
Year (2011) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-12-30 Simply Fresh Foods

Buena Park, California, United States

Simply Fresh Foods produces fresh, all-natural foods for fast-growing segments of the refrigerated products market across a wide range of channels. The company markets its products under several brands. The Rojo’s brand encompasses innovative salsas and dips and is a top label of fresh salsa and layered dips. The company’s San Francisco brand covers a line of seafood salads and has been on the market since 1987.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-05-11 LSO

Austin, Texas, United States

LSO is a provider of parcel delivery services throughout the Southern United States. LSO offers its clients overnight, expedited ground, same-day, and last-mile logistics solutions. LSO was founded in 1991 and is based in Austin, Texas.

Buy -