M&A Deal Summary

Lil Drug Store Products Acquires Convenience Valet

On August 26, 2020, Lil Drug Store Products acquired distribution company Convenience Valet from Tecum Capital and Weinberg Capital Group

Acquisition Highlights
  • This is Lil Drug Store Products’ 1st transaction in the Distribution sector.
  • This is Lil Drug Store Products’ 1st transaction in the United States.
  • This is Lil Drug Store Products’ 1st transaction in Illinois.

M&A Deal Summary
Date 2020-08-26
Target Convenience Valet
Sector Distribution
Buyer(s) Lil Drug Store Products
Sellers(s) Tecum Capital
Weinberg Capital Group
Deal Type Add-on Acquisition
Advisor(s) Cowen Group, Inc. (Financial)
Benesch, Friedlander, Coplan & Aronoff (Legal)

Target

Convenience Valet

Glendale Heights, Illinois, United States
Convenience Valet is a value-added distributor of blister pack (windowed) branded convenience/travel size health and beauty care products, over-the-counter drugs, personal care products and sundries sold in small-portion packages. Convenience Valet was established in 1946 and is based in Glendale Heights, Illinois.

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Buyer(S) 1

Buyer

Lil Drug Store Products

Cedar Rapids, Iowa, United States
Category Company
Founded 1974
Sector Distribution
DESCRIPTION

Lil' Drug Store Products is a distributor of a wide variety of products to over 100,000 stores in the U.S. and a supplier of health and beauty care products to the convenience retail trade. Lil' Drug Store Products was founded in 1974 and is based in Cedar Rapids, Iowa.

DEAL STATS #
Overall 1 of 1
Sector (Distribution) 1 of 1
Type (Add-on Acquisition) 1 of 1
State (Illinois) 1 of 1
Country (United States) 1 of 1
Year (2020) 1 of 1

Seller(S) 2

SELLER

Tecum Capital

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2005
PE ASSETS 750M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Tecum Capital is a private equity firm focused on lower middle-market companies across the Eastern-US. Tecum will consider a variety of investment situations including leveraged buyouts, management buyouts, successions, strategic acquisitions, growth capital financings, and recapitalizations. Investment sizes range from $5 - $20 million. Industries of interest include manufacturing, plastics, specialty distribution, technology, healthcare services, defense, food, and business/consumer services. Tecum will not consider investments in start-ups or real estate. Tecum Capital was formed in 2005 and is based in Wexford, Pennsylvania.

DEAL STATS #
Overall 12 of 24
Sector (Distribution) 1 of 3
Type (Add-on Acquisition) 4 of 9
State (Illinois) 1 of 2
Country (United States) 12 of 24
Year (2020) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-05-08 Conco

Verona, Pennsylvania, United States

Conco is a provider of low-pressure, mechanical heat exchanger tube cleaning and non-destructive testing services to power generation and industrial companies. Conco’s proprietary product applications result in significant cost savings for its customers through immediate improvements in plant heat transfer rate, megawatt output, fuel consumption, and CO2 emissions, while reducing water usage, time, and expense in the cleaning process. Conco was founded in 1923 and is based in Verona, Pennsylvania.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-09-01 Uncle Charley s Sausage

Vandergrift, Pennsylvania, United States

Uncle Charley's Sausage produces and distributes gourmet sausage and meat products to retail markets throughout six states, including Pennsylvania, West Virginia, Ohio, and Maryland. Uncle Charley's Sausage was founded in 1988 and is based in Vandergrift, Pennsylvania.

Sell -
SELLER

Weinberg Capital Group

Cleveland, Ohio, United States

Investor Investor Investor

Category Family Office
Founded 2003
Size Small
Type Sector Agnostic
DESCRIPTION

Weinberg Capital Group is a Midwestern US-based investment firm focused on real estate and private equity investments. Weinberg's private equity group targets control investments in lower middle-market, North American, profitable companies with $10 to $100 million of revenue. Sectors of interest include manufacturing, business services, medical and healthcare, aviation services, consumer products, and value-added distribution. Weinberg's real estate group targets opportunities in retail, multi-family, office, and industrial properties. Weinberg Capital Group was formed in 2003 and is based in Cleveland, Ohio.

DEAL STATS #
Overall 8 of 9
Sector (Distribution) 1 of 1
Type (Add-on Acquisition) 4 of 4
State (Illinois) 1 of 1
Country (United States) 8 of 9
Year (2020) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-01-14 AeroRepair

Londonderry, New Hampshire, United States

AeroRepair is an independent Maintenance, Repair, and Overhaul (MRO) platform in North America with a focus on wheels, brakes, batteries and landing gears, serving a highly attractive and diverse group of regional and mainline airlines as well as corporate fleets and narrow and wide-body aircraft. AeroRepair's sister-company, Hemico, provides Parts Manufacturer Approval engineering services, as well as Designated Engineering Representative, approved repairs. AeroRepair offers its customers complete wheel and brake management solutions including high-quality workmanship, leading turn-times, asset management, and logistics services. AeroRepair is based in Londonderry, New Hampshire.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-09-20 Drake Waterfowl Systems

Olive Branch, Mississippi, United States

Drake Waterfowl Systems is a provider of hunting gear, hunting boots, hunting waders, and hunting clothes made especially for duck hunters by duck hunters. Drake Waterfowl Systems was founded in 2002 and is based in Olive Branch, Mississippi.

Buy -
Mergr

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