M&A Deal Summary

Madison Dearborn Partners Acquires Things Remembered

On May 30, 2012, private equity firm Madison Dearborn Partners acquired consumer products company Things Remembered from BRS and Gordon Brothers Finance for 295M USD

Acquisition Highlights
  • This is Madison Dearborn Partners’ 2nd transaction in the Consumer Products sector.
  • This is Madison Dearborn Partners’ 21st largest (disclosed) transaction.
  • This is Madison Dearborn Partners’ 47th transaction in the United States.
  • This is Madison Dearborn Partners’ 3rd transaction in Ohio.
Investment Fate
  • Things Remembered was sold to a strategic buyer in 2019.

M&A Deal Summary
Date 2012-05-30
Target Things Remembered
Sector Consumer Products
Buyer(s) Madison Dearborn Partners
Sellers(s) BRS
Gordon Brothers Finance
Deal Type Secondary Buyout
Deal Value 295M USD
Advisor(s) Oppenheimer & Co. (Financial)
Paul Hastings (Legal)

Target

Things Remembered

Highland Heights, Ohio, United States
Things Remembered is a personalized gift chain providing solutions for all gift-giving occasions through more than 650 stores across the U.S. and through its catalogs and website. The Company specializes in personalizing gifts through its engraving and monogramming technology.

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Buyer(S) 1

Buyer

Madison Dearborn Partners

Chicago, Illinois, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1992
PE ASSETS 28.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Madison Dearborn Partners (MDP) is a large private equity firm that targets buyouts of private or publicly held companies, divestitures of larger companies, recapitalizations of family-owned or closely-held companies, acquisition-oriented financings, and financings to fund internal growth. MDP's target investment size is $100 to $600 million in buyout oriented transactions and $100 to $400 million in growth capital commitments. Areas of interest include basic industries (natural resources, chemicals, energy and power, automotive, building products, food, metals and mining, refining, paper, packaging and forest products, and general manufacturing), as well as communications, consumer products/services, financial services, and healthcare. Madison Dearborn Partners was formed in 1992 and is based in Chicago, Illinois.

DEAL STATS #
Overall 51 of 99
Sector (Consumer Products) 2 of 2
Type (Secondary Buyout) 5 of 19
State (Ohio) 3 of 3
Country (United States) 47 of 85
Year (2012) 2 of 6
Size (of disclosed) 21 of 23
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-03-19 Schrader International

Englewood, Colorado, United States

Schrader is a manufacturer and only vertically integrated supplier of Tire Pressure Monitoring Systems (“TPMS”) and the leader in fluid control components for a diverse range of automotive and industrial end markets.

Buy $505M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-07-09 Bolthouse Farms

Bakersfield, California, United States

Bolthouse Farms is a vertically integrated carrot and premium beverage manufacturer and distributor serving a broad customer base, including traditional retail grocery stores, mass merchants, club stores, and the natural foods channel. Bolthouse Farms was founded in 1915 and is based in Bakersfield, California.

Sell $1.6B

Seller(S) 2

SELLER

BRS

New York, New York, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1995
PE ASSETS 1.2B USD
Size Large
Type Sector Agnostic
DESCRIPTION

BRS is a private equity investment firm that specializes in management buyouts and recapitalizations of middle-market companies with strong market positions and growth potential. Broad areas of interest include consumer products, consumer services, food/nutrition, restaurants, retail, and distribution. BRS looks to commit $10 to $25 million per transaction. BRS was formed in 1995 and is based in New York, New York.

DEAL STATS #
Overall 26 of 35
Sector (Consumer Products) 2 of 5
Type (Secondary Buyout) 11 of 13
State (Ohio) 3 of 4
Country (United States) 25 of 33
Year (2012) 2 of 3
Size (of disclosed) 5 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-03-09 Ruth s Hospitality Group

Winter Park, Florida, United States

Ruth's Hospitality Group is an American restaurant company that owns and operates several upscale dining establishments across the United States and internationally. The company is best known for its flagship brand, Ruth's Chris Steak House, which specializes in high-quality steaks, seafood, and other classic American fare. With over 150 locations in various countries, Ruth's Hospitality Group has built a reputation for providing a luxurious and welcoming dining experience, with an emphasis on personalized service and attention to detail. In addition to its flagship brand, the company also operates other fine dining concepts, such as Mitchell's Fish Market and Eddie V's Prime Seafood, catering to a diverse range of tastes and preferences. Ruth's Hospitality Group was founded in 1965 and is based in Winter Park, Florida.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-11-01 AMF

Mechanicsville, Virginia, United States

AMF Bowling is a bowling brand and company. AMF Bowling operates approximately 370 bowling centers worldwide and is a bowling products manufacturer and distributor. AMF's product line consists of bowling pins, automatic pin-spotters, synthetic lanes, other bowling products and billiards tables.

Sell -
SELLER

Gordon Brothers Finance

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor

Category Lender
Founded 1903
PE ASSETS 500M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

GB Merchant Partners (GB) is the private investment arm of the Gordon Brothers Group. GB looks to make traditional private equity investments as well as provide structured loans and acquire secondary debt instruments. Within private equity, GB seeks investments in all segments of the consumer products and services sectors, including retail, distribution, wholesale, licensing and manufacturing. Target companies 'usually have meaningful brand equity, or a product or service that is capable of creating a leading and defensible market position'. Prospective transactions include management buyouts, growth capital financings, as well as restructurings or turnarounds. GB is based in Boston with an additional office in New York City.

DEAL STATS #
Overall 8 of 10
Sector (Consumer Products) 1 of 1
Type (Secondary Buyout) 3 of 3
State (Ohio) 1 of 1
Country (United States) 5 of 7
Year (2012) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-10-11 Buffalo Wild Wings - Wing Business

Minneapolis, Minnesota, United States

Buffalo Wild Wings, Inc. - Wing Business is a 16 restaurants in central Indiana to Consolidated Wings.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-03-10 Ashley Stewart

Secaucus, New Jersey, United States

Ashley Stewart is a global lifestyle brand for plus size women’s fashion. Ashley Stewart offers on-trend clothing and accessories through 89 retail stores across the country, a leading social media platform and a rapidly growing e-commerce platform. Ashley Stewart was founded in 1991 and is based in Secaucus, New Jersey.

Sell -
Mergr

Product

Company

Legal