M&A Deal Summary

Main Street Capital Acquires Robbins Brothers

On January 13, 2022, private equity firm Main Street Capital acquired retailer Robbins Brothers from Comvest Partners

Acquisition Highlights
  • This is Main Street Capital’s 7th transaction in the Retail sector.
  • This is Main Street Capital’s 127th transaction in the United States.
  • This is Main Street Capital’s 11th transaction in California.

M&A Deal Summary
Date 2022-01-13
Target Robbins Brothers
Sector Retail
Buyer(s) Main Street Capital
Sellers(s) Comvest Partners
Deal Type Secondary Buyout
Advisor(s) Kroll
Capstone Partners (Financial)
McDermott Will & Emery (Legal)

Target

Robbins Brothers

Azusa, California, United States
Robbins Brothers operates retail jewelry stores in California, Texas, Washington, Arizona, and online, primarily in the bridal segment. The company provides extensive product education, exceptional quality and value and steadfast commitment to its customers. Robbins Brothers was founded in 1921 and is based in Azusa, California.

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Buyer(S) 1

Buyer

Main Street Capital

Houston, Texas, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1997
PE ASSETS 3.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Main Street Capital Holdings is a public investment firm that invests in mid-market companies to support ownership transitions, recapitalizations, strategic acquisitions, business expansion and other growth initiatives. Main Street looks for businesses opearting in basic industries with positive cash-flow and and defensible competitive advantages. Main Street generally invests $5 to $75 million in companies with $10 to $150 million of revenue and EBITDA of $3 to $20 million. Investments are usually in the form of term debt and/or direct equity. Main Street Capital Corporation was formed in 1997 and is based in Houston, Texas.

DEAL STATS #
Overall 127 of 137
Sector (Retail) 7 of 7
Type (Secondary Buyout) 11 of 12
State (California) 11 of 13
Country (United States) 127 of 137
Year (2022) 2 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-01-05 Career Team

North Haven, Connecticut, United States

Career Team is a provider of workforce development services and learning and case management software solutions to regional workforce development boards, federally and state-funded work programs, and higher learning institutions across the country. Career Team was founded in 1996 and North Haven, Connecticut.

Buy $25M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-03-15 Batjer & Associates

Abilene, Texas, United States

Batjer & Associates is a provider of mechanical HVAC and plumbing contracting services, including installation, renovation, repair and replacement services for commercial and residential applications. Batjer & Associates was founded in 1947 and is headquartered in Abilene, Texas.

Buy -

Seller(S) 1

SELLER

Comvest Partners

West Palm Beach, Florida, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2000
PE ASSETS 7.7B USD
Size Mega
Type Sector Agnostic
DESCRIPTION
Comvest Partners' headquarters in West Palm Beach, Florida.
Comvest Partners' headquarters in West Palm Beach, Florida.

Comvest Partners is a private investment firm that provides equity and debt capital to middle-market companies across North America. Comvest funds a variety of investment situations, including buyouts, divestitures, recapitalizations, consolidations, take privates, and turnarounds. Sectors of interest include business services, information services, education, financial services, healthcare services, software, IT, and transportation. For equity investments, Comvest prefers control and looks to invest $50 to $150 million per transaction. For debt needs, Comvest seeks to provide $25 to $250 million per transaction. Comvest Partners was formed in 2000 and is based in West Palm Beach, Florida.

DEAL STATS #
Overall 38 of 40
Sector (Retail) 2 of 2
Type (Secondary Buyout) 5 of 5
State (California) 2 of 2
Country (United States) 38 of 40
Year (2022) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-11-22 Renovation Brands

Florence, Alabama, United States

Renovation Brands is a distributor and retailer of electric fireplaces, electric heating appliances, customized fireplace mantels, and outdoor heating products. Renovation Brands was founded in 2002 and is based in Florence, Alabama.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-04-05 Encompass Supply Chain Solutions

Lawrenceville, Georgia, United States

Encompass Supply Chain Solutions is a distributor of repair parts and accessories for products throughout the home. Encompass also offers complete parts supply chain management, 3PL, depot repair and reverse logistics services. In addition to consumers, Encompass supports an array of B2B customers, including manufacturers, multi-family property management companies, warranty providers, service networks, independent dealers and retailers. Encompass Supply Chain Solutions was founded in 1953 and is based in Lawrenceville, Georgia.

Sell -
Mergr

Product

Company

Legal