Recapitalization • Retail

Main Street Capital Acquires Smoker Friendly

On January 7, 2021, private equity firm Main Street Capital acquired retailer Smoker Friendly

Acquisition Context
  • This is Main Street Capital’s 5th transaction in the Retail sector.
  • This is Main Street Capital’s 115th transaction in the United States.
  • This is Main Street Capital’s 9th transaction in Colorado.

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M&A Deal Summary

Date January 7, 2021
Target Smoker Friendly
Sector Retail
Buyer(s) Main Street Capital
Deal Type Recapitalization

Target Company

Smoker Friendly

Boulder, Colorado, United States
Smoker Friendly is a major tobacco-focused retail store operator in the United States offering a wide range of tobacco products. Its stores also sell fuel, alcohol, lottery, and other convenience-store essentials. Smoker Friendly was founded in 1989 and is based in Boulder, Colorado.
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Buyer Overview 1

Buyer

Main Street Capital

Houston, Texas, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1997
PE ASSETS 8.7B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Main Street Capital 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 $125 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 was formed in 1997 and is based in Houston, Texas.


Deal Context for Buyer #
Overall 115 of 146
Sector: Retail 5 of 7
Type: Recapitalization 41 of 63
State: Colorado 9 of 11
Country: United States 115 of 146
Year: 2021 2 of 13
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-01-06 Heritage Vet Partners

West Point, Nebraska, United States

Heritage Vet Partners is a provider of veterinary products and services to livestock production farms and companion animal owners throughout the midwestern United States. Heritage Vet Partners was founded in 1985 and is based in West Point, Nebraska.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-04-06 Colonial Electric

Harwood, Maryland, United States

Colonial Electric is a provider of electrical contracting services for electrical installation and construction, operations and maintenance. Colonial Electric was founded in 1970 and is based in Harwood, Maryland.

Buy $33M