M&A Deal Summary

Mandarin Hotel Holdings Acquires Leeann Chin

On March 1, 2007, Mandarin Hotel Holdings acquired restaurant Leeann Chin from Navigation Capital Partners and Weston Presidio

Acquisition Highlights
  • This is Mandarin Hotel Holdings’ 1st transaction in the Restaurants sector.
  • This is Mandarin Hotel Holdings’ 1st transaction in the United States.
  • This is Mandarin Hotel Holdings’ 1st transaction in Minnesota.

M&A Deal Summary
Date 2007-03-01
Target Leeann Chin
Sector Restaurants
Buyer(s) Mandarin Hotel Holdings
Sellers(s) Navigation Capital Partners
Weston Presidio
Deal Type Add-on Acquisition

Target

Leeann Chin

Bloomington, Minnesota, United States
Leeann Chin operates 49 pan-Asian restaurants under quick-service, fast-casual and store-in-store grocery formats in Minnesota and Wisconsin.

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Buyer(S) 1

Buyer

Mandarin Hotel Holdings

China
Category Company
Founded 2006
Sector Leisure
DESCRIPTION

Mandarin Hotel Holdings operates a designer hotel chain in China, with 25 hotels in Beijing, Tianjin, Dalian, Nanjing, Hangzhou and Ningbo. It manages two brands – Crystal Orange Hotel and Orange Hotel.

DEAL STATS #
Overall 1 of 1
Sector (Restaurants) 1 of 1
Type (Add-on Acquisition) 1 of 1
State (Minnesota) 1 of 1
Country (United States) 1 of 1
Year (2007) 1 of 1

Seller(S) 2

SELLER

Navigation Capital Partners

Atlanta, Georgia, United States

Investor

Category Private Equity Firm
Founded 2006
PE ASSETS 340M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Navigation Capital Partners (NCP) is a private equity firm that makes growth and buyout investments in established mid-market companies with longstanding customer relationships, proprietary manufacturing processes, and mission-critical services. Target companies typically have annual sales up to $150 million and the firm can commit between $10 and $40 million of equity capital per transaction. Sectors of interest include engineered industrial products, automotive & recreational vehicle components, building & construction products, packaging products & services, specialty chemicals, value-added distribution, business services, financial services, healthcare services, and transportation/logistics. Navigation Capital Partners is based in Atlanta, Georgia.

DEAL STATS #
Overall 10 of 26
Sector (Restaurants) 1 of 1
Type (Add-on Acquisition) 5 of 12
State (Minnesota) 1 of 1
Country (United States) 10 of 26
Year (2007) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2006-12-01 A. H. Harris & Sons

West Hartford, Connecticut, United States

A.H. Harris distributes building products to the heavy & highway, commercial, industrial and residential markets with the same goal in mind as its founding fathers.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-08-08 HireRight

Nashville, Tennessee, United States

HireRight is a global background screening company that offers innovative solutions to help organizations screen and manage their workforce. HireRight was founded in 1990 and is based in Nashville, Tennessee.

Sell -
SELLER

Weston Presidio

Boston, Massachusetts, United States

Investor Investor

Category Private Equity Firm
Founded 1991
PE ASSETS 3.3B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Weston Presidio is a private investment firm focused on providing growth capital to later stage companies. The Firm looks to commit $10 to $50 million per investment to support growth initiatives, recapitalizations, and management-led buyouts. Sectors of interest include consumer products/services, business services, manufacturing and industrial, media/publishing, healthcare and technology. The Firm prefers to act as the lead investor, but will consider investing in select non-control minority positions. Weston Presidio was formed in 1991 and is based in Boston, Massachusetts.

DEAL STATS #
Overall 19 of 52
Sector (Restaurants) 1 of 2
Type (Add-on Acquisition) 7 of 23
State (Minnesota) 1 of 1
Country (United States) 19 of 49
Year (2007) 1 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-02-08 Evenflo Company

Piqua, Ohio, United States

Evenflo Company is a manufacturer and marketer of infant and juvenile products and is a top supplier of infant and juvenile products to key retailers such as Toys “R” Us, Babies “R” Us, Wal-Mart, Target, Buy Buy Baby and Kmart.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-05-31 Scene7

San Francisco, California, United States

Scene7, Inc. enables sophisticated Internet commerce by providing an integrated suite of visual merchandising technologies, which include visual wrapping, 3D viewing and coordinating. Scene7, which began by developing the technology behind GoodHome.com, helps online businesses produce timely, interactive web sites that drive sales through advanced visualization and customization functionalities.

Sell -
Mergr

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