M&A Deal Summary

Mason Wells, PNC Mezzanine Capital and Cardinal Equity Partners Acquire Buffalo Games

On October 4, 2018, private equity firm Mason Wells, mezzanine finance firm PNC Mezzanine Capital and private equity firm Cardinal Equity Partners acquired consumer products company Buffalo Games

Acquisition Highlights
  • This is Mason Wells’ 4th, PNC Mezzanine Capital’s 7th and Cardinal Equity Partners’ 4th transaction in the Consumer Products sector.
  • This is Mason Wells’ 31st, PNC Mezzanine Capital’s 56th and Cardinal Equity Partners’ 22nd transaction in the United States.
  • This is Mason Wells’ 1st, PNC Mezzanine Capital’s 4th and Cardinal Equity Partners’ 1st transaction in New York.

M&A Deal Summary

Date 2018-10-04
Target Buffalo Games
Sector Consumer Products
Buyer(s) Mason Wells
PNC Mezzanine Capital
Cardinal Equity Partners
Deal Type Buyout (LBO, MBO, MBI)

Target

Buffalo Games

Buffalo, New York, United States
Buffalo Games is a manufacturer and marketer of jigsaw puzzles in the U.S. and provider of party and board games for adults, children, and families. The Company has also developed a growing portfolio of the board, table and party games including titles such as Watch Ya Mouth®, Brain Games™, The Voting Game®, Skee-Ball®, Silly Street™, PlingPong!®, and more. Buffalo Games was founded in 1986 and is based in Buffalo, New York.

Search 214,107 Deals Now

SEARCH BY

  • Buyer Type (PE or Strategic)
  • Deal Size ($10M to $10B+)
  • Sector (60 Sectors)
  • Deal Type
  • Geography
  • & More

Try Free

Buyer(S) 3

Buyer

Mason Wells

Milwaukee, Wisconsin, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1998
PE ASSETS 2.4B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Mason Wells is a private equity firm focused on middle-market buyout opportunities in the Midwest US. Mason Wells looks to invest in businesses operating in engineered products and services, outsourced business services, and specialty packaging. Target companies typically generate revenue of $25 to $300 million and EBITDA of at least $5 million. The Firm prefers businesses with high barriers to entry, limited customer concentration, and strong market positions. Mason Wells was originally formed 1982 as a subsidiary of Marshall & Ilsley Corporation and became an independent firm in 1998. Mason Wells is based in Milwaukee, Wisconsin.


DEAL STATS #
Overall 31 of 40
Sector: Consumer Products M&A 4 of 5
Type: Buyout (LBO, MBO, MBI) M&A Deals 20 of 27
State: New York M&A 1 of 1
Country: United States M&A 31 of 40
Year: 2018 M&A 4 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-09-05 EastPoint Sports

Succasunna, New Jersey, United States

EastPoint Sports designs, sources, and distributes indoor and outdoor home recreational products through mass retail and e-commerce channels. The EastPoint Sports family of brands includes Go! Gater, Majik, Rec-Tek, Classic Sport, Narwhal, NHL, HEAD, PENN, Kan Jam, and Pro-Line Tailgating. EastPoint Sports was founded in 2009 and is based in Succasunna, New Jersey.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-10-09 Structural Concepts

Muskegon, Michigan, United States

Structural Concepts is a designer and manufacturer of temperature-controlled food and beverage display cases for food service establishments and supermarkets. Structural Concepts was founded in 1972 and is based in Muskegon, Michigan.

Buy -
Buyer

PNC Mezzanine Capital

Pittsburgh, Pennsylvania, United States

Investor Investor Investor Investor Investor


Category Mezzanine Finance Firm
Founded 1989
PE ASSETS 1.5B USD
Size Large
Type Sector Agnostic
DESCRIPTION

PNC Mezzanine Capital is the subordinated debt investing arm of PNC Bank. PNC Mezzanine looks to provide $10 to $50 million of junior capital to middle-market companies in a variety of industries. Prospective companies generally have revenues of $20 million and EBITDA greater than $4 million. Broad sectors of interest include niche manufacturing, value-added distribution, and business or consumer services. PNC will not invest in early-stage or technology-driven businesses; real estate, commodity-based or capital-intensive companies; businesses with high customer or vendor concentration; or declining businesses. PNC Mezzanine was formed in 1989 and is based in Pittsburgh, Pennsylvania.


DEAL STATS #
Overall 59 of 77
Sector: Consumer Products M&A 7 of 8
Type: Buyout (LBO, MBO, MBI) M&A Deals 28 of 38
State: New York M&A 4 of 5
Country: United States M&A 56 of 73
Year: 2018 M&A 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-07-01 Crunch

New York, New York, United States

Crunch is a gym that believes in making serious exercise fun by fusing fitness and entertainment and pioneering a philosophy of 'No Judgments.' Crunch serves a fitness community for all types of people, with all types of goals, exercising all different ways; working out at the same place together. Crunch was founded in 1989 and is based in New York City.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-01-01 ISG

Indianapolis, Indiana, United States

ISG provides services and parts to critical-to-process industrial rotating equipment for a diversified blue chip customer base comprised mainly of large industrial, power, paper, and energy companies. ISG was founded in 2018 and is based in Indianapolis, Indiana.

Buy -
Buyer

Cardinal Equity Partners

Indianapolis, Indiana, United States

Investor Investor Investor


Category Private Equity Firm
Founded 1993
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Cardinal Equity Partners is a privately owned partnership that targets investments in lower middle-market businesses headquartered in the central portion of the US. Cardinal looks for light manufacturing, distribution, or service businesses with $5 to $50 million in revenue and at least $1 million of EBITDA. Prospective transaction situations include management buyouts, recapitalizations, family successions, and corporate spin-offs. Cardinal prefers businesses with proven management, recurring revenue, and no major customer concentration issues. Cardinal will not invest in software, heavy manufacturing, automotive, consulting, or companies with a significant percentage of non-US sales. Cardinal Equity Partners was formed in 1993 and is based in Indianapolis, Indiana.


DEAL STATS #
Overall 22 of 28
Sector: Consumer Products M&A 4 of 4
Type: Buyout (LBO, MBO, MBI) M&A Deals 14 of 16
State: New York M&A 1 of 1
Country: United States M&A 22 of 28
Year: 2018 M&A 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-09-05 EastPoint Sports

Succasunna, New Jersey, United States

EastPoint Sports designs, sources, and distributes indoor and outdoor home recreational products through mass retail and e-commerce channels. The EastPoint Sports family of brands includes Go! Gater, Majik, Rec-Tek, Classic Sport, Narwhal, NHL, HEAD, PENN, Kan Jam, and Pro-Line Tailgating. EastPoint Sports was founded in 2009 and is based in Succasunna, New Jersey.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-06-20 Essco

Twinsburg, Ohio, United States

Essco is a value-added distributor of floor care products in the U.S. to specialty household distributors, e-commerce retailers, repair centers, and independent dealers nationwide. Essco was founded in 1924 and is based in Twinsburg, Ohio.

Sell -