M&A Deal Summary

Middleby Acquires F.R. Drake

On February 2, 2011, Middleby acquired machinery company F.R. Drake from Fulham

Acquisition Highlights
  • This is Middleby’s 5th transaction in the Machinery sector.
  • This is Middleby’s 5th transaction in the United States.
  • This is Middleby’s 1st transaction in Virginia.

M&A Deal Summary
Date 2011-02-02
Target F.R. Drake
Sector Machinery
Buyer(s) Middleby
Sellers(s) Fulham
Deal Type Add-on Acquisition
Advisor(s) Lincoln International (Financial)

Target

F.R. Drake

Waynesboro, Virginia, United States
F.R. Drake Co., Inc.is a Designer and manufacturer of automatic loading systems for cylindrical products and frozen patties.

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Buyer(S) 1

Buyer

Middleby

Elgin, Illinois, United States
Category Company
Founded 1888
Sector Manufacturing
Employees10,722
Revenue 4.0B USD (2023)
DESCRIPTION

Middleby designs, manufactures, markets, distributes, and services a broad line of food service equipment used in all types of commercial restaurants and institutional kitchens, food preparation, cooking, baking, chilling, and packaging equipment for food processing operations, and premium kitchen equipment including ranges, ovens, refrigerators, ventilation, and dishwashers primarily used in the residential market. Middleby was founded in 1888 and is based in Elgin, Illinois.

DEAL STATS #
Overall 8 of 73
Sector (Machinery) 5 of 35
Type (Add-on Acquisition) 8 of 67
State (Virginia) 1 of 1
Country (United States) 5 of 45
Year (2011) 1 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-09-21 Cozzini

Chicago, Illinois, United States

Cozzini LLC is a manufacturer of equipment solutions for the food processing industry. Cozzini product offerings include grinding, slicing, emulsification, mixing and blending equipment, which complement our existing products offered under the Alkar, MP Equipment, and RapidPak brands.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-05-31 Lincat Group

Lincoln, United Kingdom

Lincat Group plc engages in the manufacture and supply of commercial catering equipment in the United Kingdom and internationally.

Buy $58M

Seller(S) 1

SELLER

Fulham

Wellesley, Massachusetts, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1984
PE ASSETS 280M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Fulham & Co. is a private investment firm that targets investments in companies in which ownership wants to reduce their investment stake. Fulham looks for businesses with strong brands or highly engineered products. Target companies typically have EBITDA of $2 to $8 million. Fulham & Co. was originally formed in 1917 and has been investing in companies since 1984. Fulham is based in Wellesley, Massachusetts.

DEAL STATS #
Overall 2 of 8
Sector (Machinery) 1 of 3
Type (Add-on Acquisition) 2 of 5
State (Virginia) 1 of 1
Country (United States) 2 of 8
Year (2011) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-09-01 F.R. Drake

Waynesboro, Virginia, United States

F.R. Drake Co., Inc.is a Designer and manufacturer of automatic loading systems for cylindrical products and frozen patties.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-10-07 DiaCom

Amherst, New Hampshire, United States

DiaCom is a designer and manufacturer of innovative, cost-effective molded diaphragms (and related products) critical to the operation of systems and equipment in industrial, automotive, aerospace, medical, and food and water processing applications. DiaCom was founded in 1983 and is based in Amherst, New Hampshire.

Buy -
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