M&A Deal Summary

Middleby Acquires Viking Range

On December 31, 2012, Middleby acquired manufacturer Viking Range from The Stephens Group and Stephens Capital Partners for 380M USD

Acquisition Highlights
  • This is Middleby’s 1st transaction in the Manufacturing sector.
  • This is Middleby’s 2nd largest (disclosed) transaction.
  • This is Middleby’s 11th transaction in the United States.
  • This is Middleby’s 1st transaction in Mississippi.

M&A Deal Summary
Date 2012-12-31
Target Viking Range
Sector Manufacturing
Buyer(s) Middleby
Sellers(s) The Stephens Group
Stephens Capital Partners
Deal Type Add-on Acquisition
Deal Value 380M USD

Target

Viking Range

Greenwood, Mississippi, United States
Viking Range Corporation is an ultra-premium major appliance manufacturer and culinary lifestyle company that originated commercial-type appliances for the home and is the creator of the “Professional” category of major appliances. Viking is headquartered in Greenwood, Mississippi.

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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 18 of 74
Sector (Manufacturing) 1 of 16
Type (Add-on Acquisition) 17 of 68
State (Mississippi) 1 of 1
Country (United States) 11 of 45
Year (2012) 5 of 5
Size (of disclosed) 2 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-10-31 Nieco

Windsor, California, United States

Nieco Corp. is a manufacturer of automatic broilers for the commercial foodservice industry.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-01-23 Spooner Vicars Bakery Systems

Merseyside, United Kingdom

Spooner Vicars Bakery Systems, Inc. is a manufacturer of baking systems for the cookie and cracker industry. Spooner Vicars offers equipment and systems capable of mixing, forming, baking, cooling, sandwiching and packaging to produce every type of biscuit and snack baked product.

Buy -

Seller(S) 2

SELLER

The Stephens Group

Little Rock, Arkansas, United States

Investor Investor Investor Investor Investor

Category Family Office
Founded 1933
PE ASSETS 1.5B USD
Size Large
Type Sector Agnostic
DESCRIPTION

The Stephens Group is a private investment firm focused on long-term investments in mid-sized companies. The Firm looks to partner with management teams when pursuing acquisitions. Sectors of interest include energy, energy services, business services, industrials, consumer products, consumer services, financial services, healthcare, technology, media, and communications. The Stephens Group was originally established in 1933 and is headquartered in Little Rock, Arkansas.

DEAL STATS #
Overall 15 of 28
Sector (Manufacturing) 1 of 1
Type (Add-on Acquisition) 8 of 12
State (Mississippi) 2 of 2
Country (United States) 13 of 25
Year (2012) 4 of 4
Size (of disclosed) 3 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-12-01 REACH Air Medical Services

Santa Rosa, California, United States

REACH Air Medical Services is a provider of emergency air medical transport services. REACH provides the highest quality patient care through 18 bases in California, Oregon and Texas utilizing a fleet of 29 rotor-wing and fixed-wing aircraft.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-01-01 Prodigy Health

Austin, Texas, United States

Prodigy Health is a specialty drug distributor, that connects hospital groups and individual facilities to the products they need through On Demand Consignment, Same Day Delivery, and 503B Outsource Services. Prodigy Health was founded in 2001 and is based in Austin, Texas.

Buy -
SELLER

Stephens Capital Partners

Little Rock, Arkansas, United States

Investor Investor Investor Investor Investor

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

Stephens Capital Partners is the direct, private equity investment arm of financial services firm Stephens, Inc. Stephens Capital looks to acquire minority or majority stakes in mid-sized, profitable companies in partnership with management. The Firm will consider opportunities throughout the US valued between $50 and $200 million. Stephens Capital will not consider venture investments or turnaround situations. Stephens Capital Partners is based in Little Rock, Arkansas.

DEAL STATS #
Overall 16 of 40
Sector (Manufacturing) 3 of 4
Type (Add-on Acquisition) 7 of 19
State (Mississippi) 2 of 2
Country (United States) 16 of 39
Year (2012) 3 of 3
Size (of disclosed) 4 of 11
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-10-22 DMS

Portland, Oregon, United States

DMS is a provider of integrated, omni-channel direct marketing solutions to a diverse client base throughout the U.S. DMS serves a variety of end markets including banking, alternative lending, technology and telecom. DMS was founded in 1982 and is based in Portland, Oregon.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-01-07 EnergySolutions

Salt Lake City, Utah, United States

EnergySolutions is a nuclear services company that offers safe recycling, processing, and disposal of nuclear material. EnergySolutions provides a full range of Decommissioning and Decontamination (D&D) services to shut down nuclear power plants. EnergySolutions was founded in 1988 and is based in Salt Lake City, Utah.

Buy -
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