Buyout (LBO, MBO, MBI) • Distribution

Navigation Capital Partners, Svoboda Capital Partners and Sterling Investment Partners Acquire Interline Brands

On August 25, 1999, private equity firms Navigation Capital Partners, Svoboda Capital Partners and Sterling Investment Partners acquired distribution company Interline Brands

Acquisition Context
  • This is Navigation Capital Partners’ 1st, Svoboda Capital Partners’ 1st and Sterling Investment Partners’ 1st transaction in the Distribution sector.
  • This is Navigation Capital Partners’ 2nd, Svoboda Capital Partners’ 3rd and Sterling Investment Partners’ 1st transaction in the United States.
  • This is Navigation Capital Partners’ 1st, Svoboda Capital Partners’ 1st and Sterling Investment Partners’ 1st transaction in Florida.
Investment Fate
  • Interline Brands went public in 2004.
  • Interline Brands was sold to a strategic buyer in 2015 for 1.6B USD.

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M&A Deal Summary

Date August 25, 1999
Target Interline Brands
Sector Distribution
Buyer(s) Navigation Capital Partners
Svoboda Capital Partners
Sterling Investment Partners
Deal Type Buyout (LBO, MBO, MBI)

Target Company

Interline Brands

Jacksonville, Florida, United States
Interline Brands, Inc. is a national distributor and direct marketer of broad-line maintenance, repair and operations (MRO) products.
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Buyers Overview 3

Buyer

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 Context for Buyer #
Overall 2 of 19
Sector: Distribution 1 of 2
Type: Buyout (LBO, MBO, MBI) 2 of 8
State: Florida 1 of 1
Country: United States 2 of 19
Year: 1999 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
1997-01-01 Summit Global Partners

Dallas, Texas, United States

USI is a growing and diversified insurance and financial services firm focused on providing fully integrated distribution of general and specialty property and casualty insurance and financial services such as employee benefits outsourcing and related consulting.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2000-06-22 NDS

Woodland Hills, California, United States

NDS is a manufacturer of water management solution products, including plastic irrigation, drainage, and valve products that are used in many common residential, commercial, and landscaping applications in North America. NDS was founded in 1972 and is based in Woodland Hills, California.

Buy -
Buyer

Svoboda Capital Partners

Chicago, Illinois, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1998
PE ASSETS 400M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Svoboda Capital Partners is a private equity firm that seeks buyout, recapitalization, and growth capital investments in mid-sized companies with leading market positions, strong customer relationships, and high margins. Svoboda generally looks to invest up to $25 million in businesses generating sales of $10 to $100 million and EBITDA of $3 to $15 million. Sectors of interest include value-added distribution, business services, and consumer products. Svoboda Capital Partners was formed in 1998 and is based in Chicago, Illinois.


Deal Context for Buyer #
Overall 3 of 47
Sector: Distribution 1 of 13
Type: Buyout (LBO, MBO, MBI) 1 of 15
State: Florida 1 of 2
Country: United States 3 of 46
Year: 1999 2 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
1999-06-01 In The Swim

West Chicago, Illinois, United States

In The Swim is a multi-channel direct marketer of swimming pool supplies and equipment to the residential and commercial swimming pool markets in the United States. Products include chemicals, covers and liners, equipment, parts, and accessories, which are sold through a catalog, internet, telesales, retail, and wholesale channels. In The Swim was founded in 1982 and is based in West Chicago, Illinois.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
1999-10-18 Orbit Commerce

Chicago,, Illinois, United States

Orbit Commerce, Inc. is a provider of eBusiness platform solutions for enterprises to provide their small business networks with customized applications and services.

Buy -
Buyer

Sterling Investment Partners

Westport, Connecticut, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1991
PE ASSETS 2.9B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Sterling Investment Partners is a private equity firm that seeks investments in middle-market businesses with strong market share and high growth potential. Sterling looks for companies generating revenues of $50 to $500 million and EBITDA of $15 to $50 million. Sectors of interest include outsourcing/business services, niche manufacturing & industrial, transportation & logistics, unique distribution, technology-related, energy services, and consumer products & services. Sterling Investment Partners dates back to 1991 and is based in Westport, Connecticut.


Deal Context for Buyer #
Overall 1 of 32
Sector: Distribution 1 of 6
Type: Buyout (LBO, MBO, MBI) 1 of 10
State: Florida 1 of 2
Country: United States 1 of 32
Year: 1999 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
1999-08-24 Aavid Thermalloy

Concord, New Hampshire, United States

Aavid Thermalloy provides a broad range of technologically advanced thermal management solutions for aerospace and defense, telecommunication, LED lighting, server, data center, consumer electronics, transportation, and industrial applications to customers all over the world. Aavid Thermalloy is based in Concord, New Hampshire.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2000-05-15 Wilmar Industries

Mount Laurel Township, New Jersey, United States

Wilmar Industries, Inc. is a supplier of home repair and maintenance products, offering more than 15,000 plumbing, electrical, janitorial, hardware, HVAC, appliance, window, and door parts.

Buy -