M&A Deal Summary

New Mountain Capital Acquires Diversified Foodservice Supply

On February 18, 2015, private equity firm New Mountain Capital acquired distribution company Diversified Foodservice Supply from KRG Capital Partners and Audax Private Debt

Acquisition Highlights
  • This is New Mountain Capital’s 2nd transaction in the Distribution sector.
  • This is New Mountain Capital’s 29th transaction in the United States.
  • This is New Mountain Capital’s 2nd transaction in Illinois.

M&A Deal Summary

Date 2015-02-18
Target Diversified Foodservice Supply
Sector Distribution
Buyer(s) New Mountain Capital
Sellers(s) KRG Capital Partners
Audax Private Debt
Deal Type Secondary Buyout
Advisor(s) Baird (Financial)
Hogan Lovells (Legal)

Target

Diversified Foodservice Supply

Mount Prospect, Illinois, United States
Diversified Foodservice Supply is a distributor of maintenance, repair and operations parts, supplies, and equipment to the U.S. foodservice industry, serving over 250,000 foodservice customer locations. DFSI operates through multiple brands including AllPoints Foodservice Parts & Supplies, Tundra Restaurant Supply, Franklin Machine Products, Mill Hardware, and Restaurant Parts & More. Diversified Foodservice Supply was founded in 2006 and is based in Mount Prospect, Illinois.

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) 1

Buyer

New Mountain Capital

New York, New York, United States

Category Private Equity Firm
Founded 1999
PE ASSETS 55.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

New Mountain Capital is a private investment firm focused on investment in public and private companies in a variety of industries. New Mountain generally invests $100 to $500 million per transaction and looks for businesses with strong market positions and high barriers to entry. New Mountain also prefers businesses that succeed in both good and bad economies. Sectors of interest include education, healthcare, business services, federal IT services, media, software, consumer products, logistics, financial services and technologies, and energy. New Mountain Capital was formed in 1999 and is based in New York, New York.


DEAL STATS #
Overall 33 of 103
Sector: Distribution M&A 2 of 2
Type: Secondary Buyout M&A Deals 10 of 39
State: Illinois M&A 2 of 8
Country: United States M&A 29 of 98
Year: 2015 M&A 1 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-10-31 Datavant Group

Phoenix, Arizona, United States

Datavant Group is a health data ecosystem, enabling patients, providers, payers, health data analytics companies, patient-facing applications, government agencies, and life science companies to securely exchange and organize their patient-level data. The company is focused on improving patient outcomes and reducing costs by removing impediments to the secure exchange of health data. Datavant Group offers the ability to access, exchange, and connect data among the thousands of organizations in its ecosystem for use cases ranging from better clinical care and value-based payments, to health analytics and medical research. Datavant Group was founded in 1976 and is based in Phoenix, Arizona.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-04-08 Zep

Atlanta, Georgia, United States

Zep is a manufacturer and marketer of a wide range of high-efficacy maintenance and cleaning solutions for commercial, industrial, institutional, and consumer end-markets under well-known and respected brand names. The breadth of the Zep product portfolio provides customized, superior cleaning and maintenance solutions to a broad customer base including manufacturers, food processors and preparers, restaurants, hospitals, schools, municipalities, government organizations, hotels and car washes. Zep was founded in 1937 and is based in Atlanta, Georgia.

Buy $692M

Seller(S) 2

SELLER

KRG Capital Partners

Denver, Colorado, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1996
PE ASSETS 4.4B USD
Size Large
Type Sector Agnostic
DESCRIPTION

KRG Capital Partners is a private equity investment firm focused on acquiring controlling interests in middle-market companies. Prospective transaction situations include owner recapitalizations, management buyouts of private companies, mangement buyouts of corporate divisions, outright purchases, and family successions. Target companies typically generate sales of $35 to $400 million and EBITDA of $10 to $100 million. Sectors of interest include healthcare services, medical technology and life sciences; business services and distribution; construction materials and services; transportation services; marketing; specialty finance and insurance; aerospace, defense, and government services; energy services and products; and infrastructure. KRG primarily looks for opportunities located in the US and Canada but will selectively consider investments in Western Europe. KRG was formed in 1996 and is based in Denver, Colorado with additional offices in Mill Valley, California and Las Vegas, Nevada.


DEAL STATS #
Overall 31 of 41
Sector: Distribution M&A 3 of 3
Type: Secondary Buyout M&A Deals 9 of 14
State: Illinois M&A 4 of 7
Country: United States M&A 30 of 40
Year: 2015 M&A 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-11-05 OLSON

Minneapolis, Minnesota, United States

Olson provides digital marketing solutions around customer engagement and branding and is widely recognized for its innovative strategic advisory work, its software-driven customer loyalty programs and its analytics-based marketing.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-06-23 Core Label

Tyrone, Pennsylvania, United States

Core Label LLC is a provider of roll-fed labels for the beverage market.

Sell -
SELLER

Audax Private Debt

New York, New York, United States

Investor Investor Investor Investor Investor


Category Mezzanine Finance Firm
Founded 2000
PE ASSETS 5.4B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Audax Mezzanine is the mezzanine finance arm of the Audax Group. The Firm focuses on investing in both private and public, US-based middle market companies with a strong history of cash flows and consistent revenue growth. Audax will consider subordinated mezzanine debt commitments, second lien or junior secured debt, preferred stock and common stock. The Firm seeks to invest in companies with EBITDA between $10 and $100 million. Types of transaction include MBOs, LBOs, growth capital financings, acquisition financings, and recapitalizations. Audax Private Debt is based in New York, New York.


DEAL STATS #
Overall 32 of 53
Sector: Distribution M&A 4 of 5
Type: Secondary Buyout M&A Deals 12 of 25
State: Illinois M&A 3 of 4
Country: United States M&A 32 of 53
Year: 2015 M&A 2 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-02-03 EAB

Washington, District of Columbia, United States

EAB is a provider of best practices research, student success management software and data-enabled enrollment solutions to the not-for-profit higher education and K-12 markets. The Company’s solutions help institutions increase enrollment yield, balance financial aid with revenue generation, drive higher student retention and success, and implement industry best practices derived from benchmarking and research. EAB was founded in 1983 and is based in Washington, Washington DC.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-06-10 AWP Safety

North Canton, Ohio, United States

AWP Safety is a provider of professional traffic control design and execution services in support of utility infrastructure maintenance and construction activity. AWP Safety was founded in 1981 and is based in North Canton, Ohio.

Buy -