M&A Deal Summary

New Water Capital Acquires Klosterman Baking Company

On July 27, 2022, private equity firm New Water Capital acquired food company Klosterman Baking Company

Acquisition Highlights
  • This is New Water Capital’s 4th transaction in the Food sector.
  • This is New Water Capital’s 13th transaction in the United States.
  • This is New Water Capital’s 1st transaction in Ohio.

M&A Deal Summary
Date 2022-07-27
Target Klosterman Baking Company
Sector Food
Buyer(s) New Water Capital
Deal Type Buyout (LBO, MBO, MBI)
Advisor(s) Lincoln International (Financial)

Target

Klosterman Baking Company

Cincinnati, Ohio, United States
Klosterman Baking Company is a certified WBE independent wholesale bakery that bakes over 400 varieties of hearth bread, sandwich buns, rolls, flatbread, and organic bread available fresh in Ohio, Kentucky, Indiana,Tennessee, and Pennsylvania. It also distributes frozen products globally. Klosterman Baking Company was formed in 1892 and is based in Cincinnati, Ohio.

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Buyer(S) 1

Buyer

New Water Capital

Category Private Equity Firm
Founded 2014
PE ASSETS 406M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

New Water Capital is a private equity firm focused on special situation investments in the consumer products, retail, manufacturing, and services sectors. New Water seeks under performing companies, corporate carve-outs, turnarounds, as well as businesses in transition, either growth challenged or facing succession issues. New Water will consider opportunities throughout the US and Canada and seeks businesses with $30 to $300 million in revenue. New Water Capital was formed in 2014 and is based in Boca Raton, Florida.

DEAL STATS #
Overall 14 of 19
Sector (Food) 4 of 4
Type (Buyout (LBO, MBO, MBI)) 4 of 8
State (Ohio) 1 of 1
Country (United States) 13 of 17
Year (2022) 2 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-01-11 Myotek Industries

Auburn, California, United States

Myotek Industries is a Tier 1 OEM Transportation LED Lighting Manufacturer that offers innovative products, competitive pricing and aggressive timing to market. Myotek Industries was founded in 1997 and is based in Auburn, California.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-12-08 Bulk Lift International

St. Charles, Illinois, United States

Bulk Lift International is a manufacturer and supplier of customized flexible intermediate bulk containers, bulk bags, totes, small packaging, and dry bulk container liners serving the chemical, food, minerals, agriculture, waste, and pharmaceuticals markets. Bulk Lift International was founded in 1978 and is based in St. Charles, Illinois.

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