M&A Deal Summary

NXMH Acquires Whitebridge Pet Brands

On July 29, 2021, private equity firm NXMH acquired food company Whitebridge Pet Brands from Frontenac and Avante Capital Partners

Acquisition Highlights
  • This is NXMH’s 1st transaction in the Food sector.
  • This is NXMH’s 1st transaction in the United States.
  • This is NXMH’s 1st transaction in Missouri.

M&A Deal Summary
Date 2021-07-29
Target Whitebridge Pet Brands
Sector Food
Buyer(s) NXMH
Sellers(s) Frontenac
Avante Capital Partners
Deal Type Secondary Buyout
Advisor(s) Houlihan Lokey (Financial)
Winston & Strawn (Legal)

Target

Whitebridge Pet Brands

Chesterfield, Missouri, United States
Whitebridge Pet Brands is a provider of natural, wholesome, and minimally processed food and treats for dogs and cats. The Company’s family of brands – Cloud Star, Buddy Biscuits, Wag More Bark Less, Tiki Cat, Tiki Dog, Dogswell, and Nutrisca are sold through a variety of retailers across the U.S. and Canada. Whitebridge Pet Brands is based in Chesterfield, Missouri.

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Buyer(S) 1

Buyer

NXMH

Investor Investor Investor

Category Private Equity Firm
Founded 2011
PE ASSETS 3.0B EUR
Size Large
Type Sector Agnostic
DESCRIPTION

NXMH is a private investment group focused on acquiring majority interests in profitable companies in the consumer and cryptocurrency sectors. The Firm looks to commit €50 to €200 million per transaction and will consider opportunities throughout Europe. NXMH prefers businesses with strong, established brands and asset-light business models. NXMH was formed in 2011 and is headquartered in Brussels, Belgium.

DEAL STATS #
Overall 6 of 6
Sector (Food) 1 of 1
Type (Secondary Buyout) 1 of 1
State (Missouri) 1 of 1
Country (United States) 1 of 1
Year (2021) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-06-01 Moose Knuckles

Montreal, Quebec, Canada

Moose Knuckles is a manufacturer of outerwear, sportswear and accessories for women, men and kids. Moose Knuckles is based in Montreal, Quebec.

Buy -

Seller(S) 2

SELLER

Frontenac

Chicago, Illinois, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1971
PE ASSETS 2.1B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Frontenac is a Midwest US-based private equity firm that seek profitable, lower middle-market company investments with $5 to $25 million of EBITDA. Frontenac typically partners with management when pursuing acquisitions, including companies managed by owner-operators. Sectors of interest include financial services, healthcare services, education/HR services, manufacturing, publishing/media, and technology services. Frontenac was formed in 1971 and is based in Chicago, Illinois.

DEAL STATS #
Overall 55 of 59
Sector (Food) 5 of 6
Type (Secondary Buyout) 16 of 16
State (Missouri) 3 of 3
Country (United States) 53 of 57
Year (2021) 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-07-08 Salient CRGT

Fairfax, Virginia, United States

Salient CRGT’s diverse, hard-working team provides a wide range of technology and mission support services to U.S. federal government agencies. The company has earned the unwavering trust of customers, who cite deep expertise, exceptionally responsive approach, and high-value solutions for consistently ensuring their success. Founded in 1998, Salient CRGT is a privately held company headquartered in Fairfax, Virginia.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-11-03 EFC International

St. Louis, Missouri, United States

EFC International is a distributor of highly-engineered specialty fasteners to the automotive and industrial end-markets. EFC International was founded in 1983 and is based in St. Louis, Missouri.

Buy -
SELLER

Avante Capital Partners

Los Angeles, California, United States

Investor Investor Investor Investor Investor

Category Mezzanine Finance Firm
Founded 2009
Size Small
Type Sector Agnostic
DESCRIPTION

Avante Mezzanine Partners is a provider of junior capital to lower middle-market companies generating at least $3 million in cash flow. The Firm looks to invest $5 to $20 million per transaction and generally works with private equity and independent sponsors in buyout transactions, as well as with entrepreneurs and owners to finance recapitalizations, refinancings, acquisitions and growth. Avante Mezzanine was formed in 2009 and has offices in Los Angeles and Boston.

DEAL STATS #
Overall 13 of 17
Sector (Food) 2 of 2
Type (Secondary Buyout) 7 of 9
State (Missouri) 2 of 2
Country (United States) 13 of 17
Year (2021) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-12-15 Mindpath Health

Sacramento, California, United States

Mindpath Health is a behavioral health practice management company supporting over 40 affiliated psychiatrists practicing in California’s Sacramento, San Joaquin, and Bay Areas. Mindpath Health was founded in 1995 and is based in Sacramento, California.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-12-21 ACIS Innovative Solutions

McKinney, Texas, United States

ACIS Innovative Solutions is a provider of HVAC and plumbing maintenance services, including equipment design and replacement, vibration and oil analysis, retrofits and building automation. ACIS Innovative Solutions was founded in 2002 and is based in McKinney, Texas.

Sell -
Mergr

Product

Company

Legal