M&A Deal Summary

Odyssey Investment Partners Acquires Painters Supply

On August 17, 2021, private equity firm Odyssey Investment Partners acquired distribution company Painters Supply from PNC Riverarch Capital and Skyline Global Partners

Acquisition Highlights
  • This is Odyssey Investment Partners’ 2nd transaction in the Distribution sector.
  • This is Odyssey Investment Partners’ 47th transaction in the United States.
  • This is Odyssey Investment Partners’ 2nd transaction in Michigan.

M&A Deal Summary
Date 2021-08-17
Target Painters Supply
Sector Distribution
Buyer(s) Odyssey Investment Partners
Sellers(s) PNC Riverarch Capital
Skyline Global Partners
Deal Type Secondary Buyout

Target

Painters Supply

Taylor, Michigan, United States
Painters Supply is a distributor of automotive, industrial, and architectural coatings in the United States. PSE serves more than 4,000 customers, including collision repair shops, auto dealerships, fleet operators, and various other commercial and industrial accounts. Painters Supply was established in 1952 and is based in Taylor, Michigan.

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Buyer(S) 1

Buyer

Odyssey Investment Partners

New York, New York, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1997
PE ASSETS 8.2B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Odyssey Investments is a private equity firm that seeks control/majority investments in middle-market companies. Odyssey looks to back existing management and make investments in the form of leveraged acquisitions, growth financings and recapitalizations. Sectors of interest include industrial manufacturing, business and financial services, aerospace products and services, and 'route-based services'. Odyssey Investment Partners is based in New York City with an additional office in Woodland Hills, California.

DEAL STATS #
Overall 50 of 52
Sector (Distribution) 2 of 2
Type (Secondary Buyout) 22 of 23
State (Michigan) 2 of 2
Country (United States) 47 of 49
Year (2021) 4 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-03-29 SIAA

Hampton, New Hampshire, United States

SIAA is a national alliance of independent insurance agents with billions in combined profitable premium. SIAA utilizes its collective strength through traditional and alternative market channels for the purpose of providing insurance consumers with competitive choices in addition to providing significant profit and equity appreciation opportunities for SIAA Member Agencies. SIAA was founded in 1995 and is based in Hampton, New Hampshire.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-10-19 IPS

Greenville, South Carolina, United States

IPS is a provider of maintenance, repair, and replacement solutions for critical process equipment serving industrial and renewable energy end markets in North America. IPS was founded in 2007 and is headquartered in Greenville, South Carolina.

Sell -

Seller(S) 2

SELLER

PNC Riverarch Capital

Pittsburgh, Pennsylvania, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2011
PE ASSETS 250M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

PNC Riverarch Capital is a middle-market private equity group that invests in privately-held companies headquartered throughout North America. The Group looks to commit $10 to $50 million to help fund recapitalizations, leveraged and management buyouts, corporate divestitures and growth financings. Target sectors include business and industrial services, specialized manufacturing, and value-added distribution. PNC Riverarch was formed in 2011 and is an affiliate of PNC Financial Services Group.

DEAL STATS #
Overall 13 of 18
Sector (Distribution) 2 of 2
Type (Secondary Buyout) 9 of 12
State (Michigan) 1 of 1
Country (United States) 12 of 16
Year (2021) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-08-11 Fresh Direct Produce

Vancouver, British Columbia, Canada

Fresh Direct Produce is a distributor of fresh, ethnic, tropical, organic, and specialty produce. Fresh Direct Produce distributes 1,000+ fruit and vegetable items to the Western Canadian market. Fresh Direct Produce was founded in 2003 and is based in Vancouver, British Columbia.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-08-26 itel

Jacksonville, Florida, United States

itel is an insurance service provider that helps property insurance companies effectively settle claims worldwide. itel is committed to custom-fitting its service offering to meet the unique needs of each international insurance market. itel was founded in 1993 and is based in Jacksonville, Florida.

Sell -
SELLER

Skyline Global Partners

Chicago, Illinois, United States

Investor Investor Investor

Category Private Equity Firm
Founded 2010
Size Small
Type Sector Agnostic
DESCRIPTION

Skyline Global Partners LLC is a private equity firm focused on buyouts and growth capital investments in mid-sized companies with $10 to $100 million in revenue. The Firm looks to invest $10 to $100 million and prefers companies with recurring revenue, low capital expenditures, and diversified customer bases. Sectors of interest include healthcare, manufacturing, business services, software, consumer products, agriculture, food, and beverages. Skyline Global Partners was formed in 2010 and is based in Chicago, Illinois.

DEAL STATS #
Overall 5 of 6
Sector (Distribution) 1 of 1
Type (Secondary Buyout) 2 of 2
State (Michigan) 1 of 1
Country (United States) 4 of 5
Year (2021) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-09-09 Midwestern BioAg

Madison, Wisconsin, United States

Midwestern BioAg is a manufacturer and distributor of fertilizers to build soil health while increasing yields and nutritional quality of both food and forage. The Company's products and practices engage soil life, enhance nutrient use efficiency, build soil organic matter, improve crop resiliency, and increase the long-term productivity of farmland. Midwestern BioAg was founded in 1983 and is based in Blue Mounds, Wisconsin.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-11-01 Lief Labs

Valencia, California, United States

Lief Labs is a premier formulation and product development innovator and manufacturer of dietary supplements. The Company's in-house Product Development and R&D team creates the best tasting and most cutting-edge formulations of supplements. Lief also houses over 220,000 sq ft of new and fully renovated, fullservice, state-of-the-art, Current Good Manufacturing Practice (cGMP) manufacturing facility, which includes an in-house analytical testing lab and a microbiology lab, and offers custom solutions for a multitude of supplement categories. The Company collaborates with entrepreneurial firms to help them build premier brands. Lief’s turnkey solutions allow it to engage in seamless partnerships that help brands with scalability and sustainable growth. Lief Labs was founded in 2008 and is based in Valencia, California.

Buy -
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