M&A Deal Summary

Patriarch Partners Acquires Spiegel

On June 18, 2009, private equity firm Patriarch Partners acquired apparel/textiles company Spiegel from Granite Creek Partners

Acquisition Highlights
  • This is Patriarch Partners’ 4th transaction in the Apparel/Textiles sector.
  • This is Patriarch Partners’ 13th transaction in the United States.
  • This is Patriarch Partners’ 3rd transaction in New York.

M&A Deal Summary
Date 2009-06-18
Target Spiegel
Sector Apparel/Textiles
Buyer(s) Patriarch Partners
Sellers(s) Granite Creek Partners
Deal Type Secondary Buyout

Target

Spiegel

New York, New York, United States
Spiegel is a holding company for three national direct to consumer women’s fashion retailers. The company reaches its customer base through a combination of specialty catalogs, e-commerce, social media, and digital marketing partnerships. Spiegel was formed in 1865 and is based in New York City.

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Buyer(S) 1

Buyer

Patriarch Partners

New York, New York, United States

Investor

Category Private Equity Firm
Founded 2000
Size Large
Type Sector Agnostic
DESCRIPTION

Patriarch Partners is an operationally focused private investment firm focused on acquiring and turning around troubled companies. The Firm will consider opportunities throughout the US and does not have any stated investment preferences. Patriarch Partners was established in 2000 and is headquartered in New York City.

DEAL STATS #
Overall 13 of 20
Sector (Apparel/Textiles) 4 of 4
Type (Secondary Buyout) 2 of 2
State (New York) 3 of 4
Country (United States) 13 of 20
Year (2009) 3 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2009-04-21 Stila

Glendale, California, United States

Stila is a cosmetic company producing products for the eyes, cheeks, lips, and face as well as for complexion perfection and multi-use. The Company also sells brushes and accessories. Stila’s modern, uniquely illustrated and inspiring packaging is made out of recycled materials that are durable as well as distinctive. Stila was formed in 1994 and is based in Glendale, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2009-12-01 Jane Cosmetics

Glendale, California, United States

Jane Cosmetics makes high quality value products in the eye, lip and face cosmetics categories. Jane Cosmetics fills a niche between value and prestige cosmetic lines. The Company’s products are sold in mass merchant retailers and better drugstores throughout the U.S. and Canada. Jane Cosmetics is based in Glendale, California.

Buy -

Seller(S) 1

SELLER

Granite Creek Partners

Chicago, Illinois, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2005
PE ASSETS 400M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Granite Creek Partners is a Midwest US-based private equity firm focused on acquiring and investing in mid-sized companies operating in the manufacturing, distribution, business services, healthcare, and food sectors. The Firm looks to commit $7 to $25 million per transaction and can invest across the capital structure, including control/minority equity, mezzanine debt, senior secured debt, and debtor-in-possession loans. Granite Creek Partners was formed in 2005 and is based in Chicago.

DEAL STATS #
Overall 2 of 10
Sector (Apparel/Textiles) 1 of 1
Type (Secondary Buyout) 1 of 2
State (New York) 1 of 2
Country (United States) 2 of 9
Year (2009) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2009-06-05 Aspen Earthmoving

Carbondale, Illinois, United States

Aspen Earthmoving is an excavation, concrete, and hauling contractor licensed in Colorado that has provided construction related work to Aspen and Roaring Fork Valley residential, commercial, and civil construction-end markets for over 20 years.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2010-05-12 ADS Medical Services

Boca Raton, Florida, United States

ADS Medical Services provides home delivery of medical equipment supplies and pharmaceutical products to Medicare and Medicaid eligible beneficiaries in the United States and Puerto Rico.

Buy -
Mergr

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