M&A Deal Summary

Patriot Capital and CenterGate Capital Acquire Quality Harvest Foods

On September 8, 2021, private equity firms Patriot Capital and CenterGate Capital acquired food company Quality Harvest Foods

Acquisition Highlights
  • This is Patriot Capital’s 3rd and CenterGate Capital’s 1st transaction in the Food sector.
  • This is Patriot Capital’s 96th and CenterGate Capital’s 8th transaction in the United States.
  • This is Patriot Capital’s 2nd and CenterGate Capital’s 2nd transaction in Oregon.

M&A Deal Summary
Date 2021-09-08
Target Quality Harvest Foods
Sector Food
Buyer(s) Patriot Capital
CenterGate Capital
Deal Type Buyout (LBO, MBO, MBI)

Target

Quality Harvest Foods

Portland, Oregon, United States
Quality Harvest Foods is a developer and contract manufacturer of frozen, filled baked snacks and handheld meals sticks, bites, pull-aparts, and calzones in a variety of dough flavors, product shapes, fillings (including cheese and fruit), and topicals. The company’s products, sold by branded food manufacturers through foodservice and retail grocery channels, are available in individual oven/microwave safe wrappers, multipacks, resealable pouches, and bulk packaging formats. Quality Harvest Foods was formed in 1964 and is based in Portland, Oregon.

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Buyer(S) 2

Buyer

Patriot Capital

Baltimore, Maryland, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Size Large
Type Sector Agnostic
DESCRIPTION

Patriot Capital is a private investment firm that provides equity and junior capital to support acquisitions, growth capital financings, management buyouts, and recapitalizations of middle-market companies. The Firm looks to invest $5 to $25 million in businesses generating revenues of $10 to $200 million. Areas of interest include business and consumer services, consumer products, niche manufacturing and distribution, education, e-commerce, application software, transportation, and telecom services. Patriot focuses its investment activity with the Mid-Atlantic, Midwest, and Southern areas of the US. Patriot Capital is based in Baltimore, Maryland.

DEAL STATS #
Overall 96 of 109
Sector (Food) 3 of 3
Type (Buyout (LBO, MBO, MBI)) 31 of 34
State (Oregon) 2 of 2
Country (United States) 96 of 109
Year (2021) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-06-10 American Equipment

Salt Lake City, Utah, United States

American Equipment is a distributor of overhead cranes and hoists. American Equipment is based in Salt Lake City, Utah.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-09-27 Summit Interconnect

Anaheim, California, United States

Summit Interconnect is a manufacturer of advanced technology printed circuit boards. Manufacturing services include quick-turn, prototype, and production through our advanced technology facilities located in California. Summit Interconnect was founded in 2016 and is based in Anaheim, California.

Sell -
Buyer

CenterGate Capital

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2014
PE ASSETS 740M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

CenterGate Capital is a private equity firm focused on improving and growing lower middle market companies. The Firm looks to partner with companies generating $20 to $250 million in revenues. Sectors of interest include business services, industrials, energy services, consumer, and healthcare services. Prospective transaction situations include buyouts, divestitures, recapitalizations, shareholder liquidity needs, and restructurings. CenterGate Capital was founded in 2014 and is based in Austin, Texas.

DEAL STATS #
Overall 9 of 15
Sector (Food) 1 of 1
Type (Buyout (LBO, MBO, MBI)) 3 of 3
State (Oregon) 2 of 2
Country (United States) 8 of 14
Year (2021) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-05-05 Mulch & Soil

Fort Myers, Florida, United States

Mulch & Soil is a producer and distributor of mulches, premium planting and potting soils, decorative bark, other ground cover products, and complimentary landscape products and supplies in the Florida market. TM&SC operates four manufacturing and distribution facilities, which serve a diverse mix of lawn and garden retailers, commercial landscapers, and mulch installers. Mulch & Soil was founded in 2018 and is based in Fort Myers, Florida.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-11-15 Owen Equipment

Portland, Oregon, United States

Owen Equipment is a provider of specialty equipment platforms providing critical infrastructure solutions to municipal, utility, and commercial customers throughout the western United States. Owen serves as a dealer of new and pre-owned equipment, provides related parts and maintenance services, and maintains a large fleet of rental equipment used for sewer maintenance, hydro/vacuum excavation, street cleaning, and waste management applications. Owen Equipment was founded in 1958 and is based in Portland, Oregon.

Sell -
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