M&A Deal Summary

Plexus Capital Acquires Jacob Ash/Schuessler

On August 1, 2011, private equity firm Plexus Capital acquired apparel/textiles company Jacob Ash/Schuessler from Stonehenge Partners and Bridge Street Capital Partners

Acquisition Highlights
  • This is Plexus Capital’s 1st transaction in the Apparel/Textiles sector.
  • This is Plexus Capital’s 36th transaction in the United States.
  • This is Plexus Capital’s 4th transaction in Pennsylvania.

M&A Deal Summary

Date 2011-08-01
Target Jacob Ash/Schuessler
Sector Apparel/Textiles
Buyer(s) Plexus Capital
Sellers(s) Stonehenge Partners
Bridge Street Capital Partners
Deal Type Secondary Buyout
Advisor(s) Lincoln International (Financial)

Target

Jacob Ash/Schuessler

Mckees Rocks, Pennsylvania, United States
Jacob Ash designs, sources, merchandises and distributes specialty seasonal apparel, including dress, casual and sport gloves, headwear and related accessories.

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Buyer(S) 1

Buyer

Plexus Capital

Charlotte, North Carolina, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1995
PE ASSETS 2.2B USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Plexus Capital is a private equity firm that invests in buyouts, acquisitions, recapitalizations and growth financings in the form of junior and/or equity capital. Plexus focuses on lower middle-market businesses located in the Mid-Atlantic and Southeast areas of the US. The Firm looks for businesses companies in the business services, consumer services, manufacturing, value-added distribution, and healthcare sectors with up to $2 to $15 million of cash-flow. Plexus Capital was formed in 1995 and is based in Charlotte, North Carolina.


DEAL STATS #
Overall 36 of 97
Sector (Apparel/Textiles) 1 of 3
Type (Secondary Buyout) 2 of 8
State (Pennsylvania) 4 of 4
Country (United States) 36 of 97
Year (2011) 3 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-07-06 GTT

McLean, Virginia, United States

GTT is a global telecommunications carrier and network integrator serving the data communications needs of large enterprise, government and carrier clients. GTT was founded in 2005 and is based in McLean, Virginia.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-09-01 Integra Partners

New York, New York, United States

Integra Partners LLC is a healthcare network manager that connects Orthotics and Prosthetics (O&P) and Durable Medical Equipment (DME) providers with health plans and their patients. Integra Partners was established in 2005 and is based in New York City.

Buy -

Seller(S) 2

SELLER

Stonehenge Partners

Columbus, Ohio, United States

Investor Investor Investor Investor Investor


Category Mezzanine Finance Firm
Founded 1999
PE ASSETS 1.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Stonehenge Partners is a private equity firm that seeks equity and mezzanine investments in lower middle-market companies with at least $10 million in sales. Stonehenge looks to invest ranging from $10 million to $50 million of equity/junior capital to support management buyouts, leveraged acquisitions, recapitalizations, and growth capital financings. Stonehenge prefers businesses operating in manufacturing, distribution, business services and healthcare. Stonehenge avoids investing in real estate, oil and gas, high technology and 'industries that are susceptible to a high degree of cyclicality'. Stonehenge was formed in 1999 and is based in Columbus, Ohio.


DEAL STATS #
Overall 20 of 38
Sector (Apparel/Textiles) 1 of 1
Type (Secondary Buyout) 8 of 15
State (Pennsylvania) 1 of 1
Country (United States) 20 of 37
Year (2011) 4 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-04-21 SensorTran

Austin, Texas, United States

SensorTran is an ISO 9001 certified, global supplier of fiber optic-based distributed monitoring solutions. Customers benefiting from SensorTran's distributed temperature sensing (DTS) technology include many of the world's largest energy providers. DTS systems, which can be customized for any language, have applications in downhole oil and gas, transmission and distribution power cable monitoring, pipeline flow assurance and leak detection, and environmental monitoring.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-11-07 Milk Specialties Global

Eden Prairie, Minnesota, United States

Milk Specialties Global is a human and animal nutrition company. The Human Nutrition Business Unit is a leading manufacturer of whey and milk protein ingredients used primarily in the sports nutrition and functional foods end-markets. Milk Specialties Global was founded in 1949 and is based in Eden Prairie, Minnesota.

Sell $340M
SELLER

Bridge Street Capital Partners

Grand Rapids, Michigan, United States

Investor Investor


Category Private Equity Firm
Founded 2004
PE ASSETS 30M USD
Size Small
Type Sector Agnostic
DESCRIPTION

Bridge Street Capital Partners is a small acquisition firm focused on opportunities throughout the Midwest US. Bridge Street looks to invest $2.5 to $7.5 million in businesses generating $5 to $50 million in sales. Sectors of interest include industrial manufacturing, distribution and logistics, consumer products, healthcare, and business services. The Firm targets companies facing ownership transitions or that need capital for growth. Bridge Street Capital Partners is based in Grand Rapids, Michigan with an additional office in Hinsdale, Illinois.


DEAL STATS #
Overall 1 of 2
Sector (Apparel/Textiles) 1 of 1
Type (Secondary Buyout) 1 of 2
State (Pennsylvania) 1 of 1
Country (United States) 1 of 2
Year (2011) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2006-08-01 Superior Fibers

Reedsville, Wisconsin, United States

Superior Fibers is a producer and seller of glass fiber products in residential and commercial air filtration, commercial and industrial paint arrestor and plastic composite reinforcement markets. Superior Fibers was founded in 1984 and is based in Reedsville, Wisconsin.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-02-27 Zorch

Chicago, Illinois, United States

Zorch is a tech-enabled designer and distributor of branded merchandise and promotional products. Zorch’s differentiated approach to servicing corporate programs is gaining widespread acceptance in the marketplace and has yielded more than 30 percent revenue growth during the last two years. Zorch was founded in 2002 and is based in Chicago, Illinois.

Sell -