M&A Deal Summary

PNC Riverarch Capital and Golub Capital Acquire Feeders Supply

On April 14, 2016, private equity firm PNC Riverarch Capital and lender Golub Capital acquired retailer Feeders Supply

Acquisition Highlights
  • This is PNC Riverarch Capital’s 1st and Golub Capital’s 5th transaction in the Retail sector.
  • This is PNC Riverarch Capital’s 11th and Golub Capital’s 46th transaction in the United States.
  • This is PNC Riverarch Capital’s 1st and Golub Capital’s 1st transaction in Kentucky.
Investment Fate
  • Feeders Supply was sold to a strategic buyer in 2023.

M&A Deal Summary

Date 2016-04-14
Target Feeders Supply
Sector Retail
Buyer(s) PNC Riverarch Capital
Golub Capital
Deal Type Recapitalization

Target

Feeders Supply

Louisville, Kentucky, United States
Feeders Supply is an operator of 16 retail locations primarily in the Louisville metropolitan area. The company is focused on providing “everything you need for all the pets you feed” and offers a broad selection of premium pet food brands and products. Feeders Supply was founded in 1959 and is headquartered in Louisville, Kentucky.

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Buyer(S) 2

Buyer

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 11 of 37
Sector: Retail M&A 1 of 3
Type: Recapitalization M&A Deals 2 of 4
State: Kentucky M&A 1 of 1
Country: United States M&A 11 of 31
Year: 2016 M&A 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-01-04 Stella Rising

New York, New York, United States

Stella Rising is a media strategy, planning and buying company to emerging and established brands in the fashion, beauty, health, food and beverage industries. Stella Rising was established in 1982 and is based in New York City.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-06-14 Steelite

Staffordshire, United Kingdom

Steelite is a manufacturer, designer, distributor, and supplier of award-winning tabletop and buffet products for the hospitality and foodservice industries. Steelite was founded in 1983 and is based in Staffordshire, United Kingdom.

Buy -
Buyer

Golub Capital

New York, New York, United States

Investor Investor Investor Investor Investor


Category Lender
Founded 1994
PE ASSETS 75.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Golub Capital is a private investment firm focused on making debt and equity investments in US based middle-market companies. Golub looks to invest between $5 and $75 million in businesses with established operating cash flow, strong customer relationships, and 'sustainable proprietary positions in their markets'. Prospective investment structures include refinancings, recapitalizations, buyouts, and growth financings. Sectors of interest include consumer products, business and consumer services, defense, manufacturing, value-added distribution, media, healthcare services and restaurants. Golub Capital was formed in 1994 and maintains offices in New York City, Atlanta, and Chicago.


DEAL STATS #
Overall 46 of 69
Sector: Retail M&A 5 of 8
Type: Recapitalization M&A Deals 5 of 10
State: Kentucky M&A 1 of 1
Country: United States M&A 46 of 66
Year: 2016 M&A 3 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-03-08 Quickbase

Boston, Massachusetts, United States

Quickbase provides a cloud-based platform that empowers problem solvers to quickly turn ideas for better ways to work into apps that make their organizations more efficient. Quickbase was founded in 1999 and is based in Boston, Massachusetts.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-07-11 Pet Supermarket

Sunrise, Florida, United States

Pet Supermarket is a specialty retailer of pet food and pet-related supplies. Pet Supermarket operates 155 stores offering customers a broad assortment of premium and holistic pet food and supplies with friendly and knowledgeable service. Pet Supermarket was founded in 1973 and is based in Sunrise, Florida.

Sell -