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M&A Deal Summary

PNC Riverarch Capital Acquires Messenger

On February 8, 2022, private equity firm PNC Riverarch Capital acquired consumer products company Messenger

Acquisition Highlights
  • This is PNC Riverarch Capital’s 4th transaction in the Consumer Products sector.
  • This is PNC Riverarch Capital’s 24th transaction in the United States.
  • This is PNC Riverarch Capital’s 2nd transaction in Indiana.

M&A Deal Summary
Date 2022-02-08
Target Messenger
Sector Consumer Products
Buyer(s) PNC Riverarch Capital
Deal Type Buyout (LBO, MBO, MBI)
Advisor(s) Livingstone Partners (Financial)

Target

Messenger

Auburn, Indiana, United States
Messenger is a comprehensive provider of memorialization products, tech-enabled financial services, and technology solutions to funeral homes nationwide. The Company built its best-in-class reputation and unrivaled customer network over 100+ years as a manufacturer and marketer of memorial stationery, urns, and specialty consumer products, including jewelry and other keepsakes. In recent years, Messenger leveraged its powerful distribution reach, brand equity, and industry relationships to broaden its product lines to include innovative technology and life insurance assignment solutions through the funeral home and cemetery specialty retail channel. Messenger was founded in 1913 and is based in Auburn, Indiana.

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Buyer(S) 1

Buyer

PNC Riverarch Capital

Pittsburgh, Pennsylvania, United States

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 28 of 37
Sector (Consumer Products) 4 of 5
Type (Buyout (LBO, MBO, MBI)) 8 of 9
State (Indiana) 2 of 2
Country (United States) 24 of 31
Year (2022) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-12-01 Messenger

Auburn, Indiana, United States

Messenger is a manufacturer and distributor of specialty stationery and related products to the death care industry. Messenger products are sold to over 8,000 funeral home directors who, in turn, retail these products to families for use at memorial services. Messenger was founded in 1913 and is based in Auburn, Indiana.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-07-01 Chef Merito

Van Nuys, California, United States

Chef Merito is a manufacturer and distributor of branded seasonings, spices, marinades and other flavor solutions to the Hispanic grocery and foodservice market. Chef Merito was founded in 1985 and is based in Van Nuys, California.

Buy -
Mergr

Product

Company

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