M&A Deal Summary

Pondera Holdings, Aldine Capital Partners and Promus Equity Partners Acquire Whisker

On December 13, 2019, private equity firm Pondera Holdings, mezzanine finance firm Aldine Capital Partners and private equity firm Promus Equity Partners acquired consumer products company Whisker

Acquisition Highlights
  • This is Pondera Holdings’ 1st, Aldine Capital Partners’ 4th and Promus Equity Partners’ 2nd transaction in the Consumer Products sector.
  • This is Pondera Holdings’ 1st, Aldine Capital Partners’ 44th and Promus Equity Partners’ 21st transaction in the United States.
  • This is Pondera Holdings’ 1st, Aldine Capital Partners’ 3rd and Promus Equity Partners’ 1st transaction in Michigan.

M&A Deal Summary
Date 2019-12-13
Target Whisker
Sector Consumer Products
Buyer(s) Pondera Holdings
Aldine Capital Partners
Promus Equity Partners
Deal Type Recapitalization
Advisor(s) Generational Capital Markets, Inc. (Financial)

Target

Whisker

Auburn Hills, Michigan, United States
Whisker is a technology consumer products company dedicated to designing, engineering, manufacturing, and marketing highly functional and easy-to-use pet products through its direct-to-consumer e-commerce platform. Whisker was founded in 1999 and is based in Auburn Hills, Michigan.

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Buyer(S) 3

Buyer

Pondera Holdings

Investor Investor Investor

Category Private Equity Firm
Size Small
Type Sector Agnostic
DESCRIPTION

Pondera Holdings is a private equity firm focused on North American businesses with significant growth potential in a variety of industries and situations. The Firm seeks companies with positive EBITDA, recurring revenue of at least $5 million, and differentiated products, services, or technology. Pondera Holdings is based in Chicago, Illinois.

DEAL STATS #
Overall 1 of 1
Sector (Consumer Products) 1 of 1
Type (Recapitalization) 1 of 1
State (Michigan) 1 of 1
Country (United States) 1 of 1
Year (2019) 1 of 1
Buyer

Aldine Capital Partners

Chicago, Illinois, United States

Investor Investor Investor Investor Investor

Category Mezzanine Finance Firm
Founded 2005
Size Small
Type Sector Agnostic
DESCRIPTION

Aldine Capital Partners is a mezzanine investment firm that provides mezzanine and junior capital financing to lower middle-market companies generating sales of at least $10 million and at least $2 million in EBITDA. Aldine invests in the range of $4 to $25 million per transaction. Types of transactions include management buyouts, acquisition financings, shareholder liquidity events, recapitalizations, and growth financings of smaller middle-market companies. Aldine will consider investments across the United States, but has a primary focus on opportunities in the Midwest. The Firm will not consider investments in start-ups, turnarounds, real estate, insurance, banking, and oil/gas. Aldine Capital was formed in 2005 and is based in Chicago, Illinois.

DEAL STATS #
Overall 44 of 70
Sector (Consumer Products) 4 of 6
Type (Recapitalization) 12 of 13
State (Michigan) 3 of 3
Country (United States) 44 of 70
Year (2019) 8 of 9
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-10-02 N.J. Sullivan

Dulles, Virginia, United States

N.J. Sullivan is a manufacturing and delivering niche, customized, industry-rated electrical enclosures, components include electrical junction boxes, switchgear cabinet enclosures. N.J. Sullivan was founded in 1958 and is based in Dulles, Virginia.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-12-20 Aptus

Charlotte, North Carolina, United States

Aptus is a turnkey utility infrastructure services business, providing inspection, engineering, installation, and maintenance services for bridge-attached utilities, primarily water drainage systems, and conduit piping. Additionally, the company provides inspection, protection, and remediation services for above-ground gas lines. Aptus’ customers include power utilities, telecommunications, natural gas providers, and general contractors for Departments of Transportation, predominately in the eastern half of the United States. Aptus was founded in 2005 and is based in Charlotte, North Carolina.

Buy -
Buyer

Promus Equity Partners

Chicago, Illinois, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2011
PE ASSETS 700M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Promus Equity Partners is a private investment firm affiliated with Promus Holdings, a multi-family office. Promus looks to fund buyouts, management buyouts, and recapitalizations as well as growth equity financings and strategic add-ons for existing portfolio companies. Sectors of interest include consumer products, food, beverages, industrial products, specialty materials, distribution, and business services. Target platform companies generally have up to $15 million of EBITDA. Promus Equity Partners was founded in 2011 and is based in Chicago, Illinois.

DEAL STATS #
Overall 22 of 27
Sector (Consumer Products) 2 of 3
Type (Recapitalization) 2 of 3
State (Michigan) 1 of 1
Country (United States) 21 of 26
Year (2019) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-06-18 Total Seal

Phoenix, Arizona, United States

Total Seal is a developer and manufacturer of performance piston rings and accessories for the automotive aftermarket and the broader industrial sector. Total Seal was founded in 1967 and is based in Phoenix, Arizona.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-01-07 Tarrytown Expocare Pharmacy

Austin, Texas, United States

Tarrytown Expocare Pharmacy is a long-term care pharmacy that serves individuals with intellectual and developmental disabilities. The Company provides prescription medication to IDD patients primarily residing in group homes and offers clinical administrative services to its facility partners. Tarrytown Expocare Pharmacy was founded in 2013 and is based in Austin, Texas.

Buy -
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