M&A Deal Summary

Prospect Hill Growth Partners Acquires Cycle Gear

On January 8, 2015, private equity firm Prospect Hill Growth Partners acquired retailer Cycle Gear from Harvest Partners Private Equity

Acquisition Highlights
  • This is Prospect Hill Growth Partners’ 3rd transaction in the Retail sector.
  • This is Prospect Hill Growth Partners’ 20th transaction in the United States.
  • This is Prospect Hill Growth Partners’ 3rd transaction in California.

M&A Deal Summary

Date 2015-01-08
Target Cycle Gear
Sector Retail
Buyer(s) Prospect Hill Growth Partners
Sellers(s) Harvest Partners Private Equity
Deal Type Secondary Buyout
Advisor(s) Piper Jaffray Companies
Financo (Financial)
White & Case (Legal)

Target

Cycle Gear

Benicia, California, United States
Cycle Gear is an omni-channel retailer of apparel, accessories, and parts dedicated to motorcycle riders and enthusiasts through its equity investments in RevZilla, which operate as independent sister companies. Cycle Gear delivers a best-in-class shopping experience across its footprint of 146 stores in 36 states while RevZilla advances the digital shopping experience through an innovative technology and media platform, digital expertise and award-winning customer service. Cycle Gear was founded in 1974 and is based in Benicia, United States.

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Buyer(S) 1

Buyer

Prospect Hill Growth Partners

Waltham, Massachusetts, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1995
PE ASSETS 2.7B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Prospect Hill Growth Partners is a private equity firm specializing in leveraged buyouts and recapitalizations of middle-market growth companies across the US. Prospect Hill looks for profitable businesses ($5 to $25 million of EBITDA) with annual revenues from $50 to $300 million with strong brands and leading market positions. Target sectors include consumer products, healthcare, specialty retail, and asset management. Prospect Hill Growth Partners was formerly known as J.W. Childs and changed its name in 2019. The Firm was originally formed in 1995 and is headquartered in Waltham, Massachusetts.


DEAL STATS #
Overall 20 of 32
Sector (Retail) 3 of 5
Type (Secondary Buyout) 8 of 15
State (California) 3 of 4
Country (United States) 20 of 32
Year (2015) 2 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-01-07 Kosta Browne Winery

Sebastopol, California, United States

Kosta Browne Winery is a winery that produces appellation Pinot Noirs and Chardonnay, as well as single-vineyard Pinot Noirs, sourced from coveted vineyards across three appellations in California: Sonoma Coast, Russian River Valley, and Santa Lucia Highlands. Kosta Browne Winery was founded in 1997 and is based in Sebastopol, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-08-04 Shoe Sensation

Jeffersonville, Indiana, United States

Shoe Sensation is a footwear retailer serving communities across the Midwest. Shoe Sensation was founded in 1984 and is based in Jeffersonville, Indiana.

Buy -

Seller(S) 1

SELLER

Harvest Partners Private Equity

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1981
PE ASSETS 5.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Harvest Partners is a private equity firm that targets buyout and growth capital investments in middle-market public and private companies. Harvest Partners looks to invest in profitable ($30 to $300 million of EBITDA) consumer products/retail, manufacturing, marketing, building products, industrial, specialty services, and value-added distribution companies valued between $100 and $600 million. The Firm prefers opportunities headquartered in North America. Harvest Partners was formed in 1981 and is based in New York City.


DEAL STATS #
Overall 16 of 30
Sector (Retail) 1 of 1
Type (Secondary Buyout) 9 of 17
State (California) 1 of 2
Country (United States) 14 of 27
Year (2015) 1 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-11-05 Packers Sanitation Services

Mt. Pleasant, Iowa, United States

PSSI is a provider of outsourced cleaning services to the beef, pork and poultry processing industries. PSSI also cleans other specialized food preparation plants including those that process salads and pizza toppings. PSSI has grown rapidly due to increased outsourcing of cleaning services and added focus on food safety.

Sell $1.0B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-01-26 Regency Energy Partners

Dallas, Texas, United States

Regency Energy Partners LP is a growth-oriented, master limited partnership engaged in the gathering and processing, compression, treating and transportation of natural gas; the transportation, fractionation and storage of natural gas liquids; the gathering, transportation and terminaling of oil (crude and/or condensate) received from producers; and the management of coal and natural resource properties in the United States.

Sell $18M