Recapitalization • Business Services

Prospect Partners Acquires Wedgewood Wedding & Banquet Center

On February 19, 2014, private equity firm Prospect Partners acquired business services company Wedgewood Wedding & Banquet Center

Acquisition Context
  • This is Prospect Partners’ 5th transaction in the Business Services sector.
  • This is Prospect Partners’ 45th transaction in the United States.
  • This is Prospect Partners’ 5th transaction in California.

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M&A Deal Summary

Date February 19, 2014
Target Wedgewood Wedding & Banquet Center
Sector Business Services
Buyer(s) Prospect Partners
Deal Type Recapitalization

Target Company

Wedgewood Wedding & Banquet Center

Temecula, California, United States
Wedgewood Wedding & Banquet Center is a full-service provider of wedding and banquet services in western states including California, Arizona, Nevada, and Colorado. Wedgewood Wedding & Banquet Center was established in 1986 and is based in Temecula, Calfornia.
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Buyer Overview 1

Buyer

Prospect Partners

Chicago, Illinois, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1998
PE ASSETS 470M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Prospect Partners, LLC is a lower middle-market private equity firm that focuses on management buyouts and recapitalization of small companies. Prospect looks to invest $2 to $30 million of equity capital in companies with revenues of $15 to $100 million and EBITDA up to $10 million. The Firm targets opportunities in a variety of sectors spanning many sub-sectors of manufacturing, specialty distribution, and service. Transactions of interest include leverage recapitalizations, industry consolidations, corporate orphans, generational sales, under-managed companies, and backing independent equity sponsors. Prospect Partners was formed in 1998 and is based in Chicago, Illinois.


Deal Context for Buyer #
Overall 45 of 58
Sector: Business Services 5 of 7
Type: Recapitalization 16 of 22
State: California 5 of 5
Country: United States 45 of 58
Year: 2014 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-01-29 Owen Equipment

Portland, Oregon, United States

Owen Equipment is a provider of specialty equipment platforms providing critical infrastructure solutions to municipal, utility, and commercial customers throughout the western United States. Owen serves as a dealer of new and pre-owned equipment, provides related parts and maintenance services, and maintains a large fleet of rental equipment used for sewer maintenance, hydro/vacuum excavation, street cleaning, and waste management applications. Owen Equipment was founded in 1958 and is based in Portland, Oregon.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-04-25 Gold Star Foods

Ontario, California, United States

Gold Star Foods is a niche foodservice distributor specializing in the sale and distribution of a wide array of food and non-food products to public school districts serving students ages K-12 in California and Arizona. Gold Star Foods was formed in 1966 and is based in Ontario, California.

Sell -