M&A Deal Summary

Sentinel Capital Partners and NMP Capital Acquire cabi

On March 2, 2017, private equity firm Sentinel Capital Partners and mezzanine finance firm NMP Capital acquired retailer cabi from Irving Place Capital and J.H. Whitney Capital Partners

Acquisition Highlights
  • This is Sentinel Capital Partners’ 5th and NMP Capital’s 1st transaction in the Retail sector.
  • This is Sentinel Capital Partners’ 59th and NMP Capital’s 64th transaction in the United States.
  • This is Sentinel Capital Partners’ 6th and NMP Capital’s 8th transaction in California.

M&A Deal Summary
Date 2017-03-02
Target cabi
Sector Retail
Buyer(s) Sentinel Capital Partners
NMP Capital
Sellers(s) Irving Place Capital
J.H. Whitney Capital Partners
Deal Type Secondary Buyout

Target

cabi

Compton, California, United States
cabi is a direct seller of women’s apparel and accessories with nearly 3,500 independent stylists who conduct shows in the homes of more than 78,000 hostesses throughout the U.S., U.K., and Canada. cabi was founded in 2002 and is based in Compton, California.

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Buyer(S) 2

Buyer

Sentinel Capital Partners

New York, New York, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1995
PE ASSETS 11.2B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Sentinel Capital Partners is a private equity firm that targets investments in middle-market companies with strong management and 'attractive growth prospects'. Sentinel looks to invest up to $400 million of equity in companies generating EBITDA of up to $65 million. Sectors of interest include business services/outsourcing, consumer products and services, food and restaurants, franchising, and manufacturing. Prospective transaction situations include management buyouts, recapitalizations, corporate divestitures, take-privates, and growth capital financings. Sentinel Capital Partners was formed in 1995 and is based in New York, New York.

DEAL STATS #
Overall 65 of 96
Sector (Retail) 5 of 6
Type (Secondary Buyout) 18 of 36
State (California) 6 of 7
Country (United States) 59 of 89
Year (2017) 2 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-01-03 Altima Dental

Toronto, Ontario, Canada

Altima Dental is a dental services organization that focuses on supporting superior patient care, best clinical practices, and true partnership with dentists. Altima Dental was founded in 1993 and is based in Toronto, Ontario.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-03-10 ECM Industries

New Berlin, Wisconsin, United States

ECM Industries is a manufacturer and supplier of electrical products for construction, maintenance, lighting, irrigation, landscape supply, and gas utility markets. ECM Industries is based in New Berlin, Wisconsin.

Sell -
Buyer

NMP Capital

Minneapolis, Minnesota, United States

Investor Investor Investor Investor Investor

Category Mezzanine Finance Firm
Founded 2000
PE ASSETS 4.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

NMP Capital is an independent investment firm focused on providing junior capital to a variety of lower middle-market companies in partnership with financial sponsors. NMP looks to commit $20 to $75 million in profitable companies with at least $10 million of EBITDA. NMP will consider opportunities in a wide range of industries including distribution, manufacturing, healthcare, and consumer. NMP Capital was formed in 2000 and is based in Minneapolis, Minnesota.

DEAL STATS #
Overall 66 of 88
Sector (Retail) 1 of 2
Type (Secondary Buyout) 18 of 31
State (California) 8 of 8
Country (United States) 64 of 85
Year (2017) 1 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-11-21 Stanton Carpet

Syosset, New York, United States

Stanton Carpet is a designer and distributor of decorative, high-quality branded carpet and custom rugs and runners. The Stanton family of brands are available through approximately 4,000 retail partners nationwide, including independent retail floor showrooms, trade showrooms and home furnishing retailers. Stanton Carpet was founded in 1980 and is based in Syosset, New York.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-03-10 ECM Industries

New Berlin, Wisconsin, United States

ECM Industries is a manufacturer and supplier of electrical products for construction, maintenance, lighting, irrigation, landscape supply, and gas utility markets. ECM Industries is based in New Berlin, Wisconsin.

Sell -

Seller(S) 2

SELLER

Irving Place Capital

New York, New York, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1997
PE ASSETS 4.4B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Irving Place Capital (formerly Bear Stearns Merchant Banking) is an independent private equity firm focused on making investments in middle-market companies located in North America and Western Europe. Irving primarily looks for opportunities in the retail, financial services, consumer products and packaging sectors, but will also consider investments in other traditional and service based businesses such as restaurants, transportation/logistics, healthcare, energy, and industrial products/services. The Firm's target investment size is $50 to $250 million of equity capital and EBITDA in excess of $7 million. Prospective transaction situations include traditional management buyouts, growth capital financings, divestitures, consolidations, and recapitalizations. Irving Place is based in New York City.

DEAL STATS #
Overall 30 of 39
Sector (Retail) 5 of 6
Type (Secondary Buyout) 8 of 12
State (California) 4 of 4
Country (United States) 24 of 32
Year (2017) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-11-24 Dynojet

Las Vegas, Nevada, United States

Dynojet is a manufacturer of aftermarket performance-enhancing automotive parts and accessories as well as diagnostic equipment for the Powersports industry. Dynojet was founded in 1972 and is based in North Las Vegas, Nevada.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-05-10 National Surgical Healthcare

Chicago, Illinois, United States

National Surgical Hospitals, Inc. partners with orthopedic surgeons and neurosurgeons to build specialty hospitals through development of de novo specialty hospitals, and by acquiring and converting ambulatory surgery centers into specialty hospitals.

Sell $760M
SELLER

J.H. Whitney Capital Partners

New Canaan, Connecticut, United States
Category Private Equity Firm
Founded 1946
PE ASSETS 1.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

J.H. Whitney & Co. is a private equity firm focused on small and middle-market buyouts and recapitalizations of US-based, growth-oriented companies. The Firm targets companies with $50 to $500 million in revenue and looks to invest $20 to $125 million per transaction. Industries of interest include consumer, healthcare, specialty manufacturing, and business services. J.H. Whitney & Co. was formed in 1946 and is based in New Canaan, Connecticut.

DEAL STATS #
Overall 15 of 27
Sector (Retail) 2 of 2
Type (Secondary Buyout) 9 of 14
State (California) 2 of 2
Country (United States) 14 of 26
Year (2017) 2 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-01-26 3B Scientific

Hamburg, Germany

3B Scientific is a manufacturer and marketer of anatomical and biological teaching aids for science, healthcare and patient education. 3B Scientific was founded in 1948 and is based in Hamburg, Germany.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-03-16 Aveanna Healthcare

Atlanta, Georgia, United States

Aveanna Healthcare is a provider of pediatric home care with 180 locations in 23 states, and 26,000 caregivers currently serving over 40,000 patients. Aveanna Healthcare was founded in 2016 and is based in Atlanta, Georgia.

Buy -
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