M&A Deal Summary

Sentinel Capital Partners Acquires High Bar Brands

On December 20, 2023, private equity firm Sentinel Capital Partners acquired automotive company High Bar Brands from Heartwood Partners

Acquisition Highlights
  • This is Sentinel Capital Partners’ 4th transaction in the Automotive sector.
  • This is Sentinel Capital Partners’ 86th transaction in the United States.
  • This is Sentinel Capital Partners’ 5th transaction in Minnesota.

M&A Deal Summary
Date 2023-12-20
Target High Bar Brands
Sector Automotive
Buyer(s) Sentinel Capital Partners
Sellers(s) Heartwood Partners
Deal Type Secondary Buyout
Advisor(s) Piper Sandler & Co. (Financial)
Holland & Knight (Legal)

Target

High Bar Brands

Owatonna, Minnesota, United States
High Bar Brands is a manufacturer and distributor of branded heavy-duty truck aftermarket accessories. Its products include fenders, brackets, floor mats, seats and several other product lines in and on the truck. High Bar Brands prides itself on its ability to leverage numerous marketing activities to reach end users, grow brand awareness and drive sales growth through their extensive distributor network. High Bar Brands was founded in 1984 and is based in Owatonna, Minnesota.

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Buyer(S) 1

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 93 of 95
Sector (Automotive) 4 of 4
Type (Secondary Buyout) 35 of 35
State (Minnesota) 5 of 5
Country (United States) 86 of 88
Year (2023) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-12-19 Online Labels

Sanford, Florida, United States

Online Labels provides a full suite of custom printed pressure sensitive, shrink sleeve, flexible packaging, and blank labels on sheets and rolls to small businesses, consumers, and middle-market brands via enterprise relationships and a direct-to-consumer e-commerce platform. Online Labels provides labeling solutions for consumer products such as food, health and beauty, and nutritional supplements, as well as numerous other products requiring primarily pressure sensitive labels. Online Labels was founded in 1980 and is based in Sanford, Florida.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-01-16 Market Performance Group

Princeton Junction, New Jersey, United States

Market Performance Group (MPG) is an omnichannel commerce agency providing strategy and consulting services. MPG offers end-to-end omnichannel capabilities and integrated solutions for a wide range of strategy and commercialization needs, including strategy & business consulting, omnichannel strategy & services, business analytics & insights, consumer marketing & retail activation, order to cash/3 PL, and FleXforce. The company provides short- or long-term, plug-and-play support for marketing, sales strategy, and other capability areas. Market Performance Group was formed in 2002 and is headquartered in Holmdel, New Jersey.

Buy -

Seller(S) 1

SELLER

Heartwood Partners

Norwalk, Connecticut, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1982
PE ASSETS 1.6B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Heartwood Partners is a private equity firm focused on partnerships with middle-market companies across the US. The Firm prefers to invest in family owned and managed companies where it can leverage strategic resources for long-term growth. Target companies are typically profitable with $5 to $30 million of EBITDA with up to $400 million in revenue. Sectors of interest include agriculture, automotive, consumer products, distribution, food, industrial services, niche manufacturing, packaging, and chemicals. Heartwood Partners was formed in 1982 and is headquartered in Norwalk, Connecticut.

DEAL STATS #
Overall 20 of 21
Sector (Automotive) 2 of 2
Type (Secondary Buyout) 9 of 9
State (Minnesota) 1 of 1
Country (United States) 20 of 21
Year (2023) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-12-14 Bush Brothers

West Palm Beach, Florida, United States

Bush Brothers focuses on high-end, center-of-the-plate offerings across several protein categories, including beef, poultry, lamb, pork, and wild game throughout Florida, as well as export service to the Caribbean and Central and South America. Bush Brothers was formed in 1925 and is based in West Palm Beach, Florida.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-09-16 Royal Products

Hauppauge, New York, United States

Royal Products manufactures and distributes branded metalworking performance accessories. The company optimizes the performance, productivity, and profitability of computer numerical control (“CNC”) machine tools. Royal Products is based in Hauppauge, New York.

Buy -
Mergr

Product

Company

Legal