M&A Deal Summary

Sentinel Capital Partners and NMP Capital Acquire L2 Brands

On November 16, 2022, private equity firm Sentinel Capital Partners and mezzanine finance firm NMP Capital acquired apparel/textiles company L2 Brands from Dominus Capital

Acquisition Highlights
  • This is Sentinel Capital Partners’ 3rd and NMP Capital’s 4th transaction in the Apparel/Textiles sector.
  • This is Sentinel Capital Partners’ 84th and NMP Capital’s 85th transaction in the United States.
  • This is Sentinel Capital Partners’ 4th and NMP Capital’s 5th transaction in Pennsylvania.

M&A Deal Summary
Date 2022-11-16
Target L2 Brands
Sector Apparel/Textiles
Buyer(s) Sentinel Capital Partners
NMP Capital
Sellers(s) Dominus Capital
Deal Type Secondary Buyout

Target

L2 Brands

Hanover, Pennsylvania, United States
L2 Brands is a manufacturer and supplier of branded collegiate-licensed apparel. L2 Brands provides a full apparel offering including high-quality t-shirts, fleece, and bottoms, as well as adjacent product categories such as spirit blankets and pillows. L2 Brands was founded in 1991 and is based in Hanover, Pennsylvania.

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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 91 of 95
Sector (Apparel/Textiles) 3 of 3
Type (Secondary Buyout) 34 of 35
State (Pennsylvania) 4 of 4
Country (United States) 84 of 88
Year (2022) 6 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-11-02 Nekoosa

Nekoosa, Wisconsin, United States

Nekoosa is a provider of specialty-engineered papers and films for the graphics and commercial print markets. The company's expertise spans coating, converting, and custom plastic extrusion capabilities, with a product offering that, includes application tapes, specialty synthetic papers, carbonless papers, and capping films. The Nekoosa family of brands includes Nekoosa Coated Products, RTape Corp., CET Films, and ClingZ. Nekoosa was formed in 2005 and is based in Nekoosa, Wisconsin.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-02-01 Apex Companies

Rockville, Maryland, United States

Apex is a multi-disciplinary environmental services firm with 28 branches located throughout the Eastern and Central United States. The company provides a broad platform of environmental services, including stormwater system design, engineering, and maintenance; ports, harbors, and water system design and engineering; environmental remediation; industrial hygiene services; and general site assessment, regulatory compliance, and environmental consulting work. Apex was formed in 1988 and is headquartered in Rockville, Maryland.

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 88 of 88
Sector (Apparel/Textiles) 4 of 4
Type (Secondary Buyout) 31 of 31
State (Pennsylvania) 5 of 5
Country (United States) 85 of 85
Year (2022) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-07-26 Vehicle Management Solutions

Mokena, Illinois, United States

Vehicle Management Solutions (VMS) is a provider of end-to-end vehicle management solutions including dispatch, vehicle storage and traffic incident management. The Company’s mission is to keep streets, roads and highways moving more safely and effectively. With a nationwide presence in 16 cities across 12 states, VMS focuses on building long-term relationships with states, municipalities, law enforcement agencies, insurance companies, logistics companies and various other clients to serve their communities. Vehicle Management Solutions was founded in 2005 and is based in Mokena, Illinois.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-04-03 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 $1.1B

Seller(S) 1

SELLER

Dominus Capital

New York, New York, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2008
PE ASSETS 410M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Dominus Capital is a private equity firm that targets middle market companies throughout North America. The Firm focuses on companies with defensible market positions, strong free cash flows and margins, untapped growth potential, and 'exceptional' management. Dominus seeks companies generating EBITDA of at least $10 million. Areas of interest include building products, business services, consumer products and services, distribution, food production and services, light manufacturing, restaurants, specialty chemicals and specialty retail. Dominus will consider a variety of transactions types, including buyouts and recapitalizations. Dominus Capital was formed in 2008 and is based in New York City.

DEAL STATS #
Overall 10 of 10
Sector (Apparel/Textiles) 3 of 3
Type (Secondary Buyout) 3 of 3
State (Pennsylvania) 2 of 2
Country (United States) 10 of 10
Year (2022) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-01-14 Uptime Institute

New York, New York, United States

Uptime Institute is a data center design, construction, and operations certification and consulting. Uptime Institute was founded in 1993 and is based in New York.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-05-29 Safe Haven Defense

Phoenix, Arizona, United States

Safe Haven Defense is a premier security window film solutions provider across diverse end markets and serves numerous end markets, including education, commercial, retail, government, and healthcare. Safe Haven Defense was founded in 2018 and is based in Phoenix, Arizona.

Buy -
Mergr

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