M&A Deal Summary

Spectrum Brands Acquires United Pet Group

On August 2, 2004, Spectrum Brands acquired consumer products company United Pet Group from TA Associates, Friend Skoler and Arrowhead Investment Management

Acquisition Highlights
  • This is Spectrum Brands’ 2nd transaction in the Consumer Products sector.
  • This is Spectrum Brands’ 2nd transaction in the United States.
  • This is Spectrum Brands’ 2nd transaction in Ohio.

M&A Deal Summary
Date 2004-08-02
Target United Pet Group
Sector Consumer Products
Buyer(s) Spectrum Brands
Sellers(s) TA Associates
Friend Skoler
Arrowhead Investment Management
Deal Type Add-on Acquisition

Target

United Pet Group

Cincinnati, Ohio, United States
United Pet Group, Inc. is a manufacturer and marketer of pet foods and supplies, as well as the largest manufacturer and marketer of aquatic products in the U.S.

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Buyer(S) 1

Buyer

Spectrum Brands

Middleton, Wisconsin, United States
Category Company
Sector Consumer Products
Employees12,100
Revenue 2.9B USD (2023)
DESCRIPTION

Spectrum Brands is a diversified consumer products company and a supplier of consumer batteries, residential locksets, residential builders’ hardware and faucets, shaving and grooming products, personal care products, small household appliances, specialty pet supplies, lawn and garden and home pest control products, and personal insect repellents. Spectrum Brands is based in Middleton, Wisconsin.

DEAL STATS #
Overall 3 of 21
Sector (Consumer Products) 2 of 11
Type (Add-on Acquisition) 2 of 13
State (Ohio) 2 of 3
Country (United States) 2 of 16
Year (2004) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2004-01-19 Ningbo Baowang Battery

Ninghai, China

Ningbo Baowang Battery Co. produces alkaline and heavy duty batteries for retail, OEM and private label customers. The company exports its batteries to customers throughout North and South America, Europe and Asia. In addition to export sales, Ningbo Baowang has been building its distribution and market share in China and now has 26 branches and regional sales offices and distribution throughout China.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2005-01-04 United Industries

Earth City, Missouri, United States

United Industries Corp. is a manufacturer of value-brand consumer products for the home, lawn and garden insect and weed control markets in the United States.

Buy $476M

Seller(S) 3

SELLER

TA Associates

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1968
PE ASSETS 65.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

TA Associates is a private equity firm that targets investments in middle-market and large companies around the world. TA will consider control or minority investments in profitable companies and looks to commit between $70 and $500 million per transaction. TA proactively reaches out to companies directly in sourcing potential investment opportunities. Prospective businesses are generally valued between $100 million and $3 billion. Areas of interest include technology, software, communications, financial services, healthcare, business services, semiconductors/electronics, and consumer products/services. In addition to investing equity capital, TA also makes subordinated debt investments. TA's geographic preference is North America, Asia/Pacific, and Europe. TA Associates was formed in 1968 and is based in Boston, Massachusetts.

DEAL STATS #
Overall 91 of 255
Sector (Consumer Products) 2 of 5
Type (Add-on Acquisition) 52 of 130
State (Ohio) 2 of 5
Country (United States) 88 of 206
Year (2004) 4 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2004-07-01 InstallShield Software

Schaumburg, Illinois, United States

InstallShield Software Corporation is the provider of automated application installation utilities sold to software developers.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2004-09-28 WebSideStory Search and Content Solutions

San Diego, California, United States

WebSideStory is a provider of Internet-based web audience analysis and Internet intelligence. The company takes the pulse of the Internet by analyzing and storing data from billions of web page views worldwide.

Sell -
SELLER

Friend Skoler

West Caldwell, New Jersey, United States
Category Private Equity Firm
Founded 1998
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Friend Skoler is a private equity firm that invests in profitable middle-market companies across a range of industries. The Firm looks to commit $10 to $100 million of equity capital in businesses valued between $3 and $20 million. Generally, target companies have at least $10 million in sales and $1 million of EBIT. Sectors of interest include manufacturing, distribution, business services, direct marketing, e-commerce, event photography, digital imaging, retail and branded consumer products companies. The Firm will consider transactions ranging from buyouts and recapitalizations to expansion and acquisition financings. Friend Skoler was formed in 1998 and is based in Saddle Brook, New Jersey.

DEAL STATS #
Overall 3 of 9
Sector (Consumer Products) 2 of 2
Type (Add-on Acquisition) 1 of 4
State (Ohio) 1 of 2
Country (United States) 2 of 8
Year (2004) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2004-07-26 Hopkins

Emporia, Kansas, United States

Hopkins is a manufacturer and marketer of specialized towing products and functional accessories for the automotive and recreational vehicle aftermarket. Hopkins was founded in 1953 and is based in Emporia, Kansas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2005-08-01 Ballet Jewels

New York, New York, United States

Ballet Jewels is a designer and marketer of costume jewelry sold by mass merchants, specialty retailers and department stores.

Buy -
SELLER

Arrowhead Investment Management

Greenwich, Connecticut, United States

Investor Investor Investor Investor

Category Mezzanine Finance Firm
Founded 1996
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Arrowhead Investment Management is a provider of subordinated debt, preferred stock and non-control common equity to mid-sized businesses. Arrowhead invests alongside private equity sponsors in acquisitions, buyouts, recapitalizations and growth capital transactions. Arrowhead is a generalist investor, however the Firm tends to focus on healthcare, packaging, chemicals, consumer products, industrial manufacturing, value-added distribution and business services. Arrowhead looks to commit $10 to $100 million in transactions valued up to $500 million. Arrowhead Investment Management was formed in 1996 and is based in Greenwich, Connecticut.

DEAL STATS #
Overall 4 of 24
Sector (Consumer Products) 2 of 5
Type (Add-on Acquisition) 1 of 5
State (Ohio) 1 of 2
Country (United States) 4 of 24
Year (2004) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2004-06-01 Bare Escentuals Beauty

San Francisco, California, United States

Bare Escentuals Beauty, Inc. is a developer and multi-channel marketer of cosmetics, skin care and body care products. Bare Escentuals Beauty was formed in 1999 and is based in San Francisco, California.

Buy $240M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2005-01-01 Ecovyst

Malvern, Pennsylvania, United States

Ecovyst is a worldwide producer of specialty inorganic performance chemicals, high-end catalysts and engineered glass beads for the consumer, oil & gas, transportation safety, specialty plastics and industrial markets. Ecovyst is based in Malvern, Pennsylvania.

Buy -
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