M&A Deal Summary

Spectrum Brands Acquires Armored AutoGroup

On May 22, 2015, Spectrum Brands acquired automotive company Armored AutoGroup from Avista Healthcare Partners and Constitution Capital Partners for 1.4B USD

Acquisition Highlights
  • This is Spectrum Brands’ 1st transaction in the Automotive sector.
  • This is Spectrum Brands’ 2nd largest (disclosed) transaction.
  • This is Spectrum Brands’ 11th transaction in the United States.
  • This is Spectrum Brands’ 1st transaction in Connecticut.

M&A Deal Summary

Date 2015-05-22
Target Armored AutoGroup
Sector Automotive
Buyer(s) Spectrum Brands
Sellers(s) Avista Healthcare Partners
Constitution Capital Partners
Deal Type Add-on Acquisition
Deal Value 1.4B USD

Target

Armored AutoGroup

Danbury, Connecticut, United States
Armored AutoGroup Inc. is a consumer products company consisting primarily of Armor All and STP, two of the most iconic brands in the automotive aftermarket appearance products and performance products categories.

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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 15 of 21
Sector (Automotive) 1 of 1
Type (Add-on Acquisition) 9 of 13
State (Connecticut) 1 of 1
Country (United States) 11 of 16
Year (2015) 1 of 1
Size (of disclosed) 2 of 10
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-09-23 The Procter & Gamble - Pet Food Brands

United States

The Procter & Gamble - Pet Food Brands consisting of the complementary IAMS and Eukanuba premium brands for dogs and cats. Eukanuba, a premium brand in the pet specialty channel, is the product of choice for the Federation Cynologique Internationale, a global federation of kennel clubs, as well as top breeders and veterinarians with leading shares in many large markets, including Sweden, Norway and Belgium. IAMS, a premium brand with broad consumer appeal, has a leadership share of the premium dry dog food market in the U.K. primarily through the food and mass merchandiser channel with opportunities to grow further across Europe.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-05-15 PetMatrix

Saddle Book, New Jersey, United States

PetMatrix provides a broad portfolio of innovative, rawhide-free dog chews across its two flagship brands DreamBone and SmartBones. PetMatrix products are sold to mass merchandisers, food and drug stores, and pet specialty stores. The business benefits from a strong patent portfolio and has a robust pipeline of new products expected to drive future growth and product portfolio diversification opportunities.

Buy -

Seller(S) 2

SELLER

Avista Healthcare Partners

New York, New York, United States

Category Private Equity Firm
Founded 2005
PE ASSETS 8.0B USD
Size Mega
Type Sector Focused
DESCRIPTION

Avista Capital Partners is a private investment firm formed by a group of professionals with roots from DLJ Merchant Banking Partners. Avista makes controlling and minority investments in US based energy, healthcare, and media companies with revenues greater than $25 million. Typical transactions include leverage buyouts, build-ups, and growth capital financings. Avista Capital was formed in 2005 and is based in New York City with an additional office in Houston, Texas.


DEAL STATS #
Overall 14 of 30
Sector (Automotive) 1 of 1
Type (Add-on Acquisition) 8 of 15
State (Connecticut) 1 of 1
Country (United States) 12 of 24
Year (2015) 1 of 5
Size (of disclosed) 4 of 11
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-11-07 Syneos Health

Morrisville, North Carolina, United States

Syneos Health is a fully integrated biopharmaceutical solutions organization built to accelerate customer success. Syneos Health translate unique clinical, medical affairs and commercial insights into outcomes to address modern market realities. Syneos Health was founded in 2010 and is based in Morrisville, North Carolina.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-06-24 Lantheus Medical Imaging

North Billerica, Massachusetts, United States

Lantheus Medical Imaging is a supplier of radiopharmaceuticals and contrast agents for nuclear and ultrasound-based cardiovascular diagnostic imaging procedures. Lantheus Medical Imaging was founded in 1956 and is based in North Billerica, Massachusetts.

Sell -
SELLER

Constitution Capital Partners

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2008
PE ASSETS 5.9B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Constitution Capital Partners is a private equity and asset management firm focused on opportunities throughout North America. Constitution Capital typically invests in private equity partnerships, however the Firm also makes direct private equity and credit investments. Constitution Capital Partners does not have any sector preferences. Constitution Capital Partners was formed in 2008 and is headquartered in Andover, Massachusetts.


DEAL STATS #
Overall 8 of 23
Sector (Automotive) 1 of 1
Type (Add-on Acquisition) 6 of 11
State (Connecticut) 1 of 1
Country (United States) 8 of 20
Year (2015) 3 of 5
Size (of disclosed) 1 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-05-11 Creative Circle

Los Angeles, California, United States

Creative Circle LLC is a specialized staffing agency representing advertising, marketing,graphic communication, and interactive professionals. The Company currently lists many of the top advertising agencies, design firms, and corporations as clients.

Sell $570M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-11-04 Vision-Ease Lens

Ramsey, Minnesota, United States

Vision-Ease Lens, Inc. (Vision Ease) is a developer, manufacturer and marketer of ophthalmic lenses. It offers photochromic, light-responsive, polarized, and progressive line-free lenses; and lenses in polycarbonate, plastic, and glass materials.

Sell -