M&A Deal Summary

Summit Partners and Goldman Sachs Asset Management Acquire Animal Supply Company

On February 26, 2019, growth capital firm Summit Partners and Goldman Sachs Asset Management acquired consumer products company Animal Supply Company from Halifax Group

Acquisition Highlights
  • This is Summit Partners’ 9th and Goldman Sachs Asset Management’s 1st transaction in the Consumer Products sector.
  • This is Summit Partners’ 284th and Goldman Sachs Asset Management’s 5th transaction in the United States.
  • This is Summit Partners’ 22nd and Goldman Sachs Asset Management’s 2nd transaction in Texas.

M&A Deal Summary
Date 2019-02-26
Target Animal Supply Company
Sector Consumer Products
Buyer(s) Summit Partners
Goldman Sachs Asset Management
Sellers(s) Halifax Group
Deal Type Secondary Buyout

Target

Animal Supply Company

Grand Prairie, Texas, United States
Animal Supply Company is a pet food and supply distributor that provides weekly service to customers nationwide. With more than 1,000,000 square feet of warehouse space and some of the most advanced distribution technologies available, the company delivers over 15,000 unique SKUs to more than 9,000 customers with market-leading efficiency and accuracy. Animal Supply Company was formed in 1987 and is based in Grand Prairie, Texas.

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Buyer(S) 2

Buyer

Summit Partners

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor

Category Growth Capital Firm
Founded 1984
PE ASSETS 39.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Summit Partners is a private investment and asset management firm focused on venture, growth, credit, and public equity investing. Sectors of interest include business services, communications technology and services, consumer products, energy, financial services, healthcare and life sciences, industrial products, internet/information services, media/entertainment, semiconductors, electronics, and software. Summit Partners is known for having a proactive business development group for sourcing transactions. Summit will consider both minority or majority investment stakes and is willing to commit as little as $10 million or as much as $500 million in combined debt/junior capital per transaction. The Firm's geographic coverage spans North America and Europe. Summit Partners was formed in 1984 and is headquartered in Boston, Massachusetts.

DEAL STATS #
Overall 329 of 386
Sector (Consumer Products) 9 of 11
Type (Secondary Buyout) 21 of 27
State (Texas) 22 of 26
Country (United States) 284 of 319
Year (2019) 5 of 11
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-02-13 US Renal Care

Plano, Texas, United States

US Renal Care is a provider of outpatient treatment centers for persons suffering from chronic and acute renal disease. The company serves more than 25,000 patients in 335 dialysis facilities in 32 states and the Territory of Guam. US Renal Care was founded in 2000 and is based in Plano, Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-03-01 Acturis

London, United Kingdom

Acturis offers a multi-tenant SaaS platform providing administration, distribution, and underwriting capabilities to insurers and insurance brokers. Acturis was founded in 2000 and is based in London, United Kingdom.

Sell -
Buyer

Goldman Sachs Asset Management

New York, New York, United States
Category Company
Sector Financial Services
DESCRIPTION

Goldman Sachs Asset Management (dba GSAM) is the asset management arm of The Goldman Sachs Group. GSAM offers advisory services to individuals and institutional clients around the world from offices in the US, Europe, and Asia.

DEAL STATS #
Overall 6 of 18
Sector (Consumer Products) 1 of 1
Type (Secondary Buyout) 2 of 5
State (Texas) 2 of 2
Country (United States) 5 of 15
Year (2019) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-06-24 Visual Comfort

Houston, Texas, United States

Visual Comfort is a lighting company with a portfolio of fashionable and functional lighting fixtures, ceiling fans, and decorative products. Visual Comfort was founded in 1987 and is based in Houston, Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-03-18 Standard & Poor s Investment Advisory Services

New York, New York, United States

Standard & Poor's Investment Advisory Services provides non-discretionary investment advice across institutional sub-advisory and intermediary distribution channels globally. It advises on more than $33 billion in assets across multi-asset, equity and fixed income strategies as of December 31, 2018.

Buy -

Seller(S) 1

SELLER

Halifax Group

Washington, District of Columbia, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1999
PE ASSETS 1.5B USD
Size Large
Type Sector Agnostic
DESCRIPTION

The Halifax Group is a private equity firm focused on investing in established, profitable, and growing companies. The Firm prefers completing transactions in partnership with management and typically looks to invest $40 to $80 million per acquisition. Prospective companies generally have revenues of at least $20 million and EBITDA greater than $8 million. Sectors of interest include business services, healthcare services, infrastructure services, and 'wellness' products and services. Halifax prefers opportunities located in North America. The Halifax Group was formed in 1999 and is based in Washington, DC, with additional offices in Dallas, Texas and Raleigh, North Carolina.

DEAL STATS #
Overall 20 of 24
Sector (Consumer Products) 1 of 2
Type (Secondary Buyout) 10 of 14
State (Texas) 3 of 3
Country (United States) 16 of 20
Year (2019) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-01-30 K2 Industrial Services

Houston, Texas, United States

K2 Industrial Services is a provider of industrial coatings, insulation, fireproofing, industrial cleaning, scaffolding, roofing, refractory, and metal building erection services. K2 Industrial Services, Inc. was founded in 1995 and is based in Houston, Texas.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-06-18 StrataTech Education Group

Phoenix, Arizona, United States

StrataTech Education Group is focused on the education, growth, and development of specialized career education schools, particularly skilled-trade programs designed to address the nation’s growing infrastructure needs. StrataTech Education Group is based in Phoenix, Arizona.

Buy -
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