M&A Deal Summary

Sunoco Acquires Mid-Atlantic Convenience Stores

On October 3, 2013, Sunoco acquired retailer Mid-Atlantic Convenience Stores from L Catterton Partners, GarMark Partners, Constitution Capital Partners and Quilvest Capital Partners

Acquisition Highlights
  • This is Sunoco’s 2nd transaction in the Retail sector.
  • This is Sunoco’s 2nd transaction in the United States.
  • This is Sunoco’s 1st transaction in Virginia.

M&A Deal Summary
Date 2013-10-03
Target Mid-Atlantic Convenience Stores
Sector Retail
Buyer(s) Sunoco
Sellers(s) L Catterton Partners
GarMark Partners
Constitution Capital Partners
Quilvest Capital Partners
Deal Type Add-on Acquisition

Target

Mid-Atlantic Convenience Stores

Richmond, Virginia, United States
Mid-Atlantic Convenience Stores (MACS) is a convenience store operator in Maryland and Virginia.

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Buyer(S) 1

Buyer

Sunoco

Philadelphia, Pennsylvania, United States
Category Company
Founded 1886
Sector Oil/Gas Exploration
DESCRIPTION

Sunoco, Inc. refines and markets petroleum products in the United States.

DEAL STATS #
Overall 2 of 2
Sector (Retail) 2 of 2
Type (Add-on Acquisition) 2 of 2
State (Virginia) 1 of 1
Country (United States) 2 of 2
Year (2013) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-04-02 Eagle Point

Westville, New Jersey, United States

Eagle Point is a 225 megawatt combined cycle natural gas facility, located across the Delaware River from Philadelphia. The plant sells energy and capacity into the PJM market. Eagle Point is based in Westville, New Jersey.

Sell -

Seller(S) 4

SELLER

L Catterton Partners

Greenwich, Connecticut, United States

Investor Investor Investor Investor Investor

Category Growth Capital Firm
Founded 1989
PE ASSETS 30.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

L Catterton is a private equity firm that targets investments in consumer-related companies located throughout North America. L Catterton looks for businesses with identifiable brands and operating in 'defensible and extensible' positions within growth industry segments. Specific sectors of interest include branded consumables, food/beverages, consumer services, restaurants, media and marketing, household durables, specialty retail, mass merchant retail, and luxury/apparel. Prospective transactions include management buyouts, recapitalizations, turnarounds, and growth financings. L Catterton was formed in 1990 and is based in Greenwich, Connecticut.

DEAL STATS #
Overall 33 of 101
Sector (Retail) 3 of 8
Type (Add-on Acquisition) 13 of 45
State (Virginia) 1 of 1
Country (United States) 31 of 75
Year (2013) 4 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-10-03 Protein Bar & Kitchen

Chicago, Illinois, United States

Protein Bar & Kitchen is a fast-casual restaurant chain specializing in healthy, on-the-go options. Protein Bar & Kitchen was founded in 2009 and is based in Chicago, Illinois.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-01-01 Hopdoddy Burger Bar

Austin, Texas, United States

Hopdoddy Burger Bar is an operater of fast food restaurant and bar. Hopdoddy Burger Bar was founded in 2010 and is based in Austin, Texas.

Buy -
SELLER

GarMark Partners

Stamford, Connecticut, United States

Investor Investor Investor Investor Investor

Category Mezzanine Finance Firm
Founded 1997
PE ASSETS 1.1B USD
Size Large
Type Sector Agnostic
DESCRIPTION

GarMark Partners is a private investment firm that makes debt and equity investments in a wide range of companies. The Firm invests in businesses at various stages of development to facilitate acquisitions, divestitures, recapitalizations, turnarounds or growth. Garmark typically invests between $5 and $30 million with an EBITDA $3 and $25 million. The firm prefers to invest in the sectors of manufacturing/industrial products, distribution, business services, consumer brands, food/nutrition products, transportation, healthcare, retail, and restaurants. GarMark Partners was formed in 1997 and is based in Stamford, Connecticut.

DEAL STATS #
Overall 15 of 21
Sector (Retail) 1 of 1
Type (Add-on Acquisition) 9 of 14
State (Virginia) 2 of 2
Country (United States) 13 of 19
Year (2013) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-04-02 Glo Skin Beauty

Denver, Colorado, United States

Glo Skin Beauty is a developer, marketer and distributor of mineral-based cosmetics and high-end skincare serving dermatologists, cosmetic surgeons, licensed aestheticians, spas/salons and select specialty retailers. Company brands include glominerals, mineral fusion, glotherapeutics, and glospa. Glo Skin Beauty was founded in 1997 and is based in Denver, Colorado.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-03-26 Anchor Drilling Fluids

Tulsa, Oklahoma, United States

Anchor Drilling Fluids is an onshore drilling fluids and fluid handling service company in United States, providing engineered drilling fluid solutions and well site services to oil and natural gas land drillers. Anchor Drilling Fluids was founded in 1984 and is based in Tulsa, Oklahoma.

Sell $235M
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 1 of 23
Sector (Retail) 1 of 1
Type (Add-on Acquisition) 1 of 11
State (Virginia) 1 of 1
Country (United States) 1 of 20
Year (2013) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-10-02 Acino

Zurich, Czech Republic

Acino is a pharmaceutical company focused on developing, manufacturing and marketing well-proven and innovative pharmaceuticals in novel drug delivery forms. Acino was founded in 1836 and is based in Zurich, Czech Republic.

Buy Fr.398M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-11-21 OmniSYS

Dallas, Texas, United States

OmniSYS is a provider of medical claims management and compliance IT services for pharmacies, durable medical equipment providers, managed care organizations, and commercial retiree plans. OmniSYS was founded in 1988 and is based in Dallas, Texas.

Buy -
SELLER

Quilvest Capital Partners

Paris, France

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1972
PE ASSETS 6.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Quilvest Capital Partners is the private equity investment arm of asset management firm Quilvest. Quilvest Capital Partners invests in private equity and debt funds as well as makes direct investments. The direct investment group looks for opportunities in the US, Europe, and 'opportunistically' in Asia with a preference for buyout, growth capital, and venture transactions. Quilvest Capital Partners will consider both minority and majority positions. Quilvest Capital Partners was established in 1972 and is based Paris.

DEAL STATS #
Overall 33 of 68
Sector (Retail) 2 of 2
Type (Add-on Acquisition) 12 of 27
State (Virginia) 1 of 3
Country (United States) 14 of 34
Year (2013) 7 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-08-01 Fertiláqua

Cidade Nova, Brazil

Fertiláqua is a specialty fertilizer company offering a competitive portfolio of high-value foliar fertilizers, seed treatment solutions and biostimulants for a wide array of crops, fruits, and vegetables.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-02-17 MultiPlan

New York, New York, United States

MultiPlan is a provider of technology-enabled healthcare cost management solutions. MultiPlan provides a single gateway to a host of analytics- and network-based solutions for managing the financial risks associated with medical claims, as well as solutions that improve payment integrity by resolving waste, abuse, and fraud before payments are made. MultiPlan was founded in 1980 and is based in New York City.

Sell $4.4B
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