M&A Deal Summary

Sycamore Partners Acquires Essendant

On January 31, 2019, private equity firm Sycamore Partners acquired distribution company Essendant from Staples

Acquisition Highlights
  • This is Sycamore Partners’ 1st transaction in the Distribution sector.
  • This is Sycamore Partners’ 15th transaction in the United States.
  • This is Sycamore Partners’ 1st transaction in Illinois.

M&A Deal Summary

Date 2019-01-31
Target Essendant
Sector Distribution
Buyer(s) Sycamore Partners
Sellers(s) Staples
Deal Type Divestiture

Target

Essendant

Deerfield, Illinois, United States
Essendant's corporate headquarters in Deerfield, Illinois.
Essendant's corporate headquarters in Deerfield, Illinois.
Essendant is a national wholesale distributor of workplace items including traditional office products and office furniture, janitorial, sanitation and breakroom supplies, technology products, industrial supplies, and automotive aftermarket tools and equipment. Essendant was founded in 1922 and is based in Deerfield, Illinois.

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Buyer(S) 1

Buyer

Sycamore Partners

New York, New York, United States

Category Private Equity Firm
Founded 2011
PE ASSETS 10.0B USD
Size Mega
Type Sector Focused
DESCRIPTION

Sycamore Partners is an opportunistic and operationally focused private equity firm that targets businesses and divisions in the consumer and retail sectors. The Firm looks to partner with management teams to improve the operating profitability and strategic value of their businesses. Sycamore was formed in 2011 and is based in New York City.


DEAL STATS #
Overall 17 of 26
Sector (Distribution) 1 of 1
Type (Divestiture) 4 of 8
State (Illinois) 1 of 1
Country (United States) 15 of 22
Year (2019) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-11-07 Pure Fishing

Columbia, South Carolina, United States

Pure Fishing is a manufacturer and marketer of fishing tackle and accessories that sells products in 18 countries under the Berkley, Trilene, Abu Garcia, Mitchell, Fenwick, Spider, Johnson and Red Wolf brands. Pure Fishing, Inc. was founded in 1937 and is based in Columbia, South Carolina.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-07-31 Coldwater Creek

Cincinnati, Ohio, United States

Coldwater Creek is a women's apparel and accessories brand that has developed a loyal customer base over its history.

Sell -

Seller(S) 1

SELLER

Staples

Framingham, Massachusetts, United States

Category Company
Founded 1985
Sector Retail
Employees42,554
Revenue 18.2B USD (2017)
DESCRIPTION
Entrance to Staples' corporate headquarters in Framingham, Massachusetts.
Entrance to Staples' corporate headquarters in Framingham, Massachusetts.

Staples is an office supply retailer. Staples sells and distributes a variety of office products for consumers as well as small to large companies around the world. Staples was founded in 1985 and is based in Framingham, Massachusetts.


DEAL STATS #
Overall 9 of 10
Sector (Distribution) 2 of 2
Type (Divestiture) 9 of 10
State (Illinois) 2 of 2
Country (United States) 5 of 6
Year (2019) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-09-14 Essendant

Deerfield, Illinois, United States

Essendant is a national wholesale distributor of workplace items including traditional office products and office furniture, janitorial, sanitation and breakroom supplies, technology products, industrial supplies, and automotive aftermarket tools and equipment. Essendant was founded in 1922 and is based in Deerfield, Illinois.

Buy $996M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-02-11 DEX Imaging

Tampa, Florida, United States

DEX Imaging is an independent dealer of Kyocera, Konica Minolta, and Canon document imaging equipment. The company sells and services printers, copiers, fax units, and digital data management software. DEX Imaging was founded in 2002 and is based in Tampa, Florida.

Buy -