M&A Deal Summary

The Carlyle Group, TA Associates and Rock Mountain Capital Acquire PurposeBuilt Brands

On March 27, 2019, private equity firms The Carlyle Group, TA Associates and Rock Mountain Capital acquired consumer products company PurposeBuilt Brands from Cortec Group

Acquisition Highlights
  • This is The Carlyle Group’s 19th, TA Associates’ 7th and Rock Mountain Capital’s 1st transaction in the Consumer Products sector.
  • This is The Carlyle Group’s 310th, TA Associates’ 225th and Rock Mountain Capital’s 1st transaction in the United States.
  • This is The Carlyle Group’s 19th, TA Associates’ 13th and Rock Mountain Capital’s 1st transaction in Illinois.

M&A Deal Summary

Date 2019-03-27
Target PurposeBuilt Brands
Sector Consumer Products
Buyer(s) The Carlyle Group
TA Associates
Rock Mountain Capital
Sellers(s) Cortec Group
Deal Type Secondary Buyout
Advisor(s) Baird
Kroll (Financial)
Jones Day (Legal)

Target

PurposeBuilt Brands

Gurnee, Illinois, United States
PurposeBuilt Brands is a platform of CPG brands focused on specialty cleaning products. PurposeBuilt Brands was founded in 1941 and is based in Gurnee, Illinois.

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Buyer(S) 3

Buyer

The Carlyle Group

Washington, District of Columbia, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1987
PE ASSETS 435.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION
Carlyle's corporate headquarters on Pennsylvania Ave. in Washington, DC.
Carlyle's corporate headquarters on Pennsylvania Ave. in Washington, DC.

The Carlyle Group is a global investment firm that pursues private equity, credit, and real estate investments worldwide. Carlyle's private equity practice practice pursues buyouts, strategic minority equity investments, equity private placements, consolidations and buildups, and growth capital financings. With offices in 19 countries, Carlyle can easily target opportunities throughout North America, Europe, Asia, Australia, the Middle East/North Africa and Latin America. Broad sectors of interest include aerospace, defense, automotive and transportation, consumer, retail, energy and power, financial services, healthcare, industrial, infrastructure, technology services, business services, telecommunications and media. The Carlyle Group was formed in 1987 and is based in Washington DC.


DEAL STATS #
Overall 643 of 749
Sector: Consumer Products M&A 19 of 22
Type: Secondary Buyout M&A Deals 99 of 130
State: Illinois M&A 19 of 22
Country: United States M&A 310 of 350
Year: 2019 M&A 8 of 28
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-03-15 Sankyo Rikagaku

Saitama, Japan

Sankyo Rikagaku is a coated abrasive manufacturer. Sankyo Rikagaku is based in Saitama, Japan.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-03-28 Savers

Bellevue, Washington, United States

Savers, Inc. is a global thrift retailer offering clothing and accessories for men, women and children and household goods under the Savers, Value Village, Village des Valeurs, Unique Thrift Store and Valu Thrift Store brands. Founded in 1954, Savers operates nearly 290 locations and has more than 17,000 employees across the United States, Canada and Australia.

Sell -
Buyer

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 292 of 374
Sector: Consumer Products M&A 7 of 9
Type: Secondary Buyout M&A Deals 44 of 74
State: Illinois M&A 13 of 15
Country: United States M&A 225 of 270
Year: 2019 M&A 7 of 14
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-01-31 Hana Group

Levallois-Perret, France

Hana Group is a global operator of in-store food kiosks in all retail formats and high traffic areas, offering ultra-fresh food on-the-go prepared by chefs in front of consumers, providing in-store entertainment and continuous product and concept innovation. Initially focused on sushi kiosks, Hana Group has developed other concepts, including pan-Asian food, as well as Italian and Mediterranean cuisines and operates under a portfolio of 14 brands. Hana Group was founded in 2012 and is based in Levallois-Perret, France.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-04-15 Indira IVF

Udaipur, India

Indira IVF is a fertility hospital serving a network spanning 116 centers across 20 states in India. The company provides Assisted Reproductive Technology services in India and completes approximately 40,000 IVF cycles annually. Indira IVF was founded in 1988 and is based in Udaipur, India.

Buy -
DESCRIPTION

Rock Mountain Capital is a private equity firm investing in and growing middle-market companies. Rock Mountain focuses on working with entrepreneurs and management teams in the consumer goods & services, technology, media & telecom (TMT), and consumer-facing healthcare services sectors to accelerate organizational development, execute on organic growth opportunities and pursue strategic M&A and roll-up/consolidation strategies. Rock Mountain Capital was founded in 2019 and is based in New York, New York.


DEAL STATS #
Overall 1 of 4
Sector: Consumer Products M&A 1 of 2
Type: Secondary Buyout M&A Deals 1 of 1
State: Illinois M&A 1 of 1
Country: United States M&A 1 of 4
Year: 2019 M&A 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-12-02 GeoLinks

Camarillo, California, United States

GeoLinks is a telecommunications company and competitive local exchange carrier (CLEC) public utility, providing innovative Internet and Hosted Voice solutions. GeoLinks was established in 2011 and is based in Camarillo, California.

Buy -

Seller(S) 1

SELLER

Cortec Group

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1984
PE ASSETS 6.4B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Cortec Group is a private equity firm focused on acquiring mid-sized businesses operating in basic industries. Cortec Group is an experienced and knowledgeable investor in healthcare products and services, B2C and B2B products, value-added distribution (including eCommerce), and specialty services companies with equity of $100-$500 million and EBITDA of $10 to $50 million. Cortec Group was formed in 1984 and is based in New York City.


DEAL STATS #
Overall 27 of 35
Sector: Consumer Products M&A 1 of 2
Type: Secondary Buyout M&A Deals 16 of 22
State: Illinois M&A 3 of 3
Country: United States M&A 27 of 34
Year: 2019 M&A 2 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-01-23 Levata

Chicago, Illinois, United States

Levata is a provider of products and services that enable businesses to digitally capture and act on data related to their assets, people, and transactions. Levata was founded in 1994 and is based in Chicago, Illinois.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-06-10 Aspen Medical Products

Irvine, California, United States

Aspen Medical Products is a designer, developer, manufacturer, and marketer of upper and lower spinal orthopedic bracing products. Aspen primarily sells its products through the acute care market, as they offer a high level of motion restriction and are used by patients in need of short-term treatment from severe injuries, have urgent medical conditions, and are recovering from surgery. Aspen Medical Products was founded in 2000 and is based in Irvine, California.

Buy -