M&A Deal Summary

TriSpan and Tamarix Capital Acquire FoodPrep Solutions

On June 1, 2020, private equity firms TriSpan and Tamarix Capital acquired machinery company FoodPrep Solutions

Acquisition Highlights
  • This is TriSpan’s 1st and Tamarix Capital’s 1st transaction in the Machinery sector.
  • This is TriSpan’s 6th and Tamarix Capital’s 4th transaction in the United States.
  • This is TriSpan’s 1st and Tamarix Capital’s 1st transaction in Connecticut.

M&A Deal Summary
Date 2020-06-01
Target FoodPrep Solutions
Sector Machinery
Buyer(s) TriSpan
Tamarix Capital
Deal Type Consolidation

Target

FoodPrep Solutions

Stamford, Connecticut, United States
FoodPrep Solutions provides outsourced cutlery exchange services as well as foodservice equipment sales & services to a diverse set of end-markets that includes restaurants, supermarkets, delis, caterers, hotels, schools, healthcare facilities, and food processors all through a route-based distribution model. FoodPrep Solutions was founded in 2020 and is based in Stamford, Connecticut.

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Buyer(S) 2

Buyer

TriSpan

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2015
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

TriSpan LLP is a private equity firm that manages several middle-market funds, an industry agnostic fun focused on opportunities in business services, healthcare, consumer, and industrial, and a restaurant centric fund that targets fast growing chains and restaurant concepts. TriSpan LLP was established in 2015 and has offices in London and New York.

DEAL STATS #
Overall 10 of 18
Sector (Machinery) 1 of 1
Type (Consolidation) 2 of 2
State (Connecticut) 1 of 1
Country (United States) 6 of 11
Year (2020) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-06-03 ProSmile

Ambler, Pennsylvania, United States

ProSmile is a dental service organization that provides non-clinical business services to dental practices operating in New Jersey, Pennsylvania, and Maryland. Their practices offer a range of comprehensive dental services for adults, children, and infants, from basic exams and cleanings to specialty services, including pediatrics, endodontics, periodontics, orthodontics, and oral surgery.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-10-30 Naya

New York, New York, United States

Naya is an operator of fast-casual Middle Eastern/Mediterranean concept. The contemporary counter-service eatery serves fully customizable yet simple entrees that combine a variety of proteins, carbohydrates, and toppings in large portions. Hot items include falafel, chicken/beef shawarma, chicken taouk, and kafta. Cold items include hummus, baba ghanoush, tabbouleh, and grape leaves. Naya was founded in 2008 and is based in New York City.

Buy -
Buyer

Tamarix Capital

New York, New York, United States

Investor

Category Private Equity Firm
Founded 1994
PE ASSETS 1.0B USD
Size Small
Type Sector Agnostic
DESCRIPTION

Tamarix Capital is a lower middle-market investment firm focused on providing debt and/or equity to fund management buyouts, shareholder liquidity events, succession issues, generational changes, or growth needs. Tamarix generally pursues family-owned or closely-held businesses with $10 to $120 million in revenue. Sectors of interest include business services, industrial/niche manufacturing, consumer products and services, distribution, and healthcare services. Tamarix is based in New York City with an additional office in Chicago.

DEAL STATS #
Overall 4 of 10
Sector (Machinery) 1 of 1
Type (Consolidation) 1 of 3
State (Connecticut) 1 of 2
Country (United States) 4 of 10
Year (2020) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-05-04 Convene

New York City, New York, United States

Convene is a developer and operator of urban day conference centers. Convene provides an ideal outsourced model for meetings, conferences, board sessions, investor presentations, corporate gatherings and training needs. Its suite of services includes meeting and collaboration space rental along with staffing, audiovisual, catering and conference planning support. Convene was founded in 2009 and is based in New York City.

Sell $68M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-06-07 Catalogue Brands

Washington, District of Columbia, United States

Catalogue Brands is a restaurant group that develops and scales local foodservice concepts, with current brands including Ted’s Bulletin, Federalist Pig, and Honeymoon Chicken. Catalogue Brands is based in Washington, District of Columbia.

Buy -
Mergr

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