Recapitalization • Beverages

Farragut Capital Partners and TSG Consumer Partners Acquire Island Oasis

On April 1, 2008, mezzanine finance firm Farragut Capital Partners and private equity firm TSG Consumer Partners acquired beverage company Island Oasis

Acquisition Context
  • This is Farragut Capital Partners’ 1st and TSG Consumer Partners’ 2nd transaction in the Beverages sector.
  • This is Farragut Capital Partners’ 34th and TSG Consumer Partners’ 18th transaction in the United States.
  • This is Farragut Capital Partners’ 3rd and TSG Consumer Partners’ 1st transaction in Massachusetts.
Investment Fate
  • Island Oasis was sold to a publicly-traded strategic buyer in 2015.

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M&A Deal Summary

Date April 1, 2008
Target Island Oasis
Sector Beverages
Buyer(s) Farragut Capital Partners
TSG Consumer Partners
Deal Type Recapitalization

Target Company

Island Oasis

Walpole, Massachusetts, United States
Island Oasis, Inc. is a manufacturer and distributor of frozen and aseptic beverage products and related equipment which are sold throughout the United States and in many popular resort locations abroad.
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Buyers Overview 2

Buyer

Farragut Capital Partners

Chevy Chase, Maryland, United States

Investor Investor Investor Investor Investor


Category Mezzanine Finance Firm
Founded 2011
PE ASSETS 1.7B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Farragut Capital Partners LLC is a private investment firm that provides mezzanine and equity capital to help finance buyouts, generational transfers, growth capital financings, and recapitalizations. The Firm prefers asset-light businesses with unique and defensible market positions, stable business models, and reasonable capital expenditure and working capital needs. Sectors of interest include light and niche manufacturing, business services, distribution & logistics, and media. Farragut's target investment size is $2 to $10 million. Farragut Capital Partners was formed in 2011 and is based in Washington, District of Columbia.


Deal Context for Buyer #
Overall 34 of 98
Sector: Beverages 1 of 1
Type: Recapitalization 7 of 16
State: Massachusetts 3 of 3
Country: United States 34 of 98
Year: 2008 1 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-11-01 Blake & Pendleton

Macon, Georgia, United States

Blake & Pendleton is a value-added distributor of air compressors, compressed air automation systems, pumping equipment, and flow control products in the Southeastern United States. Blake & Pendleton was founded in 1971 and is based in Macon, Georgia.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2008-05-01 eServices

Glen Allen, Virginia, United States

eServices is an energy management company servicing the natural gas needs of marketers, utilities, small and mid-sized commercial/industrial firms, and producers in the Southeast and mid-Atlantic regions of the United States. eServices was founded in 2008 and is based in Glen Allen, Virginia.

Buy -
Buyer

TSG Consumer Partners

Stamford, Connecticut, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1987
PE ASSETS 14.0B USD
Size Mega
Type Sector Focused
DESCRIPTION

TSG Consumer Partners (formerly known as The Shansby Group) is a specialist private equity firm focused on acquiring and building mid-sized, branded consumer companies. TSG invests in private and publicly traded companies, and will consider both majority and minority equity positions. Specific sectors of interest include apparel, beauty, e-commerce, personal care, retail, food/beverages, restaurants, health/wellness, household products, and pet care. TSG looks for companies with sales between $20 million and $1.5 billion and can invest commit up to $500 million per transaction. TSG Consumer Partners was formed in 1987 and is based in San Francisco, California.


Deal Context for Buyer #
Overall 18 of 62
Sector: Beverages 2 of 6
Type: Recapitalization 2 of 3
State: Massachusetts 1 of 1
Country: United States 18 of 55
Year: 2008 3 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2008-02-01 Pevonia International

Daytona Beach, Florida, United States

Pevonia International, Inc. is a natural skincare manufacturer and marketer selling to professional salons, spas and specialty channels.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2008-09-08 Meguiar s

Irvine, California, United States

Meguiar's, Inc. is a manufacturer and marketer of premium car care products.

Sell -