Recapitalization • Consumer Products

Equis Capital Partners and Tuckerman Capital Acquire Orthofeet

On December 3, 2010, private equity firms Equis Capital Partners and Tuckerman Capital acquired consumer products company Orthofeet

Acquisition Context
  • This is Equis Capital Partners’ 2nd and Tuckerman Capital’s 2nd transaction in the Consumer Products sector.
  • This is Equis Capital Partners’ 4th and Tuckerman Capital’s 10th transaction in the United States.
  • This is Equis Capital Partners’ 1st and Tuckerman Capital’s 1st transaction in New Jersey.
Investment Fate
  • Orthofeet was sold to a consortium of financial buyers in 2018.

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M&A Deal Summary

Date December 3, 2010
Target Orthofeet
Sector Consumer Products
Buyer(s) Equis Capital Partners
Tuckerman Capital
Deal Type Recapitalization
Advisor(s) Aleutian Capital Group (Financial)

Target Company

Orthofeet

Norwood, New Jersey, United States
Orthofeet is a designer and manufacturer of orthopedic shoes and custom orthotics primarily serving the diabetic market. Orthofeet was formed in 1984 and is based in Norwood, New Jersey.
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Buyers Overview 2

Buyer

Equis Capital Partners

Hoboken, New Jersey, United States

Investor Investor


Category Private Equity Firm
Founded 2002
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Equis Capital Partners LLC is a private equity group focused on small to mid-sized company investments in the manufacturing, consumer products, and services sectors. Equis looks to partner with existing management when pursuing transactions. Target companies typically have revenues of $10 to $100 million and EBITDA of $3 to $10 million. The Firm will not invest in stage, high tech, or turnaround situations. Equis was formed in 2002 and is based in Hoboken, New Jersey.


Deal Context for Buyer #
Overall 4 of 5
Sector: Consumer Products 2 of 2
Type: Recapitalization 1 of 2
State: New Jersey 1 of 1
Country: United States 4 of 5
Year: 2010 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2008-10-06 Andrews International

Valencia, California, United States

Andrews International is a provider of private security and risk mitigation services to the entertainment, high-end retail, financial services, commercial property management, and education verticals.

Sell $161M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-05-29 Data Display Systems

Philadelphia, Pennsylvania, United States

Data Display Systems is a provider of electronic video, audio, and lighting solutions to the point-of-purchase (“POP”) displays and fixtures markets. Data Display Systems was founded in 1968 and is based in Philadelphia, Pennsylvania.

Buy -
Buyer

Tuckerman Capital

Hanover, New Hampshire, United States

Investor Investor Investor Investor


Category Private Equity Firm
Founded 2001
Size Small
Type Sector Focused
DESCRIPTION

Tuckerman Capital is a private investment firm that targets smaller manufacturing companies, with a special interest in businesses that manufacture highly-engineered, non-commodity products across a broad range of industries. Tuckerman will also consider investments in niche service and distribution businesses. Tuckerman relies on deal partners to help source potential transactions. Tuckerman Capital was founded in 2001 and is based in Hanover, New Hampshire.


Deal Context for Buyer #
Overall 10 of 21
Sector: Consumer Products 2 of 2
Type: Recapitalization 2 of 3
State: New Jersey 1 of 1
Country: United States 10 of 20
Year: 2010 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2008-12-01 Handi Quilter

North Salt Lake, Utah, United States

Handi Quilter develops and manufactures branded and OEM quilting machines, frames, tables, computerized quilting systems, and quilting accessories. The company's products are primarily used in the home by dedicated quilting enthusiasts as well as by quilters with home-based businesses. Handi Quilter was founded in 1998 and is based in North Salt Lake, Utah.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-05-03 Solidscape

Merrimack, New Hampshire, United States

Solidscape, Inc. manufactures rapid prototyping systems that produce small, resin parts. The Company's equipment is particularly effective in making high-precision parts that require dimensional accuracy and a high quality surface finish.

Sell $38M