M&A Deal Summary

Two Sigma Impact and Avance Acquire Wholesale Supplies Plus

On April 29, 2021, private equity firms Two Sigma Impact and Avance acquired distribution company Wholesale Supplies Plus from Incline Equity Partners

Acquisition Highlights
  • This is Two Sigma Impact’s 1st and Avance’s 1st transaction in the Distribution sector.
  • This is Two Sigma Impact’s 2nd and Avance’s 1st transaction in the United States.
  • This is Two Sigma Impact’s 1st and Avance’s 1st transaction in Ohio.

M&A Deal Summary
Date 2021-04-29
Target Wholesale Supplies Plus
Sector Distribution
Buyer(s) Two Sigma Impact
Avance
Sellers(s) Incline Equity Partners
Deal Type Secondary Buyout

Target

Wholesale Supplies Plus

Independence, Ohio, United States
Wholesale Supplies Plus is a provider of high-quality raw materials, supplies, and packaging for soap, skincare, and candle artisans. The company’s broad product assortment and complementary support enable an expanding artisan community to meet growing consumer demand for authentic, local, and clean label personal products. Wholesale Supplies Plus was founded in 1999 and is based in Independence, Ohio.

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Buyer(S) 2

Buyer

Two Sigma Impact

Investor Investor

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

Two Sigma is a private investment group focused on opportunities in education & training, healthcare, consumer services, and business services. The Firm prefers growth businesses and will consider opportunities throughout the US. Two Sigma is headquartered in New York City.

DEAL STATS #
Overall 2 of 7
Sector (Distribution) 1 of 1
Type (Secondary Buyout) 2 of 5
State (Ohio) 1 of 1
Country (United States) 2 of 7
Year (2021) 1 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-05-01 Penn Foster

Scranton, Pennsylvania, United States

Penn Foster is a leading provider of high school diploma, workforce education, and training solutions. The business focuses on adult learners who seek forms of higher education to improve their career skills and employment status. Penn Foster was founded in 1890 and is based in Scranton, Pennsylvania.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-07-12 Circle Of Care

San Antonio, Texas, United States

Circle Of Care is a provider of a wide range of pediatric services across seven markets in Texas, including occupational, physical, and speech therapy. Circle Of Care was founded in 2007 and is based in San Antonio, Texas.

Buy -
Buyer

Avance

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2020
Size Small
Type Sector Agnostic
DESCRIPTION

Avance Investment Management is a private equity firm focused on acquiring US-based middle-market companies in the services and consumer sectors. Target companies are profitable with $10 to $75 million of EBITDA and up to $250 million in revenue. Prospective situations of interest include founder owned companies looking to transition or management teams seeking a growth partner. Avance Management is headquartered in New York City.

DEAL STATS #
Overall 1 of 7
Sector (Distribution) 1 of 1
Type (Secondary Buyout) 1 of 1
State (Ohio) 1 of 1
Country (United States) 1 of 6
Year (2021) 1 of 2
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-07-15 UniVista Insurance

Miami, Florida, United States

UniVista Insurance is a franchisor of insurance-related products and services. UniVista delivers industry leading insurance products and services in dynamic and innovative ways, leveraging technology, data and analytics to foster customer loyalty, employee professional growth and community recognition. UniVista Insurance was founded in 2006 and is based in Miami, Florida.

Buy -

Seller(S) 1

SELLER

Incline Equity Partners

Pittsburgh, Pennsylvania, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1982
PE ASSETS 5.8B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Incline Equity Partners is a private equity firm focused on lower middle-market growth companies. The Firm targets companies located in the US and Canada with enterprise values ranging from $25 to $750 million. Prospective transaction types include buyouts, minority recapitalizations, and corporate divestitures. Incline Equity Partners was formerly known as PNC Equity Partners. The Firm is based in Pittsburgh.

DEAL STATS #
Overall 34 of 40
Sector (Distribution) 3 of 5
Type (Secondary Buyout) 19 of 24
State (Ohio) 2 of 3
Country (United States) 33 of 39
Year (2021) 5 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-04-20 AFC Industries

College Point, New York, United States

AFC Industries is a provider of supply chain management services and vendor-managed inventory programs to original equipment manufacturers. The company specializes in fasteners and other essential assembly components. It also provides a wide array of value-added services, including kitting, packaging, assembly, and other customization specific to their customers’ needs. AFC Industries was formed in 1987 and is based in College Point, New York.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-05-11 Mad Rose

Maspeth, New York, United States

Mad Rose is an importer and distributor of fine wines and specialty foods from France, Italy, Switzerland, and Spain. Mad Rose provides access to a diverse book of over 140 wine producers to off-premise retailers, on-premise retailers (“white tablecloth” restaurants), and third-party distributors across the United States. Mad Rose is headquartered in Maspeth, New York.

Buy -
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