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  6. Versa Capital Management and Crystal Capital Exits Bob s Stores

Investment Summary

Versa Capital Management and Crystal Capital Exits Bob s Stores

On April 19, 2016, invested in retailer Bob s Stores from Versa Capital Management and Crystal Capital

Investment Highlights
  • This is transaction in the Retail sector.
  • This is transaction in the United States.
  • This is transaction in Connecticut.
Investment Fate
  • Bob s Stores was sold to a strategic buyer in 2017.
  • Bob s Stores was divested to a consortium of strategic buyers in 2022.

Investment Summary
Date 2016-04-19
Target Bob s Stores
Sector Retail
Sellers(s) Versa Capital Management
Crystal Capital
Deal Type Bankruptcy

Target

Bob s Stores

Meriden, Connecticut, United States
Bob's Stores LLC is an apparel and footwear retailer that offers the entire family a wide range of brands at affordable prices in casual fashion, denim, activewear, team wear, and footwear. It provides families in the Northeastern U.S. with a broad selection of such leading national brands as Timberland, Carhartt, Champion, Under Armour, adidas, Skechers, Levi’s, and others. Bob's Stores was formed in 1954 and is based in Meriden, Connecticut.

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Seller(S) 2

SELLER

Versa Capital Management

Philadelphia, Pennsylvania, United States

Investor Investor Investor Investor Investor

Category Distressed Investor
Founded 2004
PE ASSETS 1.4B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Versa Capital Management is a private equity firm focused on investing in complex or distressed situations. Versa will consider businesses headquartered in North America and valued between $100 million and $1 billion. Prospective investment situations include buyouts, divestitures, recapitalizations, restructurings/turnarounds, take privates, rescue financings, and liquidations. Versa Capital Management is headquartered in Philadelphia, Pennsylvania.

DEAL STATS #
Overall 15 of 25
Sector: Retail M&A 4 of 6
Type: Bankruptcy M&A Deals 5 of 8
State: Connecticut M&A 4 of 4
Country: United States M&A 15 of 24
Year: 2016 M&A 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-04-19 Eastern Mountain Sports

Meriden, Connecticut, United States

Eastern Mountain Sports helps people of all ages and abilities have more fun outside as a trusted source of top-quality outdoor gear, apparel, and advice. EMS offers consumers a compelling product portfolio consisting of EMS branded products and leading outdoor and active brands such as The North Face, Oboz, Thule, and Columbia. The retailer operates more than 20 locations in seven U.S. northeastern states and has a robust e-commerce platform. Eastern Mountain Sports was formed in 1967 and is based in Meriden, Connecticut.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-09-13 Silver Airways

Hollywood, Florida, United States

Silver Airways is a regional air carrier that operates over 125 scheduled flights per day under a principal code share and alliance agreement with Continental Airlines, United Airlines and Copa Airlines of Panama. Silver Airways is based in Hollywood, Florida.

Buy -
SELLER

Crystal Capital

Boston, Massachusetts, United States
Category Private Equity Firm
Founded 2006
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Crystal Capital is an affiliate of Crystal Financial Corporation, Crystal Capital is a private investment firm that provides debt and equity capital to middle-market companies. Crystal Capital does not have an industry preference in evaluating opportunities, but looks to provide a minimum of $1 million in equity (co-investment) or $10 million in junior capital per transaction. Target companies typically generate sales of at least $150 million and EBITDA of $15 million. Crystal Capital was formed in 2006 and is based in Boston, Massachusetts with additional offices in Los Angeles, California; Stamford, Connecticut; and Chicago, Illinois.

DEAL STATS #
Overall 13 of 20
Sector: Retail M&A 4 of 4
Type: Bankruptcy M&A Deals 6 of 7
State: Connecticut M&A 1 of 1
Country: United States M&A 13 of 20
Year: 2016 M&A 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-11-01 Freedom Communications

Santa Ana, California, United States

Freedom Communications, Inc. is a diversified media company that primarily publishes community newspapers and metropolitan area newspapers and operates broadcast television stations. Freedom owns 28 daily newspapers and 38 weekly newspapers in 11 states with a combined circulation of 1.2 million and 8 broadcast television stations in 7 states. It is the 13th largest newspaper publisher by circulation and one of the largest independent television broadcasters in the U.S.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-10-06 C3

Plantation, Florida, United States

C3 is a contact center provider for corporations who view outsourcing objectives as a strong component of their growth and brand development strategies. C3 builds solid partnerships with its clients based on mutually determined business objectives. C3 was founded in 2004 and is based in Plantation, Florida.

Sell -
Mergr

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