M&A Deal Summary

Vestar Capital Partners, Harvest Partners Structured Capital and HarbourVest Partners Acquire Roland Foods

On August 26, 2013, private equity firms Vestar Capital Partners, Harvest Partners Structured Capital and HarbourVest Partners acquired food company Roland Foods

Acquisition Highlights
  • This is Vestar Capital Partners’ 5th, Harvest Partners Structured Capital’s 1st and HarbourVest Partners’ 2nd transaction in the Food sector.
  • This is Vestar Capital Partners’ 51st, Harvest Partners Structured Capital’s 4th and HarbourVest Partners’ 72nd transaction in the United States.
  • This is Vestar Capital Partners’ 7th, Harvest Partners Structured Capital’s 1st and HarbourVest Partners’ 6th transaction in New York.

M&A Deal Summary

Date 2013-08-26
Target Roland Foods
Sector Food
Buyer(s) Vestar Capital Partners
Harvest Partners Structured Capital
HarbourVest Partners
Deal Type Buyout (LBO, MBO, MBI)
Advisor(s) Evercore Group (Financial)
McDermott Will & Emery (Legal)

Target

Roland Foods

New York, New York, United States
Roland Foods is an importer and supplier of specialty foods with a focus on shelf-stable products. Roland Foods was founded in 1934 and is based in New York City.

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Buyer(S) 3

Buyer

Vestar Capital Partners

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1988
PE ASSETS 11.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Vestar Capital Partners is a private equity firm that targets management buyouts and growth capital investments across North America and Europe in the consumer, business services, and healthcare sectors. The Firm looks to invest $50 to $150 million in transactions valued up to $1 billion. Specific areas of interest include food, apparel, household goods, retail, consumer services, industrial services, information services, manufacturing, distribution, transportation, financial services, media/communications, digital health media, and medical technology. Vestar Capital Partners was formed in 1988 and is based in New York City.


DEAL STATS #
Overall 66 of 86
Sector (Food) 5 of 11
Type (Buyout (LBO, MBO, MBI)) 38 of 41
State (New York) 7 of 7
Country (United States) 51 of 70
Year (2013) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-01-01 St. John Knits

Irvine, California, United States

St. John Knits designs, manufactures and markets women's clothing and accessories. The Company's products are sold under the St. John, Griffith & Gray and Marie Gray trade names. St. John's retail division operates 17 boutiques and nine outlet stores.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-03-21 Wilton Re Holdings

Norwalk, Connecticut, United States

Wilton Re Holdings Limited provides traditional life reinsurance and insurance Run Off Solutions through its wholly owned operating subsidiaries, Wilton Reassurance Company, Wilton Reinsurance Bermuda Limited, and Wilton Reassurance Life Company of New York.

Sell $1.8B
DESCRIPTION

Harvest Partners Structured Capital is a private investment group focused on minority position, non-control investments. The Group looks for businesses with $100 million to $1 billion in revenues where Harvest can commit $50 to $250 million. Sectors of interest include business services, consumer services, healthcare, industrial services, manufacturing, and distribution. Harvest Partners Structured Capital is a unit of PE Firm Harvest Partners. The Firm is based in New York City.


DEAL STATS #
Overall 5 of 31
Sector (Food) 1 of 4
Type (Buyout (LBO, MBO, MBI)) 3 of 5
State (New York) 1 of 3
Country (United States) 4 of 30
Year (2013) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-04-15 AxelaCare Health Solutions

Lenexa, Kansas, United States

AxelaCare Health Solutions LLC is a full-service home infusion therapy provider. Therapies provided range from immune globulin (IG) therapy to antibiotics and nutrition therapy for patients across the United States.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-05-22 Athletico Physical Therapy

Oak Brook, Illinois, United States

Athletico Physical Therapy is a provider of an orthopedic rehabilitation services to communities, employers and athletes in nearly 400 locations throughout ten states with more than 4500 employees. Athletico Physical Therapy is based in Oak Brook, Illinois.

Buy -
Buyer

HarbourVest Partners

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1978
PE ASSETS 86.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

HarbourVest Partners, LLC is an investment firm that makes investments in new private equity partnerships, acquires secondary interests, and makes direct investments in operating companies. HarbourVest's largest investment area is investments in private equity funds, comprising of approximately 2/3 of HarbourVest's assets. HarbourVest's direct investment group looks for investments in growth oriented businesses at a variety of stages. The Group generally targets co-investments of $5 to $100 million, growth capital financings of $5 to $40 million, or mezzanine commitments of $5 to $20 million. Sectors of interest include software, hardware, data communications, telecommunications, and financial services. HarbourVest was formed in 1997 to assume the business of Hancock Venture Partners which was formed in 1982. HarbourVest Partners is based in Boston, Massachusetts, with additional offices in London, Tokyo, and Hong Kong.


DEAL STATS #
Overall 118 of 223
Sector (Food) 2 of 5
Type (Buyout (LBO, MBO, MBI)) 26 of 41
State (New York) 6 of 10
Country (United States) 72 of 134
Year (2013) 9 of 11
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-08-21 Avectra

McLean, Virginia, United States

Avectra is the provider of enterprise and on-demand membership management software solutions.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-09-11 Bulldog Hardware

Waukesha, Wisconsin, United States

Bulldog Hardware develops fastening and hanging hardware. The product offering includes picture hanging accessories, anchors and specialty fasteners, basic home-improvement hardware such as nuts, bolts and screws and organizational tools for the home. Bulldog Hardware is based in Waukesha, Wisconsin.

Buy $214M