Add-on Acquisition • Packaging

Vidya Brands Acquires Seaboard Box

On March 14, 2022, Vidya Brands acquired packaging company Seaboard Box from Charter Oak Equity and Peninsula Capital Partners

Acquisition Context
  • This is Vidya Brands’ 1st transaction in the Packaging sector.
  • This is Vidya Brands’ 1st transaction in the United States.
  • This is Vidya Brands’ 1st transaction in Massachusetts.

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M&A Deal Summary

Date March 14, 2022
Target Seaboard Box
Sector Packaging
Buyer(s) Vidya Brands
Sellers(s) Charter Oak Equity
Peninsula Capital Partners
Deal Type Add-on Acquisition

Target Company

Seaboard Box

Westminster, Massachusetts, United States
Seaboard Box is the premier provider of folding cartons in the northeastern United States serving customers desiring quality production and highly responsive customer service. Seaboard Box is based in Westminster, Massachusetts.
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Buyer Overview 1

Buyer

Vidya Brands

Lincolnshire, Illinois, United States

Category Company
Sector Packaging
DESCRIPTION

Vidya Brands is a family of companies focused on premium quality folding cartons, packaging, printing, and converting to middle-market firms desiring quality, creativity, and speed to market.


Deal Context for Buyer #
Overall 1 of 1
Sector: Packaging 1 of 1
Type: Add-on Acquisition 1 of 1
State: Massachusetts 1 of 1
Country: United States 1 of 1
Year: 2022 1 of 1

Seller Profiles 2

SELLER

Charter Oak Equity

Westport, Connecticut, United States

Investor Investor Investor Investor


Category Private Equity Firm
Founded 1992
PE ASSETS 500M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Charter Oak Equity is a private equity group focused on control investments in lower middle-market companies valued between $25 and $150 million. The Firm looks for businesses operating large markets with significant room for growth. Target sectors include niche manufacturing, packaging, medical products, specialty chemicals, consumer products, and financial services. Charter Oak generally targets family-owned companies or non-core divisions of larger companies. Charter Oak Private Equity was formed in 1992 and is based in Westport, Connecticut.


Deal Context for Seller #
Overall 27 of 27
Sector: Packaging 2 of 2
Type: Add-on Acquisition 9 of 9
State: Massachusetts 2 of 2
Country: United States 27 of 27
Year: 2022 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-02-28 CGA Holdings

Boca Raton, Florida, United States

CGA Holdings is a home health platform serving South Florida. Its operating subsidiaries include six nurse registries and three home health agencies with a combined 140 years of local ownership and exceptional patient care. CGA Holdings is based in Boca Raton, Florida.

Buy -
SELLER

Peninsula Capital Partners

Southfield, Michigan, United States

Investor Investor Investor Investor Investor


Category Mezzanine Finance Firm
Founded 1995
PE ASSETS 1.9B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Peninsula Capital Partners is an investment group focused on providing a range of financing solutions to middle-market companies. The Firm is willing to be a minority or control investor and invests across the capital structure. This includes subordinated debt, preferred or common stock. For mezzanine commitments, Peninsula looks to invest $5 to $40 million. For equity transactions, Peninsula looks to invest $2 to $20 million. Peninsula is a generalist investor. Target sectors include manufacturing, industrial service, distribution, consumer products, professional services, retail, applied technology, transportation, food processing and packaging. Peninsula Capital Partners was formed in 1995 and is based in Detroit, Michigan.


Deal Context for Seller #
Overall 44 of 49
Sector: Packaging 5 of 5
Type: Add-on Acquisition 22 of 23
State: Massachusetts 1 of 1
Country: United States 41 of 46
Year: 2022 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-01-24 Strolleria

Scottsdale, Arizona, United States

Strolleria is a multi-channel retailer of high-end baby gear. Strolleria sells high-end baby gear products such as strollers, car seats, high chairs, playards, and related accessories. Strolleria was founded in 2016 and is based in Scottsdale, Arizona.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-05-01 Skytech

Fort Wayne, Indiana, United States

Skytech designs and sells a complete suite (totaling over 700 SKUs) of electronic controls, gas valve systems and accessories for the hearth industry. The Company provides products to over 300 customers including both fireplace OEMs as well as distributors for the dealer market. Skytech is based in Fort Wayne, Indiana.

Buy -