M&A Deal Summary

Wayzata Investment Partners Acquires Propex Operating

On March 25, 2009, private equity firm Wayzata Investment Partners acquired furniture company Propex Operating

Acquisition Highlights
  • This is Wayzata Investment Partners’ 1st transaction in the Furniture sector.
  • This is Wayzata Investment Partners’ 9th transaction in the United States.
  • This is Wayzata Investment Partners’ 1st transaction in Tennessee.
Investment Fate
  • Propex Operating was sold to a strategic buyer in 2021.

M&A Deal Summary

Date 2009-03-25
Target Propex Operating
Sector Furniture
Buyer(s) Wayzata Investment Partners
Deal Type Special Situations/Distressed

Target

Propex Operating

Chattanooga, Tennessee, United States
Propex Operating is a manufacturer of the primary carpet backing and secondary carpet backing. The Company is also a producer of woven and non-woven polypropylene fabrics for use in furniture, bedding, automotive, geotextile, and other industrial fabrics applications. Propex Operating was founded in 1884 and is based in Chattanooga, Tennessee.

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Buyer(S) 1

Buyer

Wayzata Investment Partners

Plymouth, Minnesota, United States

Investor


Category Private Equity Firm
Founded 2004
Size Small
Type Sector Agnostic
DESCRIPTION

Wayzata Investment Partners is a private equity group focused on acquiring controlling interests in companies through distressed debt investing. The Firm targets companies valued between $100 million and $1 billion. Wayzata was formed in 2004 and is based in Wayzata, Minnesota.


DEAL STATS #
Overall 10 of 26
Sector: Furniture M&A 1 of 1
Type: Special Situations/Distressed M&A Deals 9 of 22
State: Tennessee M&A 1 of 3
Country: United States M&A 9 of 24
Year: 2009 M&A 4 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2009-02-17 Key Plastics

Livonia, Michigan, United States

Key Plastics LLC is a manufacturer of automotive interior, exterior, and under-the-hood plastic components. Key Plastics was founded in 1986 and is based in Livonia, Michigan.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2009-06-01 Caraustar Industries

Austell, Georgia, United States

Caraustar Industries, Inc. is an integrated manufacturer of recycled paperboard and converted paperboard products. Caraustar Industries was founded in 1938 and is based in Austell, Georgia.

Buy -