M&A Deal Summary

Webster Equity Partners, Yukon Partners and TZP Group Acquire Re-Bath

On December 30, 2009, private equity firm Webster Equity Partners, mezzanine finance firm Yukon Partners and private equity firm TZP Group acquired franchising company Re-Bath

Acquisition Highlights
  • This is Webster Equity Partners’ 3rd, Yukon Partners’ 1st and TZP Group’s 1st transaction in the Franchising sector.
  • This is Webster Equity Partners’ 10th, Yukon Partners’ 3rd and TZP Group’s 3rd transaction in the United States.
  • This is Webster Equity Partners’ 1st, Yukon Partners’ 1st and TZP Group’s 1st transaction in Arizona.

M&A Deal Summary

Date 2009-12-30
Target Re-Bath
Sector Franchising
Buyer(s) Webster Equity Partners
Yukon Partners
TZP Group
Deal Type Buyout (LBO, MBO, MBI)

Target

Re-Bath

Phoenix, Arizona, United States
Re-Bath is a complete bathroom remodeling franchise located in more than 150 cities across the country. The Company offers complete bathroom remodels, tub and shower updates, plus aging and accessibility solutions. From simple bathtub replacements to full bathroom redesigns, Re-Bath makes bathroom remodeling effortless, convenient and affordable, all with professional, friendly installation by factory-trained installers. Re-Bath was founded in 1978 and is based in Phoenix, Arizona.

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Buyer(S) 3

Buyer

Webster Equity Partners

Waltham, Massachusetts, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2003
PE ASSETS 6.8B USD
Size Mega
Type Sector Focused
DESCRIPTION

Webster Capital is a private equity firm that targets growth capital and buyout investments in profitable, middle-market healthcare and consumer companies. Prospective business characteristics of interest include differentiated products or services, distinctive brands, and loyal/repeat customers. Webster looks for companies generating sales of $20 to $200 million, EBITDA of $5 to $20 million, and valued up to $200 million. Webster Capital was formed in 2003 and is based in Waltham, Massachusetts.


DEAL STATS #
Overall 10 of 48
Sector (Franchising) 3 of 3
Type (Buyout (LBO, MBO, MBI)) 7 of 26
State (Arizona) 1 of 2
Country (United States) 10 of 46
Year (2009) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2009-09-20 Comfort Keepers

Dayton, Ohio, United States

Comfort Keepers is a franchiser of non-medical in-home care and it provides a quality in-home care to seniors and other clients who need help with the activities of daily living. Comfort Keepers was founded in 1998 and is based in Dayton, Ohio.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2010-09-13 Epic Health Services

Dallas, Texas, United States

Epic Health Services, Inc. is a provider of pediatric services are designed to provide a high quality, lower cost alternative to prolonged hospitalization for medically fragile and chronically ill children.

Buy -
Buyer

Yukon Partners

Minneapolis, Minnesota, United States

Investor Investor Investor Investor Investor


Category Mezzanine Finance Firm
Founded 2008
PE ASSETS 640M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Yukon Partners is a mezzanine finance firm that works with private equity sponsors to fund a variety of investment situations. Yukon looks to invest $10 to $40 million to support buyouts, recapitalizations, take privates, and refinancings. Sectors of interest include automotive, building products, business services, consumer products, food/beverages, healthcare products/services, industrial manufacturing, niche manufacturing, and transportation/logistics. Prospective companies generally have revenues of $30 to $500 million and are profitable with EBITDA of $5 to $50 million. Yukon Partners was formed in 2008 and is based in Minneapolis, Minnesota.


DEAL STATS #
Overall 3 of 54
Sector (Franchising) 1 of 2
Type (Buyout (LBO, MBO, MBI)) 1 of 12
State (Arizona) 1 of 2
Country (United States) 3 of 53
Year (2009) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2008-03-17 Tronair

Toledo, Ohio, United States

Tronair designs, manufactures, and sells of ground support equipment for business, commercial and military aircraft. Tronair's broad and innovative product line of GSE, comprised of over 1,500 products, is used by over 350 unique aircraft platforms. Tronair is the market leader in its core products and market segments, serving leading aircraft OEMs (e.g., Bombardier, Gulfstream, Embraer, Boeing and Airbus), fixed based operators, maintenance and repair providers, corporate hangars, commercial airlines, defense contractors and military airbases around the world. Tronair was founded in 1971 and is based in Toledo, Ohio.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2010-06-09 Satellite Logistics Group

Houston, Texas, United States

Satellite Logistics Group, Inc. is a provider of reverse beverage logistics and supply chain management solutions. The company provides integrated solutions to manage all facets of transportation, distribution and warehousing as well as cost-saving reverse logistics solutions or timely material recovery processes.

Buy -
Buyer

TZP Group

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2007
PE ASSETS 1.6B USD
Size Large
Type Sector Agnostic
DESCRIPTION

TZP Group is a private equity firm focused on the business and consumer services sectors. Specific areas of interest include franchising, outsourced business, and IT services, marketing and media services, travel content and distribution, real estate services, specialty finance, and consumer health services. TZP looks to invest $10 to $130 million in for minority or minority positions in profitable companies with at least $10 million in revenue. TZP Group was formed in 2007 and is based in New York City.


DEAL STATS #
Overall 3 of 45
Sector (Franchising) 1 of 3
Type (Buyout (LBO, MBO, MBI)) 1 of 7
State (Arizona) 1 of 1
Country (United States) 3 of 42
Year (2009) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2009-10-15 DLT Solutions

Herndon, Virginia, United States

DLT Solutions, Inc. is a provider of information technology solutions for commercial, education, federal, healthcare, state and local, and utilities markets. DLT provides access to a robust network of partners, a broad portfolio of over 50+ in-house contract vehicles, and dedicated channel and enablement services. DLT Solutions, Inc. was founded in 1991 and is based in Herndon, Virginia.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2010-04-01 SAXX Underwear

Vancouver, British Columbia, Canada

SAXX Underwear designs and sells comfortable, premium, high-performance men’s apparel tailored to support an active lifestyle. SAXX’s products are made from the highest quality functional fabrics to address the specific needs of each customer, ranging from everyday lifestyle pieces to high-performance gear. SAXX Underwear was founded in 2006 and is based in Vancouver, British Columbia.

Buy -