M&A Deal Summary

Weinberg Capital Group, Northstar Capital and Advantage Capital Partners Acquire Drake Waterfowl Systems

On September 20, 2021, family office Weinberg Capital Group, mezzanine finance firm Northstar Capital and growth capital firm Advantage Capital Partners acquired consumer products company Drake Waterfowl Systems

Acquisition Highlights
  • This is Weinberg Capital Group’s 2nd, Northstar Capital’s 11th and Advantage Capital Partners’ 10th transaction in the Consumer Products sector.
  • This is Weinberg Capital Group’s 12th, Northstar Capital’s 98th and Advantage Capital Partners’ 260th transaction in the United States.
  • This is Weinberg Capital Group’s 1st, Northstar Capital’s 1st and Advantage Capital Partners’ 9th transaction in Mississippi.

M&A Deal Summary

Date 2021-09-20
Target Drake Waterfowl Systems
Sector Consumer Products
Buyer(s) Weinberg Capital Group
Northstar Capital
Advantage Capital Partners
Deal Type Buyout (LBO, MBO, MBI)

Target

Drake Waterfowl Systems

Olive Branch, Mississippi, United States
Drake Waterfowl Systems is a provider of hunting gear, hunting boots, hunting waders, and hunting clothes made especially for duck hunters by duck hunters. Drake Waterfowl Systems was founded in 2002 and is based in Olive Branch, Mississippi.

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Buyer(S) 3

Buyer

Weinberg Capital Group

Cleveland, Ohio, United States

Investor Investor Investor


Category Family Office
Founded 2003
Size Small
Type Sector Agnostic
DESCRIPTION

Weinberg Capital Group is a Midwestern US-based investment firm focused on real estate and private equity investments. Weinberg's private equity group targets control investments in lower middle-market, North American, profitable companies with $10 to $100 million of revenue. Sectors of interest include manufacturing, business services, medical and healthcare, aviation services, consumer products, and value-added distribution. Weinberg's real estate group targets opportunities in retail, multi-family, office, and industrial properties. Weinberg Capital Group was formed in 2003 and is based in Cleveland, Ohio.


DEAL STATS #
Overall 12 of 14
Sector (Consumer Products) 2 of 2
Type (Buyout (LBO, MBO, MBI)) 8 of 9
State (Mississippi) 1 of 1
Country (United States) 12 of 14
Year (2021) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-08-26 Convenience Valet

Glendale Heights, Illinois, United States

Convenience Valet is a value-added distributor of blister pack (windowed) branded convenience/travel size health and beauty care products, over-the-counter drugs, personal care products and sundries sold in small-portion packages. Convenience Valet was established in 1946 and is based in Glendale Heights, Illinois.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-11-10 HoodMart

Elyria, Ohio, United States

HoodMart specializes in the design, manufacture and sale of ventilation systems (exhaust hoods) for the large and growing commercial cooking industry. HoodMart is based in Elyria, Ohio.

Sell -
Buyer

Northstar Capital

Minneapolis, Minnesota, United States

Investor Investor Investor Investor Investor


Category Mezzanine Finance Firm
Founded 1993
PE ASSETS 1.7B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Northstar Capital is a mezzanine finance firm that provides junior capital to middle-market companies operating in the value-added distribution, light manufacturing, business services, financial services, education, and specialty healthcare sectors. Northstar's typical investment size is $5 to $30 million in businesses generating sales of $20 to $300 million with an EBITDA of at least $3 million. Prospective companies have stable cash flows and sustainable margins. Investments typically have maturities of five to eight years. Northstar does not invest in start-ups, real estate development, natural resource exploration, or high technology companies. Northstar Capital was formed in 1993 and is based in Minneapolis, Minnesota.


DEAL STATS #
Overall 103 of 109
Sector (Consumer Products) 11 of 11
Type (Buyout (LBO, MBO, MBI)) 41 of 43
State (Mississippi) 1 of 1
Country (United States) 98 of 104
Year (2021) 5 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-08-16 Consolidated Equipment Group

Alexandria, Minnesota, United States

Consolidated Equipment Group is a designer, manufacturer, and marketer of attachments for skid-steers, mini skid steers, compact tractors, and several other light-construction power equipment. Consolidated Equipment Group was founded in 1948 and is based in Alexandria, Minnessota.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-11-09 Channel Company

Westborough, Massachusetts, United States

Channel Company is an IT channel-focused B2B marketing platform enabling technology companies to target and reach their channel partners. Channel Company was founded in 1982 and is based in Westborough, Massachusetts.

Sell -
Buyer

Advantage Capital Partners

New Orleans, Louisiana, United States

Investor Investor Investor Investor Investor


Category Growth Capital Firm
Founded 1992
PE ASSETS 2.6B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Advantage Capital Partners is a private equity firm focused on providing growth capital to a variety of companies. The Firm's geographic coverage includes Alabama, Colorado, Florida, Hawaii, Louisiana, Mississippi, Missouri, New York, Texas, Wisconsin and Washington DC. Advantage looks to initially commit $0.5 to $2 million per investment and can provide mezzanine debt in addition to equity capital. Areas of interest include communications, information technology, life science, and energy. Advantage Capital was formed in 1992 and is headquartered in New Orleans, Louisiana.


DEAL STATS #
Overall 262 of 272
Sector (Consumer Products) 10 of 10
Type (Buyout (LBO, MBO, MBI)) 42 of 42
State (Mississippi) 9 of 9
Country (United States) 260 of 270
Year (2021) 13 of 15
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-08-11 FlyGuys

Lafayette, Louisiana, United States

FlyGuys is a nationwide drone services company that delivers aerial data collection solutions for many commercial industries and public sector entities including Energy, Agriculture, Construction, Engineering, Transmission & Distribution, Transportation, and more. FlyGuys was founded in 2014 and is based in Lafayette, Louisiana.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-12-15 Nectar Bath Treats

Las Vegas, Nevada, United States

Nectar Bath Treats is an online and retail destination for joyful self-care and unique bath and body confections. Nectar Bath Treats was founded in 2015 and is based in Las Vegas, Nevada.

Buy -