M&A Deal Summary

WestView Capital Partners Acquires Bell and Howell

On December 3, 2018, private equity firm WestView Capital Partners acquired business services company Bell and Howell from Versa Capital Management and Crystal Capital

Acquisition Highlights
  • This is WestView Capital Partners’ 8th transaction in the Business Services sector.
  • This is WestView Capital Partners’ 40th transaction in the United States.
  • This is WestView Capital Partners’ 1st transaction in North Carolina.

M&A Deal Summary

Date 2018-12-03
Target Bell and Howell
Sector Business Services
Buyer(s) WestView Capital Partners
Sellers(s) Versa Capital Management
Crystal Capital
Deal Type Recapitalization
Advisor(s) Capstone Partners (Financial)

Target

Bell and Howell

Durham, North Carolina, United States
Bell and Howell is a provider of outsourced maintenance services and solutions for highly complex automation equipment across a variety of end markets, including retail, e-commerce, digital print, logistics, robotics, and production mail. Utilizing over 800 highly skilled service engineers, the Company offers customized service plans, innovative technologies, and a robust support infrastructure that enable the technology and automation initiatives of enterprises and original equipment manufacturers across industries. Bell and Howell was founded in 1907 and is based in Durham, North Carolina.

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Buyer(S) 1

Buyer

WestView Capital Partners

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2004
PE ASSETS 2.7B USD
Size Large
Type Sector Agnostic
DESCRIPTION

WestView Capital Partners is a private equity firm focused on investing in lower middle-market companies. WestView looks to commit between $20 and $100 million in a variety of recapitalization, growth financing, buyout and consolidation transactions. Prospective companies generally exhibit consistent growth and financial performance as well as sustainable competitive advantages and market position. Sectors of interest include business services, industrial and manufacturing, distribution and logistics, consumer products and retail, healthcare services, environmental services, and media/publishing. The Firm's geographic preference is North America. WestView Capital Partners was formed in 2004 and is based in Boston, Massachusetts.


DEAL STATS #
Overall 40 of 56
Sector (Business Services) 8 of 12
Type (Recapitalization) 10 of 15
State (North Carolina) 1 of 2
Country (United States) 40 of 56
Year (2018) 5 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-10-10 Thorne Research

Sandpoint, Idaho, United States

Thorne Research, Inc. is a developer and manufacturer of high-quality, premium supplements sold primarily through medical professionals and also directly to consumers. Thorne Research is based in Sandpoint, Idaho.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-05-01 Health Monitor

Montvale, New Jersey, United States

Health Monitor is a direct-to-patient (DTP) company focused on providing high-quality patient education through digital, print, and mobile platforms to tens of millions of condition sufferers through 200,000+ medical offices and more than 400,000 healthcare professionals over its 35-year history. Health Monitor was formed in 1983 and is based in Montvale, New Jersey.

Buy -

Seller(S) 2

SELLER

Versa Capital Management

Philadelphia, Pennsylvania, United States

Investor Investor Investor Investor Investor


Category Distressed Investor
Founded 2004
PE ASSETS 1.4B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Versa Capital Management is a private equity firm focused on investing in complex or distressed situations. Versa will consider businesses headquartered in North America and valued between $100 million and $1 billion. Prospective investment situations include buyouts, divestitures, recapitalizations, restructurings/turnarounds, take privates, rescue financings, and liquidations. Versa Capital Management is headquartered in Philadelphia, Pennsylvania.


DEAL STATS #
Overall 18 of 25
Sector (Business Services) 1 of 1
Type (Recapitalization) 2 of 2
State (North Carolina) 1 of 2
Country (United States) 18 of 24
Year (2018) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-10-11 BCC Software

Rochester, New York, United States

BCC Software LLC is a provider of software and data solutions designed to enhance direct mail processing and facilitate efficient, cost-effective multi-channel marketing. The company provides USPS®-certified mail preparation software with integrated functionality to correct address data, perform matching and consolidation, and to sequence mailing lists for postal discounts, through on-premise, cloud-based and API solutions. BCC Software was founded in 1978 and is based in Rochester, New York.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-05-28 Alex Evenings

New York, New York, United States

Alex Evenings designs, sources and distributes branded ladies eveningwear dresses and separates to the moderate to upper-moderate segments of the women’s apparel industry. Alex Evenings was founded in 1989 and is based in New York, New York.

Buy -
SELLER

Crystal Capital

Boston, Massachusetts, United States

Category Private Equity Firm
Founded 2006
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Crystal Capital is an affiliate of Crystal Financial Corporation, Crystal Capital is a private investment firm that provides debt and equity capital to middle-market companies. Crystal Capital does not have an industry preference in evaluating opportunities, but looks to provide a minimum of $1 million in equity (co-investment) or $10 million in junior capital per transaction. Target companies typically generate sales of at least $150 million and EBITDA of $15 million. Crystal Capital was formed in 2006 and is based in Boston, Massachusetts with additional offices in Los Angeles, California; Stamford, Connecticut; and Chicago, Illinois.


DEAL STATS #
Overall 16 of 20
Sector (Business Services) 2 of 2
Type (Recapitalization) 3 of 3
State (North Carolina) 1 of 2
Country (United States) 16 of 20
Year (2018) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-01-03 LANDesk Software

South Jordan, Utah, United States

LANDesk Software, Inc. is a provider of desktop and security management software solutions. LANDesk software solutions maximize user productivity while reducing the associated IT complexities, risks, and costs to the business. Its products focus on systems management, security management, and asset lifecycle management for IT devices, servers, and networks.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-12-05 Dakine

Hood River, Oregon, United States

Dakine is an outdoor sports and lifestyle brand offering backpacks, luggage, gloves and other technical accessories used by enthusiasts across multiple action sports segments such as ski/snowboarding, surfing, biking, and skating.

Sell -