M&A Deal Summary

WHSmith Acquires InMotion Entertainment Group

On October 30, 2018, WHSmith acquired retailer InMotion Entertainment Group from BRS, Palladin Consumer Retail Partners and Fifth Street Capital

Acquisition Highlights
  • This is WHSmith’s 1st transaction in the Retail sector.
  • This is WHSmith’s 1st transaction in the United States.
  • This is WHSmith’s 1st transaction in Florida.

M&A Deal Summary

Date 2018-10-30
Target InMotion Entertainment Group
Sector Retail
Buyer(s) WHSmith
Sellers(s) BRS
Palladin Consumer Retail Partners
Fifth Street Capital
Deal Type Add-on Acquisition

Target

InMotion Entertainment Group

Jacksonville, Florida, United States
InMotion Entertainment Group offers airport concessions premium retail brands including InMotion Entertainment, Soundbalance, and Headphone Hub. The stores feature premium electronics, including tablets, digital cameras, portable power, and noise-canceling headphones.

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Buyer(S) 1

Buyer

WHSmith

Swindon, United Kingdom

Category Company
Founded 1792
Sector Retail
Employees14,935
Revenue 1.8B GBP (2023)
DESCRIPTION

WH Smith is a retailer that operates in two segments, Travel and High Street. The Travel business operates 1K+ units, mainly in airports, railway stations, motorway service areas, hospitals and workplaces, primarily in the UK. Travel stores sell a more tailored range of products than High Street stores to cater for people on the move or in need of a convenience offer. The High Street business operates 600 stores with an extensive reach across the UK and a presence on nearly every significant UK high street. High Street sells a wide range of products, which are divided into the following categories: Stationery (including greetings cards), Books, and News and Impulse (including newspapers, magazines and confectionery), as well as a small range of Entertainment products in some stores. WHSmith was founded in 1792 and is based in Swindon, United Kingdom.


DEAL STATS #
Overall 2 of 3
Sector (Retail) 1 of 2
Type (Add-on Acquisition) 2 of 3
State (Florida) 1 of 1
Country (United States) 1 of 2
Year (2018) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-10-01 ModelZone

Lancing, United Kingdom

Modelzone offers a broad range of high-quality models including plastic kits, die cast collectibles, remote control vehicles, railways and slot racing. The company is a niche retailer in a highly fragmented sector, which caters for both the casual shopper and dedicated collector alike, Modelzone operates from 29 stores across the UK. Outlets include Bluewater, Lakeside, Metro Centre, The Trafford Centre and Meadowhall, as well as stores in major cities such as London, Liverpool, Manchester, Nottingham and Leeds.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-10-17 Marshall Retail Group

Las Vegas, Nevada, United States

Marshall Retail Group is a specialty retailer with a 60-year history of operating stores in high-foot-traffic marketplaces. MRG provides turnkey solutions to premier casino resort and airport operators by creating and managing a highly scalable portfolio of profitable stores and memorable brands, well-positioned to attract and accommodate hotel guests, visitors and local residents.

Buy -

Seller(S) 3

SELLER

BRS

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1995
PE ASSETS 1.2B USD
Size Large
Type Sector Agnostic
DESCRIPTION

BRS is a private equity investment firm that specializes in management buyouts and recapitalizations of middle-market companies with strong market positions and growth potential. Broad areas of interest include consumer products, consumer services, food/nutrition, restaurants, retail, and distribution. BRS looks to commit $10 to $25 million per transaction. BRS was formed in 1995 and is based in New York, New York.


DEAL STATS #
Overall 32 of 35
Sector (Retail) 3 of 4
Type (Add-on Acquisition) 6 of 7
State (Florida) 3 of 3
Country (United States) 31 of 33
Year (2018) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-08-03 New Archery Products

Forest Park, Illinois, United States

New Archery Products Corp. is a designer and manufacturer of fixed and mechanical broadheads, vanes and fletching and other archery related accessories. NAP’s array of products can be found at mass merchants, sporting goods retailers and dealers throughout the country. NAP differentiates itself through its proprietary manufacturing and patented designs, resulting in the highest-quality broadheads in the market. NAP was formed in 1971 and is based in Forest Park, Illinois.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-03-01 Organika Health Products

Richmond, British Columbia, Canada

Organika Health Products is a provider of natural solutions to help people live healthier. The company has introduced products in fast-growing categories such as collagen, bone broth, medicinal mushrooms, and other functional foods. Organika Health Products was formed in 1990 and is based in Richmond, British Columbia.

Buy -
DESCRIPTION

Palladin Consumer Retail Partners is a private equity firm focused on consumer and retail company investments across North America. The Firm looks to invest $10 to $50 million in companies with $50 to $500 million of revenue. Specific areas of interest include specialty stores, branded apparel, drug stores, discount chains, food retailers, wholesalers and manufacturers of consumer goods, consumer services, and e-commerce. Palladin Consumer Retail Partners was formed in 1998 and is based in Boston, Massachusetts.


DEAL STATS #
Overall 2 of 2
Sector (Retail) 2 of 2
Type (Add-on Acquisition) 1 of 1
State (Florida) 1 of 1
Country (United States) 2 of 2
Year (2018) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-11-16 J. Mclaughlin

Brooklyn, New York, United States

J. Mclaughlin is a designer, marketer and multi-channel retailer of classic American sportswear with modern relevance. J. Mclaughlin was founded in 1977 and is based in Brooklyn, New York.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-11-06 Splash Car Wash

Greenwich, Connecticut, United States

Splash Car Wash is an operator of car washes with 18 locations in New York and Connecticut. The Company offers Full Service, Hand Wash, Express, and Self-Service alternatives, as well as Oil and Lube services at premier locations. Driven by industry-leading customer service and environmentally-focused technology, Splash provides its customers with multiple options under various programs including monthly subscriptions and a la carte pricing. Splash Car Wash was formed in 1981 and is based in Greenwich, Connecticut.

Buy -
SELLER
DESCRIPTION

Fifth Street Capital is a public investment firm focused on providing mezzanine financing to support expansions, acquisitions, recapitalizations, and management buyouts of middle-market US based companies. Fifth Street looks to invest between $5 and $50 million per transaction. Sectors of interest include consumer products, healthcare services, manufacturing, medical device manufacturing, food services, business services, restaurants, speciality retail, logistics, and value added distribution. Fifth Street Capital is based in White Plains, New York.


DEAL STATS #
Overall 52 of 59
Sector (Retail) 1 of 1
Type (Add-on Acquisition) 24 of 27
State (Florida) 2 of 3
Country (United States) 51 of 58
Year (2018) 7 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-09-17 OnCourse Learning

Brookfield, Wisconsin, United States

OnCourse Learning is a provider of professional education to financial institutions providing banking and credit union governance, risk, and compliance (GRC) training. OnCourse Learning was founded in 2007 and is headquartered in Brookfield, Wisconsin.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-01-03 HealthDrive

Framingham, Massachusetts, United States

HealthDrive is a provider of medical and dental services in over 2,000 facilities, serving more than 200,000 enrolled senior living residents across four practices around the nation. HealthDrive was founded in 1989 and is based in Framingham, Massachusetts.

Sell -