Versa Capital Management Mergers and Acquisitions Summary

Distressed Investor Profile

Versa Capital Management’s most common sectors for investment areretail (22%) and consumer services (11%) . The Firm’s most common investment types include special situations/distressed (33%) and buyout (lbo, mbo, mbi) (25%). In total, Versa Capital Management has invested in 15 US states and 3 different countries.

In the last 3 years, Versa Capital Management has exited 3 companies. The Firm’s most common exit type is trade sale (43%). Versa Capital Management’s largest (disclosed) exit occurred in 2007 when it sold Central Lewmar for $185M.

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M&A Summary

  • M&A Total Activity46
    • M&A Buy Activity27
    • M&A Sell Activity19
  • Total Sectors Invested 15
  • Total Countries Invested 3
  • M&A Buy/Sell Connections 12
  • M&A Advisors 4

Versa Capital Management

Ten Penn Center 1801 Market Street Suite 2525,
Philadelphia, Pennsylvania 19103
United States
(215) 609-3400
www.versa.com
info@versa.com

Versa Capital Management is a private equity firm focused on investing in complex or distressed situations. Versa looks for businesses headquartered in North America generating annual sales of $50 million to $1 billion or valued between $25 to $500 million. Prospective investment situations can include buyouts, divestitures, recapitalizations, restructurings/turnarounds, take privates, rescue financing, and liquidations. Versa Capital Management is headquartered in Philadelphia, Pennsylvania.


Investment Criteria

Sectors of Interest: Apparel/Textiles, Consumer Services, Distribution, Internet Software and Services, Machinery, Manufacturing, Marine, Publishing, Restaurants, Retail, Safety/Security, Software, Technology Hardware

Target Transaction Types: Buyout (LBO, MBO, MBI), Consolidation, Divestiture, Going Private, Recapitalization, Special Situations/Distressed, Secondary Buyout, Stake Purchase

Geographic Preferences: East US, Midwest US, South US, West US, Canada

Transaction Criteria Min Max
Target Revenue 50 1,000
Target EBITDA - -
Investment Size 10 100
Enterprise Value 25 500
values in millions of USD

M&A Summary

Buy vs Sell

Year ≤ '18 '19 '20 '21 '22 '23 T
Buy (0.2/yr) # 26 1 - - - - 27
Sell (1.0/yr) # 14 2 1 2 - - 19
vol $185M $185M
  46

Most Recent M&A

Company Date Value Type
SynCardia Systems LLC 2021-09-30 - Add-on Acquisition
Tucson, Arizona · www.syncardia.com
Hatteras Yachts, Inc. 2021-05-20 - Add-on Acquisition
New Bern, North Carolina · www.hatterasyachts.com
BridgeStreet Worldwide (dba BridgeStreet Global Hospitality) 2020-11-25 - Bankruptcy
Herndon, Virginia · www.bridgestreet.com
Avenue Stores LLC 2019-08-19 - Bankruptcy
Rochelle Park, New Jersey · www.avenue.com
Polartec LLC 2019-06-11 - Add-on Acquisition
Lawrence, Massachusetts · www.polartec.com
Alex Apparel Group, Inc. 2019-05-28 - Secondary Buyout
New York, New York · www.alexevenings.com
Bell and Howell LLC 2018-12-03 - Recapitalization
Durham, North Carolina · www.bellhowell.net
BCC Software LLC 2017-10-11 - Secondary Buyout
Rochester, New York · www.bccsoftware.com
The Wet Seal LLC 2017-02-02 - Bankruptcy
Irvine, California · www.wetseal.com
SynCardia Systems LLC 2016-09-20 - Special Situations/Distressed
Tucson, Arizona · www.syncardia.com
View All >>

Portfolio M&A

Company Acquired Add-On/Sale Date #
Civitas Media LLC 2012-09-11 Middlesboro Daily News 2017-09-11 2
Davidson, North Carolina · www.civitasmedia.com Middlesboro, Kentucky · www.middlesborodailynews.com
Civitas Media LLC 2012-09-11 The Claiborne Progress 2017-09-11 1
Davidson, North Carolina · www.civitasmedia.com Tazewell, Tennessee · www.claiborneprogress.net
Civitas Media LLC 2012-09-11 Impressions Media 2012-09-11 4
Davidson, North Carolina · www.civitasmedia.com , Pennsylvania
Civitas Media LLC 2012-09-11 Ohio Community Media LLC 2012-09-11 3
Davidson, North Carolina · www.civitasmedia.com Tipp City, Ohio · www.brownpublishing.com
Civitas Media LLC 2012-09-11 Freedom Central 2012-09-11 2
Davidson, North Carolina · www.civitasmedia.com , Illinois
Civitas Media LLC 2012-09-11 Heartland Publications LLC 2012-09-11 1
Davidson, North Carolina · www.civitasmedia.com Clinton, Connecticut

M&A by Sector

Sector Current # Value All-time # Value
Retail 2 (20%) - 6 (21%) -
Apparel/Textiles 2 (20%) - 3 (11%) -
Consumer Services 1 (10%) - 3 (11%) -
Manufacturing 1 (10%) - 3 (11%) -
Publishing 1 (10%) - 3 (11%) -
Airlines 1 (10%) - 1 (4%) -
Distribution - - 1 (4%) -
Electrical Equipment - - 1 (4%) -
Internet Software and Services - - 1 (4%) -
Marine - - 1 (4%) -
Medical Products - - 1 (4%) -
Restaurants 1 (10%) - 1 (4%) -
Safety/Security - - 1 (4%) -
Software - - 1 (4%) -
Technology Hardware 1 (10%) - 1 (4%) -
Total 10 - 28 -

Acquisitions By Geo

State/Country Current # Value All-time # Value
United States 8 (80%) - 26 (93%) -
  Connecticut 1 (10%) - 3 (11%) -
  North Carolina 1 (10%) - 3 (11%) -
  Ohio - - 3 (11%) -
  California 1 (10%) - 2 (7%) -
  Virginia 1 (10%) - 2 (7%) -
  Tennessee 1 (10%) - 2 (7%) -
  New York 1 (10%) - 2 (7%) -
  New Jersey - - 2 (7%) -
  Florida 1 (10%) - 1 (4%) -
  Michigan 1 (10%) - 1 (4%) -
  Illinois - - 1 (4%) -
  Colorado - - 1 (4%) -
  Arizona - - 1 (4%) -
  Pennsylvania - - 1 (4%) -
  Massachusetts - - 1 (4%) -
Canada 1 (10%) - 1 (4%) -
  Ontario 1 (10%) - 1 (4%) -
Spain 1 (10%) - 1 (4%) -
Domestic 8 (80%) - 26 (93%) -
Cross-border 2 (20%) - 2 (7%) -
Total 10 - 28 -

Acquisitions by Deal Type

Type Current # Value All-time # Value
Special Situations/Distressed 4 (40%) - 9 (32%) -
Buyout (LBO, MBO, MBI) 2 (20%) - 7 (25%) -
Divestiture 1 (10%) - 5 (18%) -
Recapitalization 1 (10%) - 2 (7%) -
Secondary Buyout 1 (10%) - 2 (7%) -
Stake Purchase - - 2 (7%) -
Consolidation 1 (10%) - 1 (4%) -
Total 10 - 28 -

Exits by Deal Type

Type Total # Value
Trade Sale 7 (37%) -
Bankruptcy 5 (26%) -
Secondary Sale 3 (16%) -
Recapitalization 2 (11%) -
Trade Sale - Public Company 1 (5%) 185M (100%)
Merger 1 (5%) -
Total 19 $185M

Top M&A Advisors

Financial Deals
Lazard Middle Market
 1
Lincoln International
 1
Legal Deals
Dechert LLP
 2
Sullivan & Cromwell LLP
 1

Deal Values

sell # Total
$100M to $1B 1 $185M
TOTAL $185M
Largest Central Lewmar LLC
$185M (2007-08-17)

M&A Connections

Deals
Acquired from
Investor(s)
11%
3 (11%)
Strategic(s)
18%
5 (18%)
Exited to
Investor(s)
26%
5 (26%)
Strategic(s)
47%
9 (47%)

Investor Summary

Investor Type

Distressed Investor

Size

Large

PE Assets

1.4B USD

Established

2004

Specialist/Generalist

Generalist

Leadership

Gregory Segall

Chairman & CEO

Randall Schultz

CFO & CCO

Paul Halpern

CIO

Matthew Levitties

Managing Director

William Quinn

Managing Director

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