Vestar Capital Partners Mergers and Acquisitions Summary

Private Equity Firm Profile

In the last 3 years, Vestar Capital Partners has acquired 3 companies. It has also invested in 3 others.

Vestar Capital Partners’ most common sectors for investment arefood (13%) and insurance (9%) . The Firm’s most common investment types include buyout (lbo, mbo, mbi) (50%) and secondary buyout (17%). In total, Vestar Capital Partners has invested in 27 US states and 9 different countries. Its largest (disclosed) acquisition occurred in 2011 when it acquired Big Heart Pet Brands for $5.3B.

In the last 3 years, Vestar Capital Partners has exited 4 companies. The Firm’s most common exit type is trade sale (42%). Vestar Capital Partners’ largest (disclosed) exit occurred in 2015 when it sold Big Heart Pet Brands for $5.8B.

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M&A Summary

  • M&A Total Activity144
    • M&A Buy Activity81
    • M&A Sell Activity63
  • Total Sectors Invested 32
  • Total Countries Invested 9
  • M&A Buy/Sell Connections 68
  • M&A Advisors 19

Vestar Capital Partners

245 Park Avenue, 41st Floor,
New York, New York 10167
United States
(212) 351-1600
www.vestarcapital.com
info@vestarcapital.com

Vestar Capital Partners is a private equity firm that targets management buyouts and growth capital investments across North America and Europe in the consumer, business services, and healthcare sectors. The Firm looks to invest $50 to $150 million in transactions valued up to $1 billion. Specific areas of interest include food, apparel, household goods, retail, consumer services, industrial services, information services, manufacturing, distribution, transportation, financial services, media/communications, digital health media, and medical technology. Vestar Capital Partners was formed in 1988 and is based in New York City.


Investment Criteria

Sectors of Interest: Aerospace, Apparel/Textiles, Automotive, Beverages, Building Materials, Business Services, Chemicals, Communications, Consumer Products, Consumer Services, Education, Energy Services and Equipment, Environmental, Financial Services, Food, Healthcare Services, Information Services, Information Technology, Insurance, Machinery, Manufacturing, Marketing, Media, Medical Products, Packaging, Plastics, Publishing, Retail, Safety/Security, Software

Target Transaction Types: Buyout (LBO, MBO, MBI), Going Private, Growth Capital, Recapitalization, Secondary Buyout

Geographic Preferences: East US, Midwest US, South US, West US, Canada, United Kingdom, Western Europe, Eastern Europe, Scandinavia

Transaction Criteria Min Max
Target Revenue - -
Target EBITDA - -
Investment Size 50 150
Enterprise Value 100 1,000
values in millions of USD

M&A Summary

Buy vs Sell

Year ≤ '17 '18 '19 '20 '21 '22 T
Buy (1.4/yr) # 74 1 1 - 5 - 81
vol $16.6B $100M $16.7B
Sell (1.0/yr) # 58 1 1 1 1 1 63
vol $22.2B $1.1B $23.3B
  144

Most Recent M&A

Company Date Value Type
Information Resources, Inc. 2022-04-07 - Merger
Chicago, Illinois · www.iriworldwide.com
Healthgrades Operating Company, Inc. 2021-08-04 - Add-on Acquisition
Denver, Colorado · www.healthgrades.com
PetHonesty LLC 2021-07-14 - Growth Capital
Austin, Texas · www.pethonesty.com
Stratus Unlimited 2021-07-07 - Secondary Buyout
Mentor, Ohio · www.stratusunlimited.com
LERETA LLC 2021-07-06 - Secondary Buyout
Covina, California · www.lereta.com
Friday Health Plans, Inc. 2021-04-01 100M USD Secondary Buyout
Alamosa, Colorado · www.fridayhealthplans.com
Dr. Praeger’s Sensible Foods, Inc. 2021-01-21 - Growth Capital
Elmwood Park, New Jersey · www.drpraegers.com
Woodstream Corp. 2020-10-19 - Secondary Buyout
Lancaster, Pennsylvania · www.woodstream.com
Radiation Therapy Services, Inc. 2019-12-13 1.1B USD Add-on Acquisition
Fort Myers, Florida · www.21co.com
Simple Mills, Inc. 2019-10-07 - Stake Purchase
Chicago, Illinois · www.simplemills.com
View All >>

M&A by Sector

Sector Current # Value All-time # Value
Food 5 (36%) - 10 (12%) 5.9B (35%)
Insurance 1 (7%) 100M (7%) 7 (9%) 1.7B (10%)
Healthcare Services 1 (7%) - 6 (7%) 1.3B (8%)
Manufacturing - - 5 (6%) 423M (3%)
Consumer Products - - 5 (6%) -
Chemicals - - 4 (5%) 1.1B (7%)
Apparel/Textiles - - 4 (5%) 520M (3%)
Machinery 1 (7%) 332M (23%) 4 (5%) 332M (2%)
Financial Services - - 3 (4%) 364M (2%)
Aerospace - - 3 (4%) -
Business Services 3 (21%) - 3 (4%) -
Environmental - - 2 (2%) 3.5B (21%)
Information Services - - 2 (2%) 294M (2%)
Communications - - 2 (2%) -
Information Technology - - 2 (2%) -
Medical Products - - 2 (2%) -
Software 1 (7%) - 2 (2%) -
Transportation 1 (7%) 1.0B (70%) 1 (1%) 1.0B (6%)
Consumer Services - - 1 (1%) 338M (2%)
Beverages - - 1 (1%) -
Building Materials - - 1 (1%) -
Distribution 1 (7%) - 1 (1%) -
Education - - 1 (1%) -
Energy Services and Equipment - - 1 (1%) -
Internet Software and Services - - 1 (1%) -
Marketing - - 1 (1%) -
Media - - 1 (1%) -
Packaging - - 1 (1%) -
Publishing - - 1 (1%) -
Retail - - 1 (1%) -
Safety/Security - - 1 (1%) -
Technology Hardware - - 1 (1%) -
Total 14 $1.4B 81 $16.7B

Acquisitions By Geo

State/Country Current # Value All-time # Value
United States 12 (86%) 332M (23%) 65 (80%) 8.7B (52%)
  Illinois 3 (21%) - 8 (10%) -
  New York 2 (14%) 332M (23%) 7 (9%) 332M (2%)
  California 1 (7%) - 5 (6%) 5.8B (35%)
  Pennsylvania - - 5 (6%) -
  Ohio 1 (7%) - 4 (5%) -
  Texas 1 (7%) - 3 (4%) -
  North Carolina 1 (7%) - 3 (4%) -
  Florida - - 3 (4%) 1.3B (8%)
  Colorado - - 3 (4%) 294M (2%)
  Washington - - 3 (4%) -
  Connecticut - - 3 (4%) -
  New Jersey 1 (7%) - 2 (2%) -
  Georgia - - 2 (2%) -
  Wisconsin 1 (7%) - 1 (1%) -
  Oklahoma 1 (7%) - 1 (1%) -
  Minnesota - - 1 (1%) 600M (4%)
  Maryland - - 1 (1%) 364M (2%)
  Virginia - - 1 (1%) -
  Tennessee - - 1 (1%) -
  South Carolina - - 1 (1%) -
  Oregon - - 1 (1%) -
  New Hampshire - - 1 (1%) -
  Montana - - 1 (1%) -
  Mississippi - - 1 (1%) -
  Massachusetts - - 1 (1%) -
  Indiana - - 1 (1%) -
Bermuda 1 (7%) 1.0B (70%) 4 (5%) 1.0B (6%)
Italy - - 4 (5%) 1.2B (7%)
United Kingdom 1 (7%) 100M (7%) 2 (2%) 100M (1%)
  Colorado 1 (7%) 100M (7%) 1 (1%) 100M (1%)
Switzerland - - 2 (2%) 1.6B (10%)
Canada - - 1 (1%) 3.5B (21%)
  Alberta - - 1 (1%) 3.5B (21%)
France - - 1 (1%) 338M (2%)
Luxembourg - - 1 (1%) 338M (2%)
Germany - - 1 (1%) -
Domestic 12 (86%) 332M (23%) 65 (80%) 8.7B (52%)
Cross-border 2 (14%) 1.1B (77%) 16 (20%) 8.1B (48%)
Total 14 $1.4B 81 $16.7B

Acquisitions by Deal Type

Type Current # Value All-time # Value
Buyout (LBO, MBO, MBI) 4 (29%) 1.0B (70%) 40 (49%) 4.5B (27%)
Secondary Buyout 4 (29%) 100M (7%) 13 (16%) 855M (5%)
Growth Capital 3 (21%) - 11 (14%) -
Going Private 1 (7%) 332M (23%) 7 (9%) 10.7B (64%)
Divestiture - - 3 (4%) 702M (4%)
Recapitalization - - 3 (4%) -
Stake Purchase 2 (14%) - 2 (2%) -
Add-on Acquisition - - 1 (1%) -
PIPE - - 1 (1%) -
Total 14 $1.4B 81 $16.7B

Exits by Deal Type

Type Total # Value
Trade Sale 19 (30%) 4.7B (20%)
Secondary Sale 17 (27%) 3.9B (17%)
IPO 13 (21%) -
Trade Sale - Public Company 9 (14%) 14.7B (63%)
1 (2%) -
Merger 1 (2%) -
Recapitalization 1 (2%) -
Stake Sale 1 (2%) -
Unknown 1 (2%) -
Total 63 $23.3B

Top M&A Advisors

Financial Deals
William Blair & Co. LLC
 2
Goldman Sachs Investment Banking Division
 2
Robert W. Baird & Co., Inc.
 1
Legal Deals
Kirkland & Ellis LLP
 16
Latham & Watkins
 3
Simpson Thacher & Bartlett LLP
 3

Deal Values

buy # Total
> $1B 5 $12.5B
$100M to $1B 10 $4.1B
< $100M 1 $100M
TOTAL $16.7B
Largest Big Heart Pet Brands
$5.3B (2011-03-08)
sell # Total
> $1B 8 $17.7B
$100M to $1B 11 $5.5B
< $100M 1 $96M
TOTAL $23.3B
Largest Big Heart Pet Brands
$5.8B (2015-02-03)

M&A Connections

Deals
Acquired from
Investor(s)
19%
15 (19%)
Strategic(s)
4%
3 (4%)
Exited to
Investor(s)
27%
17 (27%)
Strategic(s)
44%
28 (44%)

Investor Summary

Investor Type

Private Equity Firm

Size

Mega

PE Assets

7.0B USD

Established

1988

Specialist/Generalist

Generalist

Leadership

Daniel O'Connell

Co-Founder & CEO

James Kelley

Founding Partner

Norman Alpert

Founding Partner & Co-President

Robert Rosner

Founding Partner & Co-President

James Elrod, Jr.

Managing Director

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