Wellspring Capital Management Mergers and Acquisitions Summary

Private Equity Firm Profile

In the last 3 years, Wellspring Capital Management has acquired 6 companies.

Wellspring Capital Management’s most common sectors for investment areconsumer products (12%) and healthcare services (12%) . The Firm’s most common investment types include secondary buyout (42%) and buyout (lbo, mbo, mbi) (28%). In total, Wellspring Capital Management has invested in 24 US states and 3 different countries. Its largest (disclosed) acquisition occurred in 2008 when it acquired Performance Food Group for $1.4B.

In the last 3 years, Wellspring Capital Management has exited 4 companies. The Firm’s most common exit type is secondary buyout (42%). Wellspring Capital Management’s largest (disclosed) exit occurred in 2008 when it sold Vistar for $1.4B.

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M&A Summary

  • M&A Total Activity86
    • M&A Buy Activity50
    • M&A Sell Activity36
  • Total Sectors Invested 22
  • Total Countries Invested 3
  • M&A Buy/Sell Connections 22
  • M&A Advisors 14

Wellspring Capital Management

605 Third Avenue – 44 Floor,
New York, New York 10158
United States
www.wellspringcapital.com
info@wellspringcapital.com

Wellspring Capital Management is a mega-sized private equity firm that focused on a variety of transaction situations. The Firm will consider buyouts of private companies, acquisitions of divisions or subsidiaries of public companies, shareholder liquidity needs, partnering with entrepreneurs for growth opportunities, and special situations. Wellspring does not have any sector preferences and is capable of pursuing transactions valued up to $2 billion. Wellspring Capital Management was formed in 1995 and is based in New York City.


Investment Criteria

Sectors of Interest: Building Materials, Business Services, Consumer Products, Consumer Services, Distribution, Education, Energy Services and Equipment, Food, Forest Products, Franchising, Machinery, Manufacturing, Restaurants, Retail, Safety/Security

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

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

Transaction Criteria Min Max
Target Revenue - -
Target EBITDA - -
Investment Size - -
Enterprise Value 50 2,000
values in millions of USD

M&A Summary

Buy vs Sell

Year ≤ '18 '19 '20 '21 '22 '23 T
Buy (1.8/yr) # 41 3 2 4 - - 50
vol $2.6B $2.6B
Sell (1.4/yr) # 29 3 1 1 1 1 36
vol $4.6B $90M $4.7B
  86

Most Recent M&A

Company Date Value Type
Lucky Strike Entertainment LLC 2023-09-18 90M USD Trade Sale
Sherman Oaks, California · www.bowlluckystrike.com
Resco Products, Inc. 2022-03-08 - Secondary Sale
Pittsburgh, Pennsylvania · www.rescoproducts.com
Paragon Films, Inc. 2021-11-11 - Secondary Sale
Broken Arrow, Oklahoma · www.paragon-films.com
Caring Brands International, Inc. 2021-10-25 - Secondary Buyout
Sunrise, Florida · www.caringbrandsintl.com
Pentec Health, Inc. 2021-10-11 - Secondary Buyout
Glen Mills, Pennsylvania · www.pentechealth.com
Rohrer Corp. 2021-03-17 - Secondary Buyout
Wadsworth, Ohio · www.rohrer.com
HealthPRO Heritage 2021-03-15 - Recapitalization
Hunt Valley, Maryland · www.healthpro-heritage.com
Help At Home LLC 2020-10-30 - Secondary Sale
Chicago, Illinois · www.helpathome.com
Cadence Petroleum Group 2020-10-08 - Secondary Buyout
Asheboro, North Carolina · www.cadencepetroleum.com
Steele Solutions, Inc. 2020-05-29 - Secondary Buyout
Milwaukee, Wisconsin · www.steelesolutions.com
View All >>

Portfolio M&A

Company Acquired Add-On/Sale Date #
Airswift Holdings Ltd. 2016-01-29 Energy Resourcing Group 2023-08-08 3
Houston, Texas · www.airswift.com Perth, Australia · www.energyresourcing.com
SupplyOne, Inc. 2018-02-05 Riverside Paper Co., Inc. 2020-10-23 1
Newtown Square, Pennsylvania · www.supplyone.com Miami, Florida · www.rpconline.com
Hoffmaster Group, Inc. 2016-10-19 Aardvark Straws 2018-08-06 2
Oshkosh, Wisconsin · www.Hoffmaster.com Fort Wayne, Indiana · www.aardvarkstraws.com
Airswift Holdings Ltd. 2016-01-29 Air Energi Group Ltd. 2016-01-29 2
Houston, Texas · www.airswift.com Manchester, United Kingdom · www.airenergi.com
Airswift Holdings Ltd. 2016-01-29 Swift Technical Group Ltd. (Swift Worldwide Resources) 2016-01-29 1
Houston, Texas · www.airswift.com Enfield, United Kingdom · www.swiftworldwideresources.com

M&A by Sector

Sector Current # Value All-time # Value
Consumer Products 1 (8%) - 6 (12%) -
Healthcare Services 3 (25%) - 6 (12%) -
Packaging 2 (17%) - 5 (10%) -
Distribution 1 (8%) - 4 (8%) 1.4B (54%)
Building Materials 1 (8%) - 4 (8%) 435M (17%)
Manufacturing - - 3 (6%) -
Staffing 1 (8%) - 3 (6%) -
Leisure - - 2 (4%) 375M (15%)
Business Services - - 2 (4%) -
Consumer Services 1 (8%) - 2 (4%) -
Machinery - - 2 (4%) -
Restaurants - - 1 (2%) 188M (7%)
Energy Services and Equipment - - 1 (2%) 133M (5%)
Franchising - - 1 (2%) 55M (2%)
Automotive 1 (8%) - 1 (2%) -
Education - - 1 (2%) -
Food - - 1 (2%) -
Forest Products - - 1 (2%) -
Medical Products - - 1 (2%) -
Retail - - 1 (2%) -
Safety/Security - - 1 (2%) -
Transportation 1 (8%) - 1 (2%) -
Total 12 - 50 $2.6B

Acquisitions By Geo

State/Country Current # Value All-time # Value
United States 12 (100%) - 45 (90%) 2.6B (100%)
  Ohio 1 (8%) - 5 (10%) -
  Pennsylvania 2 (17%) - 4 (8%) -
  Texas 1 (8%) - 3 (6%) 375M (15%)
  Florida 1 (8%) - 3 (6%) 188M (7%)
  Michigan 1 (8%) - 3 (6%) -
  South Carolina - - 3 (6%) 435M (17%)
  Wisconsin 2 (17%) - 2 (4%) -
  Tennessee 1 (8%) - 2 (4%) -
  Colorado - - 2 (4%) 55M (2%)
  New York - - 2 (4%) -
  Illinois - - 2 (4%) -
  Georgia - - 2 (4%) -
  North Carolina 1 (8%) - 1 (2%) -
  Minnesota 1 (8%) - 1 (2%) -
  Maryland 1 (8%) - 1 (2%) -
  Virginia - - 1 (2%) 1.4B (54%)
  Louisiana - - 1 (2%) 133M (5%)
  Oklahoma - - 1 (2%) -
  New Jersey - - 1 (2%) -
  Missouri - - 1 (2%) -
  Massachusetts - - 1 (2%) -
  Delaware - - 1 (2%) -
  California - - 1 (2%) -
  Alabama - - 1 (2%) -
Canada - - 3 (6%) -
  Quebec - - 2 (4%) -
  British Columbia - - 1 (2%) -
United Kingdom - - 2 (4%) -
Domestic 12 (100%) - 45 (90%) 2.6B (100%)
Cross-border - - 5 (10%) -
Total 12 - 50 $2.6B

Acquisitions by Deal Type

Type Current # Value All-time # Value
Secondary Buyout 9 (75%) - 21 (42%) -
Buyout (LBO, MBO, MBI) - - 14 (28%) -
Going Private - - 5 (10%) 2.2B (83%)
Divestiture 1 (8%) - 5 (10%) 435M (17%)
Recapitalization 1 (8%) - 3 (6%) -
Consolidation 1 (8%) - 2 (4%) -
Total 12 - 50 $2.6B

Exits by Deal Type

Type Total # Value
Secondary Sale 15 (42%) 1.3B (28%)
Trade Sale 7 (19%) 1.8B (37%)
Trade Sale - Public Company 5 (14%) 1.6B (34%)
Merger 3 (8%) -
Bankruptcy 2 (6%) -
IPO 2 (6%) -
Recapitalization 1 (3%) -
Shut Down 1 (3%) -
Total 36 $4.7B

Top M&A Advisors

Financial Deals
Alvarez & Marsal
 2
Goldman Sachs
 2
Credit Suisse Investment Banking
 2
Legal Deals
Paul, Weiss, Rifkind, Wharton & Garrison
 15
McDermott Will & Emery
 6
Simpson Thacher & Bartlett
 2

Deal Values

buy # Total
> $1B 1 $1.4B
$100M to $1B 5 $1.1B
< $100M 1 $55M
TOTAL $2.6B
Largest Performance Food Group, Inc.
$1.4B (2008-01-18)
sell # Total
> $1B 1 $1.4B
$100M to $1B 8 $3.2B
< $100M 1 $90M
TOTAL $4.7B
Largest Vistar Corp.
$1.4B (2008-05-27)

M&A Connections

Deals
Acquired from
Investor(s)
44%
22 (44%)
Strategic(s)
8%
4 (8%)
Exited to
Investor(s)
42%
15 (42%)
Strategic(s)
42%
15 (42%)

Investor Summary

Investor Type

Private Equity Firm

Size

Large

PE Assets

4.0B USD

Established

1995

Specialist/Generalist

Generalist

Leadership

Alexander Carles

Co-President & Managing Partner

John Morningstar

Co-President & Managing Partner

Matthew Harrison

Managing Partner

Naishadh Lalwani

Partner

Marlene Reihard

CAO

FAQ

When was Wellspring Capital Management founded?

Wellspring Capital Management was founded in 1995.

What type of investor is Wellspring Capital Management?

Wellspring Capital Management is a private equity firm.

Where is Wellspring Capital Management headquartered?

Wellspring Capital Management is headquartered in New York, New York.

How much capital does Wellspring Capital Management have under management?

Wellspring Capital Management has 4.0B USD under management.

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