M&A Deal Summary

Wind Point Partners and American Capital Acquire Bushnell

On August 19, 2005, private equity firms Wind Point Partners and American Capital acquired consumer products company Bushnell from Endeavour Capital, Norwest Equity Partners and NMP Capital

Acquisition Highlights
  • This is Wind Point Partners’ 3rd and American Capital’s 20th transaction in the Consumer Products sector.
  • This is Wind Point Partners’ 23rd and American Capital’s 163rd transaction in the United States.
  • This is Wind Point Partners’ 1st and American Capital’s 4th transaction in Kansas.
Investment Fate
  • Bushnell was sold to a consortium of financial buyers in 2007.
  • Bushnell was sold to a publicly-traded strategic buyer in 2013 for 985M USD.

M&A Deal Summary

Date 2005-08-19
Target Bushnell
Sector Consumer Products
Buyer(s) Wind Point Partners
American Capital
Sellers(s) Endeavour Capital
Norwest Equity Partners
NMP Capital
Deal Type Secondary Buyout

Target

Bushnell

Overland Park, Kansas, United States
Bushnell, Inc. is a designer, marketer and distributor of branded sports optics, outdoor accessories and performance eyewear. Bushnell offers a broad portfolio of high-quality, innovative and affordable products targeted to the outdoor and sport enthusiast.

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Buyer(S) 2

Buyer

Wind Point Partners

Chicago, Illinois, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1984
PE ASSETS 7.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Wind Point Partners is a private equity firm focused on acquisitions of mid-sized companies operating in the business services, consumer products, healthcare services, and industrial products sectors. Wind Point looks to invest $60 to $130 million in companies valued up to $500 million. Prospective transaction types include leveraged buyouts, recapitalizations, industry consolidations, and growth capital financings. Wind Point Partners began investing in 1984 and is based in Chicago.


DEAL STATS #
Overall 23 of 86
Sector: Consumer Products M&A 3 of 13
Type: Secondary Buyout M&A Deals 6 of 30
State: Kansas M&A 1 of 1
Country: United States M&A 23 of 79
Year: 2005 M&A 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2005-08-04 Eschelon Telecom

Minneapolis, Minnesota, United States

Eschelon Telecom, Inc. is a facilities-based competitive communications services provider of voice and data services and business telephone systems in 45 markets in the western United States.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2006-01-01 Summit Business Media Holding Co.

New York, New York, United States

Summit Business Media Holding Co. is a B2B media and information company serving the insurance, financial services, legal and investment advisory markets. Summit publishes 16 magazines and 150 reference titles, operates 20 websites and hosts a dozen conferences.

Buy -
Buyer

American Capital


Category Private Equity Firm
Founded 1997
PE ASSETS 22.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

American Capital was a publicly traded buyout and mezzanine investment firm. American Capital invested in buyouts, growth capital financings, acquistion financings, and recapitalizations. The Firm looked to finance businesses with at least $4 million in EBITDA and valued between $20 and $500 million. American Capital ws a generalist firm with broad interest in traditional industries such as manufacturing, distribution, and services. American Capital's European investment affiliate is European Capital. European Capital looked to invest $10 to $600 million of equity, mezzanine, and/or senior debt in similar opportunities across Europe. American Capital was formed in 1997 and in January 2017, merged with Ares Capital Management.


DEAL STATS #
Overall 168 of 265
Sector: Consumer Products M&A 20 of 22
Type: Secondary Buyout M&A Deals 33 of 60
State: Kansas M&A 4 of 4
Country: United States M&A 163 of 253
Year: 2005 M&A 31 of 43
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2005-08-16 Financial Asset Management Systems

Atlanta, Georgia, United States

Financial Asset Management Systems is a provider of financial services for clients in the Education, Financial Services, Government, Healthcare, and Telecommunications / Media markets. Financial Asset Management Systems was founded in 1993 and is based in Atlanta, Georgia.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2005-09-07 EAG Laboratories

San Diego, California, United States

EAG Laboratories is a North American provider of advanced chemical testing services for pesticides, industrial and household chemicals. It provides end-to-end support for e-fate, metabolism, eco-toxicology and residue studies required for pesticide and chemical regulatory testing to support global registration requirements.

Buy -

Seller(S) 3

SELLER

Endeavour Capital

Portland, Oregon, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1991
PE ASSETS 925M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Endeavour Capital LLC is a private equity firm that targets service and manufacturing companies headquartered in the Western United States. Endeavour looks to invest with and an enterprise value of $25 -$250 million with an EBITDA of $5-$50 million. Prospective companies are generally profitable with at least $5 million of EBITDA. Supported investment situations include growth capital financings, industry consolidations, management acquisitions, recapitalizations, and ownership transfers. The firm invests in the range of $25-$150 million per transaction. Areas Endeavour will not invest include real estate and emerging technology. Endeavour Capital was formed in 1991 and is based in Portland, Oregon with additional offices in Seattle, Washington, and Los Angeles, California.


DEAL STATS #
Overall 6 of 36
Sector: Consumer Products M&A 3 of 5
Type: Secondary Buyout M&A Deals 2 of 13
State: Kansas M&A 2 of 2
Country: United States M&A 6 of 35
Year: 2005 M&A 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2005-08-19 Michaels of Oregon Co.

Overland Park, Kansas, United States

Michaels is an manufacturer of accessories for the hunting, shooting sports and law enforcement markets.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2005-11-21 Tidewater

Vancouver, Washington, United States

Tidewater is an operator of a multi-commodity transportation and terminal company serving the diverse and evolving transportation needs of the Pacific Northwest. Tidewater is an essential infrastructure provider with high barriers to entry due to permitting, scale requirements, and regulatory barriers. Tidewater was founded in 1932 and is based in Vancouver, Washington.

Buy -
SELLER

Norwest Equity Partners

Minneapolis, Minnesota, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1961
PE ASSETS 6.7B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Norwest Equity Partners (NEP) is a private equity firm focused on investing in growing and profitable middle-market companies. NEP targets investments in businesses valued between $50 and $500 million, typically investing $75 to $175 million of capital per investment. Funds are typically used to fund management buyouts, recapitalizations, and growth financing. Sectors of interest include manufacturing, distribution, healthcare, technology/business services, and consumer products/services. NEP is affiliated with Norwest Mezzanine Partners, an investment partnership focused on providing junior capital to middle-market companies. Norwest Equity Partners is based in Minneapolis, Minnesota.


DEAL STATS #
Overall 6 of 56
Sector: Consumer Products M&A 3 of 9
Type: Secondary Buyout M&A Deals 3 of 24
State: Kansas M&A 2 of 2
Country: United States M&A 6 of 54
Year: 2005 M&A 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2005-08-19 Michaels of Oregon Co.

Overland Park, Kansas, United States

Michaels is an manufacturer of accessories for the hunting, shooting sports and law enforcement markets.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2006-01-04 Rosetta Stone

Arlington, Virginia, United States

Rosetta Stone is a provider of online language learning software. Rosetta Stone was founded in 1992 and is headquartered in Arlington, Virginia.

Buy -
SELLER

NMP Capital

Minneapolis, Minnesota, United States

Investor Investor Investor Investor Investor


Category Mezzanine Finance Firm
Founded 2000
PE ASSETS 4.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

NMP Capital is an independent investment firm focused on providing junior capital to a variety of lower middle-market companies in partnership with financial sponsors. NMP looks to commit $20 to $75 million in profitable companies with at least $10 million of EBITDA. NMP will consider opportunities in a wide range of industries including distribution, manufacturing, healthcare, and consumer. NMP Capital was formed in 2000 and is based in Minneapolis, Minnesota.


DEAL STATS #
Overall 7 of 56
Sector: Consumer Products M&A 4 of 8
Type: Secondary Buyout M&A Deals 3 of 21
State: Kansas M&A 2 of 2
Country: United States M&A 6 of 54
Year: 2005 M&A 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2005-08-19 Michaels of Oregon Co.

Overland Park, Kansas, United States

Michaels is an manufacturer of accessories for the hunting, shooting sports and law enforcement markets.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2006-05-02 National Print Group

Chattanooga, Tennessee, United States

National Print Group, Inc. (NPG) is the premier provider of in-store and out-of-home signage. With headquarters in Chattanooga, Tennessee since 1957, NPG operates state of the art manufacturing facilities and sales offices across the country. More than 400 team-based professionals are on hand to ensure customers receive expert guidance, outstanding service and unsurpassed product quality.

Sell -