Affiliates Of Sun Capital Partners, Inc. Acquire A Record 14 Companies In The First Half Of 2005
BOCA RATON, Fla., July 11 -- Sun Capital Partners, Inc., a leading private investment firm specializing in leveraged buyouts and investments in market-leading companies, today announced that in the first half of 2005 its affiliates have acquired eight platform companies and six add-on investments.
PLATFORM COMPANIES Bachrach Clothing
Bachrach Clothing is a specialty retailer of men's clothing. Founded in 1877 and headquartered in Decatur, Illinois, Bachrach operates 49 mall-based stores in 17 mostly midwestern states, as well as a mail order and online catalogue business. Nearly 100% of goods are offered under the Bachrach label.
Crane Plumbing
Crane Plumbing manufactures plumbing fixtures and specialty plumbing products in 20 U.S. and Canadian facilities and distributes its products to over 3,000 plumbing wholesale outlets and 4,000 retail stores. Products include vitreous china fixtures (toilets, lavatories, etc.) and specialty products such as shower inserts and doors, steel bathtubs, and terrazzo basins. Crane's brands include Crane Plumbing, Fiat, Showerite, Universal- Rundle, and Sanymetal.
Creekstone Farms Premium Beef
Creekstone Farms Premium Beef is a specialty beef processor. Located in Arkansas City, Kansas, Creekstone owns and operates one of the most modern, sanitary, and humane beef processing facilities in the industry. The company offers value-added Black Angus products such as burgers, deli meats, fully- cooked entrees, and an "All Natural" line featuring Black Angus products that have been raised without the use of supplemental hormones or antibiotics at any stage in the animal's life.
Lee Cooper Group
Lee Cooper Group is a designer, distributor, and marketer of branded jeans, clothing, accessories, and footwear. Nearly 100-years old, it is the third leading brand of jeans in France and in the UK and the second leading brand in Belgium. The Company has a worldwide presence through its extensive licensee network with operations in over 40 countries. Headquartered in London, Lee Cooper has sales operations in Belgium and France, as well as a manufacturing facility in Tunisia.
Olympia Group Olympia Group designs, imports, and distributes hand tools and lawn and garden products for consumer and professional users. Headquartered in City of Industry, California and with offices in six countries worldwide, Olympia's products include hammers, pliers, screwdrivers, knives, tape measures, saws, long and short gardening tools, aprons, aluminum storage cases, and gloves. Brands include Olympia, Village Blacksmith, Roughneck, Thorsen, Babco, Chronium, Continental Abrasives, Work Gear, and Euro Cut.
Souper Salad
Souper Salad operates 91 all-you-care-to-eat soup and salad bar family restaurants located in 13 states with primary concentrations in Texas (41 restaurants), Colorado (14 restaurants), and Arizona (13 restaurants). A selection of salad items, soups, pasta salads, lettuce wraps, baked potatoes, breads, and dessert items are made fresh daily at each location.
Sonneborn
Sonneborn is the world's largest dedicated supplier of white oils, petrolatum, microcrystalline waxes, and other refined hydrocarbons such as ink oils, refrigeration oils, and cable filling compounds. Many of the largest personal care, cosmetic, pharmaceutical, and food processing companies use Sonneborn's products for creams and lotions, cosmetics, and pharmaceutical ointments.
ThermaSys
ThermaSys is a low volume, short run manufacturer of customizable heat transfer products such as radiators and hydraulic system cooling modules for automobiles, trucks, and railroads, as well as residential heating and air conditioning applications. The company relies on fast production cycles, short lead times, and economies of scope rather than scale for its competitive advantage.
ADD-ON INVESTMENTS Bruegger's Bagels Acquired Outland Bagels and Alpine Bagels
Bruegger's Bagels, headquartered in Burlington, Vermont, is a leading retail chain of fresh bagel bakeries. Bruegger's currently operates 132 company-owned stores and franchises 112 stores to 14 third-party franchises. Outland Bagels and Alpine Bagels are single-store add-on acquisitions for Bruegger's Bagels.
Loud Technologies Acquired St. Louis Music
Loud Technologies, headquartered in Woodinville, Washington, is a leading manufacturer and marketer of high quality professional audio equipment including mixers, speakers, receivers, and amplifiers. Loud's products are marketed under the Mackie, EAW, and Tapco brands. St. Louis Music is an 82- year old manufacturer, distributor, and importer of branded musical instruments and equipment, including: Ampeg, the number one line of bass amplifiers; Crate, a leading larger instrument amplifier; Alvarez acoustic guitars; and Knilling violins, violas, celli, and basses.
Nexia, SA Acquired TCL Group
Nexia, SA has entered into a joint venture with TCL Group. TCL is a regional chilled transportation company with operations in southeast France. The joint venture will utilize one of TCL's five sites in southeast France, allowing the new operation an opportunity to develop a strong share of the chilled transportation market in the region. In connection with this transaction, Nexia received an option to acquire all of TCL's stock by the end of 2005 on pre-negotiated terms.
Respiratory Distributors, Inc. Acquired Global Solutions
Respiratory Distributors, Inc., which is a specialty distributor of pharmaceuticals and proprietary products used in the treatment of patients with chronic obstructive pulmonary disease, acquired the assets of Global Solutions, LLC. Global Solutions, located in Morristown, Tennessee, is a plastic vial manufacturing company servicing mail order pharmacies.
Smart Papers Acquired Park Falls
Smart Papers, LLC, a provider of premium paper products and services, acquired Park Falls, LLC, also a provider of premium papers. The Park Falls acquisition includes three pulp and paper mills and a 203,000 square foot distribution warehouse in Chicago. Smart Paper's brand names include Kromekote(R), Knightkote(R) Matte, SMART Digital(TM), Carnival(R), Synergy(R), and SMART Brights(R).
Sun Capital Partners Comment
Marc J. Leder, Co-CEO of Sun Capital Partners, commented, "Our affiliates continue to see many opportunities to acquire small to mid-size turnaround and underperforming companies that are experiencing operational challenges or liquidity problems. This is the highest level of activity in any six-month period in our history."
About Sun Capital Partners, Inc.
Sun Capital Partners, Inc. is a leading private investment firm focused on leveraged buyouts and investments in market-leading companies that can benefit from its in house operating professionals and experience. With more than $2.5 billion of capital under management and with offices in Boca Raton, Los Angeles, New York, and London, affiliates of Sun Capital Partners, Inc. have acquired more than 90 companies throughout the world with consolidated sales in excess of $20.0 billion. For more information about Sun Capital Partners, Inc. please visit www.SunCapPart.com.