M&A Deal Summary

Main Street Capital Acquires California Splendor

On April 3, 2018, private equity firm Main Street Capital acquired food company California Splendor for 41M USD

Acquisition Highlights
  • This is Main Street Capital’s 1st transaction in the Food sector.
  • This is Main Street Capital’s largest (disclosed) transaction.
  • This is Main Street Capital’s 99th transaction in the United States.
  • This is Main Street Capital’s 7th transaction in California.

M&A Deal Summary
Date 2018-04-03
Target California Splendor
Sector Food
Buyer(s) Main Street Capital
Deal Type Buyout (LBO, MBO, MBI)
Deal Value 41M USD

Target

California Splendor

San Diego, California, United States
website
California Splendor, Inc. is a provider of frozen natural fruit ingredients. California Splendor processes a variety of organic and conventional fruits for blue-chip customers in both the consumer packaged goods and foodservice sectors. The Company's products are used as key ingredients in a variety of end-use applications including spreads and pies, individually quick frozen berries, smoothies and yogurts. California Splendor operates two processing facilities in San Diego and Canby, Oregon, which are strategically located adjacent to the premier strawberry and blackberry producing regions in the U.S. and Mexico.

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Buyer(S) 1

Buyer

Main Street Capital

Houston, Texas, United States

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 1997
PE ASSETS 3.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Main Street Capital Holdings is a public investment firm that invests in mid-market companies to support ownership transitions, recapitalizations, strategic acquisitions, business expansion and other growth initiatives. Main Street looks for businesses opearting in basic industries with positive cash-flow and and defensible competitive advantages. Main Street generally invests $5 to $75 million in companies with $10 to $150 million of revenue and EBITDA of $3 to $20 million. Investments are usually in the form of term debt and/or direct equity. Main Street Capital Corporation was formed in 1997 and is based in Houston, Texas.

DEAL STATS #
Overall 99 of 124
Sector (Food) 1 of 2
Type (Buyout (LBO, MBO, MBI)) 28 of 32
State (California) 7 of 10
Country (United States) 99 of 124
Year (2018) 5 of 11
Size (of disclosed) 1 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-03-06 NexRev

Plano, Texas, United States

NexRev LLC develops, manufactures and fabricates energy and facility management products and self-performs integration of HVAC, Electrical, Building Management Systems and Test and Balance services, directly to national account clients. NexRev's customers span a variety of end markets, including multi-site retailers, theaters, restaurants, commercial, and industrial facilities. NexRev's DrivePakâ„¢, Freedom EMS, Proactive Portfolio Management, and HVAC Replacement solutions enable clients to reduce both their capital and operational spend with performance guarantees.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-04-05 DPI

St. Louis, Missouri, United States

Digital Products International, Inc. is a designer, developer, and distributor of a broad assortment of consumer electronics to national retailers under several proprietary brands. DPI offers consumer electronics products under nine proprietary brands and private labels designed for value-conscious consumers. DPI's competitively priced products include Bluetooth and Wi-Fi devices, smartphone accessories, drones and connected home technology devices, amongst others. The Company sells its products to a diverse base of blue-chip brick-and-mortar retailers, e-Commerce platforms, home shopping networks and specialty electronic stores in all 50 states and over 40,000 retail locations in the United States, Canada and Latin America.

Buy -
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