NEW YORK--(BUSINESS WIRE)--Vestar Capital Partners ("Vestar"), Brockway Moran & Partners ("Brockway
Moran") and CHS Capital how to get rid of skunk smell announced today that Vestar has signed a
definitive agreement to acquire Woodstream, a leading manufacturer and
marketer of branded pest and animal control as well as lawn and garden
products, from Brockway Moran and CHS Capital. Terms were not disclosed.
The transaction is expected to close in the second quarter of 2015.
Woodstream, through a broad portfolio of leading niche brands, services
the lawn and garden, birding, pet, rodent control, hobby farm and animal
control needs of consumers. Woodstream's brands include Victor mouse and
rat traps, Terro liquid ant bait, Perky-pet bird feeders, and Zareba and
Fi-Shock electronic animal and hobby farming fencing, among others.
"We have strategically assembled a portfolio of leading brands to better
serve our retail partners in important niche, destination categories,"
said Harry Whaley, president and chief executive officer of Woodstream.
"We are very pleased to have partnered with Brockway Moran & Partners
and CHS Capital. Going forward, Vestar's experience in branded consumer
products and track record of supporting its portfolio companies in
building companies through add-on acquisitions will be critically
important to Woodstream."
"We look forward to partnering with Harry Whaley and Woodstream's
excellent management team," said Brian O'Connor, managing director of
Vestar and co-head of the Consumer Group. "We believe Woodstream will
continue to achieve strong growth by investing in its leading brands,
particularly Victor and Terro, and by continuing its strategy of
pursuing complementary acquisitions."
"During our long history with Woodstream, the Company completed 11
strategic add-on acquisitions and expanded significantly in a number of
ways," said Lawrence I. Shagrin, a partner at Brockway Moran & Partners.
"We have enjoyed our collaboration with Woodstream and are confident
that Vestar will be an excellent value-added partner given their
significant capabilities."
The Senior Secured Loan Program (SSLP), jointly managed by affiliates of
GE Capital and Ares Capital Corporation, provided commitments for the
debt financing for the transaction. Kirkland & Ellis LLP acted as the
legal advisor to Vestar in this transaction. William Blair & Company,
Peter W. Klein, P.A. and Faegre Baker Daniels LLP how to get rid of snakes represented Woodstream
in the transaction.
About Woodstream
Woodstream, headquartered in Lititz, Pennsylvania, is a global
manufacturer and marketer of a broad portfolio of branded pest control
and lawn & garden products, under brands such as Victor®, Terro®,
Perky-Pet®, Havahart®, Safer®, Sweeney's® and Mosquito Magnet®, among
others. The company's products, which have leading market share
positions within their respective segments, are sold at more than
100,000 retail locations and to professional pest control providers
throughout the United States, Canada, the United Kingdom, and other
international markets.
About Vestar Capital Partners
Vestar Capital Partners is a leading U.S. middle-market private equity
firm currently managing approximately $5 billion in capital.
Specializing in management buyouts and growth capital investments,
Vestar invests and collaborates with incumbent management teams and
private owners in a creative, flexible and entrepreneurial way to build
long-term enterprise value. Vestar has extensive experience investing
across a wide variety of industries including Consumer, Healthcare,
Diversified Industries, and Financial Services. Since Vestar's founding
in 1988, Vestar funds have completed more than 70 investments in
companies with a total value of more than $40 billion. For more
information, please visit www.vestarcapital.com.
About Brockway Moran & Partners
Brockway Moran & Partners has raised over $1.3 billion of equity through
three private equity funds and is currently managing the investments of
Brockway Moran & Partners Fund II, L.P. and Brockway Moran & Partners
Fund III, L.P. The firm owns, in partnership with management, portfolio
companies which operate in industries including Healthcare, Education,
Consumer, and Distribution. The principals of the firm have a record of
productively working with management teams to build companies into
larger and more diverse enterprises. Since 1998, the firm has completed
over 85 transactions and has significant committed equity capital
available for acquisitions complementary to its portfolio companies. For
more information, visit www.brockwaymoran.com.
About CHS how to get rid of skunks Capital
CHS Capital is a Chicago-based private equity firm with 25 years of
experience investing in the middle market. Through partnerships with
strong management teams, CHS Capital aims to accelerate earnings growth
and drive value creation through human capital initiatives, performance
improvement actions and strategic growth activities. Throughout its
history, CHS Capital has made investments in over 395 businesses and
invested $2.9 billion of capital. For additional information, please
visit www.chsonline.com.
Moran") and CHS Capital how to get rid of skunk smell announced today that Vestar has signed a
definitive agreement to acquire Woodstream, a leading manufacturer and
marketer of branded pest and animal control as well as lawn and garden
products, from Brockway Moran and CHS Capital. Terms were not disclosed.
The transaction is expected to close in the second quarter of 2015.
Woodstream, through a broad portfolio of leading niche brands, services
the lawn and garden, birding, pet, rodent control, hobby farm and animal
control needs of consumers. Woodstream's brands include Victor mouse and
rat traps, Terro liquid ant bait, Perky-pet bird feeders, and Zareba and
Fi-Shock electronic animal and hobby farming fencing, among others.
"We have strategically assembled a portfolio of leading brands to better
serve our retail partners in important niche, destination categories,"
said Harry Whaley, president and chief executive officer of Woodstream.
"We are very pleased to have partnered with Brockway Moran & Partners
and CHS Capital. Going forward, Vestar's experience in branded consumer
products and track record of supporting its portfolio companies in
building companies through add-on acquisitions will be critically
important to Woodstream."
"We look forward to partnering with Harry Whaley and Woodstream's
excellent management team," said Brian O'Connor, managing director of
Vestar and co-head of the Consumer Group. "We believe Woodstream will
continue to achieve strong growth by investing in its leading brands,
particularly Victor and Terro, and by continuing its strategy of
pursuing complementary acquisitions."
"During our long history with Woodstream, the Company completed 11
strategic add-on acquisitions and expanded significantly in a number of
ways," said Lawrence I. Shagrin, a partner at Brockway Moran & Partners.
"We have enjoyed our collaboration with Woodstream and are confident
that Vestar will be an excellent value-added partner given their
significant capabilities."
The Senior Secured Loan Program (SSLP), jointly managed by affiliates of
GE Capital and Ares Capital Corporation, provided commitments for the
debt financing for the transaction. Kirkland & Ellis LLP acted as the
legal advisor to Vestar in this transaction. William Blair & Company,
Peter W. Klein, P.A. and Faegre Baker Daniels LLP how to get rid of snakes represented Woodstream
in the transaction.
About Woodstream
Woodstream, headquartered in Lititz, Pennsylvania, is a global
manufacturer and marketer of a broad portfolio of branded pest control
and lawn & garden products, under brands such as Victor®, Terro®,
Perky-Pet®, Havahart®, Safer®, Sweeney's® and Mosquito Magnet®, among
others. The company's products, which have leading market share
positions within their respective segments, are sold at more than
100,000 retail locations and to professional pest control providers
throughout the United States, Canada, the United Kingdom, and other
international markets.
About Vestar Capital Partners
Vestar Capital Partners is a leading U.S. middle-market private equity
firm currently managing approximately $5 billion in capital.
Specializing in management buyouts and growth capital investments,
Vestar invests and collaborates with incumbent management teams and
private owners in a creative, flexible and entrepreneurial way to build
long-term enterprise value. Vestar has extensive experience investing
across a wide variety of industries including Consumer, Healthcare,
Diversified Industries, and Financial Services. Since Vestar's founding
in 1988, Vestar funds have completed more than 70 investments in
companies with a total value of more than $40 billion. For more
information, please visit www.vestarcapital.com.
About Brockway Moran & Partners
Brockway Moran & Partners has raised over $1.3 billion of equity through
three private equity funds and is currently managing the investments of
Brockway Moran & Partners Fund II, L.P. and Brockway Moran & Partners
Fund III, L.P. The firm owns, in partnership with management, portfolio
companies which operate in industries including Healthcare, Education,
Consumer, and Distribution. The principals of the firm have a record of
productively working with management teams to build companies into
larger and more diverse enterprises. Since 1998, the firm has completed
over 85 transactions and has significant committed equity capital
available for acquisitions complementary to its portfolio companies. For
more information, visit www.brockwaymoran.com.
About CHS how to get rid of skunks Capital
CHS Capital is a Chicago-based private equity firm with 25 years of
experience investing in the middle market. Through partnerships with
strong management teams, CHS Capital aims to accelerate earnings growth
and drive value creation through human capital initiatives, performance
improvement actions and strategic growth activities. Throughout its
history, CHS Capital has made investments in over 395 businesses and
invested $2.9 billion of capital. For additional information, please
visit www.chsonline.com.