Sun Capital Partners

Sun Capital Partners, Inc.
Private
Founded 1995 (1995)
Headquarters Boca Raton, Florida, US
Key people
 Rodger Krouse (co-CEO)
Marc J. Leder (co-CEO)
Products Private Equity Funds
Website www.suncappart.com

Sun Capital Partners, Inc. is an American privately held global investment firm focused on leveraged buyouts, equity, debt, and other investments. The company has invested in more than 360 companies worldwide and has offices in Boca Raton, Florida, Los Angeles and New York, and affiliates in London and Shenzhen.[1] Sun European Partners, LLP is the European adviser to Sun Capital Partners, Inc.[2]

Operations

Sun Capital has over $10.7 billion of Cumulative Capital Commitments (Cumulative Capital Commitments includes all commitments from current and prior funds - current AUM is $5.8 billion as of June 30, 2018), and often provides financing for the full purchase price at closing and then later raising long-term debt financing. Sun Capital targets companies with up to $1.5 billion or more of revenues, but many of its transactions are with businesses with sales between $50 million and $500 million.[1]

Investments

  • 2003: Sun Capital Partners acquired bagel chain Bruegger’s Enterprises.[3]
  • 2005: Sun Capital Partners acquired Creekstone Farms.[4]
  • 2005: Sun Capital Partners acquired Exopack, but following the purchase of additional international companies,[5] the company became Coveris.[6]
  • 2006: Sun Capital completed 33 transactions (both portfolio and add-on acquisitions) among which was Marsh Supermarkets of Indianapolis, Indiana, the owner/operator of 128 supermarkets/food stores, and 400 Village Pantry convenience stores, among other divisions.[7]
  • 2006: Sun Capital Partners acquired Big 10 Tire Stores.[8]
  • 2006: Sun Capital Partners acquired Del Monte Canada which it then sold it to ConAgra Foods in 2012.[9]
  • 2007: Sun Capital acquired majority stake in "The Limited" from L Brands in 2007 and the rest in 2010. They wrote of investment and closed stores in 2017[10]
  • 2008: Sun Capital Partners completed 26 transactions including a majority interest in Gordmans, a department store chain headquartered in Omaha, Nebraska.[11]
  • 2008: Sun Capital Partners acquired Frontier Spinning Mills.[12]
  • 2008: Sun Capital Partners acquired Kellwood.[13]
  • 2010: Sun Capital Partners acquired V&D, the largest Dutch warehouse chain that employed 10,000 people. The properties (shops etc.) were sold of and rented back by V&D surging exploitation costs. The chain went banckrupt in 2015 when Sun Capital Partners refused to extend credit, causing the closure of 64 stores and ending a 128 year company.
  • 2011: Sun Capital completed 33 transactions including an investment in The SCOOTER Store, acquired NextPharma (UK), Polestar UK Print, the Britton Group, Vitro America, Contessa Premium Foods and Scotch and Soda (clothing), an Amsterdam-based clothing manufacturer/retailer and Kobusch-Sengewald, a German-based packaging provider. Sun Capital has also exited Bruegger's Bagels[3] which was acquired by Groupe Le Duff and Big 10 Tires which was acquired by Pep Boys.
  • 2012: Sun Capital completed 30 transactions including Strauss Innovation, a Germany-based home furnishing and apparel retailer, American Golf UK clothing retailer Bonmarché, CornerStone Research & Development, Certified Power and Elix Polymers. Sun Capital has also exited Thermasys which was acquired by Wellspring Capital Management, Del Monte Canada was sold to ConAgra Foods[9] and Raybestos Powertrain was sold to Monomoy Capital Partners, FRS was sold to Park-Ohio Holdings, Sonneborn was sold to One Equity Partners and Fearmans Pork was sold to Sofina Foods.
  • 2012: Sun Capital acquired S&N Communications.[14]
  • 2013: Sun Capital completed eighteen acquisitions, eight exits and two IPOs. Some transactions include: Johnny Rockets was sold to Sun Capital Partners in 2013.[15] A majority stake in food packaging company Paragon Print and Packaging was also acquired by Sun Capital Partners in 2013.[16]
  • 2014: Sun Capital completed the acquisitions of ADTI, Aclara and Robertshaw. Sun Capital exited Wabash, Farfield Companies, Certified Power, Cornerstone, Manoir Aerospace, Emerald Performance Materials, DBA Apparel[17] and Chicago Leisure.
  • 2015: Sun Capital completed the acquisitions of Critical Flow Solutions, Flabeg, Flexitech and Flamingo Horticulture. Sun Capital exited Point Blank, VPS, Fazolis, Vari-Form, Hickory Farms, Polestar and Loud Technologies, Inc.
  • 2015: Sun Capital sold Point Blank to JLL Partners.[18]
  • 2016 Sun Capital Partners exited Kellwood Company, Admiral,[19] Critical Flow Solutions[20] and Innocor.[21]
  • 2016: Sun Capital Partners acquired Furniture Factory Outlet.[22]
  • 2017: Sun Capital Partners acquired BWGS,[23] Arrow Tru-Line,[24] Horizon Services,[25] AMES Taping Tools,[26] and C&K Holdings.[27]
  • 2017: Sun Capital Partners sold Creekstone Farms to Marubeni Corp.[28] and NextPharma to CapVest.[29]
  • 2018: Sun Capital Partners acquired ClearChoice Holdings[30], Afriflora[31] and ESIM Chemicals.[32]
  • 2018: Sun Capital Partners sold Aclara[33], Robertshaw[34], Albéa[35] and Demilec.[36]

References

  1. 1 2 Sun Capital: About US retrieved August 4, 2012
  2. ↑ "Sun European Partners, LLP | About Us". suneuropeanpartners.com. Retrieved 2017-04-18.
  3. 1 2 "How the Sun heated up bagel chain Bruegger's". Fortune. Retrieved 2017-03-20.
  4. ↑ "Creekstone Farms broadens its market". kansas. Retrieved 2017-03-20.
  5. ↑ Johnson, Jim. "Coveris grows through acquisitions with an eye toward smart fits - Plastics News". Plastics News. Retrieved 2017-03-20.
  6. ↑ "Coveris continues to grow with new equipment". Retrieved 2017-03-20.
  7. ↑ "Marsh hires Price Chopper executive as chairman, CEO". Retrieved 2017-03-20.
  8. ↑ Staff, Tire Business. "BREAKING NEWS: Pep Boys buys Big 10 Tire Stores - Tire Business". Tire Business. Retrieved 2017-03-20.
  9. 1 2 "ConAgra Foods acquires Del Monte Canada - Canadian Packaging". Canadian Packaging. 2012-01-18. Retrieved 2017-03-20.
  10. ↑ "The Limited owner almost doubles investment, but closing all stores". 2017-01-06.
  11. ↑ Star, Lincoln Journal. "Gordmans celebrating 100 years". Fremont Tribune. Retrieved 2016-03-28.
  12. ↑ "David Finnigan: Cotton Industry Provides Intriguing Investment Opportunities for Private Equity - PE Hub". PE Hub. 2012-01-19. Retrieved 2017-03-20.
  13. ↑ "http://www.bizjournals.com/stlouis/news/2012/05/07/kellwood-names-jill-granoff-ceo.html". www.bizjournals.com. Retrieved 2017-03-20. External link in |title= (help)
  14. ↑ "Today’s Transactions:
    Sun Cap Snaps Up S&N Communications"    . Mergers & Acquisitions. Retrieved 2017-03-20.
  15. ↑ Luna, Nancy (June 18, 2013). "O.C.-based burger chain Johnny Rockets sold". The Orange County Register. Retrieved 18 June 2013.
  16. ↑ "Paragon Print and Packaging Completes Investment Deal with Sun Capital Partners". Paragon Print and Packaging. Archived from the original on 2014-01-07.
  17. ↑ "Hanesbrands Inc. - Investors - Press Release".
  18. ↑ Pounds, Marcia Heroux. "Point Blank, bullet-proof vest maker, sold in Pompano Beach". Sun-Sentinel.com. Retrieved 2017-03-20.
  19. ↑ "Sun Capital exits Admiral - PE Hub". PE Hub. 2016-11-16. Retrieved 2017-03-20.
  20. ↑ "Affiliate of Sun Capital Partners Completes Sale of Critical Flow Solutions for $210 Million". www.businesswire.com. Retrieved 2017-03-20.
  21. ↑ "Bain Capital Private Equity to buy Innocor from Sun Capital - PE Hub". PE Hub. 2016-12-14. Retrieved 2017-03-20.
  22. ↑ "Sun Capital sees significant expansion ahead for latest acquisition". Retrieved 2017-03-20.
  23. ↑ "Sun Capital acquires BWGS - PE Hub". PE Hub. 2017-01-04. Retrieved 2017-03-20.
  24. ↑ "Affiliate of Sun Capital Partners Acquires Garage Door Hardware Manufacturer Arrow Tru-Line, Inc". Retrieved 2017-03-20.
  25. ↑ "Sun Capital Acquires Horizon Services". Wall Street Journal. 2017-03-07. ISSN 0099-9660. Retrieved 2017-03-20.
  26. ↑ "Sun Capital buys AMES - PE Hub". PE Hub. 2017-09-18. Retrieved 2017-09-19.
  27. ↑ "European Affiliate of Sun Capital Partners Acquires Electromechanical Switch Maker C&K Holdings". Retrieved 2018-02-08.
  28. ↑ "Sun Capital exits Creekstone Farms - PE Hub". PE Hub. 2017-07-20. Retrieved 2017-07-26.
  29. ↑ "Sun European Partners affiliate to sell NextPharma". Private Equity Wire. 2017-06-29. Retrieved 2018-02-08.
  30. ↑ "https://www.bizjournals.com/southflorida/news/2017/12/04/south-florida-private-equity-firm-acquires-dental.html". www.bizjournals.com. Retrieved 2018-02-08. External link in |title= (help)
  31. ↑ Riordan, Darragh (2017-12-20). "KKR sells rose grower Afriflora to Sun European Partners - Real Deals". Real Deals. Retrieved 2018-05-23.
  32. ↑ Langworth, Hannah (2018-05-14). "Sun European acquires agricultural chemicals maker ESIM from Ardian". Real Deals. Retrieved 2018-07-03.
  33. ↑ writer, Staff. "Sun Capital to Sell Aclara Technologies for $1.1 Billion". Retrieved 2018-02-08.
  34. ↑ Kreutzer, Laura (2018-01-05). "Sun Capital Cashes In Again on Manufacturing With Robertshaw Sale". Wall Street Journal. ISSN 0099-9660. Retrieved 2018-03-15.
  35. ↑ "PAI Partners acquires Albéa from Sun Capital - PE Hub". PE Hub. 2018-03-29. Retrieved 2018-05-23.
  36. ↑ "Sun Capital closes $350M Demilec exit | PitchBook". Retrieved 2018-05-23.
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