Sun Capital Partners

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 375 companies worldwide and has offices in Boca Raton, Florida, Los Angeles and New York, and an affiliate in London.[1] Sun European Partners, LLP is the European adviser to Sun Capital Partners, Inc.[2]

This article is about the US private equity firm. For the London-based private equity firm founded by Hugh Osmond, see Sun Capital Partners (UK).
Sun Capital Partners, Inc.
Private
Founded1995 (1995)
HeadquartersBoca Raton, Florida, US
Key people
Rodger Krouse (co-CEO)
Marc J. Leder (co-CEO)
ProductsPrivate Equity Funds
Websitewww.suncappart.com

Operations

Sun Capital has approximately $13 billion of Cumulative Capital Commitments (Cumulative Capital Commitments includes all commitments from current and prior funds - current AUM is $7.1 billion as of September 30, 2019), and often provides financing for the full purchase price at closing and then later raising long-term debt financing. Sun Capital targets companies with $50 million to $1.0 billion in revenue for a platform investment, any revenue size for add-on opportunities to existing portfolio companies.[1]

Investments
  • 2003: Sun Capital Partners acquired bagel chain Bruegger's Enterprises[3] and majority share of Mackie Designs.[4]
  • 2005: Sun Capital Partners acquired Creekstone Farms.[5]
  • 2005: Sun Capital Partners acquired Exopack, but following the purchase of additional international companies,[6] the company became Coveris.[7]
  • 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.[8]
  • 2006: Sun Capital Partners acquired Big 10 Tire Stores.[9]
  • 2006: Sun Capital Partners acquired Del Monte Canada which it then sold it to ConAgra Foods in 2012.[10]
  • 2007: Sun Capital acquired majority stake in "The Limited" from L Brands in 2007 and the rest in 2010. They wrote off the investment and closed stores in 2017.[11]
  • 2007 Sun Capital Partners acquired Restaurants Unlimited Inc for an unspecified amount.[12]
  • 2008: Sun Capital Partners completed 26 transactions including a majority interest in Gordmans, a department store chain headquartered in Omaha, Nebraska.[13]
  • 2008: Sun Capital Partners acquired Frontier Spinning Mills.[14]
  • 2008: Sun Capital Partners acquired Kellwood.[15]
  • 2010: Sun Capital Partners acquired V&D, the largest Dutch warehouse chain that employed 10,000 people.[16] The chain went bankrupt in 2015 when Sun Capital Partners refused to extend additional credit.[16]
  • 2011: Sun Capital completed 33 transactions including an investment in The SCOOTER Store,[17] 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[10] and Raybestos Powertrain was sold to Monomoy Capital Partners,[18] FRS was sold to Park-Ohio Holdings,[19] Sonneborn was sold to One Equity Partners[20][21] and Fearmans Pork was sold to Sofina Foods.[22]
  • 2012: Sun Capital acquired S&N Communications.[23]
  • 2013: Sun Capital completed eighteen acquisitions, eight exits and two IPOs. Some transactions include: Johnny Rockets was sold to Sun Capital Partners in 2013.[24] A majority stake in food packaging company Paragon Print and Packaging was also acquired by Sun Capital Partners in 2013.[25]
  • 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[26] and Chicago Leisure.
  • 2015: Sun Capital completed the acquisitions of Critical Flow Solutions, Flabeg, Flexitech and Flamingo Horticulture. Sun Capital exited Point Blank, VPS, Fazoli's, Vari-Form, Hickory Farms, Polestar and LOUD Technologies, Inc.
  • 2015: Sun Capital sold Point Blank to JLL Partners.[27]
  • 2016 Sun Capital Partners exited Kellwood Company, Admiral,[28] Critical Flow Solutions[29] and Innocor.[30]
  • 2016: Sun Capital Partners acquired Furniture Factory Outlet.[31]
  • 2017: Sun Capital Partners acquired BWGS,[32] Arrow Tru-Line,[33] Horizon Services,[34] AMES Taping Tools,[35] and C&K Holdings.[36]
  • 2017: Sun Capital Partners sold Creekstone Farms to Marubeni Corp.[37] and NextPharma to CapVest.[38]
  • 2018: Sun Capital Partners acquired ClearChoice Holdings,[39] Afriflora[40] and ESIM Chemicals.[41]
  • 2018: Sun Capital Partners sold Aclara,[42] Robertshaw,[43] Albéa[44] and Demilec.[45]
  • 2019: Sun Capital Partners sold Horizon Services.[46]
  • 2020: Sun Capital sold Boston Market. [47]
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References
  1. Sun Capital: About US retrieved August 4, 2012
  2. "Sun European Partners, LLP | About Us". suneuropeanpartners.com. Retrieved 2017-04-18.
  3. "How the Sun heated up bagel chain Bruegger's". Fortune. Retrieved 2017-03-20.
  4. Benzuly, Sarah. "Sun Capital Infuses Mackie". MIX. Future plc. Retrieved 4 January 2019.
  5. "Creekstone Farms broadens its market". kansas. Retrieved 2017-03-20.
  6. Johnson, Jim. "Coveris grows through acquisitions with an eye toward smart fits - Plastics News". Plastics News. Retrieved 2017-03-20.
  7. "Coveris continues to grow with new equipment". Retrieved 2017-03-20.
  8. "Marsh hires Price Chopper executive as chairman, CEO". Retrieved 2017-03-20.
  9. Staff, Tire Business. "BREAKING NEWS: Pep Boys buys Big 10 Tire Stores - Tire Business". Tire Business. Retrieved 2017-03-20.
  10. "ConAgra Foods acquires Del Monte Canada - Canadian Packaging". Canadian Packaging. 2012-01-18. Retrieved 2017-03-20.
  11. "The Limited owner almost doubles investment, but closing all stores". 2017-01-06.
  12. Richman, Dan (2007-03-28). "Restaurants Unlimited of Seattle is sold to Florida investment firm". Seattle Post-Intelligencer. Retrieved 2019-08-30.
  13. Star, Lincoln Journal. "Gordmans celebrating 100 years". Fremont Tribune. Retrieved 2016-03-28.
  14. "David Finnigan: Cotton Industry Provides Intriguing Investment Opportunities for Private Equity - PE Hub". PE Hub. 2012-01-19. Retrieved 2017-03-20.
  15. "kellwood names jill granoff ceo". www.bizjournals.com. Retrieved 2017-03-20.
  16. "Dutch retail chain V&D declared bankrupt". Reuters. 2015-12-31. Retrieved 2020-01-07.
  17. "The Scooter Store secures financing for growth". www.bizjournals.com. 2 February 2011. Retrieved 2020-01-07.
  18. Shieber, Jonathan (2012-03-03). "Monomoy Buys Raybestos Powertrain From Sun Capital". Wall Street Journal. ISSN 0099-9660. Retrieved 2019-12-29.
  19. "Southfield's Fluid Routing Solutions acquired by Park-Ohio Industries". Crain's Detroit Business. 2012-03-06. Retrieved 2019-12-29.
  20. "One Equity Acquires Sonneborn From Sun | Chemical & Engineering News". cen.acs.org. Retrieved 2019-12-29.
  21. Dai, Shasha (2012-03-06). "Sun Capital Nears Deal To Sell Sonneborn To One Equity Partners". Wall Street Journal. ISSN 0099-9660. Retrieved 2019-12-29.
  22. Wursthorn, Michael (2012-04-10). "Leaving The Trough, Sun Capital Sells Hog Slaughterhouse To Sofina". Wall Street Journal. ISSN 0099-9660. Retrieved 2019-12-29.
  23. "Today's Transactions:
    Sun Cap Snaps Up S&N Communications"    . Mergers & Acquisitions. Retrieved 2017-03-20.
  24. Luna, Nancy (June 18, 2013). "O.C.-based burger chain Johnny Rockets sold". The Orange County Register. Retrieved 18 June 2013.
  25. "Paragon Print and Packaging Completes Investment Deal with Sun Capital Partners". Paragon Print and Packaging. Archived from the original on 2014-01-07.
  26. "Hanesbrands Inc. - Investors - Press Release".
  27. Pounds, Marcia Heroux. "Point Blank, bullet-proof vest maker, sold in Pompano Beach". Sun-Sentinel.com. Retrieved 2017-03-20.
  28. "Sun Capital exits Admiral - PE Hub". PE Hub. 2016-11-16. Retrieved 2017-03-20.
  29. "Affiliate of Sun Capital Partners Completes Sale of Critical Flow Solutions for $210 Million". www.businesswire.com. Retrieved 2017-03-20.
  30. "Bain Capital Private Equity to buy Innocor from Sun Capital - PE Hub". PE Hub. 2016-12-14. Retrieved 2017-03-20.
  31. "Sun Capital sees significant expansion ahead for latest acquisition". Retrieved 2017-03-20.
  32. "Sun Capital acquires BWGS - PE Hub". PE Hub. 2017-01-04. Retrieved 2017-03-20.
  33. "Affiliate of Sun Capital Partners Acquires Garage Door Hardware Manufacturer Arrow Tru-Line, Inc". Retrieved 2017-03-20.
  34. "Sun Capital Acquires Horizon Services". Wall Street Journal. 2017-03-07. ISSN 0099-9660. Retrieved 2017-03-20.
  35. "Sun Capital buys AMES - PE Hub". PE Hub. 2017-09-18. Retrieved 2017-09-19.
  36. "European Affiliate of Sun Capital Partners Acquires Electromechanical Switch Maker C&K Holdings". Retrieved 2018-02-08.
  37. "Sun Capital exits Creekstone Farms - PE Hub". PE Hub. 2017-07-20. Retrieved 2017-07-26.
  38. "Sun European Partners affiliate to sell NextPharma". Private Equity Wire. 2017-06-29. Retrieved 2018-02-08.
  39. "south florida private equity firm- acquires dental clinique". www.bizjournals.com. Retrieved 2018-02-08.
  40. Riordan, Darragh (2017-12-20). "KKR sells rose grower Afriflora to Sun European Partners - Real Deals". Real Deals. Retrieved 2018-05-23.
  41. Langworth, Hannah (2018-05-14). "Sun European acquires agricultural chemicals maker ESIM from Ardian". Real Deals. Retrieved 2018-07-03.
  42. "Sun Capital to Sell Aclara Technologies for $1.1 Billion". Retrieved 2018-02-08.
  43. 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.
  44. "PAI Partners acquires Albéa from Sun Capital - PE Hub". PE Hub. 2018-03-29. Retrieved 2018-05-23.
  45. "Sun Capital closes $350M Demilec exit | PitchBook". Retrieved 2018-05-23.
  46. McNulty, John (November 14, 2019). "Sun Sells Horizon to New Mountain". Private Equity Professional. Retrieved December 6, 2019.
  47. "Boston Market Acquired by the Rohan Group of Companies". QSR magazine. Retrieved 2020-06-19.
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