M&A daily wrap: BDT, Casa Dragones, Brightstar, Baird
BDT Capital Partners is taking a majority stake in luxury tequila producer Casa Dragones. Under the leadership of co-founder and CEO Bertha González Nieves, Casa Dragones helped spearhead the ultra-premium “sipping tequila” trend in the U.S. The partnership with BDT, which is the firm’s first investment in the spirits category, will help the target expand research and development efforts and help the company further advance its modern, sustainable production process which is a core element of its business. “We are impressed with Bertha’s entrepreneurial spirit and the quality of the Casa Dragones product and brand,” says BDT Capital Partners CEO Byron Trott. “We believe our investment in the company represents an opportunity to partner with a visionary founder in an attractive industry and category. We look forward to working closely with the team at Casa Dragones to build upon that strength and momentum of the business and help expand their reach both domestically and internationally.”
Brightstar Capital Partners recently closed its inaugural fund at $710 million, and we asked managing partner Andrew Weinberg to tell us more about the firm’s investment thesis and the opportunities he sees for M&A this year. “The timing of our close takes place against the backdrop of what will most likely be the greatest generational transfer of wealth ever seen to date,” Weinberg says. New York-based Brightstar, which invests up to $250 million in businesses, has already invested in two portfolio companies: logistics technology provider Global Resale and water supplier Texas Water Supply Co. Read the full Q&A here.
We imagine many M&A pros watched as Patrick Reed won the Masters Tournament, fending off fourth-round challenges from Rickie Fowler and Jordan Spieth. It's the first major title for Reed, who scored the coveted green jacket from the Augusta National Golf Club. Meanwhile Tiger Woods played well enough to move into the top 100 in the world for the first time in three years. The golf course offers a great venue for dealmakers to get to know each other in a relaxed setting. And the sport has spawned its own share of deals in the middle market. We figure this is a great moment to take a look at some of the recent transactions involving popular golf brands, such as Callaway and TaylorMade. Check out our slideshow.
Brett Skolnik has joined the global investment banking group of employee-owned financial services firm Baird as a managing director on the global healthcare team. Based in New York, Skolnik is covering healthcare facilities and alternate site providers, with a focus on multi-site physician and other provider groups, behavioral health and post-acute care. He joins Baird from BMO Capital Markets, where he served as managing director, responsible for the firm’s healthcare M&A practice. Prior to BMO, Skolnik served as CFO of a private specialty pharmaceutical company and held healthcare and M&A related investment banking positions at Piper Jaffray, Cowen, PaineWebber and Kidder, Peabody & Co.
For more new hires, promotions and other dealmaker career news, including Alvarez & Marsal's hiring Debra Richman as healthcare managing director and Karin Kovacic's joining the origination team as a managing director at Monroe Capital, read People Moves.
Catch up on recent transactions, including deals made by Francisco Partners, NYSE and Smucker, in The weekly wrap.
See which private equity firms are raising funds, including Audax Senior Loan and Comvest, in our weekly PE fundraising scorecard.
Read full coverage of Mergers & Acquisitions' 11th annual M&A Mid-Market Award winners: Campbell Soup, Huron Capital, Idera CEO Randy Jacops, LLR Partners, McGuireWoods, Stryker, Twin Brook and William Blair.