- Case Studies
Industry VerticalBusiness Services & Consumer
Evenflo Company, Inc.
Evenflo Company, Inc. (“Evenflo”) designed, manufactured and marketed a broad range of juvenile products including car seats, strollers, safety gates, activity centers and feeding products. Evenflo sold most of its products through five major retailers: Wal-Mart, Target, Babies R Us / Toys R Us, Kmart and Burlington Coat Factory (Baby Depot department).
In 2003, Harvest targeted the consumer products industry for investment, with a specific emphasis on companies with strong brands or channel positions. In January 2004, the prior owner began a sale process for Evenflo which was undergoing an operational turnaround. After an extended due diligence period, the Firm acquired Evenflo.
Harvest Partners Investment
In August 2004, Harvest purchased Evenflo with the existing management team. To fund the acquisition Harvest arranged the debt financing, which included a senior credit facility and a mezzanine note. In addition, Harvest arranged equity co-investment capital for the transaction.
- Strong brand and market leader
- Steadily growing industry
- Potential for significant profitability improvement
- Market share gains and enhanced brand equity
- Board-level initiative to improve profitability
- Strengthened the management team and Board of Directors
- Sold Evenflo in February 2007 to Weston Presidio.