Industry Vertical
Business Services & Consumer
Vandalia, OH

Evenflo Company, Inc.

  • Business

    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).

  • Situation

    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.

  • Investment Thesis

    • Strong brand and market leader
    • Steadily growing industry
    • Potential for significant profitability improvement
  • Value Creation

    • Market share gains and enhanced brand equity
    • Board-level initiative to improve profitability
    • Strengthened the management team and Board of Directors
  • Outcome

    • Sold Evenflo in February 2007 to Weston Presidio.