Consumer Products Acquisitions in Illinois

Affiliates of 26North Partners LP acquired a controlling interest in The Middleby Corporation’s Residential Kitchen business, with Middleby retaining a significant non‑controlling stake through a joint venture. The business has been rebranded as Composition Brands and will operate as an independent platform housing premium and ultra‑luxury residential kitchen and outdoor living brands including Viking, AGA, Rangemaster, La Cornue, Lynx and U-Line.

TSG Consumer Partners has made a strategic growth investment in DUDE Wipes, with DUDE Wipes founders Sean Riley, Jeff Klimkowski and Ryan Meegan retaining significant ownership and remaining in their executive roles. Mark Cuban will remain an investor; the capital will be used to broaden household adoption, reach new consumer segments, and deepen manufacturing and retail partnerships. Financial terms were not disclosed.

Accel Entertainment, Inc. acquired Fairmount Holdings, owner of the FanDuel Sportsbook & Racetrack in Collinsville, Illinois, for approximately 3.45 million shares of Accel Class A-1 common stock. The deal adds a single-site racetrack, three OTB locations, a master sports betting license (in partnership with FanDuel) and a legislatively authorized casino development opportunity to expand Accel's locals gaming footprint.

Turnspire Capital Partners, through an affiliate, has acquired GHP Group Inc., a Niles, Illinois–based designer and supplier of outdoor living and indoor heating consumer products (brands include Dyna-Glo, Bond, Pleasant Hearth and Vitapur). Turnspire said it will support GHP with operational improvements, new product development and organic growth initiatives. Wilkie Farr & Gallagher acted as legal counsel and William Blair served as financial advisor to Turnspire.

Hydrow and its investors (including Constitution Capital and L Catterton) acquired a majority stake in Speede Fitness to integrate Speede's high-tech strength training equipment, AI analytics, and data capabilities into Hydrow's connected fitness platform. Hydrow retains an option to acquire the remainder of Speede and says the deal expands its product lineup toward whole-body strength and aerobic modalities.

Monogram Capital Partners, a Los Angeles-based private equity firm, has acquired a majority stake in Tru Fragrance & Beauty, a Willowbrook, Illinois–based beauty brand builder. The investment will be used to accelerate Tru's growth and scale — expanding distribution in the U.S., Canada, the U.K., Europe, launching new brands and licensing relationships, and pursuing complementary acquisitions.

Firelight Capital Partners has acquired Fromm International, the century-old maker of hair tools and accessories (brands include Fromm Pro, The Hair Edit and Diane). The Simon-Johnson family sold the business but will retain a minority stake; Firelight named Martin L. Okner CEO and plans to use the company as its platform investment in the beauty sector to accelerate retail distribution and pursue growth and M&A.

Midwest Trading Group (MTG), a private-equity-backed consumer electronics distributor based in Chicago, has acquired TYLT, a mobile phone accessories brand known for wireless chargers, portable power and MagSafe-compatible products. The deal expands MTG’s product portfolio and distribution capabilities, enabling increased inventory capacity, wider customer reach and continued support for TYLT’s product development and customer service.

An affiliate of Centre Lane Partners completed the acquisition of the Appliances Division of Instant Brands on November 8, 2023, acquiring the maker of the Instant Pot out of Instant Brands' Chapter 11 process. The transaction, financed by MidCap Financial and advised by Jones Day, provides a recapitalization for the division and positions Instant Brands Appliances (headquartered in Downers Grove, Illinois) for product and growth initiatives under Centre Lane ownership.

Gryphon Investors, a San Francisco-based private equity firm, has acquired Vetnique Labs, a Naperville, Illinois-based pet health and wellness company. Gryphon will partner with founder and CEO James Bascharon (who will remain in role and retain a significant stake) to expand Vetnique’s product portfolio and geographic reach; financial terms were not disclosed.

Blue Point Capital Partners has recapitalized Europa Eyewear, a family-owned designer and manufacturer of proprietary eyewear frames serving the independent eyecare provider market. The investment partners with Europa management to support growth, expand product offerings, leverage Europa's U.S. manufacturing footprint in Illinois, and establish a platform for future M&A.

Ad Populum, LLC has acquired Enesco, LLC from Balmoral Funds LLC; financial terms were not disclosed. Enesco, headquartered in Itasca, Illinois, is a long-established designer and wholesaler of gifts, home accents and collectibles (Department 56, Jim Shore, licensed brands) with an international distribution and e-commerce presence. The acquisition adds Enesco's brands and distribution capabilities to Ad Populum's portfolio of consumer and collectibles businesses.

Worldwise, a pet supplies platform backed by A&M Capital Partners, has acquired Pet Factory, a U.S.-based manufacturer of pet chews, treats, toys and accessories headquartered in Mundelein, Illinois. The acquisition expands Worldwise's chew and treat capabilities, adds domestic manufacturing and co-manufacturing capacity, and continues the platform's recent run of add-on deals.

Kering Eyewear has signed an agreement to acquire Maui Jim, the high-end U.S. sunglasses brand known for its PolarizedPlus2 lens technology. The acquisition strengthens Kering Eyewear's premium portfolio, expands Maui Jim's geographic footprint and is expected to close pending regulatory approvals in H2 2022.

A group led by Rock Mountain Capital and The Olayan Group acquired a 48% stake in PurposeBuilt Brands, with the proceeds used to redeem Carlyle's position. TA Associates and PurposeBuilt management rolled all of their equity and will retain a 52% ownership stake as partners with the new investors to support the company's continued growth and international expansion.

Indianapolis-based private equity firm CID Capital has partnered with LumiSource, a designer and supplier of home décor and furnishings based in Elk Grove Village, Illinois, in a recapitalization. Stifel Bank provided senior financing while Northstar Capital provided subordinated debt and an equity co-investment to support the transaction; terms were not disclosed.

Adventure Ready Brands has acquired LuminAID, a maker of solar-powered lighting and charging solutions for outdoor and emergency use. The acquisition (closed Nov. 19, 2021) expands Adventure Ready Brands' portfolio of consumer outdoor and emergency-preparedness products and aims to scale LuminAID's humanitarian mission and global reach.

Phunware, Inc. has executed a definitive agreement to acquire Lyte Technology in a transaction valuing up to $10.32 million in cash and stock (approximately $3.32M cash at closing with the remainder subject to time- and performance-based earnouts). The acquisition brings Lyte’s custom high-end computer systems business, team and distribution network into Phunware to support its blockchain initiatives and scale device-based infrastructure.

Old World Industries has sold its Herculiner bed liner brand and product line to J-B Weld Company, LLC, with Angle Advisors acting as Old World's advisor. The deal expands J-B Weld's consumer DIY and automotive aftermarket product offering and increases its shelf presence across automotive, hardware, home improvement and big-box retailers in North America.

TZP Group led a recapitalization of Quintessential Tots, LLC d/b/a Itzy Ritzy, taking a majority stake to support product development and accelerate growth while co-founders Kelly Meyer Douglas and Brian Douglas remain significant shareholders. TZP will provide strategic and financial resources to expand Itzy Ritzy's omni-channel juvenile products business across retail and direct-to-consumer channels.

Gridiron Capital portfolio company Good Sportsman Marketing Outdoors (GSM Outdoors) has acquired the hunting accessories and archery brands formerly owned by Plano Synergy from Pure Fishing. The deal adds ten well-known hunting and archery brands (including Wildgame Innovations, Ameristep, Tenzing and Barnett) to GSM Outdoors' consumer products portfolio as an add-on to support product and channel expansion; terms were not disclosed.

Palladin Consumer Retail Partners has made a growth investment in Leapfrog Brands, a Chicago-based designer and provider of beverageware and food storage products (brands include Ello, Zulu and Pogo). The partnership will provide Leapfrog with capital and operating support to build infrastructure and accelerate growth; management and operations will remain unchanged and KeyBank provided debt financing for the transaction.

Bemis Manufacturing Company acquired Bio Bidet, a Crystal Lake, Illinois-based maker of bidet and smart toilet seats, effective December 29, 2020. The acquisition expands Bemis’s product portfolio and engineering capabilities in bidet and smart toilet-seat technology while leveraging Bemis’s distribution and market penetration to grow the bidet category.

Gridiron Capital has made a growth investment in Cubii, a Chicago-based direct-to-consumer maker of compact seated ellipticals and connected wellness products. The founders and management will remain significant owners while Gridiron will support expansion into new channels, product categories and digital/analytics capabilities to accelerate growth.

Lil' Drug Stores (Lil' Drug Store Products) has acquired Mechanical Servants LLC (dba Convenience Valet) from Weinberg Capital Group. The transaction combines two leading convenience/travel-size product distributors to expand scale, category management capabilities and customer reach across convenience, travel and hospitality channels; financial terms were not disclosed.

Limitless Venture Group, Inc. (LVGI) has executed a term sheet to acquire a majority ownership stake in KetoSports, Inc., a pioneer in exogenous ketone supplements. The deal is intended to give LVGI immediate revenue and expand its presence in the ketogenic/sports-nutrition market; closing is subject to LVGI raising required capital under its ongoing Reg A offering.

Goods iQ has acquired It's Academic, Inc., adding more than 130 products and multiple consumer brands to its office and academic products division. The deal expands Goods iQ's product portfolio and leverages its manufacturing, sales and distribution capabilities to strengthen presence in mass retail and back-to-school markets.

The Carlyle Group and TA Associates have acquired WU Holdco, Inc. (Weiman Products) from Cortec Group Fund V, L.P.; terms were not disclosed. Carlyle, TA and company management plan to support continued organic growth and pursue strategic M&A to expand Weiman's specialty consumer and commercial cleaning products business.

GSM Outdoors, a portfolio company of Sentinel Capital Partners, has acquired New Archery Products, LLC (NAP) from Bruckmann, Rosser, Sherrill & Co. Cleary Gull acted as exclusive financial advisor to NAP; the deal expands GSM's multi-brand hunting and archery product portfolio and complements its existing capabilities in the outdoor and shooting sports market.