Sun Capital Partners can be a ray of sunshine for flourishing (or struggling) companies. The private investment firm specializes in making leveraged buyouts and equity and debt investments. It also acquires interests in bankrupt or underperforming firms. After acquisition, Sun Capital provides operating advice and additional capital to its portfolio companies. It typically targets firms with $50 million to $500 million in annual sales. It does not rule out any industry when considering investments, but is partial to specialty manufacturers, retailers, restaurants, and apparel, technology, telecommunications, and home furnishing companies. Sun Capital has more than $10 billion of capital under management.
Based in sunny Florida, Sun Capital Partners is a global investor. Beyond the US, Sun Capital has offices in London, Frankfurt, Paris, Luxembourg, Shanghai, and Shenzhen. Affiliate Sun European Partners invests in companies throughout Europe, targeting firms with €40 million to €4 billion (between $55 million and $5.5 billion) in annual sales.
Sun Capital's acquisition and investment targets include private businesses, divisions of larger companies, and publicly-traded companies. The firm focuses on middle-market growth companies that can benefit from its operational resources. The private equity firm prides itself on closing deals within 30 days, relatively quickly by private equity standards.
Sun invests in several sectors, including paper and packaging, food and beverages, metals and mining, automotive parts, consumer products, financial services, healthcare, media and communications, building products, telecommunications, technology, retailing and e-commerce, restaurants, and manufacturing and industrial, among others. While many of the firm's transactions are with businesses with sales between $50 million and $500 million, Sun targets firms with up to $3 billion or more in revenues.
Mergers and Acquisitions
Through its affiliate Trulite Glass & Aluminum Solutions, one of North America’s largest architectural glass and aluminum fabricators, Sun Capital in 2013 acquired Western States Glass Corporation of Northern California (WSG), a glass fabricator and distributor.
It also cashed out of its investment in Harry’s Fresh Foods by selling the business to Joshua Green Corporation through its food-focused subsidiary, JGC Foods LLC , and Sunrise Growers-Frozsun Foods, a leading supplier of frozen strawberry products as well as a distributor and marketer of fresh strawberries.
Sun Capital has invested in more than 335 companies since it was founded in 1995, with combined sales of more than $45 billion. Recent purchases include Missouri-based Aclara Technologies LLC, a supplier of "smart" meters to electric, gas, and water utilities in the US, from ESCO Technologies in March 2014. Overall, its current portfolio consists of interests in more than 70 firms. Holdings include bath and kitchen products maker American Standard Brands, Hickory Farms, and retailers Pamida, ShopKo Stores, and Marsh Supermarkets. Sun Capital also has several restaurant chains within its portfolio. Among them are Boston Market, Fazoli's, Garden Fresh, and Restaurants Unlimited.