Financing for the Acquisition of Craig Electronics

Consumer
Financing for the Acquisition of Craig Electronics

Summary

Baird served as financial advisor to H2 Brands Group on this transaction

About

H2 Brands Group (“H2 Brands” or the “Company”), a portfolio company of Nova Capital Management Limited (“Nova”), recently completed a secured debt financing (the “Financing”) in support of its acquisition of Craig Electronics (“Craig”). The Financing consisted of a senior secured term loan and revolving credit facility.

H2 Brands, comprised of Bulldog, Shur-Line and World and Main, is a leading provider of do-it-yourself home improvement hardware and paint accessories. The Company’s branded and private label products are sold through regional and national retailers, independent hardware stores and dollar stores. H2 Brands serves its national customer base through locations in New Jersey, Wisconsin, Illinois, Arkansas, Canada and China. H2 Brands is based in Cranbury, New Jersey.

Nova is a pioneer in portfolio buy-outs, specializing in acquiring multiple businesses in a single transaction from corporate or financial sellers. Since its foundation in 2002, Nova has executed international transactions with a value of over $1.7bn from offices in Chicago and London. Nova acquired both Shur-Line and Bulldog in 2013 as part of a portfolio of hardware businesses acquired from Newell in a $220m+ transaction. Nova acquired World and Main brands in 2018. Since then Nova has helped transform the three companies through the recruitment of new management teams, increased investment in sales, marketing and NPD resources and now through the acquisition of Craig Electronics. Nova has offices in London, the United Kingdom and Chicago, Illinois.

Craig Electronics is a leading consumer electronics innovator that offers a complete one-stop consumer technology and electronics solution for national big box, food and drug, club and mass retail distribution. Craig conducts business under a portfolio of brands which includes Craig and Magnavox, as well as multiple private label relationships. Craig is based in Miami, Florida.
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Consumer
Financing for the Acquisition of Craig Electronics
Date
October 2019
Company
H2 Brands Group
Transaction
M&A
Sectors
Consumer
Target Location
North America
Acquiror Location
North America

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