Worldwise Holdings, Inc. Has Been Acquired by Mistral Equity Partners, LLC
HOUSTON, May 5, 2011 — GulfStar Group is pleased to announce the sale of Worldwise Holdings, Inc. ("Worldwise" or the "Company"), a portfolio company of The CapStreet Group, LLC ("CapStreet"), to Mistral Equity Partners, LLC ("Mistral"). GulfStar Group served as the exclusive financial advisor to Worldwise and CapStreet on the transaction, which closed on April 29, 2011.
Worldwise, headquartered in San Rafael, Calif., is the leading supplier of highly innovative, environmentally friendly dog and cat-focused products including beds, toys, scratchers, treats and litter accessories. The Company's products are developed primarily from natural, certified organic, reclaimed or recycled materials and are sold through major retailers including, Walmart, Target, PetSmart, PETCO and Dollar General, in more than 30,000 stores.
The GulfStar transaction team included: Managing Directors Scott Winship, Kent Kahle, and Colt Luedde and Senior Vice President Joe Watt. Scott Winship said, "We are very pleased with the outcome of this strategic process as it pairs the exceptional management team at Worldwise with a progressive and supportive long-term partner in Mistral. The shared vision and operating philosophies of the combined group bodes very well for strong continued core growth at Worldwise, as well as an accelerated approach into other logical and adjacent categories within the broader pet products sector."
About Mistral Equity Partners
Mistral Equity Partners is a private equity firm comprised of highly experienced investment professionals and seasoned industry executives. The firm specializes in the consumer and media sectors and is especially attracted to businesses that are supported by strong demographic trends and fundamental changes in consumer preferences. Its principals have a long history of working together and identifying successful investment opportunities with these characteristics. Mistral seeks to generate long-term capital appreciation by purchasing equity securities (and other securities providing equity-like returns) in leveraged acquisitions, build-ups, recapitalizations, restructurings, and pre-IPO growth financings. Mistral primarily invests in North American companies with enterprise values between $100 million and $300 million. The Mistral transaction team was led by Andrew Heyer, Robert Fioretti, Jeffrey Ginsberg and Elizabeth Nations.
About The CapStreet Group
Founded in 1990, The CapStreet Group focuses on control investments in family-owned and other privately-held businesses headquartered in Texas and the Sunbelt states. Since inception, the firm has invested over $450 million in 29 portfolio company investments and has completed more than 250 add-on acquisitions for these companies. CapStreet exclusively invests in leveraged buyouts and recapitalizations and works intensively with the management of these companies to improve profitability and then to accelerate growth organically through accretive acquisitions. CapStreet targets companies with an initial EBITDA between $5 million and $15 million operating in the following investment sectors: value-added manufacturing and distribution, business services, infrastructure and energy-related products and services. The firm is headquartered in Houston, Texas, and managed by George Kelly, Mike Young, Neil Kallmeyer, Kathy Kohlmeyer, Paul De Lisi and Park Durrett.
GulfStar Group is a leading middle market investment and merchant bank headquartered in Houston, Texas. The firm specializes in providing merger and acquisition advisory services, institutional private placements of equity and debt, restructuring and turnaround advisory services and general corporate finance advisory services to companies with revenues or enterprise values generally ranging from $25 million to $350 million. Since its formation in 1990, GulfStar has completed more than 475 assignments across a variety of industries. Through its merchant banking affiliate the firm also makes equity and subordinated debt co-investments.
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