Private Equity Group Acquires Barjan Products
Monomoy Capital Partners LLC, New York, NY, has acquired Barjan Products LLC, a $140 million distributor of consumer products to travel centers, truck stops and convenience stores. Monomoy paid $20 million in cash and assumed liabilities.
In an unusual transaction structure, Monomoy acquired Barjan's assets directly from a syndicate of 13 banks led by General Electric Commercial Financial Services, Inc. through a foreclosure and sale of assets under Illinois state law.
Barjan has facilities in Rock Island and East Moline, IL, Reno, NV, and Atlanta, GA. The company manufactures, sources and distributes more than 8,000 individual products, including automotive accessories, chemicals and additives, consumer electronics, novelty products, books, videos, and music. Barjan ...