Monomoy Capital Partners, a New York private equity fund, has signed a definitive agreement to sell its portfolio company Barjan, a distributor of consumer products to travel centres, truck stops and convenience stores, to TSC Global.
TSC Global specialises in the sales, marketing and distribution of consumer brand products to America’s top retailers, travel centres and truck stops.
Financial terms of the transaction were not disclosed.
“The sale of Barjan to TSC is a great example of the Monomoy investment strategy,” says Daniel Collin, partner at Monomoy Capital and chairman of the board of Barjan. “We acquired a distressed market leader through a complicated restructuring, substantially improved the business despite the recession and positioned Barjan for future growth under TSC ownership. We would like to thank the management and employees of Barjan for their hard work and dedication throughout this process.”
Under Monomoy’s ownership, Barjan more than doubled the productivity of its distribution centre, consolidated several facilities, completed two add-on acquisitions, and established a wholly-owned sourcing division in Shenzhen, China.
John Wiesehan, chief executive officer of TSC, says: “We are extremely excited to welcome the employees and operations of Barjan to the TSC family. The combination of TSC’s unmatched product portfolio and commitment to customer service and Barjan’s best-in-class distribution ability will allow TSC to provide its customers with the strongest value proposition in the industry.”
