Market Day Corporation

Status: Past
Initial Investment: September 2003
Location: Itasca, IL
Investment Type: Management Buyout
Investment Industry: Distribution

Market Day enables parents and neighbors to purchase restaurant-quality food products through schools while contributing a portion of every purchase to the child’s school. Market Day serves as the primary fundraising source for over 5,400 schools in 16 states and has raised over $330 million for education since 1975. In September 2003, Market Day was a company in transition and its CEO was seeking a financial partner to help finance a management buyout of the company, raise needed capital for growth, and provide liquidity to shareholders who wanted to exit the business. The recapitalization and management buyout of Market Day provided the owners with significant liquidity and a financial partner to provide capital for acquisitions and internal growth. Additionally, by providing capital to expand beyond its current Midwestern presence, the transition positioned Market Day to assist schools and youth organizations on a broader geographic basis. In April 2005, less than 20 months from the initial recapitalization and management buyout initiated by Harvey & Company, management, and the rest of the Market Day’s shareholders took a sizable dividend made possible by the substantially improved earnings at the company.

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