Quick answer: three lower-middle-market acquisitions with a disclosed price were announced or closed in Week 36 (August 31 to September 3, 2026) — HF Foods Group’s CAD$47.9M (about US$35.0M) purchase of Canadian frozen-seafood distributor Searay, Ilkka Oyj’s EUR 12M enterprise-value purchase of Finnish SaaS company Custobar, and a $30M carve-out of Myers Tire Supply from Myers Industries.
Each deal was read in the company’s own press release or SEC filing. Prices are the figures the sources state, in the source’s own currency, and anything we calculated is marked as ours. Only deals with a disclosed price between roughly $10M and $100M are included.
| Acquirer | Target | Deal size | Announced | Type |
|---|---|---|---|---|
| HF Foods Group | Searay Foods | CAD$47.9M (~US$35.0M) | Sep 3, 2026 | Strategic |
| Lion Equity Partners (per trade press) | Myers Tire Supply | $30M | Aug 31, 2026 | Private equity |
| Ilkka Oyj | Custobar | EUR 12M enterprise value | Aug 31, 2026 | Strategic |
3 acquisitions from Week 36
Deal
HF Foods Group Inc. (NASDAQ: HFFG) → Searay Foods Inc. and related entities
- Price
- About CAD$47.9M (about US$35.0M) base price, plus contingent consideration based on future performance
- Status
- Closed · Sep 3, 2026
- Sector
- Frozen seafood import and distribution · Canada
Searay, founded in 2000 and based in Richmond, British Columbia, imports and distributes ethnic and specialty frozen seafood. It sources from more than 80 suppliers and sells through six proprietary brands, including Searay Foods, Thai Best and Pinoy’s Best. Part of the price is paid in HF Foods stock, so the dollar value moves with the share price.
- Multiple: about 5.0x Searay's 2025 Adjusted EBITDA, per HF Foods
- Payment: CAD$38.4M (about US$27.8M) in cash plus 1.7M HF Foods shares priced at US$4.00 each
- Stake: 100% of the issued and outstanding equity
- Management: Searay's team, led by incoming CEO Derick Ngan, stays to run it as an HF Foods subsidiary
- First for the buyer: HF Foods calls it its first international expansion
- Not disclosed: sellers, Searay's revenue and profit in dollars, and the contingent-payment terms
Deal
TAPS Holdings, LLC per the SEC filing; Lion Equity Partners per trade press → Myers Tire Supply, LLC (North America tire-supply distribution, from Myers Industries)
- Price
- $30,000,000, subject to customary post-closing adjustments for cash, debt, working capital and expenses
- Status
- Closed · Aug 31, 2026 · reported Sep 3
- Sector
- Tire, wheel and under-vehicle service supplies and equipment · United States
Per PE Professional, Myers Tire Supply is based in Akron, Ohio, has 233 employees and sells about 30,000 products to tire shops, from valve stems and wheel weights to tire changers and balancers. The sale follows a strategic review Myers Industries opened in July 2025, per the same report.
- Seller: Myers Industries (NYSE: MYE), a carve-out of a division it had owned since 1933 per PE Professional
- Structure: purchase of all membership interests; the buyer took out buyer-side representation and warranty insurance at its own expense
- Non-compete: Myers Industries agreed to 36 months of non-competition, excluding its retained international and Patch Rubber operations
- Who the buyer is: the 8-K names the buyer only as TAPS Holdings, LLC; PE Professional reports it as Lion Equity Partners
- Not disclosed in the filing: the division's revenue, profit and the multiple
Deal
Ilkka Oyj → Custobar Oy
- Price
- EUR 12 million debt-free enterprise value for 100% of the shares, paid in cash at closing
- Status
- Closed · Aug 31, 2026
- Sector
- Customer data platform and marketing automation (SaaS) · Finland
Custobar was founded in 2014 and sells a customer data platform and automation tool to retailers, with more than 70 integrations into retail systems. It serves Finland, the DACH region, the Baltics, the Nordics and Benelux. We read the release’s text on a copy hosted by Inderes, because the original page blocked automated access.
- Financing: cash reserves and debt financing
- Target financials: 2025 revenue of EUR 5.3M (EUR 4.6M in 2024) and EBITDA of EUR 0.6M (EUR 0.3M); January to July 2026 revenue of EUR 3.2M and EBITDA of EUR 0.4M
- Our arithmetic: EUR 12M is about 20x 2025 EBITDA and about 2.3x 2025 revenue
- Customers: about 200 business customers, over 90% of revenue recurring, about 30% of revenue international, 20 employees
- Effect on the buyer: Ilkka estimates about EUR 2M added to its 2026 revenue
- Not disclosed: sellers
Buyer spotlights
Buyer Spotlight
HF Foods Group
Strategic · NASDAQ: HFFG
HF Foods, based in Las Vegas, describes itself as a marketer and distributor of fresh produce, frozen and dry food and non-food products, mainly to Asian restaurants across the United States and Canada. The Searay deal gives it a Canadian platform and a larger seafood category, and it expects the deal to be immediately accretive to margins and earnings per share, which is the company’s own claim. It paid about 5.0x Searay’s 2025 Adjusted EBITDA, part in stock and part in cash, and kept Searay’s management in place.
Buyer Spotlight
Ilkka Oyj
Strategic · Finnish marketing and technology group
Ilkka says its goal is to be a leading technology, data and marketing player in Northern Europe, and Custobar goes into its Data and Technology business area. Its existing marketing-automation strength is mainly in B2B, and Custobar adds a customer data platform aimed at consumer-facing retailers. The price was high for the earnings it buys, about 20x 2025 EBITDA by our arithmetic, so the case rests on the growth the release describes: over 90% recurring revenue and faster international growth than at home.
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