PE Weekly: Healthcare Back in the M&A Spotlight
Healthcare-focused deals, plus a new healthcare-focused investment firm, bring the industry back into focus for dealmakers
Platform Investments
SK Capital Carves out LISI Group’s Medical division. SK Capital Partners, a private investment firm focused on specialty materials, ingredients, and life sciences, has completed its acquisition of the Medical division of LISI Group. Following the deal, SK Capital has launched a new platform, rebranding the business as Precera Medical and relocating it to Minnesota.
Apollo Completes Stream Data Centers Acquisition. Apollo announced this week its completed acquisition of Stream Data Centers, a developer and operator of hyperscale data center campuses. The transaction includes a minority acquisition in Stream Data Centers by Principal Asset Management, while SDS’s management team will also retain a minority stake in the business.
Gemspring Carves out Goodyear’s Polymer Chemicals Business. Gemspring Capital Management has completed its acquisition of the polymer chemicals business of The Goodyear Tire & Rubber Company. The transaction takes the company private.
TriArtisan Capital, Others Take Denny’s Private. A group of investors including TriArtisan Capital Advisors, Treville Capital Group, and Yadav Enterprises has taken restaurant chain Denny’s private in a deal valued at $620 million. TriArtisan has experience investing in full-service dining concepts, while Yadav is an existing Denny’s franchisee.
L Squared Invests in Ergo. L Squared Capital Partners announced this week its investment in Ergo, a geopolitical intelligence company for corporations, financial institutions, and government entities. The investment is L Squared’s fifth from its Fund IV.
Arsenal Capital Carves out ThermoSafe. Arsenal Capital Partners announced its completed acquisition of ThermoSafe, a temperature assurance technology solutions provider. Arsenal carved the business out from its previous parent company, publicly listed Sonoco Products Company.
NexPhase Capital Backs Always Best Care. NexPhase Capital announced its partnership with Always Best Care, a franchisor of in-home senior care services, this week. The company offers skilled home health services, non-medical personal care, and assisted living placement services.
BID Equity Acquires Cuseum. Private equity firm BID Equity has acquired Cuseum, a provider of visitor and member engagement software. BID Equity specializes in software and technology investments. Cuseum services cultural attractions, universities, and mission-driven organizations.
Add-Ons
One Equity’s Brown & Root Acquires Specialty Welding. One Equity Partners-backed Brown & Root Industrial Services has acquired Specialty Welding and Turnarounds (SWAT), according to a recent announcement. SWAT is a turnaround, cooling tower, and industrial catalyst services provider.
AVALT’s and VantEdge’s Wall Works Acquires C.I.D. Wall Works Holdings, a portfolio company of AVALT and VantEdge Partners, has acquired C.I.D. Construction. Wall Works is a wall and ceiling contractors’ platform. Acquiring C.I.D. expands Wall Works’ Optimum Building Systems, its New England regional hub.
ATL Partners- and BCI-Backed Valence Acquires Foresight Finishing. Valence Surface Technologies, an aerospace surface finishing platform backed by ATL Partners and British Columbia Investment Management Corporation (BCI), has acquired Foresight Finishing. The company provides precious metal surface treatment for highly engineered products in the aerospace and defense sector.
The Sterling Group’s Precision Concepts Acquires Comar. Precision Concepts International (PCI), a packaging solutions manufacturer, has acquired Comar, a consumer and healthcare packaging products producer. Precision Concepts is a portfolio company of The Sterling Group.
JLL Partners’ Vascular Technology Acquires Parks Medical. JLL Partners, a middle-market private equity firm, announced its acquisition of Parks Medical Electronics, a manufacturer of medical Doppler ultrasound systems. The firm is merging Parks with its existing portfolio company, Vascular Technology, to build a medical device company focused on vascular and robotics applications, a press release said.
MPE Partners’ Webster Acquires Renold. Webster Industries, a manufacturer of equipment for material handling and power transmission applications, has acquired Renold, a precision engineering product producer. Webster is a portfolio company of MPE Partners.
Insights
HealthBridge Innovation Partners Launches. Growth equity firm HealthBridge Innovation Partners announced its official launch to back growth-stage healthcare companies. The firm has partnered with MPowered Capital to support its debut as both a seed investor and a foundational partner, according to a press release.
DealLink.io Launches Deal Sourcing Platform. DealLink.io has launched its deal sourcing platform, connecting business buyers in the small business and lower-middle market to deal-ready acquisition targets. The platform lists businesses with a minimum of $500,000 EBITDA from more than 70 M&A firms, according to a press release provided to Middle Market Growth.
Middle Market Growth is produced by the Association for Corporate Growth. To learn more about the organization and how to become a member, visit www.acg.org.
