M&A Deal Summary

AEA Investors Acquires Numotion

On November 13, 2018, private equity firm AEA Investors acquired medical products company Numotion from LLR Partners and Audax Private Equity

Acquisition Highlights
  • This is AEA Investors’ 2nd transaction in the Medical Products sector.
  • This is AEA Investors’ 75th transaction in the United States.
  • This is AEA Investors’ 3rd transaction in Missouri.

M&A Deal Summary
Date 2018-11-13
Target Numotion
Sector Medical Products
Buyer(s) AEA Investors
Sellers(s) LLR Partners
Audax Private Equity
Deal Type Secondary Buyout
Advisor(s) Harris Williams & Co. (Financial)

Target

Numotion

Hazelwood, Missouri, United States
website
Numotion is a provider of complex rehabilitation products, including custom power and manual wheelchairs for disabled adults and children. Numotion was founded in 2001 and is based in Hazelwood, Missouri.

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Buyer(S) 1

Buyer

AEA Investors

New York, New York, United States

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 1968
PE ASSETS 17.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

AEA Investors is a private investment firm focused on investing in and acquiring businesses headquartered primarily in the US, Europe, and China. AEA looks for companies operating in stable to growing industries with a proven ability to generate positive cash-flow. Broad sectors of interest include value-added industrial products/services, specialty chemicals, consumer products, and services. In addition to its primary middle-market private equity fund, AEA maintains additional funds targeted towards mezzanine financing, senior secured debt, and small business buyouts. AEA Investors was formed in 1968 and is based in New York City.

DEAL STATS #
Overall 87 of 114
Sector (Medical Products) 2 of 2
Type (Secondary Buyout) 39 of 53
State (Missouri) 3 of 3
Country (United States) 75 of 99
Year (2018) 4 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-08-28 Aramsco

Paulsboro, New Jersey, United States

Aramsco is a distributor of products, equipment, and services to specialty contractors in North America. The Company carries more than 30,000 different products ranging from personal protective equipment to specialty chemicals and equipment. Aramsco complements this product offering with a suite of value-added services such as equipment repair, rental, and training. Aramsco was founded in 1966 and is based in Paulsboro, New Jersey.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-11-14 Colony Hardware

Orange, Connecticut, United States

Colony Hardware is a distributor of safety equipment, power tools, and other small-ticket job site essentials to multiple trades of contractors serving the commercial construction and public infrastructure construction markets. Colony Hardware was founded in 1988 and is based in Orange, Connecticut.

Sell -

Seller(S) 2

SELLER

LLR Partners

Philadelphia, Pennsylvania, United States

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 1999
PE ASSETS 3.5B USD
Size Large
Type Sector Agnostic
DESCRIPTION

LLR is a private equity firm that makes growth capital, buyout, and recapitalization investments in mid-sized growth companies with sustainable competitive advantages. LLR looks to invest $15 to $100 million per transaction and will consider both control and minority situations. Target companies generally have at least $10 million in annual sales and are valued up to $250 million. Broad industry sectors of interest include general business services, financial services, healthcare services, education, manufacturing, consumer/retail and information technology/software. LLR will consider investments throughout the US with an emphasis on opportunities located in the Eastern and Mid-Atlantic regions of the US. LLR Partners was formed in 1999 and is based in Philadelphia, Pennsylvania.

DEAL STATS #
Overall 46 of 69
Sector (Medical Products) 2 of 2
Type (Secondary Buyout) 8 of 14
State (Missouri) 1 of 1
Country (United States) 45 of 68
Year (2018) 3 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-11-01 Edmunds GovTech

Northfield, New Jersey, United States

Edmunds GovTech provides fully-integrated software solutions designed specifically for local governments that are easy-to-use and feature-rich at a reasonable price. The company works with more than 850 government agencies across 13 states and offers both hosted or on-premise ERP applications as well as real-time mobile applications and self-service portals. Edmunds GovTech was founded in 1972 and is based in Northfield, New Jersey.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-11-19 Ultimus Fund Solutions

Cincinnati, Ohio, United States

Ultimus Fund Solutions is an independent provider of fund accounting, fund administration, distribution, transfer agent and shareholder services to the mutual fund industry. The company's broad range of services is offered to both open-end and closed-end funds. Ultimus Fund Solutions is based in Cincinnati, Ohio.

Sell -
SELLER

Audax Private Equity

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 1999
PE ASSETS 16.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Audax Private Equity is a private equity firm focused on acquiring control positions in a variety of mid to large North American headquartered companies. The Firm segments its activities into lower middle-market and larger scale investing. Within its larger group, Audax targets profitable businesses valued up to $800 million and within its lower middle-market group, the Firm seeks companies valued up to $125 million. Sectors of interest include business services, consumer products/services, financial services, healthcare services, industrial services, software, and technology. Audax has a special interest in businesses that can benefit from a buy and build investment strategy for growth. Audax Private Equity was formed in 1999 and is based in Boston, Massachusetts.

DEAL STATS #
Overall 66 of 97
Sector (Medical Products) 4 of 6
Type (Secondary Buyout) 35 of 53
State (Missouri) 2 of 2
Country (United States) 64 of 92
Year (2018) 8 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-10-26 Andrews International

Valencia, California, United States

Andrews International is a provider of private security and risk mitigation services to the entertainment, high-end retail, financial services, commercial property management, and education verticals.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-11-14 Colony Hardware

Orange, Connecticut, United States

Colony Hardware is a distributor of safety equipment, power tools, and other small-ticket job site essentials to multiple trades of contractors serving the commercial construction and public infrastructure construction markets. Colony Hardware was founded in 1988 and is based in Orange, Connecticut.

Buy -
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