M&A Deal Summary

Audax Private Equity and Linden Capital Partners Acquire GCX

On September 20, 2021, private equity firms Audax Private Equity and Linden Capital Partners acquired medical products company GCX

Acquisition Highlights
  • This is Audax Private Equity’s 9th and Linden Capital Partners’ 12th transaction in the Medical Products sector.
  • This is Audax Private Equity’s 134th and Linden Capital Partners’ 42nd transaction in the United States.
  • This is Audax Private Equity’s 12th and Linden Capital Partners’ 5th transaction in California.

M&A Deal Summary
Date 2021-09-20
Target GCX
Sector Medical Products
Buyer(s) Audax Private Equity
Linden Capital Partners
Deal Type Buyout (LBO, MBO, MBI)
Advisor(s) William Blair (Financial)
Orrick (Legal)

Target

GCX

Petaluma, California, United States
website
GCX is a global designer and manufacturer of healthcare-focused mounting and mobility solutions with offices in North America, Europe, Japan, and Taiwan. GCX’s products are engineered for reliability and quality, and include wall mounts, roll stands, carts, and a variety of mounting accessories. It partners with medical device OEMs and hospitals to create products that enable caregivers to deliver the highest quality of patient care. GCX was founded in 1971 and is based in Petaluma, California.

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Buyer(S) 2

Buyer

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 139 of 153
Sector (Medical Products) 9 of 9
Type (Buyout (LBO, MBO, MBI)) 39 of 41
State (California) 12 of 13
Country (United States) 134 of 145
Year (2021) 8 of 9
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-08-23 Covercraft

Pauls Valley, Oklahoma, United States

Covercraft is a manufacturer of custom-patterned vehicle covers, with a library that includes more than 80,000 distinct automotive patterns. Additional product lines include custom front and rear seat protectors, front-end masks, dashboard covers, floor mats, window heat shields, and pet protection products, among others. Covercraft was founded in 1965 and is based in Pauls Valley, Oklahoma.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-11-18 Acuant

Los Angeles, California, United States

Acuant is a provider of identity verification solutions including a digital identity orchestration layer, ID document, and chip authentication, bio-metric, and data capture solutions. Acuant was founded in 1999 and is based in Los Angeles, California.

Sell $736M
Buyer

Linden Capital Partners

Chicago, Illinois, United States

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 2004
PE ASSETS 3.0B USD
Size Large
Type Sector Focused
DESCRIPTION

Linden LLC is a private equity firm that invests in businesses involved in the healthcare and life science sectors. However, the firm also executes any size private equity transaction between $10 million to $2 billion through the firm's alliance with Madison Dearborn Partners. Linden is not a venture capital investor. The firm specializes in investments in non-core businesses owned by large corporations, as well as traditional management buyouts of independent companies. Linden LLC was formed in 2004 and is based in Chicago, Illinois.

DEAL STATS #
Overall 42 of 48
Sector (Medical Products) 12 of 12
Type (Buyout (LBO, MBO, MBI)) 13 of 13
State (California) 5 of 5
Country (United States) 42 of 47
Year (2021) 5 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-08-24 BioIVT

Hicksville, New York, United States

BioIVT is a provider of biological products to life sciences and pharmaceutical companies. BioIVT specializes in control and disease state matrices manufactured from human and animal blood, plasma, serum, tissues, and other fluids which are used in drug discovery, compound development, clinical and research diagnostics. BioIVT was founded in 1981 and is based in Hicksville, New York.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-09-28 Formulated Solutions

Largo, Florida, United States

Formulated Solutions specializes in innovating, formulating, and packaging solutions for pharmaceutical, cosmetic, personal healthcare, and specialty chemical applications. Formulated Solutions was founded in 1999 and is based in Largo, Florida.

Buy -
Mergr

Product

Company

Legal