M&A Deal Summary

Compass Health Brands Acquires Carex Health Brands

On March 27, 2014, Compass Health Brands acquired medical products company Carex Health Brands from Ancor Capital Partners and Merit Capital Partners

Acquisition Highlights
  • This is Compass Health Brands’ 3rd transaction in the Medical Products sector.
  • This is Compass Health Brands’ 3rd transaction in the United States.
  • This is Compass Health Brands’ 1st transaction in South Dakota.

M&A Deal Summary
Date 2014-03-27
Target Carex Health Brands
Sector Medical Products
Buyer(s) Compass Health Brands
Sellers(s) Ancor Capital Partners
Merit Capital Partners
Deal Type Add-on Acquisition

Target

Carex Health Brands

Sioux Falls, South Dakota, United States
website
Carex Health Brands, Inc. is a designer and marketer of branded home medical equipment. Carex produces and sells products under four brands – Carex, Apex, Bed Buddy and Thera-Med. Products include mobility aids, bath safety products, medication compliance aids, and hot/cold therapy products. Carex’s customers are primarily big box retailers, chain pharmacies, grocery stores and pharmaceutical distribution companies.

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Buyer(S) 1

Buyer

Compass Health Brands

Middleburg Heights, Ohio, United States

website

Category Company
Founded 1993
Sector Medical Products
DESCRIPTION

Compass Health Brands is a provider of bath safety, durable medical equipment, health aids, medication compliance, mobility, pain management, personal care, respiratory, and sleep therapy serving both professional and consumer markets. Compass Health Brands was founded in 1993 and is based in Middleburg Heights, Ohio.

DEAL STATS #
Overall 3 of 7
Sector (Medical Products) 3 of 6
Type (Add-on Acquisition) 3 of 5
State (South Dakota) 1 of 1
Country (United States) 3 of 7
Year (2014) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-01-28 Revolution Mobility

Ontario, California, United States

Revolution Mobility is an importer and wholesaler of institutional and retail durable medical equipment and aids for daily living.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-04-25 ENDEVR - STRENGTHTAPE Brand & Assets

Saint George, Utah, United States

ENDEVR - STRENGTHTAPE Brand & Assets is a kinesiology tape brand. STRENGTHTAPE provides long-lasting durability and effectiveness on common injuries, STRENGTHTAPE tape is the official kinesiology tape of the IRONMAN® triathlon.

Buy -

Seller(S) 2

SELLER

Ancor Capital Partners

Southlake, Texas, United States

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 1994
Size Small
Type Sector Agnostic
DESCRIPTION

Ancor Capital Partners is a private equity firm focused on recapitalizations of lower middle-market companies operating in the manufacturing, distribution, and healthcare sectors. Prospective businesses are generally valued between $25 and $150 million and are profitable with EBITDA of $5 to $15 million. The Firm prefers businesses located in the US. Ancor will does not invest in start-ups, turnarounds, or businesses in real estate, or energy exploration. Ancor Capital Partners was formed in 1994 and is based in Southlake, Texas.

DEAL STATS #
Overall 4 of 14
Sector (Medical Products) 2 of 3
Type (Add-on Acquisition) 3 of 10
State (South Dakota) 1 of 1
Country (United States) 4 of 14
Year (2014) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-10-15 WellSpring Consumer Healthcare

Sarasota, Florida, United States

WellSpring Consumer Healthcare is a marketer of over-the-counter and cosmetic brands in the skincare, feminine hygiene, and gastrointestinal care categories. WellSpring’s portfolio includes Bactine, Bonine, FDS, Emetrol, Micatin, Gelusil, Glaxal Base, Barriere, and K-Lyte. WellSpring Consumer Healthcare was founded in 1999 and is based in Sarasota, Florida.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-05-27 Identity Group

Nashville, Tennessee, United States

Identity Group is a manufacturer of custom identity products engineered to communicate a brand, message, location, or creative theme. Identity Group is best known for manufacturing and marketing customized interior signs and wayfinding products for large-scale construction and renovation projects. Identity Group was founded in 1957 and is based in Nashville, Tennessee.

Buy -
SELLER

Merit Capital Partners

Chicago, Illinois, United States

Investor Investor Investor Investor Investor

website

Category Mezzanine Finance Firm
Founded 1993
PE ASSETS 2.2B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Merit Capital Partners is a private investment firm that targets investments in middle market manufacturing, distribution, and service based businesses. Merit looks for companies generating at least $25 million in sales and at least $4 million in EBITDA. Merit can provide both equity and junior capital financing and looks to commit at least $15 million per transaction. Prospective transaction situations include management buyouts, recapitalizations, growth financings, divestitures, unsponsored transactions, and ESOPs. Merit Capital will not invest in start-ups, turnarounds, real estate, specialty retail, or oil/gas opportunities. Merit Capital was originally known as William Blair Mezzanine Capital and became independent in 2004. Merit was formed in 1993 and is based in Chicago, Illinois.

DEAL STATS #
Overall 28 of 52
Sector (Medical Products) 4 of 4
Type (Add-on Acquisition) 13 of 27
State (South Dakota) 2 of 2
Country (United States) 28 of 51
Year (2014) 3 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-03-03 The Plastics Group

Willowbrook, Illinois, United States

The Plastics Group, Inc. provides in the design, engineering, and manufacture of custom blow-molded and rotational-molded plastic parts for a variety of end-market applications. The Plastics Group was formed in 1997 and is based in Willowbrook, Illinois.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-05-01 Carter-Waters

Kansas City, Missouri, United States

Carter-Waters LLC is a distributor of construction materials and equipment utilized in concrete construction applications to commercial, highway and residential contractors. The Company operates 12 locations in Missouri, Kansas and Southern Illinois. Carter-Waters also maintains an extensive rental inventory of concrete forming and shoring products and operates a custom rebar fabrication facility.

Buy -
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