M&A Deal Summary

Centerbridge Partners and Sterling Partners Private Equity Acquire Remedi SeniorCare

On August 31, 2011, asset manager Centerbridge Partners and private equity firm Sterling Partners Private Equity acquired healthcare services company Remedi SeniorCare

Acquisition Highlights
  • This is Centerbridge Partners’ 2nd and Sterling Partners Private Equity’s 4th transaction in the Healthcare Services sector.
  • This is Centerbridge Partners’ 8th and Sterling Partners Private Equity’s 32nd transaction in the United States.
  • This is Centerbridge Partners’ 1st and Sterling Partners Private Equity’s 7th transaction in Maryland.
Investment Fate
  • Remedi SeniorCare was sold to a strategic buyer in 2024.

M&A Deal Summary
Date 2011-08-31
Target Remedi SeniorCare
Sector Healthcare Services
Buyer(s) Centerbridge Partners
Sterling Partners Private Equity
Deal Type Secondary Buyout
Advisor(s) Robert W. Baird & Co., Inc. (Financial)
DLA Piper (Legal)

Target

Remedi SeniorCare

Baltimore, Maryland, United States
website
Remedi SeniorCare delivers comprehensive pharmacy services, pharmacy consulting, and data management services to nursing homes, assisted living, and continuing care retirement communities. The business is committed to helping these organizations achieve outstanding care, financial strength, and medication safety. Remedi combines their culture of caring with real-world pharmacy services and best-in-class technology to give organizations more time and resources and help them focus on caring for their residents. Remedi SeniorCare was formed in 1954 and is based in Baltimore, Maryland.

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Buyer(S) 2

Buyer

Centerbridge Partners

New York, New York, United States

Investor Investor Investor Investor Investor

website

Category Asset Manager
Founded 2005
PE ASSETS 16.9B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Centerbridge Partners is a mega-sized private equity firm focused primarily on distressed/special situations in North America and Europe. In addition to making control investments, Centerbridge also maintains funds for non-control credit investments. Centerbridge was formed in 2005 and is based in New York City.

DEAL STATS #
Overall 9 of 46
Sector (Healthcare Services) 2 of 6
Type (Secondary Buyout) 5 of 26
State (Maryland) 1 of 1
Country (United States) 8 of 38
Year (2011) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-03-28 Green Tree Servicing

St. Paul, Minnesota, United States

Green Tree Servicing LLC provides home loan servicers in the United States.

Sell $1.1B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-10-21 Santander Consumer USA

Dallas, Texas, United States

Santander Consumer USA is a provider of financial services for vehicle and consumer lending products. Santander Consumer USA was founded in 1995 and is based in Dallas, Texas.

Buy -
Buyer

Sterling Partners Private Equity

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 1983
PE ASSETS 5.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Sterling Partners Private Equity is the private equity arm of asset management firm Sterling Partners. Sterling Partners Private Equityis focused on investing in small to medium-sized companies positioned for growth, either organically or through acquisitions. Sterling has a strong interest in businesses with differentiated products, defensible competitive positions, recurring revenues, and diversified customers. The Firm's target equity commitment size is $5 to $175 million. Broad sectors of interest include direct marketing, education, specialty distribution, specialty manufacturing, healthcare, technology, and business services. Sterling Partners was formed in 1983 and is based in Chicago, Illinois.

DEAL STATS #
Overall 33 of 62
Sector (Healthcare Services) 4 of 11
Type (Secondary Buyout) 1 of 4
State (Maryland) 7 of 8
Country (United States) 32 of 60
Year (2011) 2 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-08-28 Smarterville

Baltimore, Maryland, United States

Smarterville, Inc. is a leading provider of branded, supplemental educational content and solutions. In October 2009, Smarterville acquired selected operating and brand assets of Educational Resources Inc. and Sunburst Technology Corporation. Smarterville now serves both the consumer and educational markets with respected product brands such as Hooked on Phonics? and Sunburst Technology?.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-09-13 The InfiLaw System

Naples, Florida, United States

The InfiLaw System is a consortium of independent, community based law schools. The company is establishing itself as a leader in making legal education more responsive to the realities of new career dynamics.

Buy -
Mergr

Product

Company

Legal