M&A Deal Summary

The Halifax Group Acquires PromptCare

On March 9, 2017, private equity firm The Halifax Group acquired healthcare services company PromptCare from Praesidian Capital and MidMark Capital

Acquisition Highlights
  • This is The Halifax Group’s 5th transaction in the Healthcare Services sector.
  • This is The Halifax Group’s 22nd transaction in the United States.
  • This is The Halifax Group’s 2nd transaction in New Jersey.

M&A Deal Summary
Date 2017-03-09
Target PromptCare
Sector Healthcare Services
Buyer(s) The Halifax Group
Sellers(s) Praesidian Capital
MidMark Capital
Deal Type Secondary Buyout

Target

PromptCare

Clark, New Jersey, United States
website
PromptCare, Inc. is a regional provider of specialty respiratory and infusion services. PromptCare serves pediatric and adult patients across the Mid-Atlantic and Northeastern United States. The Company combines high-tech equipment and infusion drug therapies with a tailored, -high-touch service approach to deliver superior patient care, and is a preferred partner of hospitals, physicians, and payors in managing complex medical conditions such as ALS, chronic lung conditions, and a number of nutritional and autoimmune deficiencies. PromptCare currently serves more than 2000 pediatric and adult ventilation patients and more than 1,400 infusion patients from 23 locations in 12 states. Established in 1985 and headquartered in Clark, NJ,

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Buyer(S) 1

Buyer

The Halifax Group

Washington, District of Columbia, United States

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 1999
PE ASSETS 1.5B USD
Size Large
Type Sector Agnostic
DESCRIPTION

The Halifax Group is a private equity firm focused on investing in established, profitable, and growing companies. The Firm prefers completing transactions in partnership with management and typically looks to invest $40 to $80 million per acquisition. Prospective companies generally have revenues of at least $20 million and EBITDA greater than $5 million. Sectors of interest include business services, healthcare services, infrastructure services, and 'wellness' products and services. Halifax prefers opportunities located in North America. The Halifax Group was formed in 1999 and is based in Washington, DC, with additional offices in Dallas, Texas and Raleigh, North Carolina.

DEAL STATS #
Overall 26 of 42
Sector (Healthcare Services) 5 of 7
Type (Secondary Buyout) 8 of 15
State (New Jersey) 2 of 2
Country (United States) 22 of 37
Year (2017) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-10-04 Golden State Overnight Delivery Service

Pleasanton, California, United States

Golden State Overnight Delivery Service, Inc. is a provider of regional next day delivery services. GSO customers enjoy a high level of customer service, including later pickup times, earlier deliveries, dedicated service representatives, and package tracking, all at market leading prices.

Sell $90M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-06-01 Burke

Fond du Lac, Wisconsin, United States

Burke is a provider of commercial play and outdoor recreation solutions for public parks, educational institutions, early childcare centers, and commercial developments. The Company specializes in play systems and provides a wide array of other playground and recreation necessities, including outdoor musical instruments, safety surfacing, outdoor fitness products, and site amenities. Burke’s advanced modular play systems can be configured and customized in a myriad of ways with colors, designs, and different levels of challenge. Its products are not only for physical movement; they ignite cognitive, social, emotional, and imaginative skill development in children of all abilities. Burke was formed in 1920 and is based in Fond du Lac, Wisconsin.

Buy -

Seller(S) 2

SELLER

Praesidian Capital

Oklahoma City, New York, United States

Investor Investor Investor Investor Investor

website

Category Mezzanine Finance Firm
Founded 2002
PE ASSETS 1.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Praesidian Capital is a mezzanine debt provider for middle-market companies throughout the US and Europe. Praesidian looks to provide junior capital to businesses with revenues between $3 and $100 million and EBITDA between $250k and $20 million. Capital is typically used to support acquisitions, management/leveraged buyouts, recapitalizations, and restructurings. Praesidian will not invest in oil & gas exploration, financial services, real estate, or start-ups. Praesidian Capital was formed in 2002 and is based in New York City.

DEAL STATS #
Overall 19 of 29
Sector (Healthcare Services) 1 of 1
Type (Secondary Buyout) 6 of 13
State (New Jersey) 1 of 1
Country (United States) 19 of 27
Year (2017) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-01-12 Etransmedia Technology

Troy, New York, United States

Etransmedia Technology, Inc. is a healthcare information technology company delivering comprehensive integrated software, service and connectivity solutions to simplify critical functions in the healthcare community. Etransmedia customers include some of the country’s leading healthcare systems and hospitals, as well as affiliated physician practices. With 400 employees, the company operates across 43 states and reaches more than 12,500 providers and 30,000 users.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-11-29 Remedy Health Media

New York, New York, United States

Remedy Health Media is a digital health platform specializing in inspirational video-based storytelling and award-winning digital brands. The Company's portfolio of brands includes HealthCentral, TheBody, TheBodyPro, BerkeleyWellness, and Healthcommunities. Remedy Health Media was founded in 1994 and is based in New York City.

Buy -
SELLER

MidMark Capital

Morristown, New Jersey, United States

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 1989
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

MidMark Capital is a private equity investment firm focused on acquiring mid-sized manufacturing companies. The Firm generally looks to acquire controlling interests in standalone businesses from private and corporate owners, however the MidMark will also make significant equity investments in rapidly growing businesses. MidMark typically acts as the lead investor when pursuing transactions. MidMark Capital was formed in 1989 and is based in Morristown, New Jersey.

DEAL STATS #
Overall 12 of 12
Sector (Healthcare Services) 1 of 1
Type (Secondary Buyout) 2 of 2
State (New Jersey) 1 of 1
Country (United States) 11 of 11
Year (2017) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-09-08 General Products

Livona, Michigan, United States

General Products Corp. is a provider of full-service supplier of highly-engineered, complex and precision-machined components and assemblies to the North American automotive and heavy-duty truck markets.

Sell -
Mergr

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