M&A Deal Summary

Altaris Acquires Penlon

On May 25, 2007, private equity firm Altaris acquired medical products company Penlon from August Equity for 28M GBP

Acquisition Highlights
  • This is Altaris’ 4th transaction in the Medical Products sector.
  • This is Altaris’ 9th largest (disclosed) transaction.
  • This is Altaris’ 1st transaction in the United Kingdom.
Investment Fate
  • Penlon was sold to a strategic buyer in 2015.

M&A Deal Summary

Date 2007-05-25
Target Penlon
Sector Medical Products
Buyer(s) Altaris
Sellers(s) August Equity
Deal Type Secondary Buyout
Deal Value 28M GBP
Advisor(s) Lincoln International (Financial)

Target

Penlon

Abingdon, United Kingdom
Penlon is an UK manufacturer of anaesthesia equipment. Penlon designed and manufactured anaesthetic vaporisers, anaesthesia management systems and related products primarily used by anaesthetists in hospital induction rooms, operating theatres and recovery rooms. Penlon was founded in 1943 and is based in Abingdon, United Kingdom.

Search 215,058 Deals Now

SEARCH BY

  • Buyer Type (PE or Strategic)
  • Deal Size ($10M to $10B+)
  • Sector (60 Sectors)
  • Deal Type
  • Geography
  • & More

Try Free

Buyer(S) 1

Buyer

Altaris

New York City, New York, United States

Investor Investor Investor


Category Private Equity Firm
Founded 2003
PE ASSETS 10.0B USD
Size Mega
Type Sector Focused
DESCRIPTION

Altaris is a specialist private equity firm that targets investments in the healthcare industry. Altaris focuses its investment activity across the healthcare sector, including pharmaceuticals, medical devices, healthcare services and healthcare IT. Altaris will consider both control and non-control investment situations requiring $15 to $50 million of equity capital. Prospective investment situations include corporate carve-outs, leveraged buyouts, and growth equity/recapitalization investments. Altaris was formed in 2004 and is based in New York, New York.


DEAL STATS #
Overall 7 of 39
Sector: Medical Products M&A 4 of 13
Type: Secondary Buyout M&A Deals 2 of 6
Country: United Kingdom M&A 1 of 1
Year: 2007 M&A 1 of 1
Size (of disclosed) 9 of 9
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2006-04-11 Sparta Systems

Hamilton, New Jersey, United States

Sparta Systems is a provider of quality management software to the pharmaceutical, medical device, and consumer products industries. Sparta’s software solutions help improve quality outcomes and incident response, with improved regulatory compliance and lower administrative costs. Its flagship platform, TrackWise, is used by 35 of the top 40 pharma companies and 13 of the top 15 medical device manufacturers. Sparta has over 825,000 individual users overall across more than 30 countries. Sparta Systems was formed in 1994 and is based in Hamilton, New Jersey.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-07-10 JDS Pharmaceuticals

Morrisville, Pennsylvania, United States

JDS Pharmaceuticals is a pharmaceutical company focused on the central nervous system. The company sold Pexeva and Lithobid® through its specialty sales force, and has a pipeline of products in clinical development. JDS Pharmaceuticals is based in Morrisville, Pennsylvania.

Sell $187M

Seller(S) 1

SELLER

August Equity

London, United Kingdom

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2001
PE ASSETS 350M GBP
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

August Equity is a private equity firm that provides capital for management buyouts, buy-ins, growth financings, and recapitalizations of small and medium-sized UK-based companies. August Equity targets growth companies with strong cash-flow operating within four sectors. These include healthcare, media/technology, industrial products and services, and consumer products and services. August Equity looks to commit £10 to £50 million per transaction. August Equity was formed in 2001 and is based in London.


DEAL STATS #
Overall 5 of 30
Sector: Medical Products M&A 1 of 1
Type: Secondary Buyout M&A Deals 2 of 13
Country: United Kingdom M&A 5 of 29
Year: 2007 M&A 1 of 1
Size (of disclosed) 8 of 9
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2006-12-18 Boat International Media

London, United Kingdom

Boat International Media Limited ('Boat') is the world's media group serving the superyacht industry. Boat publishes the world's best superyacht magazines and luxury books, organises high quality events, and provides digital media services and data to owners and professionals in the superyacht industry.

Buy £29M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-07-12 Lifeways

Warrington, United Kingdom

Lifeways is a provider of supported living services for adults with learning disabilities. Lifeways enables service users to live more independently and take control of how their care and support is planned and delivered, giving the greater empowerment over decisions affecting their lives. Lifeways was founded in 1995 and is based in Warrington, United Kingdom.

Buy -