Altaris Capital Partners Mergers and Acquisitions Summary

Private Equity Profile

In the last 3 years, Altaris Capital Partners has acquired 6 companies. It has also invested in 2 others.

Altaris Capital Partners’ most common sectors for investment are medical products (38%) and healthcare services (25%). The Firm’s most common investment types include growth capital (28%) and buyout (lbo, mbo, mbi) (25%). In total, Altaris Capital Partners has invested in 13 US states and 3 different countries. Its largest (disclosed) acquisition occurred in 2018 when it acquired Analogic for $1.1B.

In the last 3 years, Altaris Capital Partners has exited 2 companies. The Firm’s most common exit type is secondary buyout (45%). Altaris Capital Partners’ largest (disclosed) exit occurred in 2011 when it sold Specialty Care for $2.3B.

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M&A Summary

  • M&A Total Activity47
    • M&A Buy Activity29
    • M&A Sell Activity18
  • Total Sectors Invested 8
  • Total Countries Invested 3
  • M&A Buy/Sell Connections 18
  • M&A Advisors 2

Altaris Capital Partners LLC

10 East 53rd Street, 31st Floor,
New York City, New York 10022
United States
(212) 931-0250
www.altariscap.com
info@altariscap.com

Altaris Capital Partners 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 Capital Partners was formed in 2004 and is based in New York City.


Investment Criteria

Sectors of Interest: Business Services, Consumer Products, Healthcare Services, Life Science, Medical Products

Target Transaction Types: Buyout (LBO, MBO, MBI), Divestiture, Growth Capital, Recapitalization, Stake Purchase, Venture

Geographic Preferences: East US, Midwest US, South US, West US, Canada, United Kingdom, Western Europe, Scandinavia

Transaction Criteria Min Max
Target Revenue - -
Target EBITDA - -
Investment Size 15 50
Enterprise Value - -
values in millions of USD

M&A Summary

Buy vs Sell

Year ≤ '15 '16 '17 '18 '19 '20 T
Buy (2.2/yr) # 18 3 4 3 1 - 29
vol $347M $1.1B $650M $2.1B
Sell (0.6/yr) # 15 1 2 - - - 18
vol $3.2B $3.2B
  47

Most Recent M&A

Company Date Value Type
Kindeva Drug Delivery L.P. 2019-12-12 650M USD Divestiture
St Paul, Minnesota · www.kindevadd.com
Community Pharmacy Partners 2018-12-20 - Growth Capital
Dallas, Texas · www.communityrxp.com
Analogic Corp. 2018-04-10 1.1B USD Going Private
Boston, Massachusetts · www.analogic.com
Clearwater Compliance LLC 2018-01-24 - Growth Capital
Nashville, Tennessee · www.clearwatercompliance.com
AGS Health, Inc. 2017-09-28 - Recapitalization
Newark, New Jersey · www.agshealth.com
G&H Wire Co., Inc. (dba G&H Orthodontics) 2017-09-14 - Secondary Buyout
Franklin, Indiana · www.ghwire.com
Quantum Health, Inc. 2017-06-14 - Recapitalization
Columbus, Ohio · www.quantum-health.com
Chemical Computing Group, Inc. 2017-06-08 - Secondary Buyout
Montreal, Quebec · www.chemcomp.com
Patient Accounts Services LLC 2017-04-04 - Merger
Houston, Texas · www.pascentral.com
Acclara Solutions LLC 2017-04-04 - Consolidation
Houston, Texas · www.acclara.com
View All >>

Portfolio M&A

Company Acquired Add-On/Sale Date #
Acclara Solutions LLC 2017-04-04 Patient Accounts Services LLC 2017-04-04 1
Houston, Texas · www.acclara.com Houston, Texas · www.pascentral.com
HealthTronics, Inc. 2014-02-03 HealthTech Solutions, Inc. 2016-11-04 8
Austin, Texas · www.healthtronics.com Plymouth, Minnesota · www.4hts.com
HealthTronics, Inc. 2014-02-03 Mobile Medical Marketing LLC 2016-07-20 7
Austin, Texas · www.healthtronics.com Albuquerque, New Mexico
Paramit Corp. 2011-02-18 Lathrop Engineering, Inc. 2016-06-21 2
Morgan Hill, California · www.paramit.com San Jose, California · www.lathropengineering.com
HealthTronics, Inc. 2014-02-03 United Therapies LLC 2016-03-09 6
Austin, Texas · www.healthtronics.com Grange, Illinois · www.unitedtherapies.com
HealthTronics, Inc. 2014-02-03 Advanced Urotech LLC 2015-07-31 5
Austin, Texas · www.healthtronics.com Los Angeles, California
HealthTronics, Inc. 2014-02-03 Carolina Lithotripsy LLC 2015-07-31 4
Austin, Texas · www.healthtronics.com Fayetteville, North Carolina
HealthTronics, Inc. 2014-02-03 Baltimore Lithotripsy Associates LLC 2014-08-15 3
Austin, Texas · www.healthtronics.com Beltsville, Maryland
HealthTronics, Inc. 2014-02-03 American Mobile Advantage LLC 2014-08-15 2
Austin, Texas · www.healthtronics.com Beltsville, Maryland
HealthTronics, Inc. 2014-02-03 American Mobile Advantage CA LLC 2014-08-15 1
Austin, Texas · www.healthtronics.com Baltimore, Maryland

M&A by Sector

Sector Current # Value All-time # Value
Medical Products 6 (40%) 1.3B (66%) 11 (38%) 1.3B (61%)
Healthcare Services 2 (13%) - 7 (24%) 175M (8%)
Life Science 3 (20%) 650M (34%) 4 (14%) 650M (31%)
Insurance 1 (7%) - 2 (7%) -
Software 1 (7%) - 2 (7%) -
Business Services - - 1 (3%) -
Consumer Services 1 (7%) - 1 (3%) -
Information Technology 1 (7%) - 1 (3%) -
Total 15 $1.9B 29 $2.1B

Acquisitions By Geo

State/Country Current # Value All-time # Value
United States 13 (87%) 1.9B (98%) 27 (93%) 2.1B (98%)
  Texas 3 (20%) 130M (7%) 4 (14%) 130M (6%)
  Minnesota 3 (20%) 650M (34%) 3 (10%) 650M (31%)
  New Jersey 1 (7%) - 3 (10%) -
  Indiana 1 (7%) - 3 (10%) -
  Pennsylvania - - 3 (10%) -
  California 1 (7%) - 2 (7%) 175M (8%)
  Tennessee 1 (7%) - 2 (7%) -
  Ohio 1 (7%) - 2 (7%) -
  Massachusetts 1 (7%) 1.1B (57%) 1 (3%) 1.1B (52%)
  Maryland 1 (7%) - 1 (3%) -
  New Mexico - - 1 (3%) -
  Florida - - 1 (3%) -
  Arizona - - 1 (3%) -
United Kingdom 1 (7%) 42M (2%) 1 (3%) 42M (2%)
Canada 1 (7%) - 1 (3%) -
  Quebec 1 (7%) - 1 (3%) -
Domestic 13 (87%) 1.9B (98%) 27 (93%) 2.1B (98%)
Cross-border 2 (13%) 42M (2%) 2 (7%) 42M (2%)
Total 15 $1.9B 29 $2.1B

Acquisitions by Deal Type

Type Current # Value All-time # Value
Growth Capital 4 (27%) - 8 (28%) -
Buyout (LBO, MBO, MBI) 1 (7%) - 7 (24%) 175M (8%)
Secondary Buyout 4 (27%) 42M (2%) 6 (21%) 42M (2%)
Divestiture 2 (13%) 780M (41%) 2 (7%) 780M (37%)
Recapitalization 2 (13%) - 2 (7%) -
Going Private 1 (7%) 1.1B (57%) 1 (3%) 1.1B (52%)
Consolidation 1 (7%) - 1 (3%) -
Stake Purchase - - 1 (3%) -
Venture - - 1 (3%) -
Total 15 $1.9B 29 $2.1B

Exits by Deal Type

Type Total # Value
Secondary Sale 8 (44%) 2.6B (80%)
Trade Sale - Public Company 4 (22%) 558M (17%)
Trade Sale 3 (17%) -
Divestiture 1 (6%) 95M (3%)
Merger 1 (6%) -
Recapitalization 1 (6%) -
Total 18 $3.2B

Top M&A Advisors

Legal Deals
Schiff Hardin LLP
2
Choate Hall & Stewart LLP
1

Deal Values

buy # Total
> $1B 1 $1.1B
$100M to $1B 3 $955M
< $100M 1 $42M
TOTAL $2.1B
Largest Analogic Corp.
$1.1B (2018-04-10)
sell # Total
> $1B 1 $2.3B
$100M to $1B 4 $793M
< $100M 2 $111M
TOTAL $3.2B
Largest Specialty Care, Inc.
$2.3B (2011-05-24)

M&A Connections

Deals %
Acquired from
PE Firm(s)
80%
8 80%
Strategic(s)
20%
2 20%
Exited to
PE Firm(s)
53%
10 53%
Strategic(s)
47%
9 47%

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