Altaris Capital Partners Mergers and Acquisitions Summary

Private Equity Firm Profile

In the last 3 years, Altaris Capital Partners has acquired 4 companies. It has also invested in 1 other.

Altaris Capital Partners’ most common sectors for investment aremedical products (39%) and healthcare services (21%) . The Firm’s most common investment types include growth capital (24%) and buyout (lbo, mbo, mbi) (21%). In total, Altaris Capital Partners has invested in 16 US states and 3 different countries. Its largest (disclosed) acquisition occurred in 2021 when it acquired Padagis for $1.6B.

In the last 3 years, Altaris Capital Partners has exited 4 companies. The Firm’s most common exit type is trade sale (42%). 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 Activity58
    • M&A Buy Activity34
    • M&A Sell Activity24
  • Total Sectors Invested 8
  • Total Countries Invested 3
  • M&A Buy/Sell Connections 26
  • M&A Advisors 8

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 ≤ '18 '19 '20 '21 '22 '23 T
Buy (1.2/yr) # 28 1 - 4 1 - 34
vol $1.4B $650M $2.1B $241M $4.4B
Sell (0.8/yr) # 20 - 1 3 - - 24
vol $3.2B $2.4B $5.6B
  58

Most Recent M&A

Company Date Value Type
IntriCon Corp. 2022-02-28 241M USD Going Private
Arden Hills, Minnesota · www.intricon.com
Veranova 2021-12-17 500M GBP Divestiture
Wayne, Pennsylvania · www.veranova.com
Meridian Medical Technologies LLC 2021-11-02 - Divestiture
St. Louis, Missouri · www.meridianmeds.com
BK Medical Holding Company, Inc. 2021-09-23 1.5B USD Divestiture
Peabody, Massachusetts · www.bkmedical.com
Paramit Corp. 2021-06-23 956M CHF Add-on Acquisition
Morgan Hill, California · www.paramit.com
Solesis, Inc. 2021-04-15 - Stake Purchase
Perkasie, Pennsylvania · www.solesis.com
SH Franchising LLC 2021-04-01 - Add-on Acquisition
Towson, Maryland · www.seniorhelpers.com
Padagis LLC 2021-03-01 1.6B USD Divestiture
Allegan, Michigan · www.padagis.com
Doubleday Acquisitions LLC 2020-12-24 - Recapitalization
Monroe, Ohio · www.csafeglobal.com
Kindeva Drug Delivery L.P. 2019-12-12 650M USD Divestiture
Woodbury, Minnesota · www.kindevadd.com
View All >>

Portfolio M&A

Company Acquired Add-On/Sale Date #
HealthTronics, Inc. 2014-02-03 United Therapies LLC 2016-03-09 8
Austin, Texas · www.healthtronics.com Grange, Illinois · www.unitedtherapies.com

M&A by Sector

Sector Current # Value All-time # Value
Medical Products 6 (46%) 1.5B (35%) 13 (38%) 1.5B (34%)
Life Science 4 (31%) 2.7B (65%) 7 (21%) 2.7B (62%)
Healthcare Services - - 7 (21%) 175M (4%)
Insurance 1 (8%) - 2 (6%) -
Software 1 (8%) - 2 (6%) -
Business Services - - 1 (3%) -
Consumer Services - - 1 (3%) -
Information Technology 1 (8%) - 1 (3%) -
Total 13 $4.2B 34 $4.4B

Acquisitions By Geo

State/Country Current # Value All-time # Value
United States 12 (92%) 4.2B (100%) 32 (94%) 4.3B (99%)
  Pennsylvania 2 (15%) 500M (12%) 5 (15%) 500M (11%)
  Minnesota 4 (31%) 891M (21%) 4 (12%) 891M (20%)
  Texas 1 (8%) 130M (3%) 4 (12%) 130M (3%)
  Indiana 1 (8%) - 3 (9%) -
  Tennessee 1 (8%) - 2 (6%) -
  California - - 2 (6%) 175M (4%)
  Ohio - - 2 (6%) -
  New Jersey - - 2 (6%) -
  Michigan 1 (8%) 1.6B (37%) 1 (3%) 1.6B (35%)
  Massachusetts 1 (8%) 1.1B (26%) 1 (3%) 1.1B (25%)
  Missouri 1 (8%) - 1 (3%) -
  New Mexico - - 1 (3%) -
  Maryland - - 1 (3%) -
  Florida - - 1 (3%) -
  District of Columbia - - 1 (3%) -
  Arizona - - 1 (3%) -
Canada 1 (8%) - 1 (3%) -
  Quebec 1 (8%) - 1 (3%) -
United Kingdom - - 1 (3%) 42M (1%)
Domestic 12 (92%) 4.2B (100%) 32 (94%) 4.3B (99%)
Cross-border 1 (8%) - 2 (6%) 42M (1%)
Total 13 $4.2B 34 $4.4B

Acquisitions by Deal Type

Type Current # Value All-time # Value
Growth Capital 3 (23%) - 8 (24%) -
Buyout (LBO, MBO, MBI) - - 7 (21%) 175M (4%)
Secondary Buyout 2 (15%) - 6 (18%) 42M (1%)
Divestiture 5 (38%) 2.8B (68%) 5 (15%) 2.8B (64%)
Going Private 2 (15%) 1.3B (32%) 2 (6%) 1.3B (31%)
Recapitalization - - 2 (6%) -
Stake Purchase 1 (8%) - 2 (6%) -
Consolidation - - 1 (3%) -
Venture - - 1 (3%) -
Total 13 $4.2B 34 $4.4B

Exits by Deal Type

Type Total # Value
Secondary Sale 8 (33%) 2.6B (45%)
Trade Sale - Public Company 5 (21%) 1.5B (27%)
Trade Sale 5 (21%) -
Recapitalization 3 (13%) -
Divestiture 2 (8%) 1.5B (28%)
Merger 1 (4%) -
Total 24 $5.6B

Top M&A Advisors

Financial Deals
Goldman Sachs Investment Banking Division
 2
J.P. Morgan Securities LLC
 1
Lincoln International
 1
Legal Deals
Schiff Hardin LLP
 3
Cleary Gottlieb Steen & Hamilton LLP
 2
Linklaters LLP
 2

Deal Values

buy # Total
> $1B 2 $2.7B
$100M to $1B 5 $1.7B
< $100M 1 $42M
TOTAL $4.4B
Largest Padagis LLC
$1.6B (2021-03-01)
sell # Total
> $1B 2 $3.8B
$100M to $1B 5 $1.7B
< $100M 2 $111M
TOTAL $5.6B
Largest Specialty Care, Inc.
$2.3B (2011-05-24)

M&A Connections

Deals
Acquired from
Investor(s)
21%
7 (21%)
Strategic(s)
15%
5 (15%)
Exited to
Investor(s)
46%
11 (46%)
Strategic(s)
54%
13 (54%)

Investor Summary

Investor Type

Private Equity Firm

Size

Large

PE Assets

5.0B USD

Established

2003

Specialist/Generalist

Specialist

Leadership

Daniel Tully

Co-founder & Managing Director

George Aitken-Davies

Founder & Managing Director

Garikai Nyaruwata

Managing Director

James O’Brien

Managing Director

Nicholas Fulco

Managing Director

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