Altaris Capital Partners Mergers and Acquisitions Summary

Private Equity Profile

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

Altaris Capital Partners’ most common sectors for investment are medical products (39%) and healthcare services (23%). The Firm’s most common investment types include growth capital (26%) and buyout (lbo, mbo, mbi) (23%). In total, Altaris Capital Partners has invested in 13 US states and 4 different countries. Its largest (disclosed) acquisition occurred in 2021 when it acquired Perrigo Company - Prescription Pharmaceuticals Business for $1.6B.

In the last 3 years, Altaris Capital Partners has exited 1 company. The Firm’s most common exit type is trade sale (43%). 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 Activity50
    • M&A Buy Activity31
    • M&A Sell Activity19
  • Total Sectors Invested 8
  • Total Countries Invested 4
  • M&A Buy/Sell Connections 20
  • M&A Advisors 5

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 ≤ '16 '17 '18 '19 '20 '21 T
Buy (2.0/yr) # 21 4 3 1 - 2 31
vol $347M $1.1B $650M $1.6B $3.6B
Sell (0.6/yr) # 16 2 - - - 1 19
vol $3.2B $3.2B
  50

Most Recent M&A

Company Date Value Type
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
Perrigo Company PLC - Prescription Pharmaceuticals Business (Rx) 2021-03-01 1.6B USD Divestiture
Dublin, Ireland
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
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 United Therapies LLC 2016-03-09 8
Austin, Texas · www.healthtronics.com Grange, Illinois · www.unitedtherapies.com
Paramit Corp. 2011-02-18 Lemtronics Sdn. Bhd. 2011-11-30 4
Morgan Hill, California · www.paramit.com Pulau Pinang, Malaysia · www.lemtronics.net
InterMed Holdings Ltd. (a.k.a. Penlon) 2007-05-25 Penlon Medical Gas Solutions Ltd. 2011-04-08 1
Abingdon OX, United Kingdom · www.penlon.co.uk Abingdon, United Kingdom

M&A by Sector

Sector Current # Value All-time # Value
Medical Products 7 (44%) 1.3B (37%) 12 (39%) 1.3B (35%)
Healthcare Services 2 (13%) - 7 (23%) 175M (5%)
Life Science 4 (25%) 2.2B (63%) 5 (16%) 2.2B (60%)
Insurance 1 (6%) - 2 (6%) -
Software 1 (6%) - 2 (6%) -
Business Services - - 1 (3%) -
Consumer Services - - 1 (3%) -
Information Technology 1 (6%) - 1 (3%) -
Total 16 $3.5B 31 $3.6B

Acquisitions By Geo

State/Country Current # Value All-time # Value
United States 13 (81%) 1.9B (54%) 28 (90%) 2.1B (56%)
  Texas 3 (19%) 130M (4%) 4 (13%) 130M (4%)
  Pennsylvania 1 (6%) - 4 (13%) -
  Minnesota 3 (19%) 650M (19%) 3 (10%) 650M (18%)
  New Jersey 1 (6%) - 3 (10%) -
  Indiana 1 (6%) - 3 (10%) -
  California 1 (6%) - 2 (6%) 175M (5%)
  Tennessee 1 (6%) - 2 (6%) -
  Ohio 1 (6%) - 2 (6%) -
  Massachusetts 1 (6%) 1.1B (32%) 1 (3%) 1.1B (30%)
  New Mexico - - 1 (3%) -
  Maryland - - 1 (3%) -
  Florida - - 1 (3%) -
  Arizona - - 1 (3%) -
Ireland 1 (6%) 1.6B (45%) 1 (3%) 1.6B (42%)
United Kingdom 1 (6%) 42M (1%) 1 (3%) 42M (1%)
Canada 1 (6%) - 1 (3%) -
  Quebec 1 (6%) - 1 (3%) -
Domestic 13 (81%) 1.9B (54%) 28 (90%) 2.1B (56%)
Cross-border 3 (19%) 1.6B (46%) 3 (10%) 1.6B (44%)
Total 16 $3.5B 31 $3.6B

Acquisitions by Deal Type

Type Current # Value All-time # Value
Growth Capital 4 (25%) - 8 (26%) -
Buyout (LBO, MBO, MBI) 1 (6%) - 7 (23%) 175M (5%)
Secondary Buyout 3 (19%) 42M (1%) 6 (19%) 42M (1%)
Divestiture 3 (19%) 2.3B (67%) 3 (10%) 2.3B (64%)
Recapitalization 2 (13%) - 2 (6%) -
Stake Purchase 1 (6%) - 2 (6%) -
Going Private 1 (6%) 1.1B (32%) 1 (3%) 1.1B (30%)
Consolidation 1 (6%) - 1 (3%) -
Venture - - 1 (3%) -
Total 16 $3.5B 31 $3.6B

Exits by Deal Type

Type Total # Value
Secondary Sale 8 (42%) 2.6B (80%)
Trade Sale - Public Company 4 (21%) 558M (17%)
Trade Sale 4 (21%) -
Divestiture 1 (5%) 95M (3%)
Merger 1 (5%) -
Recapitalization 1 (5%) -
Total 19 $3.2B

Top M&A Advisors

Financial Deals
Goldman Sachs Investment Banking Division
 2
J.P. Morgan Securities LLC
 1
Legal Deals
Schiff Hardin LLP
 2
Cleary Gottlieb Steen & Hamilton LLP
 1
Choate Hall & Stewart LLP
 1

Deal Values

buy # Total
> $1B 2 $2.7B
$100M to $1B 3 $955M
< $100M 1 $42M
TOTAL $3.6B
Largest Perrigo Company PLC - Prescription Pharmaceuticals Business (Rx)
$1.6B (2021-03-01)
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
Investor(s)
23%
7 (23%)
Strategic(s)
10%
3 (10%)
Exited to
Investor(s)
47%
9 (47%)
Strategic(s)
53%
10 (53%)

Investor Summary

Size

Large

PE Assets

2.5B USD

Established

2003

Specialist/Generalist

Specialist

Leadership

Daniel Tully

Co-founder & Managing Director

George Aitken-Davies

Founder & Managing Director

David Ellison

Managing Director

Charles Mullens

CFO

James O'Brien

Managing Director

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