M&A Deal Summary

Ancor Capital Partners, Merit Capital Partners and New Canaan Funding Acquire Avail Medical Products

On June 1, 1995, private equity firm Ancor Capital Partners, mezzanine finance firm Merit Capital Partners and mezzanine finance firm New Canaan Funding acquired medical products company Avail Medical Products

Acquisition Highlights
  • This is Ancor Capital Partners’ 2nd, Merit Capital Partners’ 1st and New Canaan Funding’s 1st transaction in the Medical Products sector.
  • This is Ancor Capital Partners’ 2nd, Merit Capital Partners’ 8th and New Canaan Funding’s 1st transaction in the United States.
  • This is Ancor Capital Partners’ 2nd, Merit Capital Partners’ 1st and New Canaan Funding’s 1st transaction in Texas.
Investment Fate
  • Avail Medical Products was sold to a consortium of financial buyers in 2000.
  • Avail Medical Products was sold to a publicly-traded strategic buyer in 2008.

M&A Deal Summary

Date 1995-06-01
Target Avail Medical Products
Sector Medical Products
Buyer(s) Ancor Capital Partners
Merit Capital Partners
New Canaan Funding
Deal Type Buyout (LBO, MBO, MBI)

Target

Avail Medical Products

Fort Worth, Texas, United States
Avail Medical Products, Inc. operates in a niche segment of the medical products industry, supplying custom-designed disposable products to national and regional manufacturers of medical supplies. Avail’s products are used principally in an operating room environment to improve efficiencies and prevent infections, with major customers including Johnson & Johnson and Baxter International.

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Buyer(S) 3

Buyer

Ancor Capital Partners

Southlake, Texas, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1994
Size Small
Type Sector Agnostic
DESCRIPTION

Ancor Capital Partners is a private equity firm focused on recapitalizations of lower middle-market companies operating in the manufacturing, distribution, and healthcare sectors. Prospective businesses are generally valued between $25 and $150 million and are profitable with EBITDA of $5 to $15 million. The Firm prefers businesses located in the US. Ancor will does not invest in start-ups, turnarounds, or businesses in real estate, or energy exploration. Ancor Capital Partners was formed in 1994 and is based in Southlake, Texas.


DEAL STATS #
Overall 2 of 26
Sector (Medical Products) 2 of 4
Type (Buyout (LBO, MBO, MBI)) 2 of 14
State (Texas) 2 of 8
Country (United States) 2 of 26
Year (1995) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
1995-05-01 Struckmeyer

Dallas,, Texas, United States

The Company was a leading manufacturer to OEMs of medical devices including die-cutting, ultrasonic welding, and impulse welding. The Company was located in Dallas, Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
1999-09-01 Cyclonics

Cleveland, Ohio, United States

("Cyclonics") operated as a full service designer and manufacturer of trade show exhibits and was acquired by Exhibit Dynamics in September 1999.

Sell -
Buyer

Merit Capital Partners

Chicago, Illinois, United States

Investor Investor Investor Investor Investor


Category Mezzanine Finance Firm
Founded 1993
PE ASSETS 2.2B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Merit Capital Partners is a private investment firm that targets investments in middle market manufacturing, distribution, and service based businesses. Merit looks for companies generating at least $25 million in sales and at least $4 million in EBITDA. Merit can provide both equity and junior capital financing and looks to commit at least $15 million per transaction. Prospective transaction situations include management buyouts, recapitalizations, growth financings, divestitures, unsponsored transactions, and ESOPs. Merit Capital will not invest in start-ups, turnarounds, real estate, specialty retail, or oil/gas opportunities. Merit Capital was originally known as William Blair Mezzanine Capital and became independent in 2004. Merit was formed in 1993 and is based in Chicago, Illinois.


DEAL STATS #
Overall 8 of 98
Sector (Medical Products) 1 of 5
Type (Buyout (LBO, MBO, MBI)) 6 of 62
State (Texas) 1 of 12
Country (United States) 8 of 97
Year (1995) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
1994-10-01 Houston Harvest Gift Products

Franklin Park, Illinois, United States

Houston Harvest Gift Products, LLC is a manufacturer and marketer of ready-to-eat popcorn in collectible gift canisters in the United States. The HHGP designs and manufactures a full line of popcorn products which are sold in decorative tins.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
1995-08-01 ITI Marketing Services

Omaha, Nebraska, United States

ITI Marketing Services, Inc. is a provider of inbound and outbound telemarketing services. ITI specializes in serving large accounts requiring both high quality and substantial volume, including Sprint, CUC International, Time and GE.

Sell -
Buyer

New Canaan Funding

New Canaan, Connecticut, United States

Category Mezzanine Finance Firm
Founded 1995
PE ASSETS 238M USD
Size Small
Type Sector Agnostic
DESCRIPTION

New Canaan Funding is a middle-market mezzanine finance firm. New Canaan looks to provide subordinated debt to help fund acquisitions, recapitalizations and growth financings. New Canaan invests $3 to $20 million per transaction with an EBITDA of $3 million. New Canaan Funding was formed in 1995 and has offices in New Canaan, Connecticut and Wheaton, Illinois.


DEAL STATS #
Overall 1 of 34
Sector (Medical Products) 1 of 3
Type (Buyout (LBO, MBO, MBI)) 1 of 16
State (Texas) 1 of 3
Country (United States) 1 of 34
Year (1995) 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
1999-02-16 Alarmguard Holdings

Orange, Connecticut, United States

Alarmguard Holdings, Inc. engages in the sale and installation of burglar and fire alarm systems. It also provides security monitoring services, alarm monitoring services, and repair and maintenance services for residential and business subscribers located primarily in the northeast and Mid- Atlantic regions of the United States.

Sell -