M&A Deal Summary

Apax Acquires One Call Care Management

On October 25, 2013, private equity firm Apax acquired healthcare services company One Call Care Management, Inc. from Norwest Mezzanine Partners and Odyssey Investment Partners

Acquisition Highlights
  • This is Apax’s 10th transaction in the Healthcare Services sector.
  • This is Apax’s 57th transaction in the United States.
  • This is Apax’s 1st transaction in Florida.

M&A Deal Summary

Date 2013-10-25
Target One Call Care Management, Inc.
Sector Healthcare Services
Buyer(s) Apax
Sellers(s) Norwest Mezzanine Partners
Odyssey Investment Partners
Deal Type Secondary Buyout
Advisor(s) Latham & Watkins (Legal)

Target

One Call Care Management, Inc.

Jacksonville, Florida, United States
website
One Call is a provider of specialized services to the workers' compensation industry that lead to faster, more efficient, and more cost-effective claims resolution. From high-end diagnostics and physical therapy services to post-discharge and in-home and complex care management, to transportation and language services, to superior dental programs and other medical specialties, One Call provides reliable, consistent connections to care that enable maximum medical improvement and superior outcomes. One Call was formed in 2012 and is based in Jacksonville, Florida.

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Buyer(S) 1

Buyer

Apax

London, United Kingdom

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1981
PE ASSETS 60.0B USD
SizeMega
Type Sector Agnostic
DESCRIPTION

Apax Partners is a mega-sized private equity investment group, operating across the United States, Europe, Israel and Asia. Broad industry sectors of interest include tech & telecom, media, retail & consumer, healthcare, financial services, and business services. Apax will consider both minority and majority investment positions and prefers companies with strong market positions and growth potential. The Firm generally pursues platform acquisitions valued from €1 to €5 billion. Apax Partners was formed in 1981 and is based in London.


DEAL STATS #
Overall 150 of 239
Sector (Healthcare Services) 10 of 14
Type (Secondary Buyout) 24 of 60
State (Florida) 1 of 5
Country (United States) 57 of 96
Year (2013) 5 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-10-09 Norcraft Companies, Inc.

Eagan, Minnesota, United States

Norcraft Companies, Inc. is a manufacturer of kitchen and bathroom cabinetry in the United States and Canada. Norcraft provides its customers with a single source for a broad range of high-quality cabinetry, including stock and semi-custom cabinets manufactured in both framed and frameless (full access) construction. Norcraft was formed in 1966 and is based in Eagan, Minnesota.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-12-30 Bob's Discount Furniture, Inc.

Manchester, Connecticut, United States

Bob's Discount Furniture operates as a furniture retailer in the Northeast. It offers living room products, such as fabrics, leather, sectionals, and recliners; bedroom furniture; and dining room products.

Sell -

Seller(S) 2

SELLER

Norwest Mezzanine Partners

Minneapolis, Minnesota, United States

Investor Investor Investor Investor Investor

website


Category Mezzanine Finance Firm
Founded 2000
PE ASSETS 2.2B USD
SizeLarge
Type Sector Agnostic
DESCRIPTION

Norwest Mezzanine Partners (NMP) is an independent investment firm focused on providing junior capital to support transactions initiated by private equity sponsors. NMP looks to commit up to $50 million per investment. Prospective transaction situations can include buyouts, acquisitions, leveraged buildups or consolidations, recapitalizations, and going privates. NMP will consider opportunities in a wide range of industries, including distribution, manufacturing, healthcare, and consumer products. Norwest Mezzanine Partners is affiliated with private equity firm Norwest Equity Partners. NMP was formed in 2000 and is based in Minneapolis, Minnesota.


DEAL STATS #
Overall 27 of 50
Sector (Healthcare Services) 3 of 5
Type (Secondary Buyout) 11 of 21
State (Florida) 1 of 2
Country (United States) 26 of 48
Year (2013) 5 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-10-14 Longwood Elastomers, Inc.(dba Longwood Industries)

Greensboro, North Carolina, United States

Longwood Industries, uses specialized knowledge and technological expertise to design and manufacture a variety of rubber, plastic and specialty products used in the automotive, railroad, food processors and marine industry sectors. Longwood’s quality-driven approach provides unmatched value to its customers along with cost-competitive solutions and dependable delivery.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-12-05 Avtron Aerospace, Inc.

Cleveland, Ohio, United States

Avtron Aerospace, Inc. is a designer and manufacturer of electrical, electronic, and hydraulic aircraft component test solutions for the global commercial and military aerospace markets. Avtron Aerospace was founded in 1953 and is based in Cleveland, Ohio.

Sell -
SELLER

Odyssey Investment Partners

New York, New York, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1997
PE ASSETS 5.0B USD
SizeMega
Type Sector Agnostic
DESCRIPTION

Odyssey Investments is a private equity firm that seeks control/majority investments in middle-market companies. Odyssey looks to back existing management and make investments in the form of leveraged acquisitions, growth financings and recapitalizations. Sectors of interest include industrial manufacturing, business and financial services, aerospace products and services, and 'route-based services'. Odyssey Investment Partners is based in New York City with an additional office in Woodland Hills, California.


DEAL STATS #
Overall 19 of 32
Sector (Healthcare Services) 1 of 1
Type (Secondary Buyout) 12 of 17
State (Florida) 2 of 2
Country (United States) 18 of 31
Year (2013) 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-10-22 TNT Crane & Rigging, Inc.

Houston, Texas, United States

TNT Crane & Rigging, Inc. is a mobile crane rental company serving the Texas, Louisiana and Oklahoma region. TNT provides crane rental and rigging services primarily to the refinery, oil & gas, petrochemical, power and commercial end markets. The Company owns one of the largest and most diverse mobile crane fleets in the region, with cranes ranging in size from 15-tons to 800-tons.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-11-26 BarrierSafe Solutions International, Inc.

Lake Forest, Illinois, United States

BarrierSafe Solutions International, Inc. is a provider of barrier protection and infection control products. BarrierSafe owns the FoodHandler and Microflex brands and primarily sells disposable gloves to non-acute markets including foodservice, dental, laboratory, industrial and automotive.

Sell AU$615M