M&A Deal Summary

Beverly Capital and Sonova Holding Acquire Alpaca Audiology

On January 13, 2022, private equity firm Beverly Capital and Sonova Holding acquired medical products company Alpaca Audiology from Thompson Street Capital Partners and Northstar Capital for 310M USD

Acquisition Highlights
  • This is Beverly Capital’s 1st and Sonova Holding’s 4th transaction in the Medical Products sector.
  • This is Beverly Capital’s and Sonova Holding’s 3rd largest (disclosed) transaction.
  • This is Beverly Capital’s 14th and Sonova Holding’s 3rd transaction in the United States.
  • This is Beverly Capital’s 1st and Sonova Holding’s 1st transaction in Missouri.

M&A Deal Summary

Date 2022-01-13
Target Alpaca Audiology
Sector Medical Products
Buyer(s) Beverly Capital
Sonova Holding
Sellers(s) Thompson Street Capital Partners
Northstar Capital
Deal Type Add-on Acquisition
Deal Value 310M USD

Target

Alpaca Audiology

Springfield, Missouri, United States
website
Alpaca Audiology is an audiology negotiating network designed to protect the profession and future of Audiology. The company was formed with the belief that clinics and their respective patients would benefit from collective purchasing power. By uniting, members of Alpaca have created the ability to obtain bottom line pricing while maintaining personal and professional integrity. Alpaca Audiology was founded in 2011 and is based in Springfield, Missouri.

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Buyer(S) 2

Buyer

Beverly Capital

Evanston, Illinois, United States

website


Category Private Equity Firm
Founded 2010
Size Small
Type Sector Focused
DESCRIPTION

Beverly Capital LLC is a private investment firm that provides equity and mezzanine financing to lower middle market companies. Beverly targets profitable companies with $2 to $8 million of EBITDA. Areas of interest includes healthcare and outsourced business services. Prospective transaction situations include recapitalizations, minority growth investments, and strategic acquisitions. Beverly Capital LLC is based in Highland Park, Illinois.


DEAL STATS #
Overall 15 of 15
Sector (Medical Products) 1 of 1
Type (Add-on Acquisition) 1 of 1
State (Missouri) 1 of 1
Country (United States) 14 of 14
Year (2022) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-06-15 ITS Logistics

Sparks, Nevada, United States

ITS Logistics is a third-party logistics provider that delivers a variety of services in supply chain management, freight logistics, distribution/fulfillment, and transportation management. ITS Logistics was founded in 1999 and is based in Sparks, Nevada.

Sell -
Buyer

Sonova Holding

Staefa, Switzerland

website


Category Company
Founded 1947
Sector Healthcare Services
Employees14,922
Revenue 3.4B CHF (2022)
DESCRIPTION

Sonova Holding is the world's leading provider of hearing systems, announced today that it has successfully completed its acquisition of InSound Medical Inc., Newark, USA. InSound Medical developed the first extended wear hearing system which is placed deep in the ear canal and totally invisible from the outside, and markets it under the Lyric brand. The total transaction price is made up of two components: an up-front cash consideration of USD 75 million and earn-out payments which depend on the company's financial success going forward. The regulatory approvals needed for the transaction have been obtained. Sonova Holding was founded in 1947 and is based in Staefa, Switzerland.


DEAL STATS #
Overall 7 of 7
Sector (Medical Products) 4 of 4
Type (Add-on Acquisition) 5 of 5
State (Missouri) 1 of 1
Country (United States) 3 of 3
Year (2022) 1 of 1
Size (of disclosed) 3 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-05-07 Sennheiser Consumer Division

Wedemark, Germany

Sennheiser Consumer Division provides headphones and hearables for private customers.

Buy €200M

Seller(S) 2

SELLER

Thompson Street Capital Partners

St. Louis, Missouri, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 2001
PE ASSETS 2.6B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Thompson Street Capital Partners is a private equity firm that targets control stakes in profitable, mid-sized North American companies with $5 to $20 million of EBITDA. Thompson Street looks for family businesses, private companies seeking liquidity, corporate divestitures, and public companies going private. Areas of interest include healthcare services, business services, electronics, information technology, and engineered products companies. Thompson Street will not consider investments in start-ups, early stage companies, or real estate. Thompson Street Capital was founded in 2000 and is based in St. Louis, Missouri.


DEAL STATS #
Overall 38 of 42
Sector (Medical Products) 2 of 2
Type (Add-on Acquisition) 19 of 21
State (Missouri) 5 of 5
Country (United States) 38 of 42
Year (2022) 1 of 5
Size (of disclosed) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-12-03 Domaille Engineering

Rochester, Minnesota, United States

Domaille Engineering is a provider of polishing machines and fixtures, inspection equipment and associated engineered products for the rapidly growing fiber-optic cable market. The Company also engineers and manufactures complex, mission-critical products for the defense, aerospace, national security, telecommunications, energy and medical sectors. Domaille Engineering was founded in 1990 and is based in Rochester, Minnesota.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-01-25 Infinity Behavioral Health Services

Lauderdale Lakes, Florida, United States

Infinity Behavioral Health Services is a provider of revenue cycle management services for the behavioral health industry. Infinity Behavioral Health Services is based in Lauderdale Lakes, Florida.

Sell -
SELLER

Northstar Capital

Minneapolis, Minnesota, United States

Investor Investor Investor Investor Investor

website


Category Mezzanine Finance Firm
Founded 1993
PE ASSETS 1.7B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Northstar Capital is a mezzanine finance firm that provides junior capital to middle-market companies operating in the value-added distribution, light manufacturing, business services, financial services, education, and specialty healthcare sectors. Northstar's typical investment size is $5 to $30 million in businesses generating sales of $20 to $300 million with an EBITDA of at least $3 million. Prospective companies have stable cash flows and sustainable margins. Investments typically have maturities of five to eight years. Northstar does not invest in start-ups, real estate development, natural resource exploration, or high technology companies. Northstar Capital was formed in 1993 and is based in Minneapolis, Minnesota.


DEAL STATS #
Overall 67 of 75
Sector (Medical Products) 2 of 2
Type (Add-on Acquisition) 22 of 26
State (Missouri) 3 of 3
Country (United States) 65 of 72
Year (2022) 1 of 9
Size (of disclosed) 2 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-12-21 Rustic Bakery

Novato, California, United States

Rustic Bakery is a specialty foods company that manufactures and markets a growing portfolio of artisanal products, including crackers, crisps, cookies, and biscuits. Rustic Bakery manufactures its organic, non-GMO products with locally sourced ingredients at its production facility, where it controls a proprietary production process to maintain exceptional product quality. Rustic Bakery was founded in 2005 and is based in Novato, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-01-25 Infinity Behavioral Health Services

Lauderdale Lakes, Florida, United States

Infinity Behavioral Health Services is a provider of revenue cycle management services for the behavioral health industry. Infinity Behavioral Health Services is based in Lauderdale Lakes, Florida.

Sell -