M&A Deal Summary

Cimarron Healthcare Capital, Leavitt Equity Partners, RAF Industries and WP Global Partners Acquire AMPS

On April 20, 2017, private equity firm Cimarron Healthcare Capital, private equity firm Leavitt Equity Partners, private equity firm RAF Industries and asset manager WP Global Partners acquired information technology company AMPS

Acquisition Highlights
  • This is Cimarron Healthcare Capital’s 1st, Leavitt Equity Partners’ 2nd, RAF Industries’ 1st and WP Global Partners’ 1st transaction in the Information Technology sector.
  • This is Cimarron Healthcare Capital’s 2nd, Leavitt Equity Partners’ 5th, RAF Industries’ 15th and WP Global Partners’ 3rd transaction in the United States.
  • This is Cimarron Healthcare Capital’s 1st, Leavitt Equity Partners’ 1st, RAF Industries’ 2nd and WP Global Partners’ 1st transaction in Arizona.

M&A Deal Summary

Date 2017-04-20
Target AMPS
Sector Information Technology
Buyer(s) Cimarron Healthcare Capital
Leavitt Equity Partners
RAF Industries
WP Global Partners
Deal Type Recapitalization

Target

AMPS

Phoenix, Arizona, United States
AMPS provides its services to mid-sized and large employers, health plans, and municipalities to reduce healthcare expenditures without negatively affecting member benefits or health outcomes. AMPS is a national leader in reference based reimbursement, the non-PPO based health plan delivery model that has proven to reduce costs for employers and healthcare plans by 30% or more over conventional PPO options. AMPS also specializes in the review and audit of large healthcare bills prior to payment. AMPS was founded in 2005 and is based in Phoenix, Arizona.

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Buyer(S) 4

DESCRIPTION

Cimarron Healthcare Capital is a private equity firm focused on opportunities in the healthcare sector. The Firm pursues lower middle-market companies with $10 to $100 million of revenue where it can commit $10 to $30 million of equity. Prospective transaction situations include leveraged buyouts, majority & minority recapitalizations, growth equity, management-led buyouts, industry consolidations, and corporate carve-outs. Cimarron Healthcare Capital was formed in 2014 and is based in Salt Lake City, Utah.


DEAL STATS #
Overall 2 of 7
Sector: Information Technology M&A 1 of 1
Type: Recapitalization M&A Deals 1 of 3
State: Arizona M&A 1 of 1
Country: United States M&A 2 of 7
Year: 2017 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-01-01 Linen King

Tulsa, Oklahoma, United States

Linen King is a provider of outsourced healthcare laundry services to hospitals and healthcare facilities across the mid-South US. Linen King was established in 1999 and is based in Tulsa, Oklahoma.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-09-10 Infusion for Health

Thousand Oaks, California, United States

Infusion for Health is an infusion therapy MSO providing services to Infusion for Health, the premier provider of infusion treatment services to patients in the Los Angeles market. Infusion for Health is based in Thousand Oaks, California.

Buy -
Buyer
DESCRIPTION

Leavitt Equity Partners is the private equity arm of Leavitt Partners, a healthcare focused consulting firm. Leavitt looks to partner with and invest in growth-oriented healthcare services companies throughout the US. Leavitt Equity Partners was formed in 2014 and is headquartered in Salt Lake City, Utah.


DEAL STATS #
Overall 5 of 23
Sector: Information Technology M&A 2 of 2
Type: Recapitalization M&A Deals 1 of 1
State: Arizona M&A 1 of 1
Country: United States M&A 5 of 23
Year: 2017 M&A 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-11-21 Veridicus Health

Salt Lake, Utah, United States

Veridicus Health is a provider of a comprehensive and customizable pharmacy solutions. It offers clinical care management, medication therapy management and pharmacy benefit management services.

Sell $75M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-08-01 OnPoint Medical Group

Highlands Ranch, Colorado, United States

OnPoint Medical Group is a physician-led network of skilled Primary and Urgent care providers who are committed to expanding access to quality healthcare in the most effective and affordable manner possible. OnPoint Medical Group was founded in 2012 and is based in Highlands Ranch, Colorado.

Buy -
Buyer

RAF Industries

Bala Cynwyd, Pennsylvania, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1979
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

RAF Industries is a private investment group focused on acquiring manufacturing and service-oriented companies that produce both industrial and consumer products in the US. The company has a preference for businesses with strong management wishing to partner with RAF post-acquisition. For platform acquisitions, RAF generally looks for businesses with at least $5 million in cash-flow. The Firm targets businesses valued from $15 to $150 million. RAF Industries is particularly interested in the areas of building and DIY products, products, and services geared towards enhancing the elderly population's lifestyle, as well as products or services provided to high-end consumers. RAF Industries was formed in 1979 and is based in Bala Cynwyd, Pennsylvania.


DEAL STATS #
Overall 15 of 19
Sector: Information Technology M&A 1 of 1
Type: Recapitalization M&A Deals 1 of 1
State: Arizona M&A 2 of 2
Country: United States M&A 15 of 18
Year: 2017 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-01-07 Cool Gear International

Plymouth, Massachusetts, United States

Cool Gear is a designer and manufacturer of innovative hydration bottles and food storage containers which feature patented, embedded freezer gel elements that keep drinks and food cold. The company sells its products to big-box retailers, drug store chains, supermarkets and gift stores in fifteen countries around the world.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-07-15 Steamist

Rutherford, New Jersey, United States

Steamist is a manufacturer of steam bath products for the commercial and residential markets. Steamist was established in 1958 and is based in Rutherford, New Jersey.

Sell -
Buyer

WP Global Partners

Investor Investor Investor Investor Investor


Category Asset Manager
Founded 2005
PE ASSETS 6.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

WP Global Partners is an asset management firm that looks to offer clients exposure to private equity, venture capital, and private debt investments through research based investment programs. Within private equity, WP looks to invest $5 to $25 million in recurring revenue oriented businesses valued up to $500 million. WP Global Partners was formed in 2005 and is headquartered in Chicago, Illinois.


DEAL STATS #
Overall 3 of 17
Sector: Information Technology M&A 1 of 3
Type: Recapitalization M&A Deals 1 of 1
State: Arizona M&A 1 of 1
Country: United States M&A 3 of 17
Year: 2017 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-08-25 Fast Pace Health

Waynesboro, Tennessee, United States

Fast Pace Health is an independent provider of urgent care and primary care services in Tennessee. The company provides convenient and affordable healthcare services to rural markets throughout Tennessee and Kentucky. It provides treatment for a wide range of illnesses, injuries, and common conditions, in addition to diagnostic and screening services. Fast Pace Health was founded in 2009 and is based in Waynesboro, Tennessee.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-02-01 Excelin Health

Irving, Texas, United States

Excelin Health owns and operates home health and hospice agencies across the country. The company is focused on ensuring safe and smooth transitions back home from hospital stays, and providing professional skilled nursing and therapies. Excelin Health was founded in 2017 and is based in Irving, Texas.

Buy -