M&A Deal Summary

Curo Health Services Acquires SouthernCare

On May 9, 2014, Curo Health Services acquired healthcare services company SouthernCare from Kohlberg & Company and Barings Private Equity

Acquisition Highlights
  • This is Curo Health Services’ 1st transaction in the Healthcare Services sector.
  • This is Curo Health Services’ 1st transaction in the United States.
  • This is Curo Health Services’ 1st transaction in Alabama.

M&A Deal Summary
Date 2014-05-09
Target SouthernCare
Sector Healthcare Services
Buyer(s) Curo Health Services
Sellers(s) Kohlberg & Company
Barings Private Equity
Deal Type Add-on Acquisition

Target

SouthernCare

Birmingham, Alabama, United States
website
SouthernCare is one of the independent providers of hospice services in the U.S., with 63 operations located throughout the Southeast and the Midwest.

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Buyer(S) 1

Buyer

Curo Health Services

Mooresville, North Carolina, United States

website

Category Company
Founded 2010
Sector Healthcare Services
DESCRIPTION

Curo Health Services is a provider of home healthcare and hospice services throughout various communities across the country. Guided by a patient’s physician, Curo’s team of clinicians combine clinical expertise with dedicated and compassionate care to help patients increase their independence and live a better quality of life.

DEAL STATS #
Overall 1 of 2
Sector (Healthcare Services) 1 of 2
Type (Add-on Acquisition) 1 of 2
State (Alabama) 1 of 1
Country (United States) 1 of 2
Year (2014) 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-01-27 New Century Hospice

Dallas, Texas, United States

New Century Hospice is a provider of hospice services to patients, families and healthcare providers. The Management Team of Century Hospice has, combined, over 50 years of hospice experience.

Buy -

Seller(S) 2

SELLER

Kohlberg & Company

Mount Kisco, New York, United States

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 1987
PE ASSETS 11.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Kohlberg & Company is a private equity firm which acquires middle-market companies with consistent cash flow, and underperforming companies with operational deficiencies. Kohlberg looks to commit $100 to $500 million of equity capital in opportunities valued from $200 million to $2 billion. Kohlberg generally looks for opportunities in the manufacturing and service sectors, however the Firm will also selectively consider businesses in food and healthcare. Kohlberg tends not to consider technology or communications companies. Kohlberg & Company was formed in 1987 and has offices in Mt. Kisco, New York.

DEAL STATS #
Overall 23 of 47
Sector (Healthcare Services) 3 of 5
Type (Add-on Acquisition) 10 of 18
State (Alabama) 1 of 1
Country (United States) 22 of 46
Year (2014) 2 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-05-07 Phillips-Medisize

Hudson, Wisconsin, United States

Phillips-Medisize Corp. is a designer and manufacturer of highly engineered finished devices, sub-assemblies, and components that are primarily developed and manufactured for medical end market applications.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-07-04 Troon Golf

Scottsdale, Arizona, United States

Troon is a golf and club-related leisure and hospitality services company, providing a variety of services at 620-plus locations around the globe, including managing 640-plus 18-hole equivalent golf courses. Troon was founded in 1990 and is based in Scottsdale, Arizona.

Buy -
SELLER

Barings Private Equity

Investor Investor

website

Category Private Equity Firm
Founded 1991
PE ASSETS 5.7B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Barings Private Equity is the private equity arm of global asset management firm Barings. The Group looks to invest in mezzanine, distressed, and other private equity transactions including secondaries and funds. Sectors of interest include manufacturing, business services, distribution, consumer products, consumer services, food products, packaging, and healthcare. Barings Private Equity was originally established in 1991 and is based in Charlotte, North Carolina.

DEAL STATS #
Overall 5 of 37
Sector (Healthcare Services) 1 of 1
Type (Add-on Acquisition) 4 of 23
State (Alabama) 1 of 1
Country (United States) 5 of 33
Year (2014) 1 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-04-21 Van Pool

Wilbraham, Massachusetts, United States

Van Pool is a best-in-class provider of transportation services for special needs and homeless students in Massachusetts, Connecticut, and New Hampshire. Van Pool was founded in 1980 and is based in Wilbraham, Massachusetts.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-05-13 MEGTEC Systems

De Pere, Wisconsin, United States

MEGTEC Systems, Inc. is a provider of an exhaust-air purification systems and dryers and coating systems for the production of electrodes for lithium-ion batteries. MEGTEC Systems was founded in 1997 and is based in De Pere, Wisconsin.

Sell $155M
Mergr

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