Buyout (LBO, MBO, MBI) • Medical Products

Fifth Street Capital and Riverside Partners Acquire IZI Medical

On April 1, 2009, lender Fifth Street Capital and private equity firm Riverside Partners acquired medical products company IZI Medical

Acquisition Context
  • This is Fifth Street Capital’s 3rd and Riverside Partners’ 3rd transaction in the Medical Products sector.
  • This is Fifth Street Capital’s 23rd and Riverside Partners’ 15th transaction in the United States.
  • This is Fifth Street Capital’s 1st and Riverside Partners’ 1st transaction in Maryland.
Investment Fate
  • IZI Medical was sold to a publicly-traded strategic buyer in 2011 for 93M USD.
  • IZI Medical was divested to a consortium of buyers in 2016.
  • IZI Medical was sold to a publicly-traded strategic buyer in 2022 for 138M GBP.

Explore All 542 Buyout (LBO, MBO, MBI) Medical Products Deals - Search the Database Free


M&A Deal Summary

Date April 1, 2009
Target IZI Medical
Sector Medical Products
Buyer(s) Fifth Street Capital
Riverside Partners
Deal Type Buyout (LBO, MBO, MBI)

Target Company

IZI Medical

Owings Mills, Maryland, United States
IZI Medical is a developer, manufacturer, and provider of medical consumable accessories used in radiology, radiation therapy, vertebroplasty, and image-guided surgery procedures. IZI has built a diverse portfolio of products backed by strong intellectual property and currently sells to more than 1,000 domestic customers as well as internationally across 25 countries. IZI Medical was formed in 1991 and is based in Owings Mills, Maryland.
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Buyers Overview 2

DESCRIPTION

Fifth Street Capital is a public investment firm focused on providing mezzanine financing to support expansions, acquisitions, recapitalizations, and management buyouts of middle-market US based companies. Fifth Street looks to invest between $5 and $50 million per transaction. Sectors of interest include consumer products, healthcare services, manufacturing, medical device manufacturing, food services, business services, restaurants, speciality retail, logistics, and value added distribution. Fifth Street Capital is based in White Plains, New York.


Deal Context for Buyer #
Overall 24 of 70
Sector: Medical Products 3 of 5
Type: Buyout (LBO, MBO, MBI) 11 of 27
State: Maryland 1 of 3
Country: United States 23 of 69
Year: 2009 2 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2009-03-10 Actient Pharmaceuticals

Deerfield, Illinois, United States

Actient Pharmaceuticals, LLC (Actient) is a healthcare company focused on acquiring and operating specialty pharmaceutical companies and products. Actient targets opportunities that include products which are already approved or currently marketed, as well as late-stage development drugs.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2009-06-24 Insight Pharmaceuticals

Langhorne, Pennsylvania, United States

Insight Pharmaceuticals Corp. is a consumer products company provides consumer OTC products.

Buy -
Buyer

Riverside Partners

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1989
PE ASSETS 1.0B USD
Size Large
Type Sector Focused
DESCRIPTION

Riverside Partners is a specialist private equity firm focused on investments in healthcare and technology companies located throughout North America. The Firm has a particular interest in companies that are founder or family owned. Target companies are generally profitable with $3 to $15 million of EBITDA. Specific areas of interest within healthcare include suppliers to biopharmaceutical and medical device companies, medical technology and equipment, medical instrumentation, dental products and services, diagnostics and disposables, and specialized healthcare services. Areas of interest within technology include, analytical instrumentation, semiconductor equipment, industrial communications, wireless components, homeland security, and power generation technology. Transaction situations include partial or complete buyouts, recapitalizations, growth equity, divestitures, take privates, and strategic add-ons. Riverside Partners was formed in 1989 and is based in Boston, Massachusetts.


Deal Context for Buyer #
Overall 15 of 42
Sector: Medical Products 3 of 5
Type: Buyout (LBO, MBO, MBI) 9 of 18
State: Maryland 1 of 1
Country: United States 15 of 42
Year: 2009 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2008-10-01 Alteris Renewables

Wilton, Connecticut, United States

Earth Friendly Energy Group Holdings LLC (dba Alteris Renewables) was a renewable energy company in the Northeast with more than 30 MW installed. Earth Friendly Energy Group was formed in 1980 and was based in Wilton, Connecticut.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2009-07-07 Vocollect

Pittsburgh, Pennsylvania, United States

Vocollect, Inc. is the leader in creating and providing voice-centric solutions for mobile workers in distribution and warehouse environments worldwide. The speech recognition software and extreme recognition accuracy of in-vocabulary speech helps customers achieve a higher level of business performance through voice. Every day over 300,000 workers worldwide use Vocollect’s comprehensive voice solutions to distribute more than $3 billion in goods from distribution centers and warehouses to customer locations.

Buy -