M&A Deal Summary

GHO Capital Partners and Goldman Sachs Merchant Banking Acquire DNA Diagnostics Center

On October 13, 2015, private equity firms GHO Capital Partners and Goldman Sachs Merchant Banking acquired life science company DNA Diagnostics Center from WindRose Health Investors for 110M USD

Acquisition Highlights
  • This is GHO Capital Partners’ 1st and Goldman Sachs Merchant Banking’s 1st transaction in the Life Science sector.
  • This is GHO Capital Partners’ and Goldman Sachs Merchant Banking’s 48th largest (disclosed) transaction.
  • This is GHO Capital Partners’ 1st and Goldman Sachs Merchant Banking’s 83rd transaction in the United States.
  • This is GHO Capital Partners’ 1st and Goldman Sachs Merchant Banking’s 4th transaction in Ohio.
Investment Fate
  • DNA Diagnostics Center was sold to a publicly-traded strategic buyer in 2021.

M&A Deal Summary

Date 2015-10-13
Target DNA Diagnostics Center
Sector Life Science
Buyer(s) GHO Capital Partners
Goldman Sachs Merchant Banking
Sellers(s) WindRose Health Investors
Deal Type Secondary Buyout
Deal Value 110M USD
Advisor(s) Robert W. Baird & Co., Inc. (Financial)
Hogan Lovells (Legal)

Target

DNA Diagnostics Center

Fairfield, Ohio, United States
website
DNA Diagnostics Center is a provider of private DNA testing services for paternity and other family relationships, forensics, cell line authentication, and ancestry. DDC provides products approved by the FDA and EMA, and is accredited by the American Association of Blood Banks (AABB), The Ministry of Justice, The College of American Pathologists (CAP), and The Clinical Laboratory Improvement Amendment (CLIA). DNA Diagnostics Center was founded in 1995 and is based in Fairfield, Ohio.

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Buyer(S) 2

Buyer
DESCRIPTION

GHO Capital Partners is a private investment firm focused on the healthcare sector. The Firm will consider opportunities throughout Europe and seeks well-established, profitable businesses that have the potential to deliver a combination of double-digit top line growth, significant efficiency gains and international expansion. GHO Capital Partners was established in 2014 and is based in London.


DEAL STATS #
Overall 1 of 18
Sector (Life Science) 1 of 12
Type (Secondary Buyout) 1 of 10
State (Ohio) 1 of 1
Country (United States) 1 of 8
Year (2015) 1 of 2
Size (of disclosed) 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-12-02 Quotient Sciences

Nottingham, United Kingdom

Quotient Sciences is a provider of outsourced, early-stage drug development services to the pharmaceutical industry. Quotient Sciences has brought innovation to the pharmaceutical services sector through its unique Translational Pharmaceutics® platform, which is proven to accelerate development timelines, reduce development costs, and drive improvement in R&D productivity. Quotient Sciences is based in Nottingham, England.

Buy -
Buyer

Goldman Sachs Merchant Banking

New York, New York, United States

website


Category Private Equity Firm
Founded 1986
PE ASSETS 155.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Goldman Sachs Merchant Banking Division is the investment arm of Goldman Sachs. The primary corporate investment group within the Merchant Banking Division is Goldman Sachs' direct investment arm. GS's direct investment arm consists of GS Capital Partners, GS Mezzanine Partners, and GS Growth Partners. GS Capital Partners is the direct corporate equity investment group which seeks LBO, recapitalization, and growth investments to help fund acquisitions, expansions, recapitalizations, restructurings, buyouts, and take privates. GS Capital Partners looks to invest between $50 and $800 million in opportunities in North/South America, Europe, Asia. GS Mezzanine Partners is the junior capital arm of Goldman Sachs. GS Mezzanine looks to invest between $200 million and and $800 million in transactions valued up to $10 billion. Investment proceeds are used to fund leveraged buyouts, expansion financings, recapitalizations, acquisitions, and restructurings. GS Growth looks to invest in growth equity transactions. The unit seeks to commit $20 to $200 million per investment. Other units within GS's merchant banking division include Real Estate, Infrastructure, and Urban Investments. Goldman Sachs Merchant Banking Division is based in New York City.


DEAL STATS #
Overall 118 of 178
Sector (Life Science) 1 of 6
Type (Secondary Buyout) 37 of 63
State (Ohio) 4 of 5
Country (United States) 83 of 122
Year (2015) 14 of 16
Size (of disclosed) 48 of 52
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-10-05 Wolverine Advanced Materials

Dearborn, Michigan, United States

Wolverine Advanced Materials LLC is a manufacturer of highly engineered critical automotive components and customized technology solutions for the energy, transportation and industrial markets.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-11-16 GCA Services Group

Cleveland, Ohio, United States

GCA Services Group, Inc. is a provider of quality facility services, including janitorial/custodial services, contamination control for cleanroom manufacturing, facilities operations and maintenance services, grounds and athletic field management services, diversified staffing, and more.

Buy -

Seller(S) 1

SELLER
DESCRIPTION

MTS Health Investors LLC is a specialist private investment firm focused on opportunities in the services sectors of the healthcare industry. Specific areas of interest include managed care/health insurance, healthcare providers, distributors of medical/products and providers of outsourced services. MTS also invests in low-technology medical product manufacturers. MTS makes equity investments in US based companies valued between $25 and $300 million. Prospective transaction types include buyouts, divestitures, recapitalizations, take-privates, acquisition financings, and growth financings. MTS Health Investors was formed in 2000 and is based in New York City.


DEAL STATS #
Overall 10 of 25
Sector (Life Science) 1 of 3
Type (Secondary Buyout) 3 of 7
State (Ohio) 1 of 1
Country (United States) 10 of 25
Year (2015) 3 of 3
Size (of disclosed) 6 of 9
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-09-29 TrustHCS

Springfield, Missouri, United States

TrustHCS is a provider of outsourced coding and health information management services. TrustHCS partners with U.S. hospitals, physician groups, and healthcare systems to provide a complete offering of revenue cycle management services. Trust HCS was formed in 2010 and is based in Springfield, Missouri.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-01-08 Shearwater Health

Nashville, Tennessee, United States

Shearwater Health is a provider of offshore clinical resources serving U.S. healthcare companies. Its clinical process outsourcing offering provides intelligent, patient-centered solutions that lower costs and improve outcomes for healthcare payers, providers, and service companies. Shearwater Health was founded in 1973 and is based in Nashville, Tennessee.

Buy -