Cressey Mergers and Acquisitions Summary

Private Equity Firm Profile

In the last 3 years, Cressey has acquired 3 companies. It has also invested in 2 others.

Cressey’s most common sectors for investment arehealthcare services (50%) and medical products (15%) . The Firm’s most common investment types include buyout (lbo, mbo, mbi) (33%) and secondary buyout (21%). In total, Cressey has invested in 16 US states and 2 different countries. Its largest (disclosed) acquisition occurred in 2004 when it acquired Select Medical Holdings for $2.3B.

In the last 3 years, Cressey has exited 5 companies. The Firm’s most common exit type is trade sale (46%). Cressey’s largest (disclosed) exit occurred in 2014 when it sold Encompass Home Health for $750M.

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M&A Summary

  • M&A Total Activity55
    • M&A Buy Activity33
    • M&A Sell Activity22
  • Total Sectors Invested 10
  • Total Countries Invested 2
  • M&A Buy/Sell Connections 27
  • M&A Advisors 6

Cressey & Co. LP

155 N. Wacker Drive, Suite 4500,
Chicago, Illinois 60606
United States
(312) 945-5700
www.cresseyco.com
cresseychicago@cresseyco.com

Cressey & Company LP is a specialist private equity investment firm focused on buy-and-build opportunities in the healthcare sector. The firm invests in the range of $10 - $100 million and EBITA of at least $5 million. The firm specific areas of interest include hospitals, homecare, outpatient services, and specialty distribution. Types of transaction include buyout, growth and recapitalization. It also seeks controlling interest. Cressey & Company has offices in Chicago, Illinois and Nashville, Tennessee.


Investment Criteria

Sectors of Interest: Consumer Services, Healthcare Services, Life Science, Medical Products

Target Transaction Types: Buyout (LBO, MBO, MBI), Growth Capital, Recapitalization, Stake Purchase

Geographic Preferences: East US, Midwest US, South US, West US

Transaction Criteria Min Max
Target Revenue - -
Target EBITDA 5 -
Investment Size 10 100
Enterprise Value 50 300
values in millions of USD

M&A Summary

Buy vs Sell

Year ≤ '19 '20 '21 '22 '23 '24 T
Buy (1.0/yr) # 28 - 3 - 2 - 33
vol $3.4B $3.4B
Sell (1.0/yr) # 17 - 4 1 - - 22
vol $1.4B $1.4B
  55

Most Recent M&A

Company Date Value Type
HealthDrive Corp. 2023-08-22 - Secondary Buyout
Framingham, Massachusetts · www.healthdrive.com
InterMed Group, Inc. 2023-01-05 - Secondary Buyout
Alachua, Florida · www.intermed1.com
QualDerm Partners LLC 2022-11-01 - Secondary Sale
Brentwood, Tennessee · www.qualderm.com
Trella Health LLC 2021-11-16 - Growth Capital
Atlanta, Georgia · www.trellahealth.com
Home Care Pulse LLC 2021-08-04 - Growth Capital
Rexburg, Idaho · www.homecarepulse.com
Verisys Corp. 2021-07-16 - Secondary Sale
Louisville, Kentucky · www.verisys.com
Lifeway Mobility LLC 2021-06-23 - Recapitalization
Hartford, Connecticut · www.lifewaymobility.com
Sentage Corp. 2021-04-01 - Trade Sale
St. Petersburg, Florida · www.dentalservices.net
RestorixHealth 2021-03-21 - Secondary Sale
Metairie, Louisiana · www.restorixhealth.com
Statlab Medical Products, Inc. 2021-01-12 - Secondary Sale
McKinney, Texas · www.statlab.com
View All >>

M&A by Sector

Sector Current # Value All-time # Value
Healthcare Services 3 (30%) - 17 (50%) 3.4B (100%)
Medical Products 1 (10%) - 5 (15%) -
Consumer Services 1 (10%) - 2 (6%) -
Information Technology 1 (10%) - 2 (6%) -
Internet Software and Services 2 (20%) - 2 (6%) -
Software - - 2 (6%) -
Distribution 1 (10%) - 1 (3%) -
Education - - 1 (3%) -
Food 1 (10%) - 1 (3%) -
Life Science - - 1 (3%) -
Total 10 - 34 $3.4B

Acquisitions By Geo

State/Country Current # Value All-time # Value
United States 10 (100%) - 33 (97%) 3.4B (100%)
  Texas - - 5 (15%) 1.1B (31%)
  Tennessee - - 4 (12%) -
  Massachusetts 2 (20%) - 3 (9%) -
  Illinois 1 (10%) - 3 (9%) -
  Georgia 2 (20%) - 2 (6%) -
  Connecticut 1 (10%) - 2 (6%) -
  Florida 1 (10%) - 2 (6%) -
  Pennsylvania - - 2 (6%) 2.3B (69%)
  California - - 2 (6%) -
  Louisiana - - 2 (6%) -
  New York 1 (10%) - 1 (3%) -
  Iowa 1 (10%) - 1 (3%) -
  Idaho 1 (10%) - 1 (3%) -
  Wisconsin - - 1 (3%) -
  Utah - - 1 (3%) -
  Kentucky - - 1 (3%) -
Ireland - - 1 (3%) -
Domestic 10 (100%) - 33 (97%) 3.4B (100%)
Cross-border - - 1 (3%) -
Total 10 - 34 $3.4B

Acquisitions by Deal Type

Type Current # Value All-time # Value
Buyout (LBO, MBO, MBI) 1 (10%) - 11 (32%) -
Secondary Buyout 3 (30%) - 7 (21%) -
Growth Capital 3 (30%) - 6 (18%) -
Recapitalization 3 (30%) - 6 (18%) -
Venture - - 2 (6%) -
Going Private - - 1 (3%) 2.3B (69%)
Divestiture - - 1 (3%) 1.1B (31%)
Total 10 - 34 $3.4B

Exits by Deal Type

Type Total # Value
Secondary Sale 7 (32%) -
Trade Sale - Public Company 5 (23%) 1.2B (82%)
Trade Sale 5 (23%) 260M (18%)
Recapitalization 3 (14%) -
IPO 2 (9%) -
Total 22 $1.4B

Top M&A Advisors

Financial Deals
Triple Tree LLC
1
Brentwood Capital Advisors
1
CIT Capital Securities LLC
1
Legal Deals
Ropes & Gray
9
McDermott Will & Emery
1
Kirkland & Ellis
1

Deal Values

buy # Total
> $1B 2 $3.4B
TOTAL $3.4B
Largest Select Medical Holdings Corp.
$2.3B (2004-10-18)
sell # Total
$100M to $1B 3 $1.4B
< $100M 1 $38M
TOTAL $1.4B
Largest Encompass Home Health, Inc. (EHHI)
$750M (2014-11-24)

M&A Connections

Deals
Acquired from
Investor(s)
35%
12 (35%)
Strategic(s)
3%
1 (3%)
Exited to
Investor(s)
45%
10 (45%)
Strategic(s)
45%
10 (45%)

FAQ

What type of investor is Cressey & Co. LP?

Cressey & Co. LP is a private equity firm.

Where is Cressey & Co. LP headquartered?

Cressey & Co. LP is headquartered in Chicago, Illinois.

How much capital does Cressey & Co. LP have under management?

Cressey & Co. LP has 1.0B USD under management.

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