M&A Deal Summary

Levine Leichtman Capital Partners Acquires Capsa Healthcare

On September 11, 2017, mezzanine finance firm Levine Leichtman Capital Partners acquired medical products company Capsa Healthcare from Keystone Capital and Midwest Mezzanine Funds

Acquisition Highlights
  • This is Levine Leichtman Capital Partners’ 2nd transaction in the Medical Products sector.
  • This is Levine Leichtman Capital Partners’ 54th transaction in the United States.
  • This is Levine Leichtman Capital Partners’ 3rd transaction in Ohio.

M&A Deal Summary

Date 2017-09-11
Target Capsa Healthcare
Sector Medical Products
Buyer(s) Levine Leichtman Capital Partners
Sellers(s) Keystone Capital
Midwest Mezzanine Funds
Deal Type Secondary Buyout

Target

Capsa Healthcare

Canal Winchester, Ohio, United States
website
Capsa Healthcare engages in developing and delivering innovative healthcare solutions for hospitals, long-term care, and retail pharmacy providers. Capsa Healthcare was founded in 1958 and is headquartered in Canal Winchester, Ohio.

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Buyer(S) 1

Buyer

Levine Leichtman Capital Partners

Beverly Hills, California, United States

Investor Investor Investor Investor Investor

website


Category Mezzanine Finance Firm
Founded 1984
PE ASSETS 12.9B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Levine Leichtman Capital Partners (LLCP) is a West Coast US based private investment firm that targets mezzanine and other structured equity investments in middle-market companies. The Firm has several funds, each with different strategies. LLCP's larger fund targets subordinated debt, preferred equity, and/or common equity investments in companies with $100 to $750 million of revenue. The Firm's smaller fund invests $5 to $15 million in emerging companies with less than $25 million in revenue. LLCP also invests in financially distressed businesses. LLCP was formed in 1984 and has offices in Beverly Hills, California; Chicago, Illinois; Dallas, Texas; New York City; and London.


DEAL STATS #
Overall 58 of 83
Sector (Medical Products) 2 of 2
Type (Secondary Buyout) 17 of 30
State (Ohio) 3 of 4
Country (United States) 54 of 68
Year (2017) 6 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-09-05 Therapeutic Research Center

Stockton, California, United States

Therapeutic Research Center is a provider of digital medication learning that updates, informs, and educates healthcare providers across the continuum of care. Therapeutic Research Center was founded in 1985 and is based in Stockton, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-12-22 Law Business Research

London, United Kingdom

Law Business Research is an independent publisher of research, data and analysis on international business law and international legal markets. The company prides itself on creating essential and unique information for its subscribers who are drawn from over 100 countries around the world. Law Business Research was founded in 1996 and is based in London, United Kingdom.

Buy -

Seller(S) 2

SELLER

Keystone Capital

Chicago, Illinois, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1994
PE ASSETS 420M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Keystone Capital is a private equity firm focused on acquiring family businesses, corporate divestitures, industry consolidations, and special situations. Keystone prefers lower middle-market, US-based businesses with EBITDA of $3 to $15 million. Target sectors include specialty manufacturing, business services/outsourcing, food processing and ingredients, publishing, instrumentation, optical components, and healthcare products/services. Keystone will not invest in start-ups, turnarounds, commodities, defense/government contractors, retail stores, or restaurants. Keystone Capital was formed in 1994 and is based in Chicago, Illinois.


DEAL STATS #
Overall 11 of 24
Sector (Medical Products) 1 of 1
Type (Secondary Buyout) 4 of 7
State (Ohio) 1 of 2
Country (United States) 11 of 24
Year (2017) 2 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-09-05 Atlas Die

Elkhart, Indiana, United States

Atlas Die is a manufacturer of custom-designed steel rule dies and chemically etched rotary dies and related tooling sold into the folding carton, label, business form, and crafts industries. The company went on to revolutionize steel rule diemaking with the development and introduction of laser technology into the die making process and later developed unique flexible rotary die making capabilities.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-10-21 Nature Soy

Philadelphia, Pennsylvania, United States

Nature Soy is a major supplier of soy and vegetarian food products to the US market, has been producing high quality soy products since 1990. Located in Philadelphia, the Company primarily serves the mid-Atlantic region with distribution channels reaching as far west as Chicago. Nature Soy's products include both traditional and specialty tofu, soy milk, rice noodles and soy puffs, all of which can be found in major Asian grocery stores, supermarkets and natural food stores, as well as restaurants in the Northeast. The Company strives to produce the best-tasting and freshest products, using non-GMO soy beans and its proprietary formulas to create a unique and desirable flavor profile.

Sell -
SELLER

Midwest Mezzanine Funds

Chicago, Illinois, United States

Investor Investor Investor Investor Investor

website


Category Mezzanine Finance Firm
Founded 1992
PE ASSETS 1.0B USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Midwest Mezzanine Funds (MMF) is a provider of junior capital to lower middle-market, US and Canadian companies. MMF looks to invest $4 to $15 million to support buyouts, acquisition financings, recapitalizations, and growth capital needs. Prospective companies generally have consistent profits ($3 million of EBITDA), low capital intensity, and sustainable competitive advantages. Broad areas of interest include manufacturing, value-added distribution, and services. MMF will not invest in high technology, energy, or real estate. Midwest Mezzanine was formed in 1992 and has offices in Chicago and Monroe, Michigan.


DEAL STATS #
Overall 38 of 55
Sector (Medical Products) 1 of 1
Type (Secondary Buyout) 18 of 24
State (Ohio) 1 of 1
Country (United States) 37 of 54
Year (2017) 3 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-07-31 Fluence Automation

Arlington Heights, Illinois, United States

Fluence Automation LLC provides mail and parcel sorting systems/hardware and related software and service revenue associated with the hardware as well as assets that will be leveraged for growth opportunities in the material handling and e-Commerce fulfillment markets. Fluence Automation is based in Arlington Heights, Illinois.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-11-17 RapcoHorizon

Jackson, Missouri, United States

RapcoHorizon is a vertically-integrated manufacturer of interconnect assemblies, audio, data and interface products, and specialty industrial wire. RapcoHorizon was founded in 1982 and is based in Jackson, Missouri.

Sell -