M&A Deal Summary

Linden Capital Partners Acquires Evolution Research Group

On May 30, 2018, private equity firm Linden Capital Partners acquired life science company Evolution Research Group from DFW Capital Partners

Acquisition Highlights
  • This is Linden Capital Partners’ 6th transaction in the Life Science sector.
  • This is Linden Capital Partners’ 28th transaction in the United States.
  • This is Linden Capital Partners’ 2nd transaction in New Jersey.

M&A Deal Summary
Date 2018-05-30
Target Evolution Research Group
Sector Life Science
Buyer(s) Linden Capital Partners
Sellers(s) DFW Capital Partners
Deal Type Secondary Buyout
Advisor(s) Harris Williams & Co.
Edgemont Capital Partners LP (Financial)
Ice Miller (Legal)

Target

Evolution Research Group

New Providence, New Jersey, United States
Evolution Research Group is an independent clinical research site business serving pharmaceutical companies and CROs, with a focus in neuroscience and other special populations. Evolution Research Group was founded in 2014 and is based in New Providence, New Jersey.

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Buyer(S) 1

Buyer

Linden Capital Partners

Chicago, Illinois, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2004
PE ASSETS 3.0B USD
Size Large
Type Sector Focused
DESCRIPTION

Linden LLC is a private equity firm that invests in businesses involved in the healthcare and life science sectors. However, the firm also executes any size private equity transaction between $10 million to $2 billion through the firm's alliance with Madison Dearborn Partners. Linden is not a venture capital investor. The firm specializes in investments in non-core businesses owned by large corporations, as well as traditional management buyouts of independent companies. Linden LLC was formed in 2004 and is based in Chicago, Illinois.

DEAL STATS #
Overall 28 of 48
Sector (Life Science) 6 of 10
Type (Secondary Buyout) 7 of 18
State (New Jersey) 2 of 3
Country (United States) 28 of 47
Year (2018) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-11-08 Young

Algonquin, Illinois, United States

Young develops, manufactures and markets supplies and equipment used by dentists, dental hygienists, dental assistants, and consumers. The Company's consumables product offering includes disposable and metal prophy angles, prophy cups and brushes, dental micro-applicators, moisture control products, infection control products, dental handpieces (drills) and related components, endodontic systems, orthodontic toothbrushes, flavored examination gloves, children's toothbrushes, and children's toothpastes. Young was founded in 1995 and is based in Algonquin, Illinois.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-06-04 Solara Medical Supplies

Chula Vista, California, United States

Solara Medical Supplies LLC is an independent distributor of continuous glucose monitors (“CGM”) in the United States and offers a comprehensive suite of direct-to-patient diabetes management supplies to patients throughout the country, including CGMs, insulin pumps and other diabetic supplies. Solara Medical Supplies was founded in 2002 and is based in Chula Vista, California.

Buy -

Seller(S) 1

SELLER

DFW Capital Partners

New York, New Jersey, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1983
PE ASSETS 600M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

DFW Capital Partners is a private equity firm that invests in high-growth middle-market service companies generating revenues up to $200 million. Specific service areas of interest include business services, industrial services, and healthcare services. Prospective transactions include growth capital financing, acquisition financing, management buyouts, and recapitalization. DFW will not invest in start-ups, real estate, or pure R&D companies. DFW Capital Partners was formed in 1983 and is based in Teaneck, New Jersey.

DEAL STATS #
Overall 19 of 26
Sector (Life Science) 4 of 4
Type (Secondary Buyout) 9 of 12
State (New Jersey) 4 of 5
Country (United States) 19 of 26
Year (2018) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-04-17 ReSource Pro

New York, New York, United States

ReSource Pro is a provider of outsourced business process management solutions within the property & casualty insurance market. The Company provides administrative services across the insurance policy lifecycle for brokers, managed general agents, carriers and third-party administrators. ReSource Pro was founded in 2003 and is based in New York.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-06-29 AQUALIS

Morrisville, North Carolina, United States

AQUALIS is a provider of post-construction stormwater management to the commercial, retail, industrial, hospitality, residential, and governmental industries through stormwater consulting, inspection, preventative maintenance, and repair services. AQUALIS was formed in 2001 and is based in Morrisville, North Carolina.

Buy -
Mergr

Product

Company

Legal