M&A Deal Summary

Patterson Companies Acquires AbilityOne

On September 15, 2003, Patterson Companies, Inc. acquired distribution company AbilityOne Corp. from Beecken Petty O'Keefe & Company (BPOC), Linden Capital Partners, Water Street Healthcare Partners and One Equity Partners for 575M USD

Acquisition Highlights
  • This is Patterson Companies’ 1st transaction in the Distribution sector.
  • This is Patterson Companies’ 2nd largest (disclosed) transaction.
  • This is Patterson Companies’ 2nd transaction in the United States.
  • This is Patterson Companies’ 1st transaction in Illinois.

M&A Deal Summary

Date 2003-09-15
Target AbilityOne Corp.
Sector Distribution
Buyer(s) Patterson Companies, Inc.
Sellers(s) Beecken Petty O'Keefe & Company (BPOC)
Linden Capital Partners
Water Street Healthcare Partners
One Equity Partners
Deal Type Add-on Acquisition
Deal Value 575M USD

Target

AbilityOne Corp.

Bolingbrook, Illinois, United States
website
AbilityOne Corp. is a distributor of rehabilitation and assistive device products used to speed recovery, improve mobility and aid independence for injured, aging and physically-challenged adults and children.

Search 159,180 Deals Now

SEARCH BY

  • Buyer Type (PE or Strategic)
  • Deal Size ($10M to $10B+)
  • Sector (60 Sectors)
  • Deal Type
  • Geography
  • & More

Try For Free 7-Day Free Trial

Buyer(S) 1

Buyer

Patterson Companies, Inc.

St. Paul, Minnesota, United States

website


Category Company
Founded 1877
SectorDistribution
Employees7,800
Revenue 5.5B USD (2020)
DESCRIPTION
Patterson Companies' corporate headquarters in St. Paul, Minnesota.
Patterson Companies' corporate headquarters in St. Paul, Minnesota.

Patterson is a specialty distributor serving the dental, veterinary and rehabilitation supply markets. Patterson's largest business unit is Patterson Dental. Patterson Dental has operations in the United States and Canada and is a full-service, value-added supplier to dentists, dental laboratories, institutions, and other healthcare professionals. Patterson Dental provides consumable products (including x-ray film, restorative materials, hand instruments and sterilization products); basic and advanced technology dental equipment; practice management and clinical software; patient education systems; and office forms and stationery. Patterson was originally established in 1877 and is based in St. Paul, Minnesota.


DEAL STATS #
Overall 2 of 20
Sector (Distribution) 1 of 8
Type (Add-on Acquisition) 2 of 11
State (Illinois) 1 of 2
Country (United States) 2 of 15
Year (2003) 1 of 1
Size (of disclosed) 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2002-04-02 Thompson Dental Co.

Columbia, South Carolina, United States

Thompson provides a wide range of consumable dental supplies, equipment and services. The company also offers proprietary practice management and clinical software, dental.com.

Buy $22M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2004-04-19 Medco Supply Company, Inc.

Tonawanda, New York, United States

Medco Supply Company, Inc. is a national distributor of sports medicine, first aid and medical supplies. Medco sells approximately 10,000 products through direct mail catalogs as well as through a sales force. Medco Supply Company was formed in 1955 and is based in Tonawanda, New York.

Buy -

Seller(S) 4

SELLER

Beecken Petty O'Keefe & Company (BPOC)

Chicago, Illinois, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1996
PE ASSETS 1.4B USD
SizeLarge
Type Sector Agnostic
DESCRIPTION

Beecken Petty O'Keefe & Company (BPOC) is a specialist private equity firm that targets investments in middle-market healthcare companies. Specific areas of interest within healthcare include, specialty distribution; provider and payor outsourcing; pharmacy, infusion, and home healthcare; outpatient an alternate site services; and medical products manufacturing with a focus on capital equipment. The Firm focuses on recapitalizations, buyouts, and growth capital investments. BPOC was formed in 1996 and is based in Chicago, Illinois.


DEAL STATS #
Overall 4 of 35
Sector (Distribution) 1 of 2
Type (Add-on Acquisition) 1 of 18
State (Illinois) 2 of 6
Country (United States) 4 of 34
Year (2003) 1 of 1
Size (of disclosed) 2 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2002-06-01 Digineer, Inc.

Plymouth, Minnesota, United States

Digineer, Inc. is a provider of technology and management consulting services.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2004-02-04 The Hygenic Corp.

Akron, Ohio, United States

Hygenic is a manufacturer of natural rubber, latex and synthetic rubber products primarily serving the medical and therapy/fitness industries as well as some other industrial applications.

Buy -
SELLER

Linden Capital Partners

Chicago, Illinois, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 2004
PE ASSETS 3.0B USD
SizeLarge
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 3 of 22
Sector (Distribution) 1 of 2
Type (Add-on Acquisition) 3 of 11
State (Illinois) 1 of 7
Country (United States) 3 of 22
Year (2003) 1 of 1
Size (of disclosed) 2 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2002-02-08 LifeStream International, Inc.

The Woodlands, Texas, United States

LifeStream International, Inc. is a developer, manufacturer and sold a broad range of products used during cardiopulmonary bypass procedures. Its product lines included items such as oxygenators, perfusion circuits and pumps that worked together to keep blood flowing and oxygenated when the heart was stopped during open-heart surgery.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2004-12-27 Sovereign Specialty Chemicals, Inc.

Chicago, Illinois, United States

Sovereign Specialty Chemicals Corporation was a consolidation of several brands of specialty chemicals. Sovereign was formed to build, through acquisition and internal growth, a worldwide provider of specialty chemical companies.

Sell $575M
SELLER

Water Street Healthcare Partners

Chicago, Illinois, United States

Investor Investor Investor

website


Category Private Equity Firm
Founded 2005
PE ASSETS 3.0B USD
SizeLarge
Type Sector Focused
DESCRIPTION

Water Street is a specialist private equity firm that targets investments in healthcare companies. Specific areas of interest within healthcare include diagnostic devices, medical products, pharmaceutical services, specialty distribution, specialty pharmaceuticals, and specialty services. Water Street targets non-core units of larger corporations and private middle-market companies. Transactions are typically valued between $50 and $500 million. Water Street does not invest in biotechnology, traditional healthcare facilities (hospitals, nursing homes) or early-stage companies without positive cash flow. Water Street was formed in 2005 and is based in Chicago, Illinois.


DEAL STATS #
Overall 3 of 31
Sector (Distribution) 1 of 2
Type (Add-on Acquisition) 3 of 19
State (Illinois) 1 of 2
Country (United States) 3 of 30
Year (2003) 1 of 1
Size (of disclosed) 4 of 11
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2002-02-08 LifeStream International, Inc.

The Woodlands, Texas, United States

LifeStream International, Inc. is a developer, manufacturer and sold a broad range of products used during cardiopulmonary bypass procedures. Its product lines included items such as oxygenators, perfusion circuits and pumps that worked together to keep blood flowing and oxygenated when the heart was stopped during open-heart surgery.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2005-03-21 Medex, Inc.

Hilliard, Ohio, United States

Medex, Inc. is a provider of system solutions for critical care medical products.

Sell $925M
SELLER

One Equity Partners

New York, New York, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 2001
PE ASSETS 10.0B USD
SizeMega
Type Sector Agnostic
DESCRIPTION

One Equity Partners (OEP) is a private equity firm that targets buyout and growth capital investments in North America, Europe, and Asia. OEP prefers to be the lead investor and typically commits $50 to $200 million per transaction. Sectors of interest include industrial products/services, consumer, retail, chemicals, media, communications, and healthcare. One Equity Partners was formed in 2001 and spun out of JP Morgan Chase in 2015. The Firm is based in New York City.


DEAL STATS #
Overall 1 of 44
Sector (Distribution) 1 of 2
Type (Add-on Acquisition) 1 of 28
State (Illinois) 1 of 3
Country (United States) 1 of 30
Year (2003) 1 of 1
Size (of disclosed) 16 of 20
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2003-04-11 IQVIA Holdings, Inc.

Durham, North Carolina, United States

IQVIA is a provider of advanced analytics, technology solutions, and contract research services to the life sciences industry in the Americas, Europe, Africa, and the Asia-Pacific.

Buy $1.7B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2005-03-04 Progress Rail Services Corp.

Albertville, Alabama, United States

Progress Rail is a provider of rail and transit products and services throughout North America.

Buy $405M