M&A Deal Summary

Seven Hills Capital, Northcreek Mezzanine, Harbert Mezzanine Capital and Wintrust Acquire Reliable Medical

On November 18, 2018, private equity firm Seven Hills Capital, Northcreek Mezzanine, mezzanine finance firm Harbert Mezzanine Capital and Wintrust acquired medical products company Reliable Medical

Acquisition Highlights
  • This is Seven Hills Capital’s 1st, Northcreek Mezzanine’s 2nd, Harbert Mezzanine Capital’s 1st and Wintrust’s 1st transaction in the Medical Products sector.
  • This is Seven Hills Capital’s 2nd, Northcreek Mezzanine’s 22nd, Harbert Mezzanine Capital’s 20th and Wintrust’s 15th transaction in the United States.
  • This is Seven Hills Capital’s 1st, Northcreek Mezzanine’s 1st, Harbert Mezzanine Capital’s 1st and Wintrust’s 1st transaction in Minnesota.

M&A Deal Summary
Date 2018-11-18
Target Reliable Medical
Sector Medical Products
Buyer(s) Seven Hills Capital
Northcreek Mezzanine
Harbert Mezzanine Capital
Wintrust
Deal Type Recapitalization

Target

Reliable Medical

Brooklyn Park, Minnesota, United States
Reliable Medical is a provider of complex rehab technology, clinical respiratory products, and durable medical equipment and supplies across Minnesota and parts of Western Wisconsin. The company serves a fragile patient base of pediatric and adult patients with conditions such as ALS, multiple sclerosis, cerebral palsy, a severe spinal cord injury, and stage four COPD, among others. Reliable Medical was formed in 1989 and is based in Brooklyn Park, Minnesota.

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Buyer(S) 4

Buyer

Seven Hills Capital

Investor Investor Investor

Category Private Equity Firm
Founded 2016
Size Small
Type Sector Focused
DESCRIPTION

Seven Hills Capital is a healthcare focused private equity firm that looks to acquire majority control of lower middle-market profitable companies with $1 to $20 million of EBITDA. Specific areas of interest include healthcare providers, outsourced healthcare services, post-acute care, behavioral health, medical staffing, and technology enabled healthcare services. Seven Hill Capital was formed in 2016 and is headquartered in Chicago, Illinois.

DEAL STATS #
Overall 2 of 3
Sector (Medical Products) 1 of 1
Type (Recapitalization) 1 of 1
State (Minnesota) 1 of 1
Country (United States) 2 of 3
Year (2018) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-02-28 VersiCare Group

Troy, Michigan, United States

VersiCare Group is a provider of home and community-based care for individuals of all ages with intellectual and developmental disabilities. VersiCare Group was founded in 2018 and is based in Troy, Michigan.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-09-01 ExperCare

Savannah, Georgia, United States

ExperCare is a multi-site provider of urgent care, primary care, and occupational medicine services. ExperCare was founded in 2009 and is based in Savannah, Georgia.

Buy -
Buyer

Northcreek Mezzanine

Category Private Equity Firm
Founded 2010
PE ASSETS 250M USD
Size Small
Type Sector Agnostic
DESCRIPTION

DEAL STATS #
Overall 22 of 29
Sector (Medical Products) 2 of 3
Type (Recapitalization) 5 of 6
State (Minnesota) 1 of 1
Country (United States) 22 of 29
Year (2018) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-12-08 BLR

Brentwood, Tennessee, United States

BLR, Inc. is an information service and technology company that strives to assist organizations to simplify compliance with state and federal legal requirements through information products including training programs, events, web portals, reports, and subscription services. BLR is based in Brentwood, Tennessee.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-12-17 ZRG Partners

Rochelle Park, New Jersey, United States

ZRG Partners is a progressive mid-sized global executive search firm that uses a proven, data-driven approach. For 19 years, clients have trusted ZRG Partners to recruit top talent around the world. ZRG Partners is recognized as one of the fastest-growing executive search firms in the world driven by the firm’s client-focused, results-driven approach grounded in technology and innovation. ZRG Partners was founded in 1999 and is based in Rochelle Park, New Jersey.

Sell -
Buyer

Harbert Mezzanine Capital

Investor Investor Investor Investor

Category Mezzanine Finance Firm
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Harbert Mezzanine Capital is the junior capital investment arm of asset manager Harbert Management Corporation. Harbert Mezzanine looks to invest $3 to $15 million of subordinated debt to support growth needs, acquisitions, recapitalizations, or management buyouts of mid-sized companies throughout the US. Harbert Mezzanine Capital is based in Nashville, Tennessee.

DEAL STATS #
Overall 20 of 28
Sector (Medical Products) 1 of 2
Type (Recapitalization) 6 of 7
State (Minnesota) 1 of 1
Country (United States) 20 of 28
Year (2018) 4 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-09-10 Statinmed Research

Dallas, Texas, United States

Statinmed Research is an operator of health care consultant company in the health economics and outcomes research (HEOR) discipline that provides research, consulting and targeted communications to global pharmaceutical, biotechnology, and health information companies. Statinmed Research was founded in 2007 and is based in Dallas, Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-02-20 IHP

Nashville, Tennessee, United States

Innovative Hearth Products is a manufacturer of indoor and outdoor fireplaces, fireplace inserts, free-standing stoves, gas log sets, venting products and accessories for the specialty retail, residential new construction and industrial markets. Based in Nashville, Tenn. IHP operates manufacturing facilities in Russellville, Ala., Santa Ana, Calif. and Auburn, Wash.

Buy -
Buyer

Wintrust

Rosemont, Illinois, United States
Category Company
Founded 1991
Sector Financial Services
Employees5,521
Revenue 2.3B USD (2023)
DESCRIPTION
Entrance to Wintrust's corporate headquarters in Rosemont, Illinois.
Entrance to Wintrust's corporate headquarters in Rosemont, Illinois.

Wintrust is a financial services company that provides traditional community banking services, commercial banking, wealth management services, commercial insurance premium financing, life insurance premium financing, mortgage origination, short-term accounts receivable financing, and certain administrative services, such as data processing of payrolls, billing and treasury management services. The Company serves the greater Chicago, Illinois and southern Wisconsin metropolitan areas. Wintrust was founded in 1991 and is based in Rosemont, Illinois.

DEAL STATS #
Overall 15 of 18
Sector (Medical Products) 1 of 1
Type (Recapitalization) 1 of 1
State (Minnesota) 1 of 1
Country (United States) 15 of 18
Year (2018) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-01-14 Generations Bancorp

Pewaukee, Wisconsin, United States

Generations Bancorp, Inc. is a provider of financial services.

Buy $30M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-02-20 Chicago Deferred Exchange

Chicago, Illinois, United States

Chicago Deferred Exchange Co. LLC is a premier provider of Qualified Intermediary services for taxpayers seeking to structure tax-deferred like-kind exchanges under Internal Revenue Code Section 1031. CDEC has successfully facilitated more than 8,000 like-kind exchanges in the past decade for taxpayers nationwide. These transactions typically generate customer deposits during the period following the sale of the property until such proceeds are used to purchase a replacement property. During 2018, deposits from CDEC customers averaged in excess of $1 billion.

Buy -
Mergr

Product

Company

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