M&A Deal Summary

Tenex Capital Management Acquires Ohio Medical

On January 7, 2016, private equity firm Tenex Capital Management acquired medical products company Ohio Medical from Champlain Capital, MVC Capital and Amzak Capital Management

Acquisition Highlights
  • This is Tenex Capital Management’s 2nd transaction in the Medical Products sector.
  • This is Tenex Capital Management’s 15th transaction in the United States.
  • This is Tenex Capital Management’s 1st transaction in Illinois.
Investment Fate
  • Ohio Medical was sold to a publicly-traded strategic buyer in 2022 for 127M USD.

M&A Deal Summary

Date 2016-01-07
Target Ohio Medical
Sector Medical Products
Buyer(s) Tenex Capital Management
Sellers(s) Champlain Capital
MVC Capital
Amzak Capital Management
Deal Type Secondary Buyout
Advisor(s) Baird (Financial)

Target

Ohio Medical

Gurnee, Illinois, United States
Ohio Medical manufactures and distributes medical suction and oxygen therapy products and source equipment. SOT product offering includes branded suction/vacuum regulators, flowmeters, and medical gas hoses; Systems include medical gas pipelines, service, and source equipment. OMC was originally founded in 1910 and is based in Gurnee, Illinois.

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Buyer(S) 1

Buyer

Tenex Capital Management

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1999
PE ASSETS 1.2B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Tenex Capital Management is a private investment group focused on acquiring control positions in profitable North American companies with $3 to $40 million of EBITDA. The Firm does not have any sector preferences and looks to commit up to $125 million per transaction. Tenex Capital Management was formed in 1999 and is based in New York City.


DEAL STATS #
Overall 15 of 49
Sector: Medical Products M&A 2 of 2
Type: Secondary Buyout M&A Deals 5 of 16
State: Illinois M&A 1 of 4
Country: United States M&A 15 of 49
Year: 2016 M&A 1 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-09-23 Techniks

Indianapolis, Indiana, United States

Techniks is a provider of aftermarket CNC tool holders, cutting tools, and work holding solutions. TTG leverages world-class domestic manufacturing capabilities, two well-regarded brands, a global high-value supply chain, R&D technologies, and a history of innovation to service an extensive network of metalworking and industrial distributors, machine OEMs and cutting tool, manufacturers.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-03-14 BMG

Beaverton, Michigan, United States

BMG is a provider of turnkey thermoforming and packaging systems for the food & beverage market. BMG offers a broad portfolio of highly-engineered thermoforming and automation equipment, in addition to best-in-class tooling and a comprehensive offering of post-sale parts, service and support. BMG was founded in 1952 and is based in Beaverton, Michigan.

Buy -

Seller(S) 3

SELLER

Champlain Capital

San Francisco, California, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2000
PE ASSETS 140M USD
Size Small
Type Sector Agnostic
DESCRIPTION

Champlain Capital Partners is a private equity firm focused on growth capital financings and investments in businesses facing succession issues. The Firm is a generalist investor investor and will consider opportunities in a broad range of manufacturing, service and distribution industries. Target businesses typically have revenues of $10 to $100 million and EBITDA of $3 to $15 million. Champlain prefers companies located in the US. Champlain will not invest in turnaround situations. Champlain Capital Partners was formed in 2000 and is based in San Francisco, California with an additional office in Boston, Massachusetts.


DEAL STATS #
Overall 10 of 15
Sector: Medical Products M&A 1 of 1
Type: Secondary Buyout M&A Deals 4 of 7
State: Illinois M&A 1 of 1
Country: United States M&A 10 of 15
Year: 2016 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-10-22 Carstar

Leawood, Kansas, United States

CARSTAR is the largest franchisor of automobile collision repair shops in North America.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-02-04 StewMac

Athens, Ohio, United States

StewMac is an e-tailer of specialty tools and parts for customers active in the repair, modification, and construction of guitars and similar fretted musical instruments. StewMac was founded in 1968 and is based in Athens, Ohio.

Buy -
DESCRIPTION

MVC Capital is a business development company focused on providing long-term equity and debt investment capital to fund growth, acquisitions and recapitalizations of small and middle-market companies. MVC is sector agnostic and primarily invests in US-based companies. MVC's investments can take the form of common and preferred stock (control and non-control investments) and warrants or rights to acquire equity interests; senior and subordinated loans; or convertible securities. MVC serves as the lead investor for transactions, as well as a co-investor in companies along with other private equity sponsors. MVC Capital is based in Purchase, New York.


DEAL STATS #
Overall 5 of 9
Sector: Medical Products M&A 1 of 2
Type: Secondary Buyout M&A Deals 3 of 3
State: Illinois M&A 1 of 1
Country: United States M&A 5 of 9
Year: 2016 M&A 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-06-01 Thunderdome Restaurants

Cincinnati, Ohio, United States

Thunderdome Restaurants is a restaurant group operating twelve restaurant entities under four internally developed brands: Bakersfield, The Eagle, Krueger’s Tavern, and Maplewood Kitchen. Thunderdome Restaurants was formed in 2012 and is based in Cincinnati, Ohio.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-12-23 AccuMED Innovative Technologies

Buffalo, New York, United States

AccuMED Innovative Technologies LLC is a contract manufacturer focused on healthcare product companies and OEMs of medical devices and supplies, including respiratory disorder, vascular compression, and patient transfer products.

Sell -
DESCRIPTION

Amzak is a diversified investment group focused on middle-market direct company investing, fixed income, real estate acquisitions, and venture healthcare investing. Amzak will consider opportunities throughout the US, Central/South America, and the Caribbean. Within its middle-market direct investing practice, Amzak looks to invest $10 to $50 million in growth-oriented companies in partnership with management. Amzak Capital Management is based in Boca Raton, Florida.


DEAL STATS #
Overall 5 of 11
Sector: Medical Products M&A 1 of 1
Type: Secondary Buyout M&A Deals 1 of 2
State: Illinois M&A 1 of 2
Country: United States M&A 3 of 8
Year: 2016 M&A 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-09-30 KPAQ Industries

St. Francisville, Louisiana, United States

KPAQ Industries LLC is a manufacturer of virgin unbleached pulp and paper products. KPAQ Paper mill has capacity to produce several types of products including linerboard,white bond paper, unbleached pulp and bleach pulp. The facility is strategically located in one of the most forested areas of the region.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-11-17 Nms

Aventura, Florida, United States

Nms Ltd. (Network Management Services) is an independent owner and operator of broadcast telecommunications towers and other real estates in Colombia, Mexico, and Nicaragua. Network Management Services was founded in 2011 and is based in Aventura, Florida.

Sell -