M&A Deal Summary

Diamond Castle Holdings Acquires Suture Express

On January 28, 2010, private equity firm Diamond Castle Holdings acquired healthcare services company Suture Express from CHS Capital and Linden Capital Partners

Acquisition Highlights
  • This is Diamond Castle Holdings’ 2nd transaction in the Healthcare Services sector.
  • This is Diamond Castle Holdings’ 6th transaction in the United States.
  • This is Diamond Castle Holdings’ 1st transaction in Kansas.

M&A Deal Summary
Date 2010-01-28
Target Suture Express
Sector Healthcare Services
Buyer(s) Diamond Castle Holdings
Sellers(s) CHS Capital
Linden Capital Partners
Deal Type Secondary Buyout
Advisor(s) William Blair (Financial)
Kirkland & Ellis (Legal)

Target

Suture Express

Lenexa, Kansas, United States
Suture Express is a distributor of sutures and other wound closure products for acute care hospitals and surgery centers across the United States. Suture Express offers over 1,600 acute care hospitals, ambulatory surgery centers, and other customers a comprehensive assortment of more than 6,000 wound closure SKUs with no minimum order size, no required frequency of order and guaranteed next-day delivery for most orders. Suture Express was formed in 1998 and is based in Lenexa, Kansas.

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Buyer(S) 1

Buyer

Diamond Castle Holdings

New York, New York, United States
Category Private Equity Firm
Founded 2004
PE ASSETS 2.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Diamond Castle Holdings is a private equity firm that makes leveraged buyout, recapitalization, growth capital, and equity-like investments companies. Diamond Castle Holdings invests in energy & power, financial services, and healthcare sectors. Diamond Castle was formed in 2004 and is based in New York City.

DEAL STATS #
Overall 7 of 10
Sector (Healthcare Services) 2 of 3
Type (Secondary Buyout) 3 of 4
State (Kansas) 1 of 1
Country (United States) 6 of 9
Year (2010) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2008-09-04 YORK Label

Omaha, Nebraska, United States

YORK Label, Inc. is a supplier of high-end pressure-sensitive label solutions and operates flexographic label printing facilities in North America.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2010-06-01 Public Safety Equipment

Yeadon, United Kingdom

Public Safety Equipment is a highway safety solutions business. PSE designs, assembles and markets a broad range of branded electrical and electronic systems and solutions to support police forces and other emergency services, including traffic enforcement, in-car police video, speed measurement and emergency lighting products.

Sell -

Seller(S) 2

SELLER

CHS Capital

Chicago, Illinois, United States
Category Private Equity Firm
Founded 1988
PE ASSETS 2.9B USD
Size Large
Type Sector Agnostic
DESCRIPTION

CHS Capital is a large private equity firm that targets US-based company investments in a variety of sectors. CHS will consider both control and non-control positions in businesses with proven management and strong growth potential. Broad sectors of interest include business services, consumer services, consumer products, distribution, industrial products and infrastructure. The Firm looks for businesses valued from $75 to $300 million. CHS will not invest in venture opportunities or turnaround situations. CHS was formed in 1988 and is based in Chicago, Illinois.

DEAL STATS #
Overall 28 of 46
Sector (Healthcare Services) 2 of 3
Type (Secondary Buyout) 13 of 21
State (Kansas) 1 of 1
Country (United States) 28 of 46
Year (2010) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2009-11-29 Whitney Design

St. Louis, Missouri, United States

Whitney Design, Inc.designs and manufactures ironing boards, ironing board covers and home storage and organization products. The Company is headquartered in St. Louis, Missouri.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2010-04-30 Thermon

Austin, Texas, United States

Thermon is a manufacturer of heat tracing equipment for petrochemical, oil and gas, engineering, and power end-markets. With operations in North America, Europe, Asia, and Australia, the company serves customers worldwide. Thermon was founded in 1954 and is based in Austin, Texas.

Buy -
SELLER

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 7 of 27
Sector (Healthcare Services) 1 of 6
Type (Secondary Buyout) 2 of 9
State (Kansas) 1 of 2
Country (United States) 7 of 27
Year (2010) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2008-09-02 Corpak MedSystems

Buffalo Grove, Illinois, United States

CORPAK MedSystems is a developer, manufacturer and marketer of innovative medical devices focused on the enteral feeding and bedside location technology markets. The Company has established the leading market position in premium branded, adult, long-term nasogastric (“NG”) feeding tubes and offers a broad portfolio of other high quality, branded enteral products, including gastrostomy feeding tubes, gastric relief devices and enteral feeding safety devices.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2010-02-03 Hycor Biomedical

Garden Grove, California, United States

Hycor Biomedical, Inc. manufactures and markets high quality diagnostic products used in clinical laboratories throughout the world to test for a range of medical disorders. Hycor Biomedical was founded in 1981 and is based in Garden Grove, California.

Buy -
Mergr

Product

Company

Legal