M&A Deal Summary

Abbott Laboratories Acquires Experimental & Applied Sciences

On October 11, 2004, Abbott Laboratories acquired consumer products company Experimental & Applied Sciences from North Castle Partners, GarMark Partners, Albion Investors and Steelpoint Capital Partners for 320M USD

Acquisition Highlights
  • This is Abbott Laboratories’ 1st transaction in the Consumer Products sector.
  • This is Abbott Laboratories’ 19th largest (disclosed) transaction.
  • This is Abbott Laboratories’ 1st transaction in Canada.
  • This is Abbott Laboratories’ 1st transaction in Ontario.

M&A Deal Summary
Date 2004-10-11
Target Experimental & Applied Sciences
Sector Consumer Products
Buyer(s) Abbott Laboratories
Sellers(s) North Castle Partners
GarMark Partners
Albion Investors
Steelpoint Capital Partners
Deal Type Add-on Acquisition
Deal Value 320M USD

Target

Experimental & Applied Sciences

Burlington, Ontario, Canada
EAS is a marketer of products that provide complete nutrition to anyone wanting to improve his or her health and fitness - from elite athletes to health conscious consumers. EAS educates and inspires its customers to live a healthier, more fulfilling lifestyle through exercise and science-based nutrition products. EAS product lines include EAS Myoplex®, EAS HP and the EAS AdvantEdge® lines.

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Buyer(S) 1

Buyer

Abbott Laboratories

North Chicago, Illinois, United States
Category Company
Founded 1888
Sector Medical Products
Employees114,000
Revenue 40.1B USD (2023)
DESCRIPTION
Entrance to Abbott's corporate campus in Abbott Park, Illinois.
Entrance to Abbott's corporate campus in Abbott Park, Illinois.

Abbott Laboratories is a diversified, global provider of diagnostics, medical devices, nutrition and pharmaceuticals. Abbott Laboratories was incorporated in 1888 and is headquartered in North Chicago, Illinois.

DEAL STATS #
Overall 10 of 35
Sector (Consumer Products) 1 of 1
Type (Add-on Acquisition) 10 of 35
State (Ontario) 1 of 1
Country (Canada) 1 of 1
Year (2004) 2 of 2
Size (of disclosed) 19 of 28
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2004-04-12 Hospira

Lake Forest, Illinois, United States

Hospira, Inc. is a global specialty pharmaceutical and medication delivery company dedicated to Advancing Wellness(TM). As the world leader in specialty generic injectable pharmaceuticals, Hospira offers one of the broadest portfolios of generic acute-care and oncology injectables, as well as integrated infusion therapy and medication management solutions. Through its products, Hospira helps improve the safety, cost and productivity of patient care. Hospira, Inc. is based in Lake Forest, Illinois.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2006-05-03 Guidant Stent Business

Indianapolis, Indiana, United States

Guidant's Stent Business is the vascular device division of Guidant.

Buy $4.1B

Seller(S) 4

SELLER

North Castle Partners

Greenwich, Connecticut, United States

Investor

Category Private Equity Firm
Founded 1997
Size Middle-Market
Type Sector Focused
DESCRIPTION

North Castle Partners is a specialist private equity firm that targets investments in consumer-driven product and service businesses. North Castle seeks control investments in companies that benefit from consumers looking to live 'healthier' lives as well as businesses that benefit from the baby boomer population. Specific areas of interest include aesthetics and personal care, consumer health, fitness and recreation, home and leisure, and nutrition. North Castle was formed in 1997 and is based in Greenwich, Connecticut.

DEAL STATS #
Overall 2 of 25
Sector (Consumer Products) 1 of 10
Type (Add-on Acquisition) 1 of 15
State (Ontario) 1 of 1
Country (Canada) 1 of 2
Year (2004) 2 of 2
Size (of disclosed) 2 of 9
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2004-04-21 Leiner Health Products

Carson, California, United States

Leiner Health Products, Inc. is a manufacturer and marketer of vitamins, minerals and nutritional supplements and over the counter ('OTC') pharmaceuticals.

Sell USD650M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2005-01-01 Avalon Natural Products

Boulder, Colorado, United States

Avalon is a provider of natural products. Categories include skin care, hair care, bath and body and sun care.

Buy -
SELLER

GarMark Partners

Stamford, Connecticut, United States

Investor Investor Investor Investor Investor

Category Mezzanine Finance Firm
Founded 1997
PE ASSETS 1.1B USD
Size Large
Type Sector Agnostic
DESCRIPTION

GarMark Partners is a private investment firm that makes debt and equity investments in a wide range of companies. The Firm invests in businesses at various stages of development to facilitate acquisitions, divestitures, recapitalizations, turnarounds or growth. Garmark typically invests between $5 and $30 million with an EBITDA $3 and $25 million. The firm prefers to invest in the sectors of manufacturing/industrial products, distribution, business services, consumer brands, food/nutrition products, transportation, healthcare, retail, and restaurants. GarMark Partners was formed in 1997 and is based in Stamford, Connecticut.

DEAL STATS #
Overall 4 of 21
Sector (Consumer Products) 1 of 3
Type (Add-on Acquisition) 3 of 14
State (Ontario) 1 of 1
Country (Canada) 1 of 1
Year (2004) 2 of 2
Size (of disclosed) 1 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2004-10-04 Rough Country

Dyersburg, Tennessee, United States

Rough Country is a designer and manufacturer of specialty-engineered, metal-formed exhaust hardware components for automobiles and light trucks. Rough Country was founded in 1939 and is based in Dyersburg, Tennessee.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2004-11-02 CrossCom

Buffalo Grove, Illinois, United States

CrossCom delivers nationwide IT services and solutions for geographically dispersed multi-unit operators in the retail, automotive, grocery, hospitality, and restaurant industry segments. CrossCom was founded in 1981 and is based in Buffalo Grove, Illinois.

Buy -
SELLER

Albion Investors

New York, New York, United States
Category Asset Manager
Founded 1995
Size Small
Type Sector Agnostic
DESCRIPTION

Albion Investors LLC is a New York based SEC registered investment advisor. Albion provides institutional clients with private securities investment services via a variety of investment vehicles, including limited partnerships and separate accounts. Albion manages client capital across two broad investment disciplines including private debt and equity investing, and fund of funds investing. As a lead investor, Albion's junior capital enterprise value ranges between in size from $2 to $15 million and EBITDA of $0.5 - $3 million. Areas of interest include food and beverage, business services, value-added distribution, specialty manufacturing, consumer products, wellness, and healthcare products and services. Albion Investors was formed in 1995.

DEAL STATS #
Overall 1 of 7
Sector (Consumer Products) 1 of 2
Type (Add-on Acquisition) 1 of 5
State (Ontario) 1 of 1
Country (Canada) 1 of 1
Year (2004) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2003-01-01 North American Propane

Taunton, Massachusetts, United States

North American Propane is located in Taunton, MA was formed in 2001 to acquire and operate retail propane distribution companies. The Company offers a superior level of customer service and expertise, providing fuel for many uses including home heating, water heating, cooking and commercial purposes. The Company’s footprint covers New England and the Mid-Atlantic states.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2010-03-01 Addition Mfg. Technologies

Lebanon, Ohio, United States

Addition Mfg. Technologies is a supplier of CNC tube benders, tube end formers, muffler manufacturing equipment, automated solution and precision tooling with operations in Canada, China, the United Kingdom, and the United States. Addition Mfg. Technologies was founded in 1956 and is based in Lebanon, Ohio.

Buy -
SELLER

Steelpoint Capital Partners

Investor

Category Private Equity Firm
Founded 2003
Size Small
Type Sector Agnostic
DESCRIPTION

Steelpoint Capital Partners is a private investment firm focused on investing in emerging consumer companies. Steelpoint is an active investor and pursues opportunities where it can provide guidance and expertise. Specific areas of interest include apparel, sporting goods, nutrition, and recreation. Steelpoint Capital Partners was formed in 2003 and is based in Carlsbad, California.

DEAL STATS #
Overall 2 of 17
Sector (Consumer Products) 1 of 2
Type (Add-on Acquisition) 1 of 12
State (Ontario) 1 of 1
Country (Canada) 1 of 1
Year (2004) 2 of 2
Size (of disclosed) 1 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2004-04-21 Leiner Health Products

Carson, California, United States

Leiner Health Products, Inc. is a manufacturer and marketer of vitamins, minerals and nutritional supplements and over the counter ('OTC') pharmaceuticals.

Sell USD650M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2005-06-15 Stella Rising

New York, New York, United States

Stella Rising is a media strategy, planning and buying company to emerging and established brands in the fashion, beauty, health, food and beverage industries. Stella Rising was established in 1982 and is based in New York City.

Buy -
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