M&A Deal Summary

AdaptHealth Acquires ActivStyle

On May 26, 2020, AdaptHealth acquired distribution company ActivStyle from The Riverside Company

Acquisition Highlights
  • This is AdaptHealth’s 2nd transaction in the Distribution sector.
  • This is AdaptHealth’s 5th transaction in the United States.
  • This is AdaptHealth’s 1st transaction in Minnesota.

M&A Deal Summary
Date 2020-05-26
Target ActivStyle
Sector Distribution
Buyer(s) AdaptHealth
Sellers(s) The Riverside Company
Deal Type Add-on Acquisition

Target

ActivStyle

Minneapolis, Minnesota, United States
ActivStyle, Inc. is a distributor of medical supplies and specializes in incontinence products. The company offers a wide array of incontinence and related products, fast shipment, monthly recurring home delivery, and customer service that makes life easier for home care patients and caregivers. ActivStyle was founded in 1996 and is based in Minneapolis, Minnesota.

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Buyer(S) 1

Buyer

AdaptHealth

Plymouth Meeting, Pennsylvania, United States
Category Company
Sector Medical Products
Employees10,700
Revenue 3.2B USD (2023)
DESCRIPTION

AdaptHealth is a provider of home healthcare equipment, medical supplies to the home and related services. AdaptHealth provides a full suite of medical products and solutions designed to help patients manage chronic conditions in the home, adapt to life, and thrive. Product and services offerings include (i) sleep therapy equipment, supplies and related services (including CPAP and bi PAP services) to individuals suffering from obstructive sleep apnea, (ii) home medical equipment (HME) to patients discharged from acute care and other facilities, (iii) oxygen and related chronic therapy services in the home, and (iv) other HME medical devices and supplies on behalf of chronically ill patients with diabetes care, wound care, urological, ostomy and nutritional supply needs. AdaptHealth is based in Plymouth Meeting, Pennsylvania.

DEAL STATS #
Overall 5 of 8
Sector (Distribution) 2 of 2
Type (Add-on Acquisition) 3 of 6
State (Minnesota) 1 of 1
Country (United States) 5 of 8
Year (2020) 3 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-05-26 Solara Medical Supplies

Chula Vista, California, United States

Solara Medical Supplies LLC is an independent distributor of continuous glucose monitors (“CGM”) in the United States and offers a comprehensive suite of direct-to-patient diabetes management supplies to patients throughout the country, including CGMs, insulin pumps and other diabetic supplies. Solara Medical Supplies was founded in 2002 and is based in Chula Vista, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-12-01 Aerocare

Orlando, Florida, United States

Aerocare is a provider of oxygen, respiratory, sleep, and other chronic therapy services to patients in the home. AeroCare's patients typically suffer from the chronic obstructive pulmonary disease (COPD), obstructive sleep apnea (OSA), or congestive heart failure (CHF) and require in-home therapy services. Aerocare Holdings, Inc. was founded in 2000 and is based in Orlando, Florida.

Buy $2.0B

Seller(S) 1

SELLER

The Riverside Company

New York, New York, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1988
PE ASSETS 5.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

The Riverside Company is a global private equity firm that seeks investments in profitable lower middle-market companies valued under $400 million. Riverside looks to invest in growth businesses headquartered in North America, Europe, and Asia (primarily Japan and South Korea), that have been in operation for at least five years. Riverside targets investments in a wide array of industries including distribution, automotive, healthcare, education, manufacturing, software, consumer services, plastics, publishing, food, communications, marine, and business services. Riverside was formed in 1988 and is based in New York City.

DEAL STATS #
Overall 160 of 191
Sector (Distribution) 3 of 5
Type (Add-on Acquisition) 66 of 82
State (Minnesota) 3 of 4
Country (United States) 113 of 133
Year (2020) 4 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-05-20 Mintra Holding

Bergen, Norway

Mintra Holding is an entity which provides workforce management systems worldwide. It delivers services covering human resources (HR), competence management, and training to customers in various business environments. The company offers OCS HR, a suite of software covering HR, crewing, and payroll needs of shipping and offshore companies. Mintra Holding was founded in 1997 and is based in Bergen, Norway.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-07-21 BuildOut

Chicago, Illinois, United States

BuildOut is a commercial real estate marketing software company that provides SaaS-based marketing and customer relationship management software to commercial real estate brokerages. Buildout’s software is designed to manage the entire sale or lease process of a property from initial prospecting to the ultimate closing, including automating the creation of marketing materials, reaching prospective buyers and tenants, powering brokerage listings pages, and sharing transactional documents with all involved parties in a transaction. BuildOut was formed in 2010 and is based in Chicago, Illinois.

Buy -
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