M&A Deal Summary

AlerisLife Acquires LifeTrust America

On November 11, 2004, AlerisLife acquired healthcare services company LifeTrust America from Pharos Capital Group and Metalmark Capital for 211M USD

Acquisition Highlights
  • This is AlerisLife’s 1st transaction in the Healthcare Services sector.
  • This is AlerisLife’s 2nd largest (disclosed) transaction.
  • This is AlerisLife’s 3rd transaction in the United States.
  • This is AlerisLife’s 1st transaction in Tennessee.

M&A Deal Summary

Date 2004-11-11
Target LifeTrust America
Sector Healthcare Services
Buyer(s) AlerisLife
Sellers(s) Pharos Capital Group
Metalmark Capital
Deal Type Add-on Acquisition
Deal Value 211M USD

Target

LifeTrust America

Nashville, Tennessee, United States
LifeTrust America is a senior living operating company, which owns, leases and operates 47 assisted living communities with 2,636 units which offer independent living apartments and assisted living accommodations, including specialized care for Alzheimer residents, throughout the Southeast. In addition, LTA manages 12 assisted living facilities for third- party owners.

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Buyer(S) 1

Buyer

AlerisLife

Newton, Massachusetts, United States

Category Company
Founded 2001
Sector Healthcare Services
Employees6,800
Revenue 935M USD (2021)
DESCRIPTION

AlerisLife is a provider of senior living communities in the United States. AlerisLife was founded in 2001 and is based in Newton, Massachusetts.


DEAL STATS #
Overall 3 of 6
Sector (Healthcare Services) 1 of 3
Type (Add-on Acquisition) 3 of 6
State (Tennessee) 1 of 2
Country (United States) 3 of 6
Year (2004) 1 of 2
Size (of disclosed) 2 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2002-10-25 Overland Park Living Community

Overland Park,, Kansas, United States

Overland Park Living Community includes 141 independent living apartments in approximately 123,375 sq. ft. of building space.This community was 89% occupied and 100% of the revenues from operations are paid by residents from private resources.

Sell $13M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2004-11-19 LTA Holdings

Nashville, Tennessee, United States

LTA Holdings, Inc. engages in the ownership and operation of independent and assisted living communities in the southeastern United States.

Buy $211M

Seller(S) 2

SELLER

Pharos Capital Group

Dallas, Texas, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1998
PE ASSETS 1.0B USD
Size Middle-Market
Type Sector Focused
DESCRIPTION

Pharos Capital Group is a private equity firm that provides later-stage equity funding to companies at or near cash-flow break even. Investment funds are typically used to support growth, acquisitions, management buyouts, or recapitalization. Pharos looks to commit $20 to $50 million per transaction. Target sectors include healthcare, business services, and technology. Pharos prefers US-based opportunities. Pharos Capital Group was formed in 1998 and is based in Dallas, Texas.


DEAL STATS #
Overall 5 of 23
Sector (Healthcare Services) 3 of 8
Type (Add-on Acquisition) 1 of 11
State (Tennessee) 3 of 7
Country (United States) 4 of 22
Year (2004) 2 of 2
Size (of disclosed) 4 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2004-06-29 Egenera

Marlborough, Massachusetts, United States

Egenera, Inc. provides virtualization technology that optimizes the use of network, compute and storage resources to enable the next-generation utility datacenter Egenera was established in 2000 and is based in Marlborough, Massachusetts.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2004-11-17 Travel Holdings

Altamonte Springs, Florida, United States

Travel Holdings, Inc. (current news) is a leading travel services wholesaler that primarily supplies travel products to agents, online travel distribution companies and foreign tour operators. The company maintains an extensive array of negotiated rates with both hotel and air providers, allowing it to sell travel products at significant discounts. In addition to being one of the largest inbound tour operators in North America, Travel Holdings also provides private label websites for international tour operators and wholesalers, a b2b website for U.S. retail travel agents and a variety of consumer websites, including a market-leading consumer travel website LastMinuteTravel.com. This combination of a leading branded consumer travel website with a premier travel services wholesaler serving popular destination markets across the U.S. rivals the few online travel agencies that can compete across a multitude of business models.

Buy -
SELLER

Metalmark Capital

New York, New York, United States

Category Private Equity Firm
Founded 2004
PE ASSETS 8.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Metalmark Capital is an independent private equity group focused on large company transactions in a wide range of industries. Metalmark is a hands-on investment firm looking to build long-term value in its portfolio companies. Broad areas of interest include natural resources/energy, healthcare services, industrials, food, transportation, and financial services. Metalmark was established in 2004 by the former principals of Morgan Stanley Capital Partners to manage the Metalmark Capital and Morgan Stanley Capital Partners funds. Metalmark is based in New York City.


DEAL STATS #
Overall 17 of 40
Sector (Healthcare Services) 1 of 4
Type (Add-on Acquisition) 8 of 20
State (Tennessee) 1 of 2
Country (United States) 16 of 37
Year (2004) 2 of 2
Size (of disclosed) 9 of 11
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2004-07-30 EnerSys

Reading, Pennsylvania, United States

EnerSys is a provider of stored energy solutions for industrial applications, manufactures and distributes reserve power and motive power batteries, battery chargers, power equipment, battery accessories and outdoor equipment enclosure solutions to customers worldwide. EnerSys was founded in 2000 and is based in Reading, Pennsylvania.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2005-11-01 Union Drilling

Fort Worth, Texas, United States

Union Drilling is a drilling contractor in the United States with operations in the Appalachian Basin, the Rockies, Oklahoma and Texas.

Sell -