M&A Deal Summary

American Securities Acquires SpecialtyCare

On May 24, 2011, private equity firm American Securities acquired healthcare services company SpecialtyCare from Five Points Capital, Altaris and Petra Capital Partners for 2.3B USD

Acquisition Highlights
  • This is American Securities’ 1st transaction in the Healthcare Services sector.
  • This is American Securities’ 3rd largest (disclosed) transaction.
  • This is American Securities’ 36th transaction in the United States.
  • This is American Securities’ 2nd transaction in Tennessee.
Investment Fate
  • SpecialtyCare was sold to a consortium of financial buyers in 2017.
  • SpecialtyCare was sold to a consortium of financial buyers in 2021.

M&A Deal Summary
Date 2011-05-24
Target SpecialtyCare
Sector Healthcare Services
Buyer(s) American Securities
Sellers(s) Five Points Capital
Altaris
Petra Capital Partners
Deal Type Secondary Buyout
Deal Value 2.3B USD

Target

SpecialtyCare

Brentwood, Tennessee, United States
SpecialtyCare is a provider of outsourced operating room services including perfusion and intraoperative neuromonitoring, autotransfusion, sterile processing management, surgical assist, and minimally invasive surgical support. SpecialtyCare was founded in 2006 and is based in Brentwood, Tennessee.

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Buyer(S) 1

Buyer

American Securities

New York, New York, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1994
PE ASSETS 26.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

American Securities is a large private equity firm that typically partners with management when pursuing company acquisitions. American Securities typically targets US-based companies and generally seeks to commit $300 to $700 million per transaction. Areas of interest include consumer products, restaurants, healthcare, industrial, aerospace, defense, agriculture, environmental, paper/packaging, energy, and specialty chemicals. The Firm was originally formed in 1947 as the family office for William Rosenwald, an heir to the Sears Roebuck & Company, and began accepting outside investors in 1994. American Securities is headquartered in New York City.

DEAL STATS #
Overall 37 of 80
Sector (Healthcare Services) 1 of 4
Type (Secondary Buyout) 13 of 37
State (Tennessee) 2 of 2
Country (United States) 36 of 79
Year (2011) 2 of 4
Size (of disclosed) 3 of 11
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-05-20 Weasler Engineering

West Bend, Wisconsin, United States

Weasler Engineering, Inc. is a manufacturer and distributor of mechanical power transmission products for agricultural and lawn & turf machinery.

Sell $155M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-11-29 Alkegen

Buffalo, New York, United States

Alkegen develops and manufactures high-performance specialty materials used in advanced applications including high-temperature industrial insulation, filtration media, battery technologies for electric vehicles and energy storage, and fire protection, among many others. Alkegen was founded in 1891 and is based in Buffalo, New York.

Buy -

Seller(S) 3

SELLER

Five Points Capital

Winston-Salem, North Carolina, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1997
PE ASSETS 1.3B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Five Points Capital makes both direct private equity and junior capital investments in US-based middle-market companies. Five Points prefers control based investments and will consider opportunities in a variety of industries. For both equity and mezzanine investments, the Firm looks to commit $5 to $25 million of capital in businesses with at least $10 million in sales and $3 million of EBITDA. Five Points Capital was formerly known as BB&T Capital Partners and re-branded in 2015. The Firm was established in 1997 and is based in Winston-Salem, North Carolina.

DEAL STATS #
Overall 7 of 58
Sector (Healthcare Services) 1 of 1
Type (Secondary Buyout) 3 of 26
State (Tennessee) 1 of 1
Country (United States) 7 of 58
Year (2011) 1 of 2
Size (of disclosed) 1 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-01-06 Conisus

Atlanta, Georgia, United States

Conisus provides scientific-oriented promotional marketing and education solutions to a diverse group of biopharmaceutical companies to assist in the promotion and education of oncology drugs and therapies. Conisus was formed in 2007 and is based in Atlanta, Georgia.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-06-08 JML Optical

Rochester, New York, United States

JML Optical is a precision-engineered custom optical solution provider that offers optical and optomechanical design, rapid prototype, glass and metal fabrication, thin-film coating, metrology, environmental testing, and full assembly for a one-stop solution. JML Optical was formed in 1972 and is based in Rochester, New York.

Buy -
SELLER

Altaris

New York City, New York, United States
Category Private Equity Firm
Founded 2003
PE ASSETS 10.0B USD
Size Mega
Type Sector Focused
DESCRIPTION

Altaris is a specialist private equity firm that targets investments in the healthcare industry. Altaris focuses its investment activity across the healthcare sector, including pharmaceuticals, medical devices, healthcare services and healthcare IT. Altaris will consider both control and non-control investment situations requiring $15 to $50 million of equity capital. Prospective investment situations include corporate carve-outs, leveraged buyouts, and growth equity/recapitalization investments. Altaris was formed in 2004 and is based in New York, New York.

DEAL STATS #
Overall 5 of 24
Sector (Healthcare Services) 2 of 6
Type (Secondary Buyout) 2 of 8
State (Tennessee) 2 of 2
Country (United States) 4 of 22
Year (2011) 2 of 2
Size (of disclosed) 1 of 9
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-04-19 Healthcare Waste Solutions

Cincinnati, Ohio, United States

Healthcare Waste Solutions provides specialized and customized waste management services to all segments of the healthcare industry. The company offers a full range of medical waste solutions including regulated medical waste services, sharps management solutions, safety and compliance services, and other consulting services. Healthcare Waste Solutions has 14 waste processing locations and transfer stations, which have the capacity to manage over 600 tons of medical waste each day.

Sell $245M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-08-01 International Medical Group

Indianapolis, Indiana, United States

International Medical Group, Inc. is a provider of medical insurance products and assistance services. IMG offers a full line of international medical insurance products, as well as trip cancellation programs, medical management services and 24/7 emergency medical and travel assistance all designed to provide members Global Peace of Mind® while they’re away from home. International Medical Group, Inc. was established in 1989 and is headquartered in Indianapolis, Indiana.

Buy -
SELLER

Petra Capital Partners

Nashville, Tennessee, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1996
PE ASSETS 400M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Petra Capital Partners is a private investment firm that invests in US-based, high-growth businesses operating in the business services, healthcare services, media/publishing, telecom, IT, and information services sectors. Target companies are generally cash-flow positive with revenues in excess of $10 million and growth rates above 20%. Petra can commit up to $20 million per transaction. The Firm typically invests in subordinated debentures with warrants to purchase equity securities. Petra Capital Partners is licensed as a SBIC. The Firm was formed in 1996 and is based in Nashville, Tennessee.

DEAL STATS #
Overall 8 of 30
Sector (Healthcare Services) 2 of 6
Type (Secondary Buyout) 3 of 8
State (Tennessee) 1 of 1
Country (United States) 8 of 30
Year (2011) 1 of 3
Size (of disclosed) 1 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-03-01 Mach Speed Technologies

Ada, Oklahoma, United States

Mach Speed Technologies, Inc. is a provider of “opening price point” (OPP) digital media players in the United States. Mach Speed Technologies was founded in 1989 and is based in Ada, Oklahoma.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-08-01 ProtectAll

Deerfield Beach, Florida, United States

ProtectAll is a provider of sleep products and furniture warranty services. ProtectAll Bedding Division manufactures and distributes mattress protection covers, mattress encasements, and other textiles under company and private label brands for major national retail and wholesale outlets. ProtectAll was founded in 1988 and is based in Deerfield Beach, Florida.

Buy -
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