M&A Deal Summary

Aurora Resurgence Acquires Cardiac Science

On January 27, 2016, distressed investor Aurora Resurgence acquired medical products company Cardiac Science from Opto Circuits

Acquisition Highlights
  • This is Aurora Resurgence’s 1st transaction in the Medical Products sector.
  • This is Aurora Resurgence’s 10th transaction in the United States.
  • This is Aurora Resurgence’s 1st transaction in Wisconsin.
Investment Fate
  • Cardiac Science was sold to a strategic buyer in 2019.

M&A Deal Summary

Date 2016-01-27
Target Cardiac Science
Sector Medical Products
Buyer(s) Aurora Resurgence
Sellers(s) Opto Circuits
Deal Type Divestiture
Advisor(s) Livingstone Partners (Financial)

Target

Cardiac Science

Waukesha, Wisconsin, United States
Cardiac Science Corp. is a developer, manufacturer, and marketer of advanced diagnostic and therapeutic cardiology devices and systems, including automated external defibrillators (AEDs), electrocardiograph devices (ECGs), cardiac stress systems and treadmills, Holter monitoring systems, hospital defibrillators, cardiac rehabilitation telemetry systems, and cardiology data management systems (informatics) that connect with hospital information (HIS), electronic medical record (EMR), and other information systems. Cardiac Science Corp. was founded in 1913 and is based in Waukesha, Wisconsin.

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Buyer(S) 1

Buyer

Aurora Resurgence

Investor Investor


Category Distressed Investor
Founded 1991
PE ASSETS 550M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Aurora Resurgence is a private equity firm focused on complex or special situation investments. The Firm is associated with private equity group Aurora Capital Group and looks to invest $25 to $100 million of equity or debt capital to support a variety of investment situations including buyouts, carve-outs, recapitalizations, 363 sales, secondary debt purchases, DIP financings, and restructurings. Aurora Resurgence is based in Los Angeles, California.


DEAL STATS #
Overall 12 of 12
Sector: Medical Products M&A 1 of 1
Type: Divestiture M&A Deals 5 of 5
State: Wisconsin M&A 1 of 1
Country: United States M&A 10 of 10
Year: 2016 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-05-22 Gener8 Maritime

New York, New York, United States

Gener8 Maritime, Inc. is a transportation provider of seaborne crude oil and petroleum products. The Company owns and operates one of the world’s largest and most diverse fleets of tankers, serving a client base consisting of the world’s major oil companies. Gener8 Maritime employs a highly-experienced executive team that has proven adept at navigating global macro cycles, effectuating tight quality and cost control and employing focused marketing efforts resulting in consistent returns delivered to investors.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-05-23 SIRVA

Oakbrook Terrace, Illinois, United States

SIRVA is a worldwide provider of relocation and moving solutions and provides more than 280,000 relocations per year to corporations, government employees, and individual consumers through its family of companies. SIRVA’s family of companies include Allied, Allied International, Allied Pickfords, DJK Residential, Global, northAmerican, northAmerican International, SIRVA Mortgage, SIRVA Relocation, SIRVA Move Management, SIRVA Global Relocation, and SIRVA Settlement. SIRVA was founded in 1997 and is based in Oakbrook Terrace, Illinois.

Sell -

Seller(S) 1

SELLER

Opto Circuits

Bangalore, India

Category Company
Founded 1992
Sector Medical Products
Employees1,840
Revenue 1.8B INR (2020)
DESCRIPTION

Opto Circuits (India) manufacture technologically-advanced medical equipment and devices for modern healthcare practices. Opto Circuits (India) was founded in 1992 and is based in Bengaluru, India.


DEAL STATS #
Overall 1 of 1
Sector: Medical Products M&A 1 of 1
Type: Divestiture M&A Deals 1 of 1
State: Wisconsin M&A 1 of 1
Country: United States M&A 1 of 1
Year: 2016 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-12-03 Cardiac Science

Waukesha, Wisconsin, United States

Cardiac Science Corp. is a developer, manufacturer, and marketer of advanced diagnostic and therapeutic cardiology devices and systems, including automated external defibrillators (AEDs), electrocardiograph devices (ECGs), cardiac stress systems and treadmills, Holter monitoring systems, hospital defibrillators, cardiac rehabilitation telemetry systems, and cardiology data management systems (informatics) that connect with hospital information (HIS), electronic medical record (EMR), and other information systems. Cardiac Science Corp. was founded in 1913 and is based in Waukesha, Wisconsin.

Buy $55M