M&A Deal Summary

Avista Healthcare Partners Acquires GCM Holding

On September 3, 2019, private equity firm Avista Healthcare Partners acquired machinery company GCM Holding from Yukon Partners and May River Capital

Acquisition Highlights
  • This is Avista Healthcare Partners’ 1st transaction in the Machinery sector.
  • This is Avista Healthcare Partners’ 36th transaction in the United States.
  • This is Avista Healthcare Partners’ 4th transaction in California.

M&A Deal Summary

Date 2019-09-03
Target GCM Holding
Sector Machinery
Buyer(s) Avista Healthcare Partners
Sellers(s) Yukon Partners
May River Capital
Deal Type Secondary Buyout

Target

GCM Holding

Union, California, United States
GCM Holding is a manufacturer of low-to-medium volume, mission-critical precision machined components and assemblies. Based near Chicago’s O’Hare airport, the Company serves large, market customers in the energy, medical equipment, scientific laboratory, and industrial end markets. GCM Holding was founded in 1978 and is based in Union, California.

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Buyer(S) 1

Buyer

Avista Healthcare Partners

New York, New York, United States

Category Private Equity Firm
Founded 2005
PE ASSETS 8.0B USD
Size Mega
Type Sector Focused
DESCRIPTION

Avista Capital Partners is a private investment firm formed by a group of professionals with roots from DLJ Merchant Banking Partners. Avista makes controlling and minority investments in US based energy, healthcare, and media companies with revenues greater than $25 million. Typical transactions include leverage buyouts, build-ups, and growth capital financings. Avista Capital was formed in 2005 and is based in New York City with an additional office in Houston, Texas.


DEAL STATS #
Overall 43 of 54
Sector (Machinery) 1 of 1
Type (Secondary Buyout) 10 of 19
State (California) 4 of 6
Country (United States) 36 of 43
Year (2019) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-06-24 Trimb Healthcare AB

Stockholm, Sweden

Trimb Healthcare AB is a pharmaceutical company focuses on sales, marketing, and development of prescription free (OTC) pharmaceuticals and consumer healthcare products. Trimb owns licenses to, markets and sells a large number of over-the-counter pharmaceuticals and consumer healthcare products. Trimb has a portfolio of leading brands focused on skin care, foot care, oral care, and intimate health categories.

Sell kr3.4B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-02-05 XIFIN

San Diego, California, United States

XIFIN is a provider of cloud-based software and services to diagnostic service providers. XIFIN's technology platform enables end-to-end connectivity from patient to payor, linking together the many stakeholders in healthcare delivery and optimizing for the best business and patient outcomes. XIFIN is based in San Diego, California.

Buy -

Seller(S) 2

SELLER

Yukon Partners

Minneapolis, Minnesota, United States

Investor Investor Investor Investor Investor


Category Mezzanine Finance Firm
Founded 2008
PE ASSETS 640M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Yukon Partners is a mezzanine finance firm that works with private equity sponsors to fund a variety of investment situations. Yukon looks to invest $10 to $40 million to support buyouts, recapitalizations, take privates, and refinancings. Sectors of interest include automotive, building products, business services, consumer products, food/beverages, healthcare products/services, industrial manufacturing, niche manufacturing, and transportation/logistics. Prospective companies generally have revenues of $30 to $500 million and are profitable with EBITDA of $5 to $50 million. Yukon Partners was formed in 2008 and is based in Minneapolis, Minnesota.


DEAL STATS #
Overall 16 of 28
Sector (Machinery) 2 of 2
Type (Secondary Buyout) 8 of 17
State (California) 2 of 3
Country (United States) 16 of 27
Year (2019) 4 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-08-01 Stonewall Kitchen

York, Maine, United States

Stonewall Kitchen is a specialty food and home goods producer selling jams and jellies at local farmers' markets with a flavorful line of distinctive and high-quality products. Stonewall expanded the brand to include sauces, condiments, crackers, and baking mixes, always focusing on innovative product development, beautiful packaging, and exceptional guest service. Stonewall Kitchen was founded in 1991 and is based in York, Maine.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-10-04 RSi

Columbia, South Carolina, United States

RSi is a provider of revenue cycle management services to hospitals and health systems. Through its client-focused culture, RSi delivers accounts receivable management and revenue cycle outsourcing services to accelerate provider cash flow, improve operating efficiencies and enhance profitability without sacrificing patient experience. RSi solutions span the full RCM continuum, providing both point solutions to address specific client challenges and full end-to-end RCM outsourcing. RSi was founded in 1999 and is headquartered in Columbia, South Carolina.

Buy -
SELLER

May River Capital

Chicago, Illinois, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2012
PE ASSETS 500M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

May River Capital is a Midwest US-based private equity firm focused primarily on control investments in profitable mid-sized companies located throughout North America. The Firm targets management buyouts, divestitures, recapitalizations, and ownership succession situations. Prospective companies generally have at least $3 million of EBITDA and valued up to $150 million. Sectors of interest include manufacturing, distribution, energy services, industrial, and non-branded consumer goods. May River Capital was founded in 2012 and is based in Chicago.


DEAL STATS #
Overall 3 of 8
Sector (Machinery) 3 of 7
Type (Secondary Buyout) 2 of 4
State (California) 1 of 1
Country (United States) 3 of 8
Year (2019) 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-08-07 Pride Engineering

Minneapolis, Minnesota, United States

Pride Engineering designs and manufactures engineered, mission-critical, multi-piece machine tools and related equipment for the front-end production of two-piece food and beverage cans. Pride Engineering is based in Minneapolis, Minnesota.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-09-04 Marion Process Solutions

Marion, Iowa, United States

Marion Process Solutions manufactures industrial mixers and blenders, as well as microwave vacuum drying systems, for customers in the food, nutraceutical, mineral, plastic, chemical, and biomass industries. Marion Process Solutions was founded in 1938 and is based in Marion, Iowa.

Sell -