M&A Deal Summary

Blue Wolf Capital Partners, Kelso, HarbourVest Partners and Athyrium Capital Management Acquire Elara Caring

On April 10, 2018, private equity firm Blue Wolf Capital Partners, private equity firm Kelso, private equity firm HarbourVest Partners and asset manager Athyrium Capital Management acquired consumer services company Elara Caring

Acquisition Highlights
  • This is Blue Wolf Capital Partners’ 1st, Kelso’s 1st, HarbourVest Partners’ 2nd and Athyrium Capital Management’s 2nd transaction in the Consumer Services sector.
  • This is Blue Wolf Capital Partners’ 21st, Kelso’s 55th, HarbourVest Partners’ 104th and Athyrium Capital Management’s 27th transaction in the United States.
  • This is Blue Wolf Capital Partners’ 3rd, Kelso’s 10th, HarbourVest Partners’ 16th and Athyrium Capital Management’s 1st transaction in Texas.

M&A Deal Summary
Date 2018-04-10
Target Elara Caring
Sector Consumer Services
Buyer(s) Blue Wolf Capital Partners
Kelso
HarbourVest Partners
Athyrium Capital Management
Deal Type Buyout (LBO, MBO, MBI)

Target

Elara Caring

Dallas, Texas, United States
Elara Caring is a provider of home-based care, with a national footprint in the Northeast, Midwest, and Southwest. Elara Caring leads patients through the post-acute care journey by providing the appropriate level of care, delivered wherever our patients call home. The company’s intimate understanding of its patients’ needs allows it to apply proprietary platforms to deliver proactive, customized care that improves quality of life and keeps patients in their homes. Elara Caring was founded in 1975 and is based in Dallas, Texas.

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Buyer(S) 4

Buyer

Blue Wolf Capital Partners

New York, New York, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2005
PE ASSETS 2.5B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Blue Wolf Capital Partners is a private equity investment firm that targets control investments in middle-market North American companies. Blue Wolf looks to commit at least $25 million of equity capital in businesses with minimum revenues of $50 million. Blue Wolf is a generalist firm with broad interest in service and applied engineering companies, capital equipment manufacturers, general manufacturing, financial services, paper products, and broadcast media. Blue Wolf will also consider distressed situation investments. The Firm does not invest in start-ups. Blue Wolf Capital Partners was formed in 2005 and is located in New York, New York.

DEAL STATS #
Overall 22 of 34
Sector (Consumer Services) 1 of 1
Type (Buyout (LBO, MBO, MBI)) 7 of 12
State (Texas) 3 of 3
Country (United States) 21 of 31
Year (2018) 4 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-04-10 Great Lakes Caring

Jackson, Michigan, United States

Great Lakes Home Health Services, Inc. (dba Great Lakes Caring) is a provider of home health care, hospice care, as well as home medical equipment, daily to more than 6,000 patients throughout the Midwest. Great Lakes Caring, based in Jackson, Michigan, offers a broad range of services within the continuum of in-home health care including home health, hospice, home-based primary care, palliative care and private duty services. The company was founded in 1994 by Cherilyn Deary, and has built its business on a patient-centric commitment to superior quality and innovation. Great Lakes Caring has become one of the highest rated home health and hospice companies in the country, developing and implementing its products and services throughout the Midwest. The company employs more than 2,600 health care professionals in 25 offices, providing superior quality home health care, hospice care, palliative care as well as home-based primary care and private duty services to more than 9,000 patients daily.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-05-16 TGW Global

Sheffield, United Kingdom

TGW Global Ltd. is a machine knife manufacturing with facilities and distributors scattered around the globe - providing customers with valuable, convenient and relevant information about our diverse range of products and services. The main orientation of the company is machine knife manufacturing with an emphasis on affordable and reliable products. TGW was formed in 1908 and is based in Sheffield, United Kingdom.

Buy -
Buyer

Kelso

New York, New York, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1971
PE ASSETS 15.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Kelso & Company is a private equity and investment management firm that seeks control investments in middle-market companies operating primarily throughout the US. Sectors of interest include manufacturing, communications, media, distribution, service, consumer products, retail, healthcare, transportation, logistics, textiles, & apparel, chemicals, and energy. Kelso looks to align 'management's interest with those of investors' when considering opportunities. Kelso & Company was formed in 1971 and is based in New York City.

DEAL STATS #
Overall 65 of 81
Sector (Consumer Services) 1 of 1
Type (Buyout (LBO, MBO, MBI)) 28 of 30
State (Texas) 10 of 11
Country (United States) 55 of 70
Year (2018) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-01-02 Harbor Community Bank

Indiantown, Florida, United States

Harbor Community Bank is a bank holding company that was established by veteran Florida bankers to build a strong community banking franchise along the east coast of Florida. Harbor Community Bank was founded in 2010 and is based in Indiantown, Florida.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-08-22 Artera Services

Atlanta, Georgia, United States

Artera Services is a provider of integrated infrastructure services to natural gas and electric industries across 34 states. Artera delivers maintenance and construction services to energy utilities, infrastructure companies, municipalities, and cooperatives across America. Artera Services was founded in 2012 and is based in Atlanta, Georgia.

Sell -
Buyer

HarbourVest Partners

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1978
PE ASSETS 86.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

HarbourVest Partners, LLC is an investment firm that makes investments in new private equity partnerships, acquires secondary interests, and makes direct investments in operating companies. HarbourVest's largest investment area is investments in private equity funds, comprising of approximately 2/3 of HarbourVest's assets. HarbourVest's direct investment group looks for investments in growth oriented businesses at a variety of stages. The Group generally targets co-investments of $5 to $100 million, growth capital financings of $5 to $40 million, or mezzanine commitments of $5 to $20 million. Sectors of interest include software, hardware, data communications, telecommunications, and financial services. HarbourVest was formed in 1997 to assume the business of Hancock Venture Partners which was formed in 1982. HarbourVest Partners is based in Boston, Massachusetts, with additional offices in London, Tokyo, and Hong Kong.

DEAL STATS #
Overall 174 of 223
Sector (Consumer Services) 2 of 4
Type (Buyout (LBO, MBO, MBI)) 37 of 41
State (Texas) 16 of 21
Country (United States) 104 of 134
Year (2018) 7 of 25
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-03-27 Nouryon

Amsterdam, Netherlands

Nouryon is a specialty chemical provider markets worldwide rely on essential chemistry in the manufacture of everyday products such as paper, plastics, building materials, food, pharmaceuticals, and personal care items. Nouryon is based in Amsterdam, Netherlands.

Buy €10.1B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-05-01 Edelman Financial Engines

Santa Clara, California, United States

Edelman Financial Engines is a financial planning and investment management firm. Edelman Financial Engines was founded in 1986 and is based in Santa Clara, California.

Buy $3.0B
Buyer

Athyrium Capital Management

Investor Investor Investor Investor Investor

Category Asset Manager
Founded 2008
PE ASSETS 3.7B USD
Size Large
Type Sector Focused
DESCRIPTION

Athyrium Capital Management is a large asset manager focused on the healthcare sector. Athyrium invests in a wide range of financial instruments including royalties, structured credit, and equities as well as select special situations. Athyrium Capital was established in 2008 and is headquartered in New York City.

DEAL STATS #
Overall 29 of 44
Sector (Consumer Services) 2 of 3
Type (Buyout (LBO, MBO, MBI)) 3 of 4
State (Texas) 1 of 1
Country (United States) 27 of 39
Year (2018) 3 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-01-04 VillageMD

Chicago, Illinois, United States

VillageMD is a national primary care provider supporting physicians moving toward a primary care-led, high-value clinical model. VillageMD delivers data analytics, a physician practice-based care coordination model, leading technology, and on-the-ground support resources to make improvements at the point of care, resulting in high quality clinical outcomes across all markets and all patient populations. VillageMD also provides access to value-based reimbursement contracts that reward physicians for delivering high quality, cost effective care. VillageMD works with physician groups, independent practice associations, and health systems to improve quality, deliver a first-rate patient experience, and lower total medical costs in the communities they serve. VillageMD was founded in 2013 and is based in Chicago, Illinois.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-07-01 Amryt Pharma

Dublin, Ireland

Amryt Pharma is a pharmaceutical company focused on developing and delivering innovative new treatments to help improve the lives of patients with rare and orphan diseases. Amryt Pharma is based in Dublin, Ireland.

Buy -
Mergr

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