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  6. Calera Capital Acquires Bay State Physical Therapy

M&A Deal Summary

Calera Capital Acquires Bay State Physical Therapy

On March 1, 2019, private equity firm Calera Capital acquired healthcare services company Bay State Physical Therapy

Acquisition Highlights
  • This is Calera Capital’s 3rd transaction in the Healthcare Services sector.
  • This is Calera Capital’s 29th transaction in the United States.
  • This is Calera Capital’s 3rd transaction in Massachusetts.

M&A Deal Summary
Date 2019-03-01
Target Bay State Physical Therapy
Sector Healthcare Services
Buyer(s) Calera Capital
Deal Type Buyout (LBO, MBO, MBI)

Target

Bay State Physical Therapy

Braintree, Massachusetts, United States
Bay State Physical Therapy is a provider of physical therapy and chiropractic services. The company provides a wide range of evidence-based treatments, including therapeutic exercise, joint mobilization, soft tissue mobilization, neuromuscular education, spinal manipulation, and aquatic therapy. The Company operates more than 50 physical therapy clinics and 11 co-located chiropractic offices across Massachusetts and New Hampshire. Bay State was founded in 1995 and is based in Braintree, Massachusetts.

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Buyer(S) 1

Buyer

Calera Capital

San Francisco, California, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1991
PE ASSETS 3.5B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Calera Capital Partners LP is a private equity firm that targets investments in mid-sized North American businesses valued up to $750 million. Calera Capital looks to invest at least $35 million of equity capital per transaction. Target industries include manufacturing, software, healthcare, consumer products and services. Prospective transaction situations include leveraged recapitalizations of privately held companies, restructurings, growth financings/acquisitions, corporate spin-offs, and take-private situations. Calera seeks businesses with leading market positions, attractive margins, and strong organic growth. Calera Capital was formerly known as Fremont Partners, a unit of the Fremont Group. Calera Capital was formed in 1991 and has offices in San Francisco, California and Boston, Massachusetts.

DEAL STATS #
Overall 32 of 36
Sector: Healthcare Services M&A 3 of 4
Type: Buyout (LBO, MBO, MBI) M&A Deals 22 of 23
State: Massachusetts M&A 3 of 3
Country: United States M&A 29 of 33
Year: 2019 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-10-31 ImageFIRST

King of Prussia, Pennsylvania, United States

ImageFIRST is a linen rental and laundry service company specializing in the healthcare market throughout the U.S. ImageFIRST was founded in 1967 and is based in King of Prussia, Pennsylvania.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-06-27 Transaction Services Group

Auckland, New Zealand

Transaction Services Group is an outsourced provider of highly differentiated solutions and technology that enables businesses to efficiently accept recurring payments from customers. Transaction Services Group was founded in 2007 and is based in Auckland, New Zealand.

Sell -
Mergr

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