Buyout (LBO, MBO, MBI) • Healthcare Services

Calera Capital Acquires ImageFIRST

On October 31, 2018, private equity firm Calera Capital acquired healthcare services company ImageFIRST

Acquisition Context
  • This is Calera Capital’s 2nd transaction in the Healthcare Services sector.
  • This is Calera Capital’s 28th transaction in the United States.
  • This is Calera Capital’s 4th transaction in Pennsylvania.
Investment Fate
  • ImageFIRST was recapitalized in 2023.

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M&A Deal Summary

Date October 31, 2018
Target ImageFIRST
Sector Healthcare Services
Buyer(s) Calera Capital
Deal Type Buyout (LBO, MBO, MBI)

Target Company

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.
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Buyer Overview 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 Context for Buyer #
Overall 31 of 36
Sector: Healthcare Services 2 of 4
Type: Buyout (LBO, MBO, MBI) 21 of 23
State: Pennsylvania 4 of 5
Country: United States 28 of 33
Year: 2018 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-07-31 Rock-It

New York, New York, United States

Rock-It is a provider of freight forwarding and logistics to the music touring, fine arts, sports & live events, film & TV production, corporate events, and industrial projects end markets through its family of affiliated brands including Rock-it Global, Dietl, Cosdel, CargoLive, and Dynamic International. Rock-It was founded in 1978 and is based in New York, New York.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-03-01 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.

Buy -