M&A Deal Summary

CBSA Performax Acquires Corporate Benefit Services of America

On November 1, 2006, CBSA Performax acquired healthcare services company Corporate Benefit Services of America from American Capital and Churchill Equity

Acquisition Highlights
  • This is CBSA Performax’s 1st transaction in the Healthcare Services sector.
  • This is CBSA Performax’s 1st transaction in the United States.
  • This is CBSA Performax’s 1st transaction in Minnesota.

M&A Deal Summary
Date 2006-11-01
Target Corporate Benefit Services of America
Sector Healthcare Services
Buyer(s) CBSA Performax
Sellers(s) American Capital
Churchill Equity
Deal Type Add-on Acquisition

Target

Corporate Benefit Services of America

Minnetonka, Minnesota, United States
Corporate Benefit Services of America, Inc. is a leading third-party administrator of employer's health care benefit programs. The company is headquartered in Minnetonka, Minnesota.

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Buyer(S) 1

Buyer

CBSA Performax

Englewood, Colorado, United States
Category Company
Founded 1987
Sector Business Services
DESCRIPTION

CBSA Performax is a national developer, manager and administrator of employee health and benefit plans. CBSA Performax offers customized health care and benefit solutions to small to mid-sized companies with 50 to 500 employees.

DEAL STATS #
Overall 1 of 1
Sector (Healthcare Services) 1 of 1
Type (Add-on Acquisition) 1 of 1
State (Minnesota) 1 of 1
Country (United States) 1 of 1
Year (2006) 1 of 1

Seller(S) 2

SELLER

American Capital

Category Private Equity Firm
Founded 1997
PE ASSETS 22.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

American Capital was a publicly traded buyout and mezzanine investment firm. American Capital invested in buyouts, growth capital financings, acquistion financings, and recapitalizations. The Firm looked to finance businesses with at least $4 million in EBITDA and valued between $20 and $500 million. American Capital ws a generalist firm with broad interest in traditional industries such as manufacturing, distribution, and services. American Capital's European investment affiliate is European Capital. European Capital looked to invest $10 to $600 million of equity, mezzanine, and/or senior debt in similar opportunities across Europe. American Capital was formed in 1997 and in January 2017, merged with Ares Capital Management.

DEAL STATS #
Overall 53 of 194
Sector (Healthcare Services) 3 of 4
Type (Add-on Acquisition) 28 of 87
State (Minnesota) 1 of 3
Country (United States) 52 of 186
Year (2006) 22 of 26
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2006-10-30 Northwest Coatings

Oak Creek, Wisconsin, United States

Northwest Coatings Corp is a developer and manufacturer of customized specialty energy-curable (UV/EB, ultraviolet and electron beam) and water-based coatings and adhesives servicing the tag and label, packaging, printing and other industries.

Sell $72M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2006-11-02 Vision Solutions

Irvine, California, United States

Vision Solutions, Inc. is a provider of information availability software and services for Windows, Linux, IBM Power Systems and Cloud Computing markets. Vision Solutions, Inc. was established in 1990 and is headquartered in Irvine, California.

Buy -
SELLER

Churchill Equity

Category Private Equity Firm
Founded 1987
PE ASSETS 430M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

DEAL STATS #
Overall 4 of 11
Sector (Healthcare Services) 1 of 1
Type (Add-on Acquisition) 2 of 4
State (Minnesota) 1 of 1
Country (United States) 4 of 11
Year (2006) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2005-05-01 Orchid Orthopedic Solutions

Holt, Michigan, United States

Orchid Orthopedic Solutions provides design, manufacturing, and supply chain services to orthopedic implant OEMs globally. Orchid Orthopedic Solutions was formed in 2005 and is based in Holt, Michigan.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2006-12-01 GCM Medical & OEM

Union City, California, United States

GCM Medical & OEM, Inc. is a provider of contract manufacturing services to leading OEMs in the medical, industrial, transportation, and aerospace sectors. GCM offers precision machining, sheet metal fabrication, EDM, Swiss machining, furnace brazing, electro-mechanical assembly and clean room integration as core service solutions. GCM also provides services to its customers including rapid-prototyping/new product introduction, supply chain management, and low-cost region manufacturing through its wholly-owned subsidiary in China. GCM Holding was founded in 1978 and is based in Union City, California.

Sell -
Mergr

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