M&A Deal Summary

CD&R and CDPQ Acquire Carestream Dental

On April 13, 2017, private equity firm CD&R and asset manager CDPQ acquired medical products company Carestream Dental from Carestream Health

Acquisition Highlights
  • This is CD&R’s 3rd and CDPQ’s 1st transaction in the Medical Products sector.
  • This is CD&R’s 36th and CDPQ’s 6th transaction in the United States.
  • This is CD&R’s 4th and CDPQ’s 1st transaction in Georgia.

M&A Deal Summary
Date 2017-04-13
Target Carestream Dental
Sector Medical Products
Buyer(s) CD&R
CDPQ
Sellers(s) Carestream Health
Deal Type Divestiture
Advisor(s) Arnold & Porter (Legal)

Target

Carestream Dental

Atlanta, Georgia, United States
Carestream Dental provides dental digital product lines and services, including imaging equipment, CAD/CAM systems, software, and practice management solutions, for dental and oral health professionals. Carestream Dental technology captures two billion images annually and aids in more precise diagnoses, improved workflows, and superior patient care. Carestream Dental is based in Atlanta, Georgia.

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Buyer(S) 2

Buyer

CD&R

New York, New York, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1978
PE ASSETS 30.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Clayton, Dubilier & Rice LLC (CD&R) is a large private equity firm that targets non-core divestitures of large corporations, growth equity financings, traditional buyouts, and corporate/family partnerships. CD&R looks for opportunities in North America, Western Europe, and Asia and will consider businesses in a wide range of sectors including consumer/retail, healthcare, industrials, and services. Prospective companies generally lead their respective markets, have stable cash flows, and possess competitive advantages through differentiated products, services, or processes. CD&R was formed in 1978 and has offices in New York City and London.

DEAL STATS #
Overall 49 of 93
Sector (Medical Products) 3 of 4
Type (Divestiture) 18 of 25
State (Georgia) 4 of 7
Country (United States) 36 of 67
Year (2017) 1 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-02-07 Mauser Group N.V.

Bruehl, Germany

Mauser Group N.V. is a provider of industrial packaging solutions to the chemical, agrochemical, petrochemical, and pharmaceutical sectors as well as in the food and beverage industries, includes plastic packaging, fiber drums, steel drums, Intermediate Bulk Containers ("IBC"), and reconditioning services.

Sell $2.3B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-05-12 SiteOne Landscape Supply

Roswell, Georgia, United States

SiteOne Landscape Supply is a distributor of wholesale irrigation, landscape lighting, nursery, hardscapes, maintenance products and supplies for the green industry. SiteOne Landscape Supply was founded in 2001 and is based in Roswell, Georgia.

Sell -
Buyer

CDPQ

Investor Investor Investor Investor Investor

Category Asset Manager
Founded 1965
PE ASSETS 80.0B CAD
Size Mega
Type Sector Agnostic
DESCRIPTION

CDPQ is a global asset management firm focused on a variety of investing strategies including fixed income, real estate, infrastructure, private equity, venture capital, and public equities. Within private equity, CDPQ looks to acquire significant minority stakes in businesses operating in a variety of sectors and seeks to commit $250 million to $1 billion per transaction. CDPQ was established in 1965 and is headquartered in Montreal, Quebec.

DEAL STATS #
Overall 33 of 103
Sector (Medical Products) 1 of 1
Type (Divestiture) 2 of 6
State (Georgia) 1 of 1
Country (United States) 6 of 25
Year (2017) 5 of 15
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-03-30 Eddyfi Technologies

Quebec, Quebec, Canada

Eddyfi Technologies is specialized in the development of equipment and software used to detect cracks, corrosion and other anomalies on different types of structures. Its advanced non-destructive testing (NDT) technologies – meaning no damage is caused to the asset being inspected – are used for the inspection of critical components in industries such as power generation, petrochemicals and aerospace. Eddyfi Technologies was founded in 2009 and is based in Quebec, Canada.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-05-01 Potentia Renewables

Toronto, Ontario, Canada

Potentia Renewables is an independent producer of rooftop solar energy in Canada. Potentia Renewables is based in Toronto, Ontario.

Buy -

Seller(S) 1

SELLER

Carestream Health

Rochester, New York, United States
Category Company
Sector Medical Products
Revenue 2.4B USD (2014)
DESCRIPTION
Carestream's corporate headquarters in Rochester, New York.
Carestream's corporate headquarters in Rochester, New York.

Carestream Health is a global provider of medical and dental imaging products and services. Its offerings include digital x-ray systems, x-ray film and healthcare information technology solutions, as well as molecular imaging systems.

DEAL STATS #
Overall 2 of 2
Sector (Medical Products) 2 of 2
Type (Divestiture) 2 of 2
State (Georgia) 1 of 1
Country (United States) 2 of 2
Year (2017) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-11-01 Genesis Digital Imaging

Los Angeles, California, United States

Genesis Digital Imaging, Inc. is an imaging software developer and distributor of diagnostic imaging systems.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-06-28 Christie Medical Holdings

Memphis, Tennessee, United States

Christie Medical Holdings, Inc. is a global company that discovers, develops and commercializes medical technologies. Christie Medical product, VeinViewer®, is manufactured in the USA. It is a mobile vein imaging system that allows health care providers to clearly see accessible peripheral veins as a real time HD image, directly on the surface of the skin.

Buy -
Mergr

Product

Company

Legal