M&A Deal Summary

Centerbridge Partners, CDPQ and BPOC Acquire Medical Solutions

On August 30, 2021, asset manager Centerbridge Partners, asset manager CDPQ and private equity firm BPOC acquired staffing company Medical Solutions from TPG

Acquisition Highlights
  • This is Centerbridge Partners’ 1st, CDPQ’s 2nd and BPOC’s 5th transaction in the Staffing sector.
  • This is Centerbridge Partners’ 36th, CDPQ’s 20th and BPOC’s 35th transaction in the United States.
  • This is Centerbridge Partners’ 1st, CDPQ’s 1st and BPOC’s 2nd transaction in Nebraska.

M&A Deal Summary

Date 2021-08-30
Target Medical Solutions
Sector Staffing
Buyer(s) Centerbridge Partners
CDPQ
BPOC
Sellers(s) TPG
Deal Type Secondary Buyout
Advisor(s) Goldman Sachs
Evercore Group
UBS Investment Bank (Financial)
Kirkland & Ellis (Legal)

Target

Medical Solutions

Omaha, Nebraska, United States
Medical Solutions is a healthcare staffing firm that specializes in placing registered nurses and allied professionals in temporary travel assignments. With offices in Omaha, San Diego, Cincinnati, and Tupelo. Medical Solutions was founded in 2001 and is based in Omaha, Nebraska.

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Buyer(S) 3

Buyer

Centerbridge Partners

New York, New York, United States

Investor Investor Investor Investor Investor


Category Asset Manager
Founded 2005
PE ASSETS 38.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Centerbridge Partners is a mega-sized private equity firm focused primarily on distressed/special situations in North America and Europe. In addition to making control investments, Centerbridge also maintains funds for non-control credit investments. Centerbridge was formed in 2005 and is based in New York City.


DEAL STATS #
Overall 44 of 47
Sector (Staffing) 1 of 1
Type (Secondary Buyout) 26 of 27
State (Nebraska) 1 of 1
Country (United States) 36 of 39
Year (2021) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-08-11 IPS

Compton, California, United States

IPS is a manufacturer of a wide range of adhesive cement, structural adhesives, and niche plumbing products primarily for residential, commercial, industrial, and international markets. IPS' products are sold under a number of highly regarded brand names, including Weld-On, Watertite, Studor, Truebro, and Guy Gray. IPS was founded in 1954 and is based in Compton, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-10-27 Help at Home

Chicago, Illinois, United States

Help at Home is a home care provider delivering in-home care to seniors and persons with disabilities. Help at Home was founded in 1975 and is based in Chicago, Illinois.

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 78 of 101
Sector (Staffing) 2 of 2
Type (Secondary Buyout) 18 of 20
State (Nebraska) 1 of 1
Country (United States) 20 of 24
Year (2021) 6 of 12
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-08-12 Solutions Beyond Technologies

Montreal, Quebec, Canada

Solutions Beyond Technologies specialized in SAP solution integration and business process optimization. We offer intelligent, practical, and innovative solutions that give our clients a competitive edge, in a timely and cost-effective manner. Solutions Beyond Technologies was founded in 2005 and is based in Montreal, Quebec.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-09-01 Wizeline

San Francisco, California, United States

Wizeline, a global technology services provider, builds high-quality digital products and platforms that accelerate time to market. The company focuses on measurable outcomes, partnering with customers to modernize core technologies, mature data-driven capabilities, and improve user experience. Wizeline's adaptive teams provide the right combination of solutions, capabilities, and methodologies to deliver results, while partnering with customers’ teams to foster innovation through continuous learning. Its diverse culture of innovation, ownership, and community, combined with the Academy, creates an inspiring environment for talent to build long-term careers. Wizeline is headquartered in San Francisco with offices in Guadalajara and Mexico City, Mexico, as well as in Ho Chi Minh City, Vietnam. Wizeline was founded in 2014 and is based in San Francisco, California.

Buy -
Buyer

BPOC

Chicago, Illinois, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1996
PE ASSETS 1.8B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Beecken Petty O'Keefe & Company (BPOC) is a specialist private equity firm that targets investments in middle-market healthcare companies. Specific areas of interest within healthcare include, specialty distribution; provider and payor outsourcing; pharmacy, infusion, and home healthcare; outpatient an alternate site services; and medical products manufacturing with a focus on capital equipment. The Firm focuses on recapitalizations, buyouts, and growth capital investments. BPOC was formed in 1996 and is based in Chicago, Illinois.


DEAL STATS #
Overall 36 of 41
Sector (Staffing) 5 of 5
Type (Secondary Buyout) 11 of 13
State (Nebraska) 2 of 2
Country (United States) 35 of 40
Year (2021) 3 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-04-13 Home Care Delivered

Glen Allen, Virginia, United States

Home Care Delivered is a direct-to-patient provider of insurance covered medical supplies for diabetes, incontinence, urology, ostomy, and wound care products delivered directly to the patient's home. The company is dedicated to providing best-in-class customer support and quality supplies for patients and caregivers nationwide. Home Care Delivered was founded in 1996 and is based in Glen Allen, Virginia.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-12-22 Alliance

Grand Rapids, Michigan, United States

Alliance is a national physical therapy operator offering outpatient physical therapy across a network of 90+ clinics in 14 states. Alliance offers virtual physical therapy, a workplace therapy solution, in-hospital services, and a comprehensive electronic medical record platform. Alliance was founded in 2017 and is headquartered in Grand Rapids, Michigan.

Buy -

Seller(S) 1

SELLER

TPG

Fort Worth, Texas, United States

Investor Investor Investor Investor


Category Private Equity Firm
Founded 1992
PE ASSETS 137.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

TPG Capital is a global, mega-sized private investment firm that manages a family of funds focused on private equity, real estate, venture capital, public equity and debt investing. TPG invests in opportunities across a broad range of industries and geographies. TPG generally seeks to invest in established businesses that can benefit from the Firm's operational experience and connections. Industries of interest include consumer, retail, healthcare, industrials, digital media, natural resources, energy, real estate, technology, and software. TPG was formerly known as Texas Pacific Group and was originally established in 1992 by David Bonderman, James Coulter and William Price. The Firm is based in Forth Worth, Texas with additional offices in Europe, Asia, and Australia.


DEAL STATS #
Overall 240 of 267
Sector (Staffing) 2 of 2
Type (Secondary Buyout) 33 of 36
State (Nebraska) 1 of 1
Country (United States) 176 of 193
Year (2021) 15 of 18
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-08-05 Catalis

Alpharetta, Georgia, United States

Catalis is a provider of government software and integrated payment solutions. The company offers comprehensive solutions for all sizes of government entities municipalities, counties, states, and federal agencies - with thousands of clients in all 50 states and Canada. Catalis was founded in 2017 and is based in Alpharetta, Georgia.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-09-02 Teachers of Tomorrow

Houston, Texas, United States

Teachers of Tomorrow provides accredited pre-certification training, research-based test preparation, and ongoing professional development. Teachers of Tomorrow was founded in 2005 and is based in Houston, Texas.

Buy -