M&A Deal Summary

Century Park Capital Partners Acquires Cirtec

On December 1, 2010, private equity firm Century Park Capital Partners acquired medical products company Cirtec from Charter Oak Equity and Cordova Smart & Williams

Acquisition Highlights
  • This is Century Park Capital Partners’ 2nd transaction in the Medical Products sector.
  • This is Century Park Capital Partners’ 13th transaction in the United States.
  • This is Century Park Capital Partners’ 1st transaction in Minnesota.
Investment Fate
  • Cirtec was sold to a consortium of financial buyers in 2017.

M&A Deal Summary

Date 2010-12-01
Target Cirtec
Sector Medical Products
Buyer(s) Century Park Capital Partners
Sellers(s) Charter Oak Equity
Cordova Smart & Williams
Deal Type Recapitalization

Target

Cirtec

Brooklyn Park, Minnesota, United States
Cirtec Medical is a provider of comprehensive medical product design and manufacturing solutions from concept through high-volume finished goods across all therapeutic categories. Cirtec Medical's technically-driven, 130-person team has particular expertise in minimally invasive systems, active and passive implants, and medical electronics. Cirtec Medical was founded in 1986 and is based in Brooklyn Park, Minnesota.

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Buyer(S) 1

Buyer

Century Park Capital Partners

El Segundo, California, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2000
PE ASSETS 1.6B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Century Park Capital Partners (CPCP) is a private equity firm that partners with owners and managers to build companies. The Firm targets businesses generating sales of $20 to $100 million and EBITDA of $3 to $15 million. Century Park Capital specializes in facilitating owner liquidity and business expansion through minority and majority recapitalizations, growth financings, management led buyouts, and acquisition financings. CPCP looks to invest $10 to $40 million per transaction. Areas of interest include consumer products, food, education, business services, test/measurement equipment, medical components, pet supplies, packaging, automotive, chemicals, and third party logistics. CPCP was formed in 2000 and is based in Los Angeles with an additional office in Menlo Park, California.


DEAL STATS #
Overall 13 of 24
Sector: Medical Products M&A 2 of 2
Type: Recapitalization M&A Deals 3 of 9
State: Minnesota M&A 1 of 1
Country: United States M&A 13 of 24
Year: 2010 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2008-07-09 Moss

Franklin Park, Illinois, United States

Moss provides three-dimensional marketing solutions to customers across retail, exhibits, events, sports, and commercial markets. The company’s products include tension fabric structures, specialty signage such as radiance lightboxes and non-fabric displays, and large-format imaging for wall coverings and portable displays. Moss was founded in 1975 and is based in Franklin Parke, Illinois.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-05-01 Dickinson Frozen Foods

Eagle, Idaho, United States

Dickinson Frozen Foods, Inc. is a provider of frozen roasted potatoes, onions and vegetable blends to large industrial food processors and food service companies.

Sell -

Seller(S) 2

SELLER

Charter Oak Equity

Westport, Connecticut, United States

Investor Investor Investor Investor


Category Private Equity Firm
Founded 1992
PE ASSETS 500M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Charter Oak Equity is a private equity group focused on control investments in lower middle-market companies valued between $25 and $150 million. The Firm looks for businesses operating large markets with significant room for growth. Target sectors include niche manufacturing, packaging, medical products, specialty chemicals, consumer products, and financial services. Charter Oak generally targets family-owned companies or non-core divisions of larger companies. Charter Oak Private Equity was formed in 1992 and is based in Westport, Connecticut.


DEAL STATS #
Overall 16 of 27
Sector: Medical Products M&A 1 of 2
Type: Recapitalization M&A Deals 1 of 1
State: Minnesota M&A 2 of 2
Country: United States M&A 16 of 27
Year: 2010 M&A 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-10-25 AxioMed Spine

Garfield Heights, Ohio, United States

AxioMed Spine Corporation to develop products with a goal of restoring spinal function to patients with degenerative spine disease; thus advancing the standard of care beyond fusion and first generation artificial discs.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-01-01 Space Optics Research Labs

Chelmsford, Massachusetts, United States

SORL focuses on producing custom and standard precision optical components and assemblies used on various high-performance aerospace, defense and commercial equipment. The Company also produces optical component assemblies, mounts and test equipment used by research institutions worldwide.

Sell -
DESCRIPTION

Cordova, Smart & Williams (CSW) is a private equity investment firm specializing in buyouts, recapitalizations, and growth capital financings of middle-market companies. CSW was formed in 2002 and is based in New York City.


DEAL STATS #
Overall 7 of 13
Sector: Medical Products M&A 1 of 2
Type: Recapitalization M&A Deals 1 of 1
State: Minnesota M&A 2 of 2
Country: United States M&A 7 of 13
Year: 2010 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2008-06-02 H2O Plus

Chicago, Illinois, United States

Founded in 1989, H2O Plus is a leading developer, manufacturer, and marketer of prestige, branded, water-based skincare products for the face and body. The company markets an expansive portfolio of 500 proprietary, company-owned formulations based on the principle of establishing clean, natural alternatives to the pore-clogging products pervasive in the personal care products market. Through its unique ingredient concept, H2O Plus combines “water plus” natural sea-derived nutrients and state-of–the-art technology to improve and maintain healthy and youthful-looking skin.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-01-01 Space Optics Research Labs

Chelmsford, Massachusetts, United States

SORL focuses on producing custom and standard precision optical components and assemblies used on various high-performance aerospace, defense and commercial equipment. The Company also produces optical component assemblies, mounts and test equipment used by research institutions worldwide.

Sell -