M&A Deal Summary

Champion Acquires Winco

On March 1, 2021, Champion acquired medical products company Winco from Capital For Business and Diamond State Ventures

Acquisition Highlights
  • This is Champion’s 1st transaction in the Medical Products sector.
  • This is Champion’s 1st transaction in the United States.
  • This is Champion’s 1st transaction in Florida.

M&A Deal Summary

Date 2021-03-01
Target Winco
Sector Medical Products
Buyer(s) Champion
Sellers(s) Capital For Business
Diamond State Ventures
Deal Type Add-on Acquisition

Target

Winco

Ocala, Florida, United States
Winco manufactures medical furnishings that include recliners, privacy screens, treatment tables, phlebotomy chairs, and stools used primarily in Clinical, Acute Care, and Long Term Care markets. Winco was founded in 1946 and is based in Ocala, Florida.

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Buyer(S) 1

Buyer

Champion

Ocala, Florida, United States

Category Company
Founded 1992
Sector Medical Products
Revenue 22M USD (2012)
DESCRIPTION

Champion is a designer and manufacturer of seating products for the healthcare market. Champion's product portfolio primarily consists of highly engineered medical recliners sold to outpatient, post-acute medical facilities for treatments such as hemodialysis, where patient comfort is of critical importance. Champion was founded in 1992 and is based in Ocala, Florida.


DEAL STATS #
Overall 1 of 1
Sector: Medical Products M&A 1 of 1
Type: Add-on Acquisition M&A Deals 1 of 1
State: Florida M&A 1 of 1
Country: United States M&A 1 of 1
Year: 2021 M&A 1 of 1

Seller(S) 2

SELLER

Capital For Business

St. Louis, Missouri, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1959
PE ASSETS 200M USD
Size Small
Type Sector Agnostic
DESCRIPTION

Capital for Business (CFB) is a private investment firm focused on providing junior capital to growing lower middle-market companies with at least $10 to $100 million in sales. CFB targets businesses serving niche consumer, commercial, distribution, manufacturing, and service markets throughout the United States. Funds are typically used to support management buyouts, leveraged buyouts, recapitalizations, corporate divestitures, growth financings, and going-private transactions. CFB will not invest in start-ups, turnarounds, unproven technologies, biotech, real estate, and financial institutions. Capital for Business was founded in 1959 and is headquartered in St. Louis, Missouri.


DEAL STATS #
Overall 13 of 23
Sector: Medical Products M&A 1 of 2
Type: Add-on Acquisition M&A Deals 5 of 9
State: Florida M&A 1 of 1
Country: United States M&A 13 of 23
Year: 2021 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-01-14 IFH Group

Rock Falls, Illinois, United States

IFH Group manufactures custom steel fuel and hydraulic oil tanks for off-road and specialty vehicles markets. Applications include heavy terrain forklifts, earth boring equipment, boom cranes, back hoes, grounds keeping equipment, end loaders and hay bailers. Fuel Tanks and Hydraulic Reservoirs range in capacities from 1 to more than 300 gallons, and are manufactured from steel, stainless steel, aluminum, or aluminized steel. IFH Group is based in Rock Falls, Illinois.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-07-12 Panek Precision

Northbrook, Illinois, United States

Panek Precision is a manufacturer of precision machined metal components and sub-assemblies for original equipment manufacturers. The company’s primary capabilities as a machine shop include CNC machining, multi-spindle screw machining, precision tube cutting, metal forming, 4-slide stamping and centerless grinding. Panek Precision’s secondary capabilities include broaching, assembly, tapping, honing, lapping, milling and thread rolling. Panek Precision was founded in 1945 and is based in Northbrook, Illinois.

Buy -
SELLER

Diamond State Ventures

Little Rock, Arkansas, United States

Investor


Category Growth Capital Firm
Founded 1999
PE ASSETS 125M USD
Size Small
Type Sector Agnostic
DESCRIPTION

Diamond State Ventures (DSV) is a private equity and venture capital firm focused on small and lower middle-market company investments in Arkansas, as well as the Midwest and Southeast US. DSV looks to commit $1 to $5 million per investment, which can take the form of subordinated debt, preferred equity or a combination of the two. Prospective transaction situations include growth capital financings, management buyouts, family successions, recapitalizations, and early stage investments. Sectors of interest include niche manufacturing, business services, media, consumer products and services, education, healthcare, and technology. DSV will not invest in seed or startup companies. Diamond State Ventures is based in Little Rock.


DEAL STATS #
Overall 9 of 15
Sector: Medical Products M&A 1 of 1
Type: Add-on Acquisition M&A Deals 7 of 11
State: Florida M&A 3 of 4
Country: United States M&A 9 of 15
Year: 2021 M&A 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-10-01 Standard Precast

Jacksonville, Florida, United States

Standard Precast is a manufacturer of precast concrete products for storm drainage, sanitation, and other underground infrastructure applications. Standard Precast was founded in 1965 and is based in Jacksonville, Florida.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-04-20 Doctor’s Choice Home Care

Sarasota, Florida, United States

Doctor’s Choice Home Care is a medicare certified home health agency. Doctor’s Choice Home Care was founded in 2007 and is based in Sarasota, Florida.

Sell $120M