M&A Deal Summary

Correctional Healthcare Companies Acquires Justice Services Holdings

On June 30, 2010, Correctional Healthcare Companies acquired healthcare services company Justice Services Holdings from Gemini Investors and Timepiece Capital

Acquisition Highlights
  • This is Correctional Healthcare Companies’ 1st transaction in the Healthcare Services sector.
  • This is Correctional Healthcare Companies’ 1st transaction in the United States.
  • This is Correctional Healthcare Companies’ 1st transaction in Arizona.

M&A Deal Summary

Date 2010-06-30
Target Justice Services Holdings
Sector Healthcare Services
Buyer(s) Correctional Healthcare Companies
Sellers(s) Gemini Investors
Timepiece Capital
Deal Type Add-on Acquisition

Target

Justice Services Holdings

Scottsdale, Arizona, United States
Justice Services Holdings LLC is a community corrections out-patient treatment agency.

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Buyer(S) 1

Buyer

Correctional Healthcare Companies

Greenwood Village, Colorado, United States

Category Company
Sector Healthcare Services
Employees2,000
DESCRIPTION

CHC is an inmate healthcare management and community corrections services company, providing healthcare services to inmates and offenders in public and privately-managed county jails and state prisons across the United States.


DEAL STATS #
Overall 1 of 1
Sector: Healthcare Services M&A 1 of 1
Type: Add-on Acquisition M&A Deals 1 of 1
State: Arizona M&A 1 of 1
Country: United States M&A 1 of 1
Year: 2010 M&A 1 of 1

Seller(S) 2

SELLER

Gemini Investors

Wellesley, Massachusetts, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1993
PE ASSETS 700M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Gemini Investors is a middle-market private equity firm that targets investments in growing and established businesses. Areas of interest include technology, business services, consumer services, healthcare, education, manufacturing and distribution. Gemini looks for companies with $5 to $50 million in annual revenue and typically makes investments of $3 to $8 million in the form of preferred stock and/or subordinated debt. Prospective transaction types include growth capital, recapitalization and buyout situations. Gemini Investors was formed in 1993 and is based in Wellesley, Massachusetts.


DEAL STATS #
Overall 11 of 53
Sector: Healthcare Services M&A 2 of 8
Type: Add-on Acquisition M&A Deals 3 of 25
State: Arizona M&A 1 of 3
Country: United States M&A 11 of 53
Year: 2010 M&A 3 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-06-30 Primestream

Miami, Florida, United States

Primestream is a provider of advanced broadcast and new media solutions. Primestream solutions are used by customers within various market verticals, including Enterprise, Digital Media, Sports, and Broadcast. The solutions are designed to solve the unique and increasingly complex creative, business and technology challenges in each market. Primestream was founded in 1999 and is based in Miami, Florida.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2010-08-03 Star Career Academy

Berlin, New Jersey, United States

The Culinary and Star Academies are career schools offering commercial cooking and baking, hotel and restaurant management and allied health programs in seven locations in New York, New Jersey, and Pennsylvania.In 2007, an Allied Health Division was established, offering a Medical Assistant program and the name was changed to Career Academy of New York CANY).

Buy -
SELLER

Timepiece Capital

Phoenix, Arizona, United States

Investor


Category Private Equity Firm
Founded 2004
Size Small
Type Sector Agnostic
DESCRIPTION

Timepiece Capital is a private investment firm that targets smaller company investments across the niche distribution, manufacturing, and service industries. Timepiece looks for businesses with $5 to $50 million of annual revenue and at least $1.25 million of operating cash flow. Timepiece will not invest in restaurants, real estate opportunities, or companies with a significant degree of technology risk. Timepiece Capital was formed in 2004 and is based in Scottsdale, Arizona.


DEAL STATS #
Overall 3 of 7
Sector: Healthcare Services M&A 1 of 1
Type: Add-on Acquisition M&A Deals 1 of 4
State: Arizona M&A 1 of 1
Country: United States M&A 3 of 7
Year: 2010 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2008-02-08 Center Rock

Berlin, Pennsylvania, United States

Center Rock is an integrated drilling solutions company that manufactures a complete line of pneumatically-driven downhole drilling products (bits & hammers), distributes capital equipment in the form of high-pressure air and booster compressors that power its manufactured drilling components, and offers 24/7 support services. Center Rock was founded in 1998 and is based in Berlin, Pennsylvania.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-03-01 Wake Research Associates

Raliegh, North Carolina, United States

Wake Research Associates LLC is a provider of clinical trial services to the pharmaceutical industry.

Buy -