M&A Deal Summary

Cortec Group Acquires Center for Vein Restoration

On January 4, 2016, private equity firm Cortec Group acquired healthcare services company Center for Vein Restoration from Waud Capital Partners

Acquisition Highlights
  • This is Cortec Group’s 3rd transaction in the Healthcare Services sector.
  • This is Cortec Group’s 32nd transaction in the United States.
  • This is Cortec Group’s 1st transaction in Maryland.

M&A Deal Summary

Date 2016-01-04
Target Center for Vein Restoration
Sector Healthcare Services
Buyer(s) Cortec Group
Sellers(s) Waud Capital Partners
Deal Type Secondary Buyout
Advisor(s) Piper Sandler & Co. (Financial)
McDermott Will & Emery (Legal)

Target

Center for Vein Restoration

Greenbelt, Maryland, United States
Center for Vein Restoration is a manager of medical clinics providing treatment for varicose and spider veins. CVR centers, primarily located in the Mid-Atlantic and Northeastern U.S., offer high-quality diagnostic and treatment services for various grades of chronic venous insufficiency, including ultrasounds, ablation, and sclerotherapy. Center for Vein Restoration was founded in 2007 and is based in Greenbelt, Maryland.

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Buyer(S) 1

Buyer

Cortec Group

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1984
PE ASSETS 6.4B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Cortec Group is a private equity firm focused on acquiring mid-sized businesses operating in basic industries. Cortec Group is an experienced and knowledgeable investor in healthcare products and services, B2C and B2B products, value-added distribution (including eCommerce), and specialty services companies with equity of $100-$500 million and EBITDA of $10 to $50 million. Cortec Group was formed in 1984 and is based in New York City.


DEAL STATS #
Overall 33 of 49
Sector (Healthcare Services) 3 of 5
Type (Secondary Buyout) 14 of 16
State (Maryland) 1 of 2
Country (United States) 32 of 48
Year (2016) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-11-16 Community Veterinary Partners

Philadelphia, Pennsylvania, United States

Community Veterinary Partners owns and operates veterinary hospitals and is committed to providing world-class treatment and health services to animals. Community Veterinary Partners was founded in 2009 and is based in Philadelphia, Pennsylvania.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-04-01 Chauvet

Davie, Florida, United States

Chauvet is a developer and marketer of branded entertainment and architectural lighting products, trussing, controllers and related equipment used in applications ranging from DJ, club, corporate events, hospitality venues, and houses of worship, to more demanding settings including concert tours, theaters, television and “architainment.” Chauvet was founded in 1990 and is based in Davie, Florida.

Buy -

Seller(S) 1

SELLER

Waud Capital Partners

Chicago, Illinois, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1993
PE ASSETS 3.2B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Waud Capital Partners is a private equity firm that pursues investments in mid-sized manufacturing, distribution and service companies. Waud looks for businesses with proven management, operating in well defined markets, and that demonstrate strong growth potential. The Firm typically invests $75 to $200 million. Specific areas of interest include adhesives, air/water treatment, alarm monitoring, auto components, coatings, consumer products, home healthcare services, hospitals, lighting, litigation support, medical distribution, petroleum distribution, pharmaceuticals, publishing, sealants, specialty hospitals, and tax consultants. Prospective transaction situations include buyouts, recapitalizations and industry consolidations. Waud Capital Partners was established in 1993 and is based in Chicago, Illinois.


DEAL STATS #
Overall 17 of 27
Sector (Healthcare Services) 5 of 7
Type (Secondary Buyout) 3 of 9
State (Maryland) 2 of 2
Country (United States) 16 of 26
Year (2016) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-06-02 Bonterra

Austin, Texas, United States

Bonterra is a provider of software-as-a-service solutions for corporate philanthropy, including workplace giving, employee engagement, and grants management. Bonterra was founded in 1999 and is based in Austin, Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-04-15 True Partners Consulting

Chicago, Illinois, United States

True Partners Consulting is an independent tax and business advisory firm delivering technical expertise and exceptional service in the areas of tax and financial reporting to Fortune 1000 and middle market companies, both public and private, throughout the United States. True Partners Consulting was founded in 2005 and is based in Chicago, Illinois.

Sell -