Secondary Buyout • Distribution

Court Square Capital Partners Acquires NDC

On February 3, 2016, private equity firm Court Square Capital Partners acquired distribution company NDC from Silver Oak Services Partners

Acquisition Context
  • This is Court Square Capital Partners’ 3rd transaction in the Distribution sector.
  • This is Court Square Capital Partners’ 33rd transaction in the United States.
  • This is Court Square Capital Partners’ 1st transaction in Tennessee.
Investment Fate
  • NDC was sold to a consortium of financial buyers in 2021.

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M&A Deal Summary

Date February 3, 2016
Target NDC
Sector Distribution
Buyer(s) Court Square Capital Partners
Sellers(s) Silver Oak Services Partners
Deal Type Secondary Buyout

Target Company

NDC

Nashville, Tennessee, United States
NDC is a distributor of medical supplies to the healthcare industry. The company operates as a master distributor, purchasing medical supplies directly from manufacturers and providing a broad product line to local, regional, and national distributors who handle the last mile delivery direct to health care providers. NDC was founded in 1953 and is based in Nashville, Tennessee.
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Buyer Overview 1

Buyer

Court Square Capital Partners

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1968
PE ASSETS 7.7B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Court Square Capital Partners (CSCP) is a generalist private equity firm that seeks middle market company investments across the US. CSCP looks to partner with management teams to accelerate revenue growth and improve operating efficiency. Sectors of interest include business services, building products, chemicals, consumer products, food products/services, healthcare, aerospace/defense, manufacturing, media, technology, telecommunications, and transportation. Court Square Capital Partners was formerly known as Citigroup Venture Capital Equity Partners. The Group spun out of Citigroup and became independent in 2006. CSCP is based in New York City.


Deal Context for Buyer #
Overall 36 of 69
Sector: Distribution 3 of 5
Type: Secondary Buyout 17 of 33
State: Tennessee 1 of 3
Country: United States 33 of 66
Year: 2016 1 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-01-01 Vestcom

Little Rock, Arkansas, United States

Vestcom is a provider of technology-enabled shelf-edge media solutions to the retail and consumer products industry. The company offers an array of solutions including customized shelf-edge labels, branding and promotional content labels, and shelf-edge strips with product information. Vestcom was founded in 1996 and is based in Little Rock, Arkansas.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-05-23 Wyle

El Segundo, California, United States

Wyle, Inc. is a government services contractor focusing primarily on Defense and Federal IT services. The Company services include system engineering, acquisition support, information technology & cyber security, scientific services and test and evaluation services.

Sell $570M

Seller Profile 1

SELLER

Silver Oak Services Partners

Evanston, Illinois, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2005
Size Small
Type Sector Focused
DESCRIPTION

Silver Oak Services Partners, LLC is a private equity firm focused on service businesses, specifically business services, healthcare services, and consumer services. The Firm targets companies with revenues between $15 and $150 million and EBITDA of $4 to $25 million. The Firm's typical investment size is $10 to $50 million with the ability to invest more through co-investment from the firm's limited partners. The company will not consider investments in start-ups, businesses with project-based revenue models, retail, or restaurants. Silver Oak Services Partners was formed in 1995 and is based in Evanston, Illinois.


Deal Context for Seller #
Overall 13 of 24
Sector: Distribution 1 of 1
Type: Secondary Buyout 5 of 9
State: Tennessee 1 of 3
Country: United States 13 of 24
Year: 2016 1 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-01-12 CCS

Denver, Colorado, United States

CCS is a provider of commercial janitorial services. CCS provides a full range of janitorial services focused on commercial customers, including end markets such as single and multi-tenant offices, healthcare, education, industrial, government and residential communities. CCS was founded in 1988 and is based in Denver, Colorado.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-03-29 Pallet Logistics of America

Dallas, Texas, United States

Pallet Logistics of America is a provider of recycled pallets and pallet management services. Pallet Logistics of America provides recycling and repair services facilitating the re-use of previously used wood pallets, helping companies across the supply chain capture value from an otherwise wasted asset. Pallet Logistics of America was founded in 1989 and is based in Dallas, Texas.

Buy -