M&A Deal Summary

DW Healthcare Partners Acquires Champion

On May 8, 2017, private equity firm DW Healthcare Partners acquired medical products company Champion from Levine Leichtman Capital Partners and Apogem Capital

Acquisition Highlights
  • This is DW Healthcare Partners’ 8th transaction in the Medical Products sector.
  • This is DW Healthcare Partners’ 24th transaction in the United States.
  • This is DW Healthcare Partners’ 3rd transaction in Florida.

M&A Deal Summary
Date 2017-05-08
Target Champion
Sector Medical Products
Buyer(s) DW Healthcare Partners
Sellers(s) Levine Leichtman Capital Partners
Apogem Capital
Deal Type Secondary Buyout

Target

Champion

Ocala, Florida, United States
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.

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Buyer(S) 1

Buyer

DW Healthcare Partners

Park City, Utah, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2002
PE ASSETS 1.5B USD
Size Large
Type Sector Focused
DESCRIPTION

DW Healthcare Partners is a healthcare-focused private equity firm that partners with owners of mid-to late-stage companies. DW looks to invest in private, North American companies, primarily in the medical device, product, services, and specialty distribution sectors of healthcare. DW will invest from $20 to $100 million of equity capital to help facilitate growth or to fund acquisitions. DW looks for high-growth businesses with at least $6 million in EBITDA and prefers to be the majority investor. DW Healthcare Partners was formed in 2002 and is based in Ontario, Canada.

DEAL STATS #
Overall 24 of 39
Sector (Medical Products) 8 of 11
Type (Secondary Buyout) 3 of 4
State (Florida) 3 of 3
Country (United States) 24 of 36
Year (2017) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-12-01 The Beauty Health Company

Long Beach, California, United States

The Beauty Health Company is a consumer products beauty company. Products include HydraFacial, a manufacturer of non-invasive equipment and consumables used in aesthetic skin health treatments. The Beauty Health Company was founded in 1997 and is based in Long Beach, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-12-20 SoClean

Peterborough, New Hampshire, United States

SoClean provides a direct-to-consumer in-home cleaning device for CPAP machines that improve health outcomes and quality of life for those suffering from obstructive sleep apnea (“OSA”) and other sleep disorders. SoClean was formed in 2011 and is based in Peterborough, New Hampshire.

Buy -

Seller(S) 2

SELLER

Levine Leichtman Capital Partners

Beverly Hills, California, United States

Investor Investor Investor Investor Investor

Category Mezzanine Finance Firm
Founded 1984
PE ASSETS 12.9B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Levine Leichtman Capital Partners (LLCP) is a West Coast US based private investment firm that targets mezzanine and other structured equity investments in middle-market companies. The Firm has several funds, each with different strategies. LLCP's larger fund targets subordinated debt, preferred equity, and/or common equity investments in companies with $100 to $750 million of revenue. The Firm's smaller fund invests $5 to $15 million in emerging companies with less than $25 million in revenue. LLCP also invests in financially distressed businesses. LLCP was formed in 1984 and has offices in Beverly Hills, California; Chicago, Illinois; Dallas, Texas; New York City; and London.

DEAL STATS #
Overall 27 of 57
Sector (Medical Products) 1 of 1
Type (Secondary Buyout) 10 of 30
State (Florida) 1 of 4
Country (United States) 26 of 51
Year (2017) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-04-27 HomeVestors

Dallas, Texas, United States

HomeVestors is a real estate investment franchisor in the United States, providing services and education to franchisees seeking to operate their own, independent, residential real estate investment business. HomeVestors was founded in 1989 and is based in Dallas, Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-05-15 Werner

Itasca, Illinois, United States

WernerCo is a fully-integrated, international manufacturer and distributor of access products, fall protection equipment, secure storage systems and light duty construction equipment. Its portfolio of industry leading brands include Werner, KNAACK®, WEATHER GUARD®, Youngman®, BoSS®, Centaure, Duarib, Haemmerlin and Bailey. WernerCo is based in Itasca, Illinois.

Sell -
SELLER

Apogem Capital

Chicago, Illinois, United States
Category Asset Manager
Founded 2001
PE ASSETS 39.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Apogem Capital is a diversified alternative investment manager and subsidiary of insurance provider, New York Life. Apogem manages a variety of investment strategies including private equity, private credit, and real assets. Within private equity, the Firm looks to make fund, direct, and secondary investments, as well as acquire GP stakes. Within its direct investing activity, Apogem targets mid-sized companies valued up to $250 million and will consider businesses throughout North America and Europe. Apogem Capital formed as the result of New York Life combining PA Capital, Madison Capital Funding, and Goldpoint Partners into one entity. Apogem Capital is based in New York City.

DEAL STATS #
Overall 21 of 52
Sector (Medical Products) 3 of 5
Type (Secondary Buyout) 9 of 25
State (Florida) 4 of 4
Country (United States) 21 of 52
Year (2017) 1 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-02-27 FTJ FundChoice

Hebron, Kentucky, United States

FTJ FundChoice is an SEC Registered Investment Advisor, provides advisors access to independent asset allocation strategies and model trading functionality. FTJ FundChoice assists advisors in simplifying their business by absorbing back office tasks, such as trade reconciliation, account administration, fee billing, and performance reporting, allowing the advisor to spend more time on client relationship-building activities.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-05-31 Double E

West Bridgewater, Massachusetts, United States

Double E is a manufacturer of highly-engineered components for web converting applications. The company's product offering includes critical wear components such as chucks, brakes, shafts, slitters, web guides, core cutters, and roll movers. These products secure, straighten, apply tension, cut, and move rolled raw materials through continuous manufacturing processes. Double E was established in 1972 and is headquartered in West Bridgewater, Massachusetts.

Sell -
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