M&A Deal Summary

Extendicare Acquires Arbor Health Care

On September 30, 1997, Extendicare acquired healthcare services company Arbor Health Care from Ballast Point Ventures and MPE Partners for 432M USD

Acquisition Highlights
  • This is Extendicare’s 2nd transaction in the Healthcare Services sector.
  • This is Extendicare’s largest (disclosed) transaction.
  • This is Extendicare’s 2nd transaction in the United States.
  • This is Extendicare’s 1st transaction in Ohio.

M&A Deal Summary
Date 1997-09-30
Target Arbor Health Care
Sector Healthcare Services
Buyer(s) Extendicare
Sellers(s) Ballast Point Ventures
MPE Partners
Deal Type Add-on Acquisition
Deal Value 432M USD

Target

Arbor Health Care

Lima, Ohio, United States
Arbor Health Care Co. is an operator of 31 nursing facilities in five U.S. states, also with an institutional pharmacy business and outpatient rehabilitation clinics in two states.

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Buyer(S) 1

Buyer

Extendicare

Markham, Ontario, Canada
Category Company
Founded 1968
Sector Healthcare Services
Employees23,000
Revenue 1.3B CAD (2023)
DESCRIPTION

Extendicare Real Estate Investment Trust operates as an unincorporated, open-ended limited purpose trust. It operate as a supplier of long-term care services in Canada with an aim of helping to relieve an overburdened hospital system. Extendicare was incorporated in 1968 and is headquartered in Markham, Canada.

DEAL STATS #
Overall 2 of 9
Sector (Healthcare Services) 2 of 9
Type (Add-on Acquisition) 2 of 4
State (Ohio) 1 of 1
Country (United States) 2 of 4
Year (1997) 1 of 1
Size (of disclosed) 1 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
1976-01-01 Medco Centers

Indiana, United States

Medco Centers, Inc. is a nursing home operator with 25 locations in Indiana and Kentucky.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2005-01-31 Assisted Living Concepts

Dallas, Texas, United States

Assisted Living Concepts, Inc. has a portfolio of 177 assisted living facilities, comprised of 122 owned properties and 55 leased facilities representing 6,838 units, located in 14 states.

Buy $278M

Seller(S) 2

SELLER

Ballast Point Ventures

Tampa, Florida, United States

Investor Investor Investor Investor Investor

Category Growth Capital Firm
Founded 2001
PE ASSETS 550M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Ballast Point Ventures is a private investment firm that targets growth businesses located in the South US. Ballast Point looks to commit $1 to $5 million of equity capital per transaction and looks for businesses in markets with annual revenues of at least $100 million. Sectors of interest include healthcare, information technology (IT), financial services, communications, business services, and consumer products/services. Ballast Point Ventures was formed in 2001 and is based in St. Petersburg, Florida.

DEAL STATS #
Overall 9 of 32
Sector (Healthcare Services) 3 of 6
Type (Add-on Acquisition) 2 of 12
State (Ohio) 1 of 1
Country (United States) 9 of 32
Year (1997) 3 of 4
Size (of disclosed) 1 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
1997-07-01 Centennial Healthcare

Atlanta, Georgia, United States

Centennial HealthCare Corporation provides a range of long-term healthcare services to meet the medical needs of elderly and post-acute patients. The Company provides basic and specialty healthcare services. Basic services include skilled nursing and support, housekeeping, laundry, dietary, recreational and social services. Specialty services include comprehensive rehabilitation therapy, respiratory therapy, infusion therapy, wound care, home health care and other subacute and specialty services.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
1997-10-01 ITC DeltaCom

Atlanta, Georgia, United States

ITC DeltaCom, Inc. provides local and long-distance phone service, enhanced data, Internet access, managed IP, network monitoring and management and operator services, as well as the sale and maintenance of customer premise equipment.

Sell -
SELLER

MPE Partners

Cleveland, Ohio, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1968
PE ASSETS 3.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

MPE Partners is a Midwest based investment firm principally focused private equity investments throughout North America. MPE has a preference for buyouts and recapitalizations of lower middle-market, family and entrepreneur owned businesses. The Firm looks for stand-alone companies operating in the 'high-value' manufacturing or business services sectors. MPE seeks businesses with at least $5 million of EBITDA and valued up to $250 million. MPE Partners is headquartered in Cleveland, Ohio.

DEAL STATS #
Overall 7 of 58
Sector (Healthcare Services) 1 of 2
Type (Add-on Acquisition) 4 of 27
State (Ohio) 1 of 8
Country (United States) 6 of 56
Year (1997) 1 of 1
Size (of disclosed) 5 of 10
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
1996-05-31 Gatan International

Pleasanton, California, United States

Gatan, Inc. is a manufacturer of instrumentation and software used to enhance and extend the operation and performance of electron microscopes. Gatan was founded in 1964 and is based in Pleasanton, California.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
1997-10-22 NBX

Andover, Massachusetts, United States

NBX Corporation is the developer of the world's first reliable, powerful, complete local area network telephone system that delivers convenience, improved productivity, and lower costs to the business organization.

Buy -
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