M&A Deal Summary

Frazier Healthcare Partners Acquires CSafe Global

On December 24, 2020, growth capital firm Frazier Healthcare Partners acquired life science company CSafe Global from Altaris and Thomas H. Lee Partners

Acquisition Highlights
  • This is Frazier Healthcare Partners’ 16th transaction in the Life Science sector.
  • This is Frazier Healthcare Partners’ 40th transaction in the United States.
  • This is Frazier Healthcare Partners’ 2nd transaction in Ohio.

M&A Deal Summary

Date 2020-12-24
Target CSafe Global
Sector Life Science
Buyer(s) Frazier Healthcare Partners
Sellers(s) Altaris
Thomas H. Lee Partners
Deal Type Recapitalization

Target

CSafe Global

Monroe, Ohio, United States
CSafe Global is a provider of cold chain packaging solutions that address the global supply chain needs of the biopharmaceutical industry. CSafe Global’s climate-controlled containers are designed to maintain high-value and temperature-sensitive biopharmaceutical cargo at precise temperatures for extended periods of time and in extreme external conditions. CSafe Global is based in Monroe, Ohio.

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Buyer(S) 1

Buyer
DESCRIPTION

Frazier Healthcare Partners is a private equity and venture capital firm specializing in Growth buyout investment specifically targets businesses that deal Healthcare, Life Sciences, Pharmaceutical services, medical products, and related sectors. Frazier Healthcare Partners was formed in 1991 and is based in Seattle, Washington with an additional office in Palo Alto, California; Boston, Massachusetts; and Menlo Park, California.


DEAL STATS #
Overall 41 of 48
Sector (Life Science) 16 of 17
Type (Recapitalization) 2 of 2
State (Ohio) 2 of 2
Country (United States) 40 of 47
Year (2020) 4 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-10-26 Accuity Delivery Systems

Mount Laurel, New Jersey, United States

Accuity Delivery Systems is a revenue cycle management business that provides clinical documentation improvement, coding and quality assurance and provider education services to its hospital clients. Accuity Delivery Systems is based in Mount Laurel, New Jersey.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-03-19 Northfield Medical

Novi, Michigan, United States

Northfield Medical is a company provider of surgical instrument repair and management services to acute care hospitals, ambulatory surgery centers and other alternate site providers in the U.S. Northfield Medical was founded in 1996 and is based in Novi, Michigan.

Sell $475M

Seller(S) 2

SELLER

Altaris

New York City, New York, United States

Category Private Equity Firm
Founded 2003
PE ASSETS 10.0B USD
Size Mega
Type Sector Focused
DESCRIPTION

Altaris is a specialist private equity firm that targets investments in the healthcare industry. Altaris focuses its investment activity across the healthcare sector, including pharmaceuticals, medical devices, healthcare services and healthcare IT. Altaris will consider both control and non-control investment situations requiring $15 to $50 million of equity capital. Prospective investment situations include corporate carve-outs, leveraged buyouts, and growth equity/recapitalization investments. Altaris was formed in 2004 and is based in New York, New York.


DEAL STATS #
Overall 21 of 24
Sector (Life Science) 2 of 2
Type (Recapitalization) 3 of 3
State (Ohio) 3 of 3
Country (United States) 19 of 22
Year (2020) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-12-12 Kindeva Drug Delivery

Woodbury, Minnesota, United States

Kindeva Drug Delivery engages in drug delivery that partners with pharmaceutical and biotech companies to develop and manufacture pharmaceutical products using its unique inhalation, transdermal, microneedle, or conventional drug delivery technologies. Kindeva Drug Delivery was formed in 2020 and is based in Woodbury, Minnesota.

Buy $650M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-03-01 Padagis

Allegan, Michigan, United States

Padagis is a generic prescription pharmaceutical company having more than 1,300 employees across six locations in the United States and Israel. The company’s diversified and specialized portfolio consists of over 200 product families and 800 SKUs, with a focus on extended topical dosage forms, including creams, ointments, lotions, gels, foams, liquids, and nasal sprays. Padagis is based in Allegan, Michigan.

Buy $1.6B
SELLER

Thomas H. Lee Partners

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1974
PE ASSETS 35.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Thomas H. Lee Partners (THL) is a private equity firm that seeks buyout, expansion, consolidation, distressed, and recapitalization investments across various industries. Sectors of interest include business and information services, consumer products/retail, financial services, healthcare, industrial, and media/communications. THL looks to invest $100 to $400 million in companies valued up to $2.5 billion. THL was formed in 1974 and is based in Boston, Massachusetts.


DEAL STATS #
Overall 51 of 54
Sector (Life Science) 3 of 3
Type (Recapitalization) 2 of 2
State (Ohio) 2 of 2
Country (United States) 43 of 45
Year (2020) 9 of 9
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-12-08 System One

Pittsburgh, Pennsylvania, United States

System One is a provider of managed staffing and technical outsourcing solutions to improve productivity, specializing in the energy, engineering, information technology, commercial and scientific sectors. System One is the sixth largest engineering staffing companies and the forty-second largest staffing company overall in the U.S. System One is based in Pittsburgh, Pennsylvania.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-02-08 Ashling Partners

Chicago, Illinois, United States

Ashling Partners is a professional services & technology firm that drives efficiency gains and process improvement through Robotic Process Automation (RPA), Process Discovery, and targeted Artificial Intelligence (AI). Ashling Partners was founded in 2017 and is based in Chicago, Illinois.

Buy -