M&A Deal Summary

Gemspring Capital and NMP Capital Acquire Zavation

On July 7, 2021, private equity firm Gemspring Capital and mezzanine finance firm NMP Capital acquired medical products company Zavation from LongueVue Capital

Acquisition Highlights
  • This is Gemspring Capital’s 1st and NMP Capital’s 4th transaction in the Medical Products sector.
  • This is Gemspring Capital’s 16th and NMP Capital’s 80th transaction in the United States.
  • This is Gemspring Capital’s 1st and NMP Capital’s 1st transaction in Mississippi.

M&A Deal Summary
Date 2021-07-07
Target Zavation
Sector Medical Products
Buyer(s) Gemspring Capital
NMP Capital
Sellers(s) LongueVue Capital
Deal Type Secondary Buyout

Target

Zavation

Flowood, Mississippi, United States
Zavation is a designer and manufacturer of high-quality spinal implants, instruments, and biologics. Zavation designs, engineers, and manufactures a portfolio of spinal hardware covering key areas including thoracolumbar, cervical, interbody fusion, and minimally invasive surgery. Zavation was founded in 2012 and is based in Flowood, Mississippi.

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Buyer(S) 2

Buyer

Gemspring Capital

Category Private Equity Firm
Founded 2015
PE ASSETS 1.1B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Gemspring Capital is a private equity firm focused on making control equity investments and structured equity investments in lower middle-market companies headquartered in the United States and Canada. For platform investments, Gemspring targets companies with $5 to $500 million with strong competitive positions within sustainable market niches. Sectors of interest include business services, distribution/logistics, industrial services, media, technology, software, and niche manufacturing. Gemspring Capital is based in Westport, Connecticut.

DEAL STATS #
Overall 16 of 32
Sector (Medical Products) 1 of 1
Type (Secondary Buyout) 5 of 10
State (Mississippi) 1 of 1
Country (United States) 16 of 32
Year (2021) 4 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-06-10 Bridgeway

Moon Township, Pennsylvania, United States

Bridgeway is an asset-light transportation and logistics company that transports or arranges transport of heavy and over-dimensional freight for large and high-growth end markets serving the energy, infrastructure, and industrial sectors. Bridgeway was founded in 1988 and is based in Moon Township, Pennsylvania.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-11-08 OPEXUS

Washington, District of Columbia, United States

OPEXUS is a provider of case management software and IT services, primarily for government customers. OPEXUS was founded in 1988 and is based in Washington, District of Columbia.

Buy -
Buyer

NMP Capital

Minneapolis, Minnesota, United States

Investor Investor Investor Investor Investor

Category Mezzanine Finance Firm
Founded 2000
PE ASSETS 4.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

NMP Capital is an independent investment firm focused on providing junior capital to a variety of lower middle-market companies in partnership with financial sponsors. NMP looks to commit $20 to $75 million in profitable companies with at least $10 million of EBITDA. NMP will consider opportunities in a wide range of industries including distribution, manufacturing, healthcare, and consumer. NMP Capital was formed in 2000 and is based in Minneapolis, Minnesota.

DEAL STATS #
Overall 83 of 88
Sector (Medical Products) 4 of 4
Type (Secondary Buyout) 27 of 31
State (Mississippi) 1 of 1
Country (United States) 80 of 85
Year (2021) 2 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-02-01 recteq

Evans, Georgia, United States

recteq is a designer, marketer, and direct seller of premium pellet grills, accessories, and other consumable products. recteq’s continued technology-driven product innovation, direct-to-consumer distribution model, and top-notch customer service position recteq as a premium brand in the pellet grill space. recteq was founded in 2009 and is based in Evans, Georgia.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-10-11 Pentec Health

Glen Mills, Pennsylvania, United States

Pentec Health is a provider of specialty infusion services to patients who require access to complex pharmaceutical products and services outside of the hospital setting. Pentec Health was founded in 1983 and is based in Glen Mills, Pennsylvania.

Sell -

Seller(S) 1

SELLER

LongueVue Capital

Metairie, Louisiana, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2001
PE ASSETS 1.0B USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

LongueVue Capital is a private equity company that targets profitable, small to mid-sized companies generating up to $150 million of revenue. LongueVue will consider a variety of investment situations, including corporate divestitures and buyouts, recapitalization/acquisitions of family owned businesses with transition challenges, and turnarounds. LongueVue Capital was formed in 2001 and is based in Metairie, Louisiana.

DEAL STATS #
Overall 8 of 12
Sector (Medical Products) 1 of 1
Type (Secondary Buyout) 6 of 7
State (Mississippi) 1 of 1
Country (United States) 8 of 12
Year (2021) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-06-24 Traco Packaging

Orem, Utah, United States

Traco Packaging is a specialty provider of business-to-business packaging solutions. Traco Packaging was founded in 1985 and is based in Orem, Utah.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-10-26 Associated MetalCast

Oxford, Alabama, United States

Associated MetalCast is one precision manufacturer of tight tolerance, complex metal components for a variety of end markets, including water infrastructure, vertical transportation, agriculture, and automotive services. The Company offers a differentiated, full-service suite of capabilities across the componentry life cycle, including product development, sourcing, casting, machining, heat-treating, coating, finishing, assembly, inventory management, and distribution. Associated MetalCast was founded in 1998 and is based in Oxford, Alabama.

Buy -
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