M&A Deal Summary

Genstar Capital, Crescent Capital Group and Northstar Capital Acquire Univita Health

On December 1, 2008, private equity firm Genstar Capital, mezzanine finance firm Crescent Capital Group and mezzanine finance firm Northstar Capital acquired healthcare services company Univita Health

Acquisition Highlights
  • This is Genstar Capital’s 3rd, Crescent Capital Group’s 2nd and Northstar Capital’s 1st transaction in the Healthcare Services sector.
  • This is Genstar Capital’s 26th, Crescent Capital Group’s 35th and Northstar Capital’s 31st transaction in the United States.
  • This is Genstar Capital’s 2nd, Crescent Capital Group’s 1st and Northstar Capital’s 1st transaction in Arizona.
Investment Fate
  • Univita Health went bankrupt in 2015.

M&A Deal Summary

Date 2008-12-01
Target Univita Health
Sector Healthcare Services
Buyer(s) Genstar Capital
Crescent Capital Group
Northstar Capital
Deal Type Consolidation

Target

Univita Health

Scottsdale, Arizona, United States
Univita Health is creating a unified environment to help people live and age with independence. By providing one place to find and manage resources which support independent aging, Univita makes it easier for individuals to live and age with dignity, in the setting they choose. Univita is accomplishing this by transforming home based care - integrating the complete range of in-home care needs from basic caregiving through complex home health care - and adding the support of the latest technologies.

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Buyer(S) 3

Buyer

Genstar Capital

San Francisco, California, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1988
PE ASSETS 50.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Genstar Capital is a private equity firm that seeks investments in life science, healthcare, medical products, industrial technology, software, financial services, packaging, building materials, manufacturing, and business services companies. Genstar looks to invest between $50 and $400 million of equity capital in businesses valued up to $1 billion. Target transaction situations include control-oriented leveraged buyouts of corporate divisions, privately held businesses or public companies, minority investments in privately held businesses or public companies, ownership restructurings/recapitalizations of privately held businesses, growth equity financings, partnerships with other strategic or financial buyers, and take privates. Genstar Capital was formed in 1988 and is based in San Francisco, California.


DEAL STATS #
Overall 29 of 112
Sector: Healthcare Services M&A 3 of 3
Type: Consolidation M&A Deals 1 of 5
State: Arizona M&A 2 of 2
Country: United States M&A 26 of 104
Year: 2008 M&A 4 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2008-11-25 MidCap Financial

Bethesda, Maryland, United States

MidCap Financial is a commercial finance company focused on providing debt solutions to middle-market healthcare companies. MidCap Financial was founded in 2008 and is based in Bethesda, Maryland.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2009-10-02 Panolam Surface Systems

Shelton, Connecticut, United States

Panolam Surface Systems is a manufacturer of thermally fused melamine (TFM) panels and high-pressure laminates (HPL). TFM and HPL are used to manufacture kitchen and bath cabinetry, residential and commercial furniture, store fixtures, and countertops. Panolam Surface Systems was founded in 1997 and is based in Shelton, Connecticut.

Sell -
Buyer

Crescent Capital Group

Los Angeles, California, United States

Investor Investor Investor Investor Investor


Category Mezzanine Finance Firm
Founded 1991
PE ASSETS 48.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Crescent Capital is a provider of debt securities to middle-market companies. Crescent looks to issue senior bank loans, high yield bonds, mezzanine debt and distressed debt to fund a variety of needs. The FIrm's direct lending group looks to provide $10 to $30 million to sponsor-backed companies that generate $5 to $40 million of EBITDA. Crescent's mezzanine practice typically provides junior capital to support buyouts, recapitalizations, and refinancings. Crescent Capital was formed in 1991 and was originally known as TCW/Crescent Mezzanine. The Firm has offices in Los Angeles, Boston, New York, and London.


DEAL STATS #
Overall 40 of 67
Sector: Healthcare Services M&A 2 of 5
Type: Consolidation M&A Deals 1 of 1
State: Arizona M&A 1 of 1
Country: United States M&A 35 of 54
Year: 2008 M&A 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2008-03-12 Press Ganey

South Bend, Indiana, United States

Press Ganey is a provider of healthcare performance solutions for hospitals, healthcare and home care providers. Press Ganey utilizes patient and employee surveys to collect vast amounts of proprietary data on behalf of clients to power its industry-leading benchmarking and analytics tools and advisory services. Press Ganey was founded in 1985 and is based in South Bend, Indiana.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2009-01-01 Natural Products Group

Dallas, Texas, United States

Natural Products Group, LLC (NPG) is a special purpose holding company that was created in December 2004 to acquire Levlad, Inc. and its subsidiary Arbonne International, Inc., leaders in the manufacture and distribution of personal care products.

Buy -
Buyer

Northstar Capital

Minneapolis, Minnesota, United States

Investor Investor Investor Investor Investor


Category Mezzanine Finance Firm
Founded 1993
PE ASSETS 1.7B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Northstar Capital is a mezzanine finance firm that provides junior capital to middle-market companies operating in the value-added distribution, light manufacturing, business services, financial services, education, and specialty healthcare sectors. Northstar's typical investment size is $5 to $30 million in businesses generating sales of $20 to $300 million with an EBITDA of at least $3 million. Prospective companies have stable cash flows and sustainable margins. Investments typically have maturities of five to eight years. Northstar does not invest in start-ups, real estate development, natural resource exploration, or high technology companies. Northstar Capital was formed in 1993 and is based in Minneapolis, Minnesota.


DEAL STATS #
Overall 32 of 121
Sector: Healthcare Services M&A 1 of 4
Type: Consolidation M&A Deals 2 of 4
State: Arizona M&A 1 of 1
Country: United States M&A 31 of 116
Year: 2008 M&A 6 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2008-10-29 All Tech Inspection

Corpus Christi, Texas, United States

All Tech Inspection offers inspection and non-destructive testing services to a diverse base of customers including refineries, petrochemical and chemical manufacturing facilities and natural gas processing plants.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2009-01-15 Crownline Boats

West Frankfort, Illinois, United States

Crownline Boats, Inc. is one of the largest single brands in the marine industry - worldwide. They are the third largest single manufacturer of sport boats.

Sell -