M&A Deal Summary

Graham Partners Acquires Rhythmlink

On March 17, 2023, private equity firm Graham Partners acquired medical products company Rhythmlink from New Heritage Capital

Acquisition Highlights
  • This is Graham Partners’ 2nd transaction in the Medical Products sector.
  • This is Graham Partners’ 47th transaction in the United States.
  • This is Graham Partners’ 1st transaction in South Carolina.

M&A Deal Summary
Date 2023-03-17
Target Rhythmlink
Sector Medical Products
Buyer(s) Graham Partners
Sellers(s) New Heritage Capital
Deal Type Secondary Buyout

Target

Rhythmlink

Columbia, South Carolina, United States
Rhythmlink designs, manufactures, and distributes consumable medical electrodes and provides custom packaging, private labeling, and custom products to leading hospitals, medical centers, and service providers. It is recognized as a leader within its field in providing the important physical connection between patients and the diagnostic equipment to record or elicit neurophysiologic biopotentials. Rhythmlink was formed in 2002 and is based in Columbia, South Carolina.

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Buyer(S) 1

Buyer

Graham Partners

Newtown Square, Pennsylvania, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1988
PE ASSETS 5.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Graham Partners is a private equity that targets middle market industrial and manufacturing companies. The Firm seeks to invest in businesses based in the US and also consider investments in Canada and Western Europe. Graham Partners focuses on strong growth potential companies with high return on invested capital, led by experienced management teams in revenues between $30 - $500 million and EBITDA between $10 million and $50 million. The firm typically invests between $10 million and $100 million in equity and the balance via debt and can invest higher than $100 million through co-investments. Broad areas of interest include building products, water management, medical products, consumer products, packaged food & beverage, packaging, aerospace/defense, agriculture, capital equipment, energy related products, home and outdoor, sports and leisure, and transportation services. Prospective transaction types include MBOs, recapitalization and growth capital financing. Graham Partners is an affiliate of The Graham Group was formed in 1988 and is based in Newton Square, Pennsylvania.

DEAL STATS #
Overall 53 of 56
Sector (Medical Products) 2 of 2
Type (Secondary Buyout) 11 of 12
State (South Carolina) 1 of 1
Country (United States) 47 of 49
Year (2023) 2 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-02-28 Taoglas

Enniscorthy, Ireland

Taoglas is a provider of antenna and RF solutions, RF antenna, filter and cable solutions to innovative wireless and IoT companies around the world. Taoglas was founded in 2004 and is based in Enniscorthy, Ireland.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-07-01 Damping Technologies

Mishawaka, Indiana, United States

Damping Technologies is an advanced material science company focused on engineered aerospace vibration and noise control applications primarily serving the aerospace, defense, and space end markets. Damping Technologies was founded in 1989 and is based in Mishawaka, Indiana.

Sell -

Seller(S) 1

SELLER

New Heritage Capital

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2006
PE ASSETS 1.4B USD
Size Large
Type Sector Agnostic
DESCRIPTION

New Heritage Capital LLC is a private investment firm specializing in the acquisition and equity-based recapitalization of private, family owned businesses. Heritage looks to invest in growing, middle-market companies with at least $30 million in annual revenue and EBITDA of at least $4 million. Target sectors include aerospace, consumer products, food/beverage, media/publishing, healthcare, manufacturing, pet products, plastics/packaging, printing, and value-added distribution. New Heritage Capital LLC was formed in 2006 and is based in Boston, Massachusetts.

DEAL STATS #
Overall 19 of 22
Sector (Medical Products) 1 of 1
Type (Secondary Buyout) 11 of 12
State (South Carolina) 1 of 1
Country (United States) 17 of 19
Year (2023) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-03-08 Stratus

Shrewsbury, New Jersey, United States

Stratus is a provider of specialized technology services, including application managed services, implementation, and consulting. Stratus services the needs of clients across a broad range of industries, and has developed expertise in the unique requirements of clients in the P&C insurance space and users of the guidewire insurance management platform. Stratus was founded in 2001 and is based in Shrewsbury, New Jersey.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-08-01 Flying Colours

Peterborough, Ontario, Canada

Flying Colours is an aviation services company, that provides aircraft completions and maintenance services. Flying Colours specializes in all mid to large-sized business aircraft, including the bombardier global express and challenger families, dassault falcon, beechcraft/hawker and gulfstream models. Flying Colours was founded in 1989 and is based in Peterborough, Ontario.

Sell -
Mergr

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