M&A Deal Summary

Granite Partners Acquires Altimate Medical

On December 7, 2017, private equity firm Granite Partners acquired medical products company Altimate Medical from RockWood Equity Partners

Acquisition Highlights
  • This is Granite Partners’ 1st transaction in the Medical Products sector.
  • This is Granite Partners’ 13th transaction in the United States.
  • This is Granite Partners’ 11th transaction in Minnesota.

M&A Deal Summary
Date 2017-12-07
Target Altimate Medical
Sector Medical Products
Buyer(s) Granite Partners
Sellers(s) RockWood Equity Partners
Deal Type Secondary Buyout

Target

Altimate Medical

Morton, Minnesota, United States
Altimate Medical engages in the design, development, and manufacture of standing frames and equipment to improve the quality of life for kids and adults using wheelchairs. Altimate Medical was founded in 1987 and is based in Morton, Minnesota.

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Buyer(S) 1

Buyer

Granite Partners

St. Cloud, Minnesota, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2002
Size Small
Type Sector Agnostic
DESCRIPTION

Granite Equity Partners is a private equity firm that invests in established companies headquartered in the upper Midwest, with a preference for Minnesota based opportunities. Granite looks for businesses in a wide range of industries and targets management buyouts, recapitalizations, and growth capital financing transactions. Prospective companies generally have revenues between $10 to $100 million and EBITDA between $1 to $5 million. Granite Equity Partners was formed in 2002 and is based in St. Cloud, Minnesota with additional office in Northfield, Minnesota.

DEAL STATS #
Overall 13 of 13
Sector (Medical Products) 1 of 1
Type (Secondary Buyout) 2 of 2
State (Minnesota) 11 of 11
Country (United States) 13 of 13
Year (2017) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-05-02 Massman Companies

Villard, Minnesota, United States

Massman Companies provide a full line of automated packaging equipment including pouch filling, case packaging, shrink wrapping, palletizing and liquid filling solutions. Massman Companies was founded in 1978 and is based in Villard, Minnesota.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-03-06 Aeration Industries International

Chaska, Minnesota, United States

Aeration Industries International has been combining engineering expertise with patented technologies to develop reliable, customized, surface aeration and mixing wastewater treatment solutions worldwide for more than 40 years. The product line includes the Aire-O2 Triton® Aerator and Mixer, the Aire-O2® Antifouling Aspirator, and systems including The Tri-Oval® Oxidation Ditch, Argos® SBR, and the Aire- O2 Bio-ffilmTM Fixed Film Media System. The equipment and systems help to solve the most challenging industrial and municipal wastewater treatment needs. Aeration Industries has also expanded its market-leading capabilities with the Aire-O2® Series II Aspirator for aquaculture pond treatment. The Series II has proven to optimize oxygen dispersion to support sustainable fish growth across the globe.

Sell -

Seller(S) 1

SELLER

RockWood Equity Partners

Shaker Heights, Ohio, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1999
Size Small
Type Sector Agnostic
DESCRIPTION

RockWood Equity Partners is a private equity firm looking to acquire profitable lower-middle market North American companies generating sales of $10 to $75 million and EBITDA of $2 to $7 million. Target transaction types include management buyouts, recapitalizations, growth equity financings, and divestitures. Sectors of interest include aerospace, defense, healthcare, industrials/industrial technology, and business services. RockWood Equity Partners was formed in 1999 and is based in Cleveland, Ohio.

DEAL STATS #
Overall 14 of 21
Sector (Medical Products) 2 of 3
Type (Secondary Buyout) 4 of 4
State (Minnesota) 2 of 2
Country (United States) 12 of 19
Year (2017) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-02-01 XPER

Saxonburg, Pennsylvania, United States

XPER is a manufacturer of ballistic glass, advanced lighting, and accessories, specialty vehicles, and products serving the defense, law enforcement, government agency, and municipal sectors. XPER was founded in 2000 and is based in Saxonburg, Pennsylvania.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-03-01 Impact Environmental Group

Elgin, Illinois, United States

Impact Environmental Group is a manufacturer and distributor of wear parts and accessories for collection equipment in the waste industry, including dumpster lids, replacement bottoms, compactor parts, casters, and container parts. Impact Environmental Group is based in Elgin, Illinois.

Buy -
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