M&A Deal Summary

H.I.G. Private Equity and Charlesbank Capital Partners Acquire TLC Laser Eye Centers

On February 3, 2010, private equity firms H.I.G. Private Equity and Charlesbank Capital Partners acquired healthcare services company TLC Laser Eye Centers

Acquisition Highlights
  • This is H.I.G. Private Equity’s 8th and Charlesbank Capital Partners’ 2nd transaction in the Healthcare Services sector.
  • This is H.I.G. Private Equity’s 72nd and Charlesbank Capital Partners’ 28th transaction in the United States.
  • This is H.I.G. Private Equity’s 6th and Charlesbank Capital Partners’ 1st transaction in Ohio.

M&A Deal Summary

Date 2010-02-03
Target TLC Laser Eye Centers
Sector Healthcare Services
Buyer(s) H.I.G. Private Equity
Charlesbank Capital Partners
Deal Type Special Situations/Distressed

Target

TLC Laser Eye Centers

Cincinnati, Ohio, United States
TLC Laser Eye Centers is an eye care services company, providing eye doctors with the tools and technologies needed to deliver high-quality patient care. Through its centers' management, technology access service models, extensive optometric relationships, direct-to-consumer advertising and managed care contracting strength, TLC Laser Eye Centers maintains leading positions in refractive, cataract and eye care markets. TLC Laser Eye Centers is based in Cincinnati, Ohio.

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Buyer(S) 2

Buyer

H.I.G. Private Equity

Miami, Florida, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1993
PE ASSETS 65.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

HIG Private Equity is the private equity arm of HIG Capital. The Firm focuses on management buyouts, growth equity investments, and recapitalizations of mid-sized to large companies valued between $50 million and $1 billion. HIG will also consider industry consolidations, going-privates, and corporate divestitures. Sectors of interest include aerospace, building materials, business services, consumer products, distribution, healthcare, infrastructure, contracting, manufacturing, media, oil & gas services, IT, and transportation. HIG was formed in 1993 is based in Miami, Florida.


DEAL STATS #
Overall 79 of 383
Sector: Healthcare Services M&A 8 of 27
Type: Special Situations/Distressed M&A Deals 5 of 8
State: Ohio M&A 6 of 9
Country: United States M&A 72 of 249
Year: 2010 M&A 6 of 22
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-01-13 TRAKAmerica

Bonita Springs, Florida, United States

TRAKAmerica is a provider of data-driven outsourced credit recovery solutions to top-tier banks, financing companies, and national debt buyers. TRAK manages a nationwide network of certified attorney firms and collection agencies throughout the entire recovery process on behalf of its clients. TRAKAmerica was founded in 2000 and is based in Bonita Springs, Florida.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2010-02-11 Witex Flooring Products

Augustdorf, Germany

Witex Flooring Products is a manufacturer of laminate, parquette and other flooring materials.

Buy -
Buyer

Charlesbank Capital Partners

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1998
PE ASSETS 6.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Charlesbank Capital Partners is a private equity firm focused on investing in companies at various stages of development, including private and public companies, distressed situations, as well as later stage high growth businesses. Charlesbank typically invests $50 to $150 million per deal, in companies valued between $150 million and $3 billion. Industries of interest include consumer products, distribution, energy, financial services, food, education, health-care products and services, manufacturing, media and communications, and retail. Charlesbank Capital Partners is based in Boston, Massachusetts with an additional office in New York City.


DEAL STATS #
Overall 32 of 91
Sector: Healthcare Services M&A 2 of 5
Type: Special Situations/Distressed M&A Deals 1 of 2
State: Ohio M&A 1 of 4
Country: United States M&A 28 of 80
Year: 2010 M&A 1 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2009-10-29 Blacksmith Brands Holdings

Tarrytown, New York, United States

Blacksmith Brands Holdings, Inc. markets, sells and distributes over-the-counter drug and personal care products. Its platform today consists of five over-the-counter consumer products brands: EFFERDENT® denture cleaner; EFFERGRIP® denture adhesive cream; LUDEN'S® throat drops; NASALCROM® nasal allergy relief spray; and PEDIACARE® children's cough and cold medicine and Gentle Vapors® waterless vaporizer.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2010-03-31 Papa Murphy’s

Vancouver, British Columbia, Canada

Papa Murphy’s is a franchisor and operator of the largest Take ‘n’ Bake pizza brand in the United States, selling hand-crafted, fresh pizzas for customers to bake at home. Papa Murphy’s operates over 1,400 franchised and corporate-owned stores in 37 U.S. states, Canada, and the United Arab Emirates. Papa Murphy’s core purpose is to help anyone with an oven and 15 minutes serve a scratch-made meal. In addition to fresh pizzas, the Company offers hand-crafted salads, sides, and desserts to complete the meal. Order online today at www.papamurphys.com for easy pick up everywhere, and find Papa Murphy’s on your favorite delivery apps in select markets.

Sell -