M&A Deal Summary

H.I.G. Private Equity and Windjammer Capital Acquire Propel Health

On June 19, 2001, private equity firm H.I.G. Private Equity and mezzanine finance firm Windjammer Capital acquired marketing company Propel Health

Acquisition Highlights
  • This is H.I.G. Private Equity’s 1st and Windjammer Capital’s 1st transaction in the Marketing sector.
  • This is H.I.G. Private Equity’s 12th and Windjammer Capital’s 17th transaction in the United States.
  • This is H.I.G. Private Equity’s 1st and Windjammer Capital’s 1st transaction in New Jersey.

M&A Deal Summary
Date 2001-06-19
Target Propel Health
Sector Marketing
Buyer(s) H.I.G. Private Equity
Windjammer Capital
Deal Type Buyout (LBO, MBO, MBI)

Target

Propel Health

Gladstone, New Jersey, United States
Propel Health is a pharmaceutical marketing services firm specializing in providing a broad range of strategic value-added services to leading pharmaceutical and biotechnology companies worldwide. Healthstar's product offering includes advertising agency services, continuing education, sample fulfillment, patient recruitment, physician meetings and symposiums, as well as direct-to-consumer marketing services through controlled venues. Propel Health was founded in 1974 and is based in Gladstone, New Jersey.

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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 LLC. The firm focuses on management buyouts, growth equity investments, and recapitalizations of middle market companies with an enterprise value of $50 - $1000 million. The Firm also will consider add-on acquisitions, 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 and has offices in Miami, Atlanta, Boston, and San Francisco. HIG's European affiliate is HIG Europe with offices in London, Hamburg, and Paris.

DEAL STATS #
Overall 12 of 370
Sector (Marketing) 1 of 18
Type (Buyout (LBO, MBO, MBI)) 11 of 113
State (New Jersey) 1 of 7
Country (United States) 12 of 246
Year (2001) 4 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2001-03-21 Source Electronics

Hollis, New Hampshire, United States

Source Electronics Corporation is a independent provider of outsourced, custom programming services for integrated circuits. The Company is the only independent programming provider that supports its customers with a global footprint to rapidly shift production to meet the large volume requirements of multi-national customers.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2001-07-12 Viasys

Lakeland, Florida, United States

Viasys Corp provider of construction, engineering, and maintenance services to the power distribution and intelligent transportation system sectors.

Buy -
Buyer

Windjammer Capital

Newport Beach, California, United States

Investor Investor Investor Investor Investor

Category Mezzanine Finance Firm
Founded 1990
PE ASSETS 2.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Windjammer Capital Investors is a private investment firm that invests control equity, minority equity, and/or subordinated debt in growing middle-market businesses. The Firm seeks to invest between $50 and $200 million of equity or subordinated debt in companies that generate at least $8 million of EBITDA. Windjammer focuses on North American-based opportunities and prefers companies with scalable business models, differentiated products/services, and that operate in defensible markets. Broad sectors of interest include manufacturing, business services and value-added distribution. Windjammer does not invest in high technology, real estate, and financial services companies. Windjammer Capital Investors was formed in 1990 and has offices in Waltham, Massachusetts and Newport Beach, California.

DEAL STATS #
Overall 17 of 48
Sector (Marketing) 1 of 1
Type (Buyout (LBO, MBO, MBI)) 15 of 26
State (New Jersey) 1 of 2
Country (United States) 17 of 48
Year (2001) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2001-03-01 Medtech Holdings

Irvington, New York, United States

Medtech Holdings, Inc. is a consumer brand management company with a focus on health-related, niche market OTC and supplement products.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2002-07-01 Ohio Community Media

Tipp City, Ohio, United States

Ohio Community Media LLC is a community newspaper business that operates numerous paid daily and weekly papers.

Buy -
Mergr

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