M&A Deal Summary

Hale Capital Partners and Tennenbaum Capital Partners Acquire Novanta

On January 1, 2010, private equity firm Hale Capital Partners and asset manager Tennenbaum Capital Partners acquired technology hardware company Novanta

Acquisition Highlights
  • This is Hale Capital Partners’ 2nd and Tennenbaum Capital Partners’ 1st transaction in the Technology Hardware sector.
  • This is Hale Capital Partners’ 3rd and Tennenbaum Capital Partners’ 3rd transaction in the United States.
  • This is Hale Capital Partners’ 1st and Tennenbaum Capital Partners’ 2nd transaction in Massachusetts.
Investment Fate
  • Novanta went public in 2015.

M&A Deal Summary

Date 2010-01-01
Target Novanta
Sector Technology Hardware
Buyer(s) Hale Capital Partners
Tennenbaum Capital Partners
Deal Type Special Situations/Distressed

Target

Novanta

Bedford, Massachusetts, United States
Novanta is a provider of core technology solutions that give medical and advanced industrial original equipment manufacturers a competitive advantage. The Company combines deep proprietary technology expertise and competencies in precision medicine and manufacturing, medical solutions, and robotics and automation with a proven ability to solve complex technical challenges. Novanta was founded in 1968 and is based in Bedford, Massachusetts.

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Buyer(S) 2

Buyer

Hale Capital Partners

New York, New York, United States

Investor Investor Investor


Category Private Equity Firm
Founded 2007
Size Small
Type Sector Agnostic
DESCRIPTION

Hale Capital Partners is a small, private investment firm focused on minority or control investments in publicly-held companies or their subsidiaries. The Firm looks to partner with management when pursuing opportunities and generally targets 'under-appreciated' companies where there's an ability to grow with existing products/services or through acquisitions. Hale Capital Partners was found in 2007 and is based in New York City.


DEAL STATS #
Overall 3 of 10
Sector: Technology Hardware M&A 2 of 2
Type: Special Situations/Distressed M&A Deals 1 of 1
State: Massachusetts M&A 1 of 2
Country: United States M&A 3 of 10
Year: 2010 M&A 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-01-01 Nwm Mining

Toronto, Ontario, Canada

NWM Mining Corporation engages in the acquisition, exploration, and development of mineral properties, with a focus on gold in Mexico. The mine is an open pit heap leach operation in Sonora State, Mexico.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2010-07-07 Telanetix

Bellevue, Washington, United States

Telanetix Inc., is a communications service provider offering next generation voice services to the business market through voice over IP (VoIP). The company's voice offerings give business customers a flexible calling solution, a simple installation experience, and advanced PBX functionality at a low price.

Buy -
Buyer

Tennenbaum Capital Partners

Santa Monica, California, United States

Category Asset Manager
Founded 1999
PE ASSETS 18.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION
Tennenbaum Capital Partners' headquarters in Santa Monica, California.
Tennenbaum Capital Partners' headquarters in Santa Monica, California.

Tennenbaum Capital Partners is a private investment group focused on providing financing solutions to middle-market companies in a variety of sectors. The Firm separates its activity into two segments - performing and distressed. The performing group looks to invest $10 to $125 million to support recapitalizations, LBOs, acquisitions, and growth capital needs of companies valued between $100 million and $1.5 billion. The special situations group looks to provide $20 to $125 million to support rescue needs, as well as fund complex situations or secondary market purchases. Tennenbaum primarily considers opportunities in North America and Europe, but will consider other geographies. Tennenbaum Capital Partners was formed in 1999 and is based in Santa Monica, California.


DEAL STATS #
Overall 4 of 9
Sector: Technology Hardware M&A 1 of 1
Type: Special Situations/Distressed M&A Deals 1 of 2
State: Massachusetts M&A 2 of 2
Country: United States M&A 3 of 8
Year: 2010 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2006-07-03 Online Resources

Chantilly, Virginia,

Online Resources Corporation powers financial interactions between millions of consumers and the company’s financial institution and biller clients. Backed by its proprietary real-time payments gateway that links banks directly with billers, the company provides web and phone-based financial services, electronic payments and marketing services to drive consumer adoption.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-06-01 Circana

Chicago, Illinois, United States

Circana is a provider of big data, predictive analytics and forward-looking insights that help CPG companies, OTC health care organizations, retailers, financial services and media companies grow their businesses. Circana was founded in 1979 and is based in Chicago, Illinois.

Sell -