M&A Deal Summary

Inverness Graham Investments and Balance Point Capital Partners Acquire Innovia Medical

On April 4, 2023, private equity firm Inverness Graham Investments and mezzanine finance firm Balance Point Capital Partners acquired medical products company Innovia Medical from Shore Capital Partners

Acquisition Highlights
  • This is Inverness Graham Investments’ 5th and Balance Point Capital Partners’ 1st transaction in the Medical Products sector.
  • This is Inverness Graham Investments’ 34th and Balance Point Capital Partners’ 38th transaction in the United States.
  • This is Inverness Graham Investments’ 2nd and Balance Point Capital Partners’ 3rd transaction in Minnesota.

M&A Deal Summary
Date 2023-04-04
Target Innovia Medical
Sector Medical Products
Buyer(s) Inverness Graham Investments
Balance Point Capital Partners
Sellers(s) Shore Capital Partners
Deal Type Secondary Buyout
Advisor(s) Piper Sandler & Co. (Financial)
Winston & Strawn (Legal)

Target

Innovia Medical

St. Paul, Minnesota, United States
Innovia Medical is a developer and manufacturer of products including ear, nose, and throat (ENT), Tissu-Trans, InstruSafe Instrument Protection Trays and Care + Maintenance Products, EarPopper and Minne Ties Agile MMF products. Innovia Medical was founded in 2015 and is based in St. Paul, Minnesota.

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Buyer(S) 2

Buyer

Inverness Graham Investments

Newtown Square, Pennsylvania, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2003
PE ASSETS 1.0B USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Inverness Graham Investments is the private equity arm of The Graham Group. The Firm looks to make controlling investments in lower mid-market companies throughout the US. Inverness targets capital-efficient businesses with strong/sustainable cash flow, differentiated products, and operating in growing markets. The Firm seeks to commit $20 to $80 million in companies valued up to $75 million. Sectors of interest include aerospace/defense, biotech/pharmaceuticals, building materials, business services, consumer services, packaging, industrial equipment/components, electronic equipment, food/beverages, medical devices/supplies, energy & power products/services, specialty chemicals, and technology hardware. Prospective transaction situations include buyouts, growth capital financings, recapitalizations, consolidations, and divestitures. Inverness Graham Investments was formed in 2003 and is based in Philadelphia. The Firm has an additional office in Los Angeles.

DEAL STATS #
Overall 34 of 36
Sector (Medical Products) 5 of 5
Type (Secondary Buyout) 6 of 6
State (Minnesota) 2 of 2
Country (United States) 34 of 36
Year (2023) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-01-25 Treat Planet

Earth City, Missouri, United States

Treat Planet produces and makes natural, healthy, eco-friendly premium pet products sourced. Treat Planet was founded in 2009 and is based in Earth City, Missouri.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-01-09 Syntrio

Northbrook, Illinois, United States

Syntrio provides governance, risk, compliance, and human resource solutions that help more than 6,500 organizations make the workplace a better place. Its solutions include a comprehensive ethics reporting hotline and case management system, and seven modern training libraries in employment law and harassment, ethics and compliance, diversity and inclusion, health and safety, business skills, cybersecurity, and hotline learning. Syntrio is based in Northbrook, Illinois.

Sell -
Buyer

Balance Point Capital Partners

Westport, Connecticut, United States

Investor Investor Investor Investor Investor

Category Mezzanine Finance Firm
Founded 2007
PE ASSETS 1.7B USD
Size Small
Type Sector Agnostic
DESCRIPTION

Balance Point Capital Advisors is a provider of equity and debt capital to middle-market US-based companies. The Firm looks to invest $5 to $30 million in companies generating $10 $150 million in revenue. The Firm invest in the range of $15 to $75 million with and enterprise value of $10 to $150 million. Funds are used to support a variety of needs, including private equity sponsored buyouts, strategic acquisitions, refinancing's, management buyouts, leveraged recapitalizations, and growth capital financing needs. Balance Point Capital is based in Westport, Connecticut.

DEAL STATS #
Overall 39 of 46
Sector (Medical Products) 1 of 2
Type (Secondary Buyout) 3 of 5
State (Minnesota) 3 of 3
Country (United States) 38 of 44
Year (2023) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-03-14 Supreme Optimization

San Juan, Puerto Rico

Supreme Optimization is a digital marketing agency focused exclusively on the life sciences industry. The company helps clients accelerate growth through digital transformation by providing digital strategy, paid advertising, paid social, and website development services. Supreme Optimization was founded in 2015 and is based in San Juan, Puerto Rico.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-04-10 BenefitHub

New York City, New York, United States

BenefitHub provides a voluntary benefits and employee engagement platform serving over 10M employees, many of which are employed at global Fortune 1000 enterprise customers including Amazon, Walmart, Lowe’s, Johnson & Johnson, American Airlines, UPS, AT&T and Target. BenefitHub’s cloud-based technology platform enables employers the ability to offer their workforce with access to a large portfolio of voluntary benefits solutions, insurance products and discounted consumer goods and services, improving recruitment and employee retention. BenefitHub was founded in 1999 and is based in New York City.

Buy -

Seller(S) 1

SELLER

Shore Capital Partners

Chicago, Illinois, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2009
PE ASSETS 350M USD
Size Middle-Market
Type Sector Focused
DESCRIPTION

Shore Capital Partners is a private equity group focused on opportunities in healthcare, food/beverages, and business services. Specific healthcare areas of interest include infusion therapy, laboratory services, laboratory products/distribution, outpatient rehab therapy, and behavioral health. Shore looks to invest in proven businesses with stable cash-flows and 'significant' growth potential. Prospective companies typically have $5 to $50 million in sales and $1 to $7 million of EBITDA. Shore Capital was formed in 2009 and is based in Chicago, Illinois.

DEAL STATS #
Overall 10 of 12
Sector (Medical Products) 4 of 4
Type (Secondary Buyout) 4 of 5
State (Minnesota) 2 of 2
Country (United States) 10 of 12
Year (2023) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-02-13 CSI

Hillsboro, Kansas, United States

CSI is a manufacturer of rigid plastic packaging services, specializing in the production of PET containers and HDPE containers for specialty food & beverage and other manufacturers. CSI was founded in 1991 and is based in Hillsboro, Kansas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-07-06 Empower Aesthetics

Austin, Texas, United States

Empower Aesthetics is a national aesthetics platform that provides the tools, support, and strategy to empower aesthetic owners and practices to reach new heights while maintaining the highest quality of care. Empower Aesthetics is headquartered in Austin, Texas.

Buy -
Mergr

Product

Company

Legal