Investment Summary

Kayne Anderson Capital Advisors and Thoma Bravo Invest In Circle Cardiovascular Imaging

On May 16, 2018, asset manager Kayne Anderson Capital Advisors and private equity firm Thoma Bravo invested in medical products company Circle Cardiovascular Imaging

Investment Highlights
  • This is Kayne Anderson Capital Advisors’ 1st and Thoma Bravo’s 1st transaction in the Medical Products sector.
  • This is Kayne Anderson Capital Advisors’ 13th and Thoma Bravo’s 2nd transaction in Canada.
  • This is Kayne Anderson Capital Advisors’ 10th and Thoma Bravo’s 1st transaction in Alberta.

Investment Summary

Date 2018-05-16
Target Circle Cardiovascular Imaging
Sector Medical Products
Investor(s) Kayne Anderson Capital Advisors
Thoma Bravo
Deal Type Growth Capital
Advisor(s) AGC Partners (Financial)
Osler (Legal)

Target

Circle Cardiovascular Imaging

Calgary, Alberta, Canada
Circle Cardiovascular Imaging develops world-class, advanced reading and reporting solutions for cardiac imaging. Circle CVI is a prominent company in the global cardiac imaging community, bringing together an experienced and dedicated team of over 150 people and offering multi-language support around the globe. Circle Cardiovascular Imaging was founded in 2007 and is based in Calgary, Alberta.

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Investor(S) 2

Investor

Kayne Anderson Capital Advisors

Los Angeles, California, United States

Investor Investor Investor Investor Investor


Category Asset Manager
Founded 1984
PE ASSETS 36.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Kayne Anderson Capital Advisors is an alternative investment management firm focused on hedge funds, public funds, energy private equity, growth private equity, real estate private equity, and mezzanine finance opportunities. Kayne's energy private equity group focuses on $20 to $100 million investments in high-growth exploration and production, midstream and oilfield service companies. The energy group considers both majority or minority stakes in public and private businesses. Kayne's growth private equity practice involves structured investments in public and private companies looking for capital to finance expansion. This group will also consider middle-market leveraged transactions and management buyouts. Kayne's real estate private equity group invests in established, cash-flow generating projects. Areas of interest include student housing and campus-oriented retail properties, amongst other opportunistic investments. The Group looks for acquisitions of $25 to $100 million. Kayne's mezzanine team looks to provide $20 to $35 million of capital for mid-market businesses with $100 to $500 million of sales and $10 to $50 million of EBITDA. Kayne Capital Advisors was formed in 1984 and is based in Los Angeles with additional offices in Armonk, New York; New York City, and Houston.


DEAL STATS #
Overall 152 of 177
Sector (Medical Products) 1 of 1
Type (Growth Capital) 38 of 51
State (Alberta) 10 of 10
Country (Canada) 13 of 17
Year (2018) 4 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-05-08 Intermedix

Fort Lauderdale, Florida, United States

Intermedix is a provider of healthcare information technology based business services to emergency providers. Intermedix was founded in 1983 and is based in Fort Lauderdale, Florida.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-07-01 Crown Energy

Oklahoma City, Oklahoma, United States

Crown Energy Resources is a private exploration and production company based in Oklahoma City, Oklahoma that focuses on developing oil and gas opportunities in the Mid-Continent region.

Sell -
Investor

Thoma Bravo

Chicago, Illinois, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1980
PE ASSETS 127.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Thoma Bravo is a private equity firm that primarily invests in or acquires US-based middle-market businesses. While Thoma Bravo will consider a variety of transaction situations, including take-privates, buyouts, carve-outs, recapitalizations, and growth equity financings, the Firm has a special interest in tech consolidation opportunities. Target companies generally have a history of profitability with EBITDA of at least $20 million. The Firm's equity commitment size range is $100 to $750 million. Sectors of interest include enterprise and infrastructure software, education, distribution, financial services and consumer goods/services. The Firm will not invest in new inventions or technologies, developmental products or services, start-ups, biotech, motion pictures, distressed businesses, oil/gas, or real estate. Thoma Bravo was formerly known as Thoma Cressey Bravo and before that Golder Thoma & Co. The Firm was originally formed in 1980 and is based in Chicago, Illinois.


DEAL STATS #
Overall 66 of 139
Sector (Medical Products) 1 of 1
Type (Growth Capital) 5 of 17
State (Alberta) 1 of 2
Country (Canada) 2 of 8
Year (2018) 3 of 13
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-04-03 Bomgar

Ridgeland, Mississippi, United States

Bomgar Corp. is a provider of secure access solutions. Bomgar enables customers to quickly access and protect endpoints, defend privileged credentials, and support technology end-users to help businesses fight cyber threats while speeding performance. Bomgar Corp. was founded in 2003 and is based in Ridgeland, Mississippi.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-05-21 PowerPlan

Atlanta, Georgia, United States

PowerPlan, Inc. is a provider of asset-centric accounting, tax, budgeting and analytics software solutions for asset-intensive businesses. PowerPlan was founded in 1994 and is based in Atlanta, Georgia.

Sell $1.1B