M&A Deal Summary

Kidd & Company, Spring Capital Partners and Plexus Capital Acquire NextPhase Medical Devices

On January 15, 2015, private equity firm Kidd & Company, mezzanine finance firm Spring Capital Partners and private equity firm Plexus Capital acquired medical products company NextPhase Medical Devices

Acquisition Highlights
  • This is Kidd & Company’s 2nd, Spring Capital Partners’ 1st and Plexus Capital’s 2nd transaction in the Medical Products sector.
  • This is Kidd & Company’s 8th, Spring Capital Partners’ 28th and Plexus Capital’s 59th transaction in the United States.
  • This is Kidd & Company’s 1st, Spring Capital Partners’ 1st and Plexus Capital’s 3rd transaction in New Jersey.

M&A Deal Summary

Date 2015-01-15
Target NextPhase Medical Devices
Sector Medical Products
Buyer(s) Kidd & Company
Spring Capital Partners
Plexus Capital
Deal Type Recapitalization

Target

NextPhase Medical Devices

Waldwick, New Jersey, United States
NextPhase Medical Devices is specialized in design, development and a manufacturing partner that helps OEMs bring low- to medium-volume complex medical devices. NextPhase Medical Devices was founded in 1999 and is based in Waldwick, New Jersey.

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Buyer(S) 3

Buyer

Kidd & Company

Old Greenwich, Connecticut, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1996
Size Small
Type Sector Agnostic
DESCRIPTION

Kidd & Company is a research driven private investment firm that studies markets and industries before committing to an investment idea. Typically, the Firm acquires several companies to form a platform business for future growth and expansion. Kidd & Company was formed in 1996 and is based in Greenwich, Connecticut.


DEAL STATS #
Overall 8 of 11
Sector (Medical Products) 2 of 2
Type (Recapitalization) 2 of 3
State (New Jersey) 1 of 1
Country (United States) 8 of 11
Year (2015) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-01-24 Imaginetics

Auburn, Washington, United States

Imaginetics is a manufacturer of precision metal components and assemblies for the aerospace industry. Imaginetics is based in Auburn, Washington.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-01-29 Colerain RV

Cincinnati, Ohio, United States

Colerain RV is a specialty retailer of recreational vehicles. Colerain RV operates RV dealership, providing sales of new and used RVs, related services, parts, and accessories for RV owners and camping enthusiasts. Colerain RV was founded in 1968 and is based in Cincinnati, Ohio.

Buy -
Buyer

Spring Capital Partners

Lutherville, Maryland, United States

Investor Investor


Category Mezzanine Finance Firm
Founded 1999
PE ASSETS 600M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Spring Capital Partners is a mezzanine finance provider for small to medium-sized businesses. Spring invests $2 to $20 million, primarily in the form of subordinated debt with equity features in each transaction. The Firm does not have an industry focus. Spring Capital looks for businesses located in the Mid-Atlantic US with revenues between $10 and $150 million. Spring Capital Partners was formed in 1999 and has offices in Baltimore, Maryland and Radnor, Pennsylvania.


DEAL STATS #
Overall 28 of 44
Sector (Medical Products) 1 of 2
Type (Recapitalization) 5 of 10
State (New Jersey) 1 of 1
Country (United States) 28 of 44
Year (2015) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-10-08 Ingo Money

Alpharetta, Georgia, United States

Ingo Money provides a risk-decisioning platform that approves and guarantees checks for banks, check cashers, and through the Good Funds Network, consumers. Ingo Money was established in 2001 and is based in Alpharetta, Georgia.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-08-04 PSI Molded Plastics

Wolfeboro, New Hampshire, United States

PSI Molded Plastics is a manufacturer of medium to large, customized and highly aesthetic plastic injection molded products utilizing structural foam, gas assist, and straight injection processes. PSI Molded Plastics is based in Wolfeboro, New Hamphire.

Sell -
Buyer

Plexus Capital

Charlotte, North Carolina, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1995
PE ASSETS 2.2B USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Plexus Capital is a private equity firm that invests in buyouts, acquisitions, recapitalizations and growth financings in the form of junior and/or equity capital. Plexus focuses on lower middle-market businesses located in the Mid-Atlantic and Southeast areas of the US. The Firm looks for businesses companies in the business services, consumer services, manufacturing, value-added distribution, and healthcare sectors with up to $2 to $15 million of cash-flow. Plexus Capital was formed in 1995 and is based in Charlotte, North Carolina.


DEAL STATS #
Overall 59 of 97
Sector (Medical Products) 2 of 2
Type (Recapitalization) 15 of 25
State (New Jersey) 3 of 3
Country (United States) 59 of 97
Year (2015) 1 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-12-04 GTT

McLean, Virginia, United States

GTT is a global telecommunications carrier and network integrator serving the data communications needs of large enterprise, government and carrier clients. GTT was founded in 2005 and is based in McLean, Virginia.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-01-16 Freight Force

Anaheim, California, United States

Freight Force, Inc. is a one-stop destination for nationwide cartage needs serving air freight forwarders, logistics providers, and other expedited freight companies. Freight Force specializes in first mile and last mile transportation services, facilitating the original pickup or the final delivery of international freight. Freight Force maintains partnerships with local and regional motor carriers in 52 metro areas and serves as a one-stop source for access to reliable, high quality, and specialized capacity across the entire United States.

Buy -