M&A Deal Summary

Kohlberg & Company and IMCO Acquire Ob Hospitalist Group

On September 27, 2021, private equity firm Kohlberg & Company and asset manager IMCO acquired healthcare services company Ob Hospitalist Group from Gryphon Investors

Acquisition Highlights
  • This is Kohlberg & Company’s 8th and IMCO’s 1st transaction in the Healthcare Services sector.
  • This is Kohlberg & Company’s 72nd and IMCO’s 1st transaction in the United States.
  • This is Kohlberg & Company’s 3rd and IMCO’s 1st transaction in South Carolina.

M&A Deal Summary
Date 2021-09-27
Target Ob Hospitalist Group
Sector Healthcare Services
Buyer(s) Kohlberg & Company
IMCO
Sellers(s) Gryphon Investors
Deal Type Secondary Buyout
Advisor(s) Moelis & Co.
J.P. Morgan Securities (Financial)
Kirkland & Ellis (Legal)

Target

Ob Hospitalist Group

Greenville, South Carolina, United States
Ob Hospitalist Group is a provider of 24/7 obstetric coverage, serving approximately 200 hospitals across 34 states. OBHG’s national network of over 1,100 skilled and dedicated obstetric physicians provides best‐in‐class critical care while improving patient safety and clinical outcomes. The Company’s specialized services benefit patients, physicians, payors, community OB/GYN groups, and hospitals, and supports long‐term growth for its partners. Ob Hospitalist Group was founded in 2006 and is based in Greenville, South Carolina.

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Buyer(S) 2

Buyer

Kohlberg & Company

Mount Kisco, New York, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1987
PE ASSETS 11.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Kohlberg & Company is a private equity firm which acquires middle-market companies with consistent cash flow, and underperforming companies with operational deficiencies. Kohlberg looks to commit $100 to $500 million of equity capital in opportunities valued from $200 million to $2 billion. Kohlberg generally looks for opportunities in the manufacturing and service sectors, however the Firm will also selectively consider businesses in food and healthcare. Kohlberg tends not to consider technology or communications companies. Kohlberg & Company was formed in 1987 and has offices in Mt. Kisco, New York.

DEAL STATS #
Overall 74 of 79
Sector (Healthcare Services) 8 of 9
Type (Secondary Buyout) 28 of 32
State (South Carolina) 3 of 3
Country (United States) 72 of 77
Year (2021) 3 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-08-18 Myers EPS

Bethlehem, Pennsylvania, United States

Myers EPS is a designer and manufacturer of backup power solutions for emergency lighting and uninterrupted power supply systems for the cable, traffic, and rail end markets. Myers EPS products include centralized and mini inverters, which supply power to critical end markets during an outage. Myers EPS is based in Bethlehem, Pennsylvania.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-10-19 BluSky Restoration

Centennial, Colorado, United States

BluSky Restoration is a provider of commercial, industrial, governmental, and multi-family restoration, renovation, environmental, and roofing services with an emphasis on commercial, large losses, and emergency restoration services across the continental United States. BluSky Restoration was founded in 2004 and is based in Centennial, Colorado.

Buy -
Buyer

IMCO

Investor Investor Investor Investor Investor

Category Asset Manager
Founded 2016
PE ASSETS 5.9B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Investment Management Corporation of Ontario (IMCO) is an asset manager focused on North American and European companies. IMCO invests in a variety of strategies including credit, infrastructure, private equity, and real estate. Within private equity, the Firm invests in a range of sectors including business services, consumer products, technology, media and communications, healthcare, and financial services. IMCO was founded in 2016 and is headquartered in Toronto, Ontario.

DEAL STATS #
Overall 3 of 5
Sector (Healthcare Services) 1 of 1
Type (Secondary Buyout) 2 of 3
State (South Carolina) 1 of 1
Country (United States) 1 of 1
Year (2021) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-08-05 Power Solutions

Chester, United Kingdom

Power Solutions is a UK energy consultancy having long-standing, trusted relationships with more than 20 of the UK’s leading providers of gas and electricity to find the best contract for your business. In partnership with virgin media business, the company also offers a range of broadband and telecoms services, including voom fibre. And in the newly deregulated water market, we can negotiate business water contracts for you at a competitive price. It helps clients from negotiation to the overall management of contracts from beginning to end, saving you time, hassle and money. Power Solutions was founded in 2005 and is based in Chester, United Kingdom.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-06-20 Northvolt

Stockholm, Sweden

Northvolt is a European supplier of sustainable, high-quality battery cells and systems. Northvolt has made swift progress on its mission to deliver lithium-ion battery with a minimal CO2 footprint and has grown to over 4,500 people from over 110 different nationalities. Northvolt was founded in 2016 and is based in Stockholm, Sweden.

Buy -

Seller(S) 1

SELLER

Gryphon Investors

San Francisco, California, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1997
PE ASSETS 8.9B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Gryphon Investors is a private equity firm focused on making $50 to $300 million of equity or equity-linked investments in middle-market companies. Target transaction situations include traditional buyouts, leveraged build-ups, and growth financings. Gryphon will consider both control and shared-control positions. Sectors of interest include business services, consumer, retail, automotive, chemicals, general manufacturing, healthcare, and hotels. Gryphon Investors was formed in 1997 and is based in San Francisco, California.

DEAL STATS #
Overall 30 of 36
Sector (Healthcare Services) 6 of 6
Type (Secondary Buyout) 12 of 15
State (South Carolina) 1 of 1
Country (United States) 30 of 36
Year (2021) 4 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-07-01 Heritage Distribution

Birmingham, Alabama, United States

Heritage Distribution is a distributor of heating, ventilating, air conditioning, and refrigeration (HVAC/R) parts, equipment, and supplies to HVAC/R contractors in the Southeastern and Midwestern US. Heritage Distribution is based in Birmingham, Alabama.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-10-04 Southern Home Services

Maitland, Florida, United States

Southern Home Services is a residential home services provider, specializing in HVAC, plumbing and electrical maintenance, service & replacement. Southern operates multiple brands throughout central Florida, North Carolina, and Texas. Southern Home Services was founded in 2016 and is based in Maitland, Florida.

Buy -
Mergr

Product

Company

Legal