M&A Deal Summary

Kohlberg & Company Acquires Trinity

On November 30, 2021, private equity firm Kohlberg & Company acquired life science company Trinity from Parthenon Capital

Acquisition Highlights
  • This is Kohlberg & Company’s 2nd transaction in the Life Science sector.
  • This is Kohlberg & Company’s 74th transaction in the United States.
  • This is Kohlberg & Company’s 3rd transaction in Massachusetts.

M&A Deal Summary

Date 2021-11-30
Target Trinity
Sector Life Science
Buyer(s) Kohlberg & Company
Sellers(s) Parthenon Capital
Deal Type Recapitalization
Advisor(s) Jefferies
Leerink Partners (Financial)
Kirkland & Ellis (Legal)

Target

Trinity

Waltham, Massachusetts, United States
Trinity is a trusted life sciences strategy consulting firm that takes a personalized approach to work with pharmaceutical, biotech, medical device, and diagnostic clients worldwide to create evidence-based solutions that drive business strategy and impact bottom lines. Trinity was founded in 1996 and is based in Waltham, Massachusetts.

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Buyer(S) 1

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 76 of 79
Sector (Life Science) 2 of 3
Type (Recapitalization) 3 of 3
State (Massachusetts) 3 of 3
Country (United States) 74 of 77
Year (2021) 5 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-10-29 SpecialtyCare

Brentwood, Tennessee, United States

SpecialtyCare is a provider of outsourced operating room services including perfusion and intraoperative neuromonitoring, autotransfusion, sterile processing management, surgical assist, and minimally invasive surgical support. SpecialtyCare was founded in 2006 and is based in Brentwood, Tennessee.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-02-02 Alacrity Solutions

Fishers, Indiana, United States

Alacrity Solutions is a provider of outsourced claims management solutions to insurance carriers. Alacrity was formed in 1976 and is based in Fishers, Indiana.

Sell -

Seller(S) 1

SELLER

Parthenon Capital

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1998
PE ASSETS 5.5B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Parthenon Capital is a private equity firm focused on investing in service-based businesses with recurring revenues, defensible niches and competitive advantages. Parthenon looks for businesses valued between $75 and $750 million operating in sectors that include business services, financial services, manufacturing, technology-enabled services, and distribution/logistics. Prospective transaction types include recapitalizations, management buyouts, acquisitions, privatizations, and growth capital financings. Parthenon Capital was formed in 1998 and has offices in Boston, Massachusetts and San Francisco, California.


DEAL STATS #
Overall 33 of 34
Sector (Life Science) 3 of 3
Type (Recapitalization) 2 of 2
State (Massachusetts) 5 of 5
Country (United States) 33 of 34
Year (2021) 5 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-11-02 Envysion

Superior, Colorado, United States

Envysion is a provider of video-driven business intelligence solutions. Envysion’s managed video as a service (MVaaS) platform transforms video surveillance into a strategic management tool. Envysion was founded in 2004 and is based in Superior, Colorado.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-12-13 KBRA

New York, New York, United States

KBRA provides credit ratings across a variety of CFG sectors and Structured Finance. The former includes Corporates, Financial Institutions, Funds, Insurance, Project and Infrastructure, Public Finance, and Sovereigns. Structured Finance offerings include all major sectors, including ABS, CMBS, RMBS, and Structured Credit. In addition to ratings, the firm provides insightful credit information and data through its KBRA Analytics Service. KBRA was founded in 2010 and is based in New York City.

Buy $900M