Recapitalization • Life Science

Kohlberg & Company Acquires Trinity Life Sciences

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

Acquisition Context
  • 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.

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M&A Deal Summary

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

Target Company

Trinity Life Sciences

Waltham, Massachusetts, United States
Trinity Life Sciences is a global provider of outsourced commercialization solutions for pharmaceutical and biopharmaceutical companies, with specialization in evidence-based solutions and data-driven insights that enable clients to bring complex life-changing therapies to market successfully. Trinity Life Sciences was founded in 1996 and is based in Waltham, Massachusetts.
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Buyer Overview 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 Context for Buyer #
Overall 75 of 82
Sector: Life Science 2 of 3
Type: Recapitalization 3 of 3
State: Massachusetts 3 of 3
Country: United States 74 of 81
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 Profile 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 Context for Seller #
Overall 33 of 35
Sector: Life Science 3 of 3
Type: Recapitalization 2 of 2
State: Massachusetts 5 of 6
Country: United States 33 of 35
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