M&A Deal Summary

Landauer Acquires IZI Medical

On November 14, 2011, Landauer acquired medical products company IZI Medical from Fifth Street Capital and Riverside Partners for 93M USD

Acquisition Highlights
  • This is Landauer’s 2nd transaction in the Medical Products sector.
  • This is Landauer’s largest (disclosed) transaction.
  • This is Landauer’s 2nd transaction in the United States.
  • This is Landauer’s 1st transaction in Maryland.
Investment Fate
  • IZI Medical was divested to a consortium of buyers in 2016.
  • IZI Medical was sold to a publicly-traded strategic buyer in 2022 for 138M GBP.

M&A Deal Summary

Date 2011-11-14
Target IZI Medical
Sector Medical Products
Buyer(s) Landauer
Sellers(s) Fifth Street Capital
Riverside Partners
Deal Type Add-on Acquisition
Deal Value 93M USD

Target

IZI Medical

Owings Mills, Maryland, United States
IZI Medical is a developer, manufacturer, and provider of medical consumable accessories used in radiology, radiation therapy, vertebroplasty, and image-guided surgery procedures. IZI has built a diverse portfolio of products backed by strong intellectual property and currently sells to more than 1,000 domestic customers as well as internationally across 25 countries. IZI Medical was formed in 1991 and is based in Owings Mills, Maryland.

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Buyer(S) 1

Buyer

Landauer

Glenwood, Illinois, United States

Category Company
Founded 1954
Sector Technology Hardware
Employees600
Revenue 143M USD (2016)
DESCRIPTION

Landauer, Inc. provider of technical and analytical services to determine occupational and environmental radiation exposure. The company has provided complete radiation dosimetry services to hospitals, medical and dental offices, universities, national laboratories, nuclear facilities and other industries in which radiation poses a potential threat to employees. Landauer's services include the manufacture of various types of radiation detection monitors, the distribution and collection of the monitors to and from customers, and the analysis and reporting of exposure findings.


DEAL STATS #
Overall 3 of 3
Sector (Medical Products) 2 of 2
Type (Add-on Acquisition) 3 of 3
State (Maryland) 1 of 1
Country (United States) 2 of 2
Year (2011) 1 of 1
Size (of disclosed) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2009-11-09 Global Physics Solutions

Fairborn, Ohio, United States

Global Physics Solutions, Inc. is a provider of clinical physicist and dosimetrist support, commissioning of radiotherapy equipment and educational services to the oncology marketplace.

Buy $22M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-05-03 IZI Medical

Owings Mills, Maryland, United States

IZI Medical is a developer, manufacturer, and provider of medical consumable accessories used in radiology, radiation therapy, vertebroplasty, and image-guided surgery procedures. IZI has built a diverse portfolio of products backed by strong intellectual property and currently sells to more than 1,000 domestic customers as well as internationally across 25 countries. IZI Medical was formed in 1991 and is based in Owings Mills, Maryland.

Sell -

Seller(S) 2

SELLER
DESCRIPTION

Fifth Street Capital is a public investment firm focused on providing mezzanine financing to support expansions, acquisitions, recapitalizations, and management buyouts of middle-market US based companies. Fifth Street looks to invest between $5 and $50 million per transaction. Sectors of interest include consumer products, healthcare services, manufacturing, medical device manufacturing, food services, business services, restaurants, speciality retail, logistics, and value added distribution. Fifth Street Capital is based in White Plains, New York.


DEAL STATS #
Overall 4 of 59
Sector (Medical Products) 1 of 5
Type (Add-on Acquisition) 2 of 27
State (Maryland) 1 of 3
Country (United States) 3 of 58
Year (2011) 3 of 3
Size (of disclosed) 7 of 10
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-11-10 Securus Technologies

Dallas, Texas, United States

Securus Technologies is a provider of specialized telecommunications products and services, including security-enhanced call processing, call validation and billing for the corrections communications marketplace. Securus Technologies was founded in 1986 and is based in Dallas, Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-11-22 Digi-Star

Fort Atkinson, Wisconsin, United States

Digi-Star LLC is a manufacturer of weighing systems designed for agricultural equipment.

Buy -
SELLER

Riverside Partners

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1989
PE ASSETS 1.0B USD
Size Large
Type Sector Focused
DESCRIPTION

Riverside Partners is a specialist private equity firm focused on investments in healthcare and technology companies located throughout North America. The Firm has a particular interest in companies that are founder or family owned. Target companies are generally profitable with $3 to $15 million of EBITDA. Specific areas of interest within healthcare include suppliers to biopharmaceutical and medical device companies, medical technology and equipment, medical instrumentation, dental products and services, diagnostics and disposables, and specialized healthcare services. Areas of interest within technology include, analytical instrumentation, semiconductor equipment, industrial communications, wireless components, homeland security, and power generation technology. Transaction situations include partial or complete buyouts, recapitalizations, growth equity, divestitures, take privates, and strategic add-ons. Riverside Partners was formed in 1989 and is based in Boston, Massachusetts.


DEAL STATS #
Overall 12 of 33
Sector (Medical Products) 3 of 7
Type (Add-on Acquisition) 5 of 15
State (Maryland) 1 of 1
Country (United States) 12 of 33
Year (2011) 5 of 5
Size (of disclosed) 2 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-10-06 Sixnet Holdings

Ballston Lake, New York, United States

Sixnet is a privately held company that provides innovative market-leading machine-to-machine (M2M) data communications solutions. Sixnet’s worldwide customers benefit from its unique ability to integrate cellular modems, industrial automation products, and data connectivity products into rugged, reliable, and cost effective solutions.

Sell $72M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-11-28 ITC Global

St. Petersburg, Florida, United States

ITC Global, Inc. is a provider of satellite communications to the energy, mining, and maritime markets. Companies in remote and harsh environments require communications with both global coverage and unwavering customer service. ITC Global enables improved real-time decision making and enhanced health, safety and environmental management through a unified communications solution, tailored to the requirements of each client.

Buy -