M&A Deal Summary

Tecum Capital, NewSpring Capital and Leedon Park Capital Acquire Spirit Pharmaceuticals

On April 27, 2021, private equity firms Tecum Capital, NewSpring Capital and Leedon Park Capital acquired life science company Spirit Pharmaceuticals

Acquisition Highlights
  • This is Tecum Capital’s 1st, NewSpring Capital’s 12th and Leedon Park Capital’s 1st transaction in the Life Science sector.
  • This is Tecum Capital’s 66th, NewSpring Capital’s 157th and Leedon Park Capital’s 1st transaction in the United States.
  • This is Tecum Capital’s 4th, NewSpring Capital’s 13th and Leedon Park Capital’s 1st transaction in New York.

M&A Deal Summary

Date 2021-04-27
Target Spirit Pharmaceuticals
Sector Life Science
Buyer(s) Tecum Capital
NewSpring Capital
Leedon Park Capital
Deal Type Buyout (LBO, MBO, MBI)

Target

Spirit Pharmaceuticals

Ronkonkoma, New York, United States
Spirit Pharmaceuticals innovates, develops, packages, and distributes private-label, over-the-counter pharmaceutical products. Spirit Pharmaceuticals was founded in 2003 and is based in Ronkonkoma, New York.

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Buyer(S) 3

Buyer

Tecum Capital

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2005
PE ASSETS 750M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Tecum Capital is a private equity firm focused on lower middle-market companies across the Eastern-US. Tecum will consider a variety of investment situations including leveraged buyouts, management buyouts, successions, strategic acquisitions, growth capital financings, and recapitalizations. Investment sizes range from $5 - $20 million. Industries of interest include manufacturing, plastics, specialty distribution, technology, healthcare services, defense, food, and business/consumer services. Tecum will not consider investments in start-ups or real estate. Tecum Capital was formed in 2005 and is based in Wexford, Pennsylvania.


DEAL STATS #
Overall 66 of 83
Sector: Life Science M&A 1 of 1
Type: Buyout (LBO, MBO, MBI) M&A Deals 25 of 29
State: New York M&A 4 of 6
Country: United States M&A 66 of 83
Year: 2021 M&A 2 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-04-13 Home Care Delivered

Glen Allen, Virginia, United States

Home Care Delivered is a direct-to-patient provider of insurance covered medical supplies for diabetes, incontinence, urology, ostomy, and wound care products delivered directly to the patient's home. The company is dedicated to providing best-in-class customer support and quality supplies for patients and caregivers nationwide. Home Care Delivered was founded in 1996 and is based in Glen Allen, Virginia.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-07-16 BP Environmental Services

Chalfont, Pennsylvania, United States

BP Environmental Services is a provider of waste and recycling services. BP Environmental Services prides itself as a creative, solutions-driven company with a primary goal of helping businesses of all sizes optimize their equipment, supply, technology, and disposal solutions. BP Environmental Services was founded in 1998 and is based in Chalfont, Pennsylvania.

Buy -
Buyer

NewSpring Capital

Radnor, Pennsylvania, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1999
PE ASSETS 3.5B USD
Size Large
Type Sector Agnostic
DESCRIPTION

NewSpring Capital is a private investment firm focused on growth companies in the Mid-Atlantic US. The Firm can provide both growth equity and junior capital to prospective companies. NewSpring's target investment size for both mezzanine and equity financing is $2 to $5 million, although for new ventures, the Firm can commit up to $10 million. Sectors of interest include specialty manufacturing, technology, business services, information technology, life science, healthcare services, and medical devices. NewSpring Capital was formed in 1999 and is based in Radnor, Pennsylvania with an additional office in Short Hills, New Jersey.


DEAL STATS #
Overall 160 of 201
Sector: Life Science M&A 12 of 12
Type: Buyout (LBO, MBO, MBI) M&A Deals 33 of 44
State: New York M&A 13 of 17
Country: United States M&A 157 of 197
Year: 2021 M&A 9 of 19
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-04-26 First Impression Ironworks

Gilbert, Arizona, United States

First Impression Ironworks is a manufacturer and installer of custom ornamental ironwork serving the residential repair and remodels market. The Company boasts an expansive product line of decorative security doors, iron entry doors, gates, staircases, rails, and other iron products, all completely customizable by its metal artisans. First Impression Ironworks was founded in 1995 and is based in Gilbert, Arizona.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-04-28 SparkPost

Columbia, Maryland, United States

SparkPost is a provider of message management solutions and services for email service providers, Internet service providers, social networks, and large enterprises that need to manage large volumes of business-critical email. SparkPost was founded in 1997 and is based in Columbia, Maryland.

Sell $600M
DESCRIPTION

Leedon Park Capital is a private equity firm focused on partnering and developing lower middle-market companies in partnership with management. The Firm looks for profitable businesses with $15 to $100 million of revenue and operating in the healthcare, supply chain, services, manufacturing, and technology sectors. Prospective companies generally exhibit strong culture/management, defensible business models, and a seller willing to work with an outside team to pursue growth. Leedon Park Capital was formed in 2019 and is based in Charlotte, North Carolina.


DEAL STATS #
Overall 1 of 1
Sector: Life Science M&A 1 of 1
Type: Buyout (LBO, MBO, MBI) M&A Deals 1 of 1
State: New York M&A 1 of 1
Country: United States M&A 1 of 1
Year: 2021 M&A 1 of 1