M&A Deal Summary

Libra Solutions Acquires Key Health

On May 15, 2017, Libra Solutions acquired healthcare services company Key Health from Blackford Capital, EW Healthcare Partners, Convergent Capital Partners and Bregal Sagemount

Acquisition Highlights
  • This is Libra Solutions’ 1st transaction in the Healthcare Services sector.
  • This is Libra Solutions’ 1st transaction in the United States.
  • This is Libra Solutions’ 1st transaction in California.

M&A Deal Summary

Date 2017-05-15
Target Key Health
Sector Healthcare Services
Buyer(s) Libra Solutions
Sellers(s) Blackford Capital
EW Healthcare Partners
Convergent Capital Partners
Bregal Sagemount
Deal Type Add-on Acquisition
Advisor(s) Houlihan Lokey (Financial)

Target

Key Health

Westlake Village, California, United States
Key Health manages a California based radiology and neurodiagnostic provider network that assists the workers' compensation and personal injury segments of the diagnostic services market. Key Health is based in Westlake Village, California.

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Buyer(S) 1

Buyer

Libra Solutions

Rosemont, Illinois, United States

Category Company
Founded 2003
Sector Financial Services
DESCRIPTION

Libra Solutions is a pre-settlement consumer legal funding provider. Libra Solutions was founded in 2003 and is based in Rosemont, Illinois.


DEAL STATS #
Overall 1 of 1
Sector: Healthcare Services M&A 1 of 1
Type: Add-on Acquisition M&A Deals 1 of 1
State: California M&A 1 of 1
Country: United States M&A 1 of 1
Year: 2017 M&A 1 of 1

Seller(S) 4

SELLER

Blackford Capital

Grand Rapids, Michigan, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2000
Size Small
Type Sector Agnostic
DESCRIPTION

Blackford Capital is a private investment firm that targets mature or growth-oriented manufacturing, distribution, and service companies located in North America. Specific areas of interest include paper; rubber and miscellaneous plastics; stone, clay, and glass products; primary metal industries; fabricated metal products; industrial machinery and equipment; and electronics and other electrical equipment. Blackford prefers situations where management is seeking to retire or exit. The Firm's target revenue range is between $20 and $100 million. Blackford Capital Partners was formed in 2000 and is based in Grand Rapids, Michigan.


DEAL STATS #
Overall 6 of 19
Sector: Healthcare Services M&A 1 of 1
Type: Add-on Acquisition M&A Deals 1 of 7
State: California M&A 4 of 4
Country: United States M&A 5 of 18
Year: 2017 M&A 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-04-24 Ellison Bakery

Fort Wayne, Indiana, United States

Ellison Bakery is a producer of cookies, snack bars, crunch and inclusion, and other products for the industrial market, foodservice industry, and retail and private label space. Ellison Bakery was founded in 1945 and is based in Fort Wayne, Indiana.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-08-01 Staging Concepts

Minneapolis, Minnesota, United States

Staging Concepts is a designer, manufacturer, and installer of staging solutions, stadium fixtures, portable stages, platforms, railings, and related equipment. Staging Concepts was founded in 1990 and is based in Minneapolis, Minnesota.

Sell -
SELLER

EW Healthcare Partners

Investor Investor Investor Investor Investor


Category Growth Capital Firm
Founded 1985
PE ASSETS 3.0B USD
Size Large
Type Sector Focused
DESCRIPTION

Essex Woodlands Health Ventures is a growth equity and venture capital specialist investment firm focused on opportunities across the healthcare sector. Specific areas of interest include biotechnology, pharmaceuticals, medical devices, and healthcare services/IT. Historically, Essex invested primarily in early and later-stage situations; however, today the firm also makes growth capital investments between $20 - $60 million in companies valued between $50 - $250 million, as well as private investments in public entities (PIPEs). Essex Woodlands was formed in 1985 and offices in Palo Alto, California; New York City; Houston, Texas; Shanghai and London.


DEAL STATS #
Overall 42 of 53
Sector: Healthcare Services M&A 6 of 7
Type: Add-on Acquisition M&A Deals 27 of 34
State: California M&A 16 of 17
Country: United States M&A 38 of 46
Year: 2017 M&A 2 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-05-09 MedAvante

Hamilton, New Jersey, United States

MedAvante is a clinical science-driven data services company dedicated to maximizing signal detection in global clinical trials. With VirgilÔ, its electronic clinical outcome assessment (eCOA) platform, clinical research sponsors are able to maximize outcome data quality and increase operational efficiency for clinical trials across multiple therapeutic areas. MedAvante built the first electronic source (eSource) data platform and has conducted more than 687,000 assessments of 56,000 clinical trial subjects across 233,000 study visits. MedAvante’s eSource data has been accepted by both the Food and Drug Administration and the European Medicines Agency in successful regulatory submissions.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-07-13 Venus Concept

Toronto, Ontario, Canada

Venus Concept is a medical technology company that develops, commercializes, and delivers safe, efficacious, and easy-to-use aesthetic technologies and related practice enhancement services in a unique, industry-disruptive subscription-based business model. Venus Concept was founded in 2002 and is based in Toronto, Ontario.

Buy -
SELLER
DESCRIPTION

Convergent Capital is a private investment firm that provides growth and debenture financing to late-stage growth companies. Convergent prefers to commit $3 to $12 million per transaction in businesses with at least $10 million in revenues. Convergent is a generalist investor and will consider businesses in a wide range of industries. Investment funds are typically used to assist growth, but the firm can also structure investments around buyouts, recapitalizations, consolidations, and add-on acquisitions. Convergent is licensed as a SBIC. Convergent Capital was formed in 1999 and is based in Minneapolis, Minnesota.


DEAL STATS #
Overall 34 of 44
Sector: Healthcare Services M&A 3 of 3
Type: Add-on Acquisition M&A Deals 9 of 14
State: California M&A 8 of 8
Country: United States M&A 34 of 44
Year: 2017 M&A 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-12-09 Rolloffs Hawaii

Honolulu, Hawaii, United States

Rolloffs Hawaii LLC is a provider of comprehensive waste services to Oahu, including commercial and industrial front loader routes, roll-off collection and disposal, residential side loader routes and recycling services. Rolloffs Hawaii is based in Honolulu, Hawaii.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-08-01 Staging Concepts

Minneapolis, Minnesota, United States

Staging Concepts is a designer, manufacturer, and installer of staging solutions, stadium fixtures, portable stages, platforms, railings, and related equipment. Staging Concepts was founded in 1990 and is based in Minneapolis, Minnesota.

Sell -
SELLER

Bregal Sagemount

Investor Investor Investor Investor Investor


Category Growth Capital Firm
Founded 2012
PE ASSETS 1.7B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Bregal Sagemount is a growth-focused private capital firm. The Firm provides flexible capital and strategic assistance to market-leading companies in high-growth sectors across a wide variety of transaction situations. Bregal Sagemount invests $8 to $150 million per transaction in a variety of sectors including software, digital infrastructure, healthcare IT, healthcare services, business and consumer services, financial technology, and specialty finance. Bregal Sagemount was formed in 2012 and is headquartered in New York City.


DEAL STATS #
Overall 15 of 39
Sector: Healthcare Services M&A 1 of 2
Type: Add-on Acquisition M&A Deals 8 of 16
State: California M&A 2 of 8
Country: United States M&A 14 of 36
Year: 2017 M&A 1 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-02-14 Single Digits

Bedford, New Hampshire, United States

Single Digits is a provider of high-speed internet access (HSIA) management and support solutions, guest management software and technical support services. Single Digits was founded in 2003 and is based in Bedford, New Hampshire.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-05-17 Information Builders

New York, New York, United States

Information Builders is a provider of solutions for business intelligence (BI), analytics, data integration, and data quality that help drive performance improvements, innovation, and value. Information Builders was established in 1975 and is based in New York City.

Buy -