Secondary Buyout • Life Science

Linden Capital Partners Acquires BioIVT

On October 5, 2021, private equity firm Linden Capital Partners acquired life science company BioIVT from Arsenal Capital Partners

Acquisition Context
  • This is Linden Capital Partners’ 8th transaction in the Life Science sector.
  • This is Linden Capital Partners’ 43rd transaction in the United States.
  • This is Linden Capital Partners’ 1st transaction in New York.

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M&A Deal Summary

Date October 5, 2021
Target BioIVT
Sector Life Science
Buyer(s) Linden Capital Partners
Sellers(s) Arsenal Capital Partners
Deal Type Secondary Buyout
Advisor(s) Jefferies (Financial)

Target Company

BioIVT

Hicksville, New York, United States
BioIVT is a provider of biological products to life sciences and pharmaceutical companies. BioIVT specializes in control and disease state matrices manufactured from human and animal blood, plasma, serum, tissues, and other fluids which are used in drug discovery, compound development, clinical and research diagnostics. BioIVT was founded in 1981 and is based in Hicksville, New York.
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Buyer Overview 1

Buyer

Linden Capital Partners

Chicago, Illinois, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2004
PE ASSETS 3.0B USD
Size Large
Type Sector Focused
DESCRIPTION

Linden LLC is a private equity firm that invests in businesses involved in the healthcare and life science sectors. However, the firm also executes any size private equity transaction between $10 million to $2 billion through the firm's alliance with Madison Dearborn Partners. Linden is not a venture capital investor. The firm specializes in investments in non-core businesses owned by large corporations, as well as traditional management buyouts of independent companies. Linden LLC was formed in 2004 and is based in Chicago, Illinois.


Deal Context for Buyer #
Overall 43 of 50
Sector: Life Science 8 of 10
Type: Secondary Buyout 15 of 19
State: New York 1 of 1
Country: United States 43 of 48
Year: 2021 6 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-09-28 Formulated Solutions

Largo, Florida, United States

Formulated Solutions specializes in innovating, formulating, and packaging solutions for pharmaceutical, cosmetic, personal healthcare, and specialty chemical applications. Formulated Solutions was founded in 1999 and is based in Largo, Florida.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-01-05 Smile Doctors

Dallas, Texas, United States

Smile Doctors operates as an orthodontic support organization in the U.S., providing business management and operational services to affiliated orthodontic practices. It supports a network of practices that offer orthodontic treatments such as braces and aligners, helping with administrative and operational functions so clinicians can focus on patient care. Smile Doctors was founded in 2015 and is based in Dallas, Texas.

Sell -

Seller Profile 1

SELLER

Arsenal Capital Partners

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2000
PE ASSETS 10.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Arsenal Capital Partners is a private equity firm focused on middle-market healthcare, specialty industrial, and financial service companies. Specifically, Arsenal looks to acquire businesses in the areas of specialty chemicals, aerospace/defense, transportation, environmental services, business services, insurance, asset management, financial technology, medical products, healthcare IT, and healthcare contract research/manufacturing. The Firm typically seeks to commit $50 to $300 million per investment in profitable businesses with at least $10 million of EBITDA. Funds are generally used to support buyouts, recapitalizations, growth financings, consolidations, and divestitures. The Firm avoids investing in companies reliant on high levels of technology. Arsenal Capital Partners was formed in 2000 and is headquartered in New York City.


Deal Context for Seller #
Overall 31 of 36
Sector: Life Science 3 of 4
Type: Secondary Buyout 15 of 17
State: New York 2 of 2
Country: United States 30 of 33
Year: 2021 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-04-06 Fenzi Group

Tribiano , Italy

Fenzi Group is a provider of state-of-the-art technologies related to glass processing. The company specializes in manufacturing insulating glass sealants and spacers, decorative paints, and solar coatings for various construction and industrial end markets. Fenzi Group was founded in 1941 and is based in Milan, Italy.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-11-02 AvCarb

Lowell, Massachusetts, United States

AvCarb is a manufacturer of application-enabled carbon components for hydrogen fuel cells and electrolyzers, flow batteries, automotive and industrial applications. AvCarb's main products include engineered carbon-based products, such as advanced gas diffusion layers and molded graphite layers, woven carbon fabrics, and carbon felts used in electrochemical and friction applications. AvCarb is based in Lowell, Massachusetts.

Buy -