M&A Deal Summary

MedEquity Capital and Pine Street Capital Partners Acquire Tristan Medical Care

On July 1, 2014, private equity firm MedEquity Capital and mezzanine finance firm Pine Street Capital Partners acquired healthcare services company Tristan Medical Care

Acquisition Highlights
  • This is MedEquity Capital’s 6th and Pine Street Capital Partners’ 2nd transaction in the Healthcare Services sector.
  • This is MedEquity Capital’s 10th and Pine Street Capital Partners’ 19th transaction in the United States.
  • This is MedEquity Capital’s 2nd and Pine Street Capital Partners’ 3rd transaction in Massachusetts.

M&A Deal Summary

Date 2014-07-01
Target Tristan Medical Care
Sector Healthcare Services
Buyer(s) MedEquity Capital
Pine Street Capital Partners
Deal Type Recapitalization
Advisor(s) Provident Healthcare Partners (Financial)

Target

Tristan Medical Care

Raynham, Massachusetts, United States
Tristan Medical Care provides primary care, urgent care, and other medical services from seven locations in southeastern Massachusetts. Tristan Medical Care was founded in 2001 and is based in Raynham, Massachusetts.

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Buyer(S) 2

Buyer

MedEquity Capital

Wellesley Hills, Massachusetts, United States

Investor Investor Investor


Category Private Equity Firm
Founded 1999
Size Middle-Market
Type Sector Focused
DESCRIPTION

MedEquity Capital LLC is a specialist private equity firm that invests in mid- to late-stage healthcare service and product companies. MedEquity's focus within healthcare services includes provider based services, out-sourced non-core services, infrastructure-focused businesses, product companies with low technology risk, and technology driven service companies. MedEquity will consider both control and non-control investments and looks invest between $5 and $30 million per transaction. Investment funds are typically used to support recapitalizations, acquisitions, and growth. MedEquity Capital LLC was formed in 2002 and is based in Wellesley Hills, Massachusetts.


DEAL STATS #
Overall 10 of 15
Sector: Healthcare Services M&A 6 of 10
Type: Recapitalization M&A Deals 4 of 5
State: Massachusetts M&A 2 of 2
Country: United States M&A 10 of 15
Year: 2014 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-12-12 LiceGuard

Needham, Massachusetts, United States

LiceGuard is a manufacturer and seller of lice products to major retailers in North America (Walmart, Walgreens, CVS) and over 30 countries internationally. LiceGuard is based in Needham, Massachusetts.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-09-16 PharmaLogic

Boca Raton, Florida, United States

PharmaLogic operates regional nuclear pharmacies throughout the U.S. which compound and dispense patient-specific intravenous drugs and solutions for use in diagnostic imaging and radiopharmaceutical therapy. PharmaLogic was formed in 1993 and is based in Boca Raton, Florida.

Buy -
Buyer

Pine Street Capital Partners

Albany, New York, United States

Investor Investor Investor Investor Investor


Category Mezzanine Finance Firm
Founded 2004
PE ASSETS 425M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Pine Street Capital Partners provides mezzanine capital to small and medium-sized private and public companies. PSCP will consider investments from $3 to $15 million in companies generating at least $10 million of sales. Target sectors include manufacturing, business services, consumer products, healthcare and media. PSCP prefers investments in the Northeast and Mid-Atlantic regions of the US, but will consider opportunities nationwide. Investment funds are typically used to support strategic acquisitions, growth, management and employee buyouts, and leveraged recapitalization. PSCP will not invest in the real estate, biotech and oil & gas industries. Pine Street Capital Partners was formed in 2004 and is based in Albany, New York.


DEAL STATS #
Overall 19 of 49
Sector: Healthcare Services M&A 2 of 4
Type: Recapitalization M&A Deals 4 of 7
State: Massachusetts M&A 3 of 6
Country: United States M&A 19 of 49
Year: 2014 M&A 2 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-07-01 Carthage Specialty Paperboard

Carthage, New York, United States

Carthage Specialty Paperboard, Inc. is a manufacturer of uncoated recycled paperboard used in premium specialty applications. Carthage Specialty Paperboard is based in Carthage, New York.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-08-05 EMT

St. Louis, Missouri, United States

EMT provides non-emergency medical and student transportation, helping individuals with special needs lead fuller, more active lives. The company offers ambulatory, para-lift, and stretcher services to government agencies, hospitals, schools, nursing homes, and other institutions. EMT was founded in 1996 and is based in St. Louis, Missouri.

Buy -