M&A Deal Summary

Nautic Partners Acquires Pyramid Healthcare

On May 10, 2021, private equity firm Nautic Partners acquired healthcare services company Pyramid Healthcare from Clearview Capital, Northstar Capital and Brookside Capital Partners

Acquisition Highlights
  • This is Nautic Partners’ 13th transaction in the Healthcare Services sector.
  • This is Nautic Partners’ 65th transaction in the United States.
  • This is Nautic Partners’ 3rd transaction in Pennsylvania.

M&A Deal Summary

Date 2021-05-10
Target Pyramid Healthcare
Sector Healthcare Services
Buyer(s) Nautic Partners
Sellers(s) Clearview Capital
Northstar Capital
Brookside Capital Partners
Deal Type Secondary Buyout

Target

Pyramid Healthcare

Duncansville, Pennsylvania, United States
Pyramid Healthcare is a provider of drug/alcohol and mental health treatment for adults and adolescents with 21 treatment facilities throughout Pennsylvania. Pyramid Healthcare is based in Duncansville, Pennsylvania.

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Buyer(S) 1

Buyer

Nautic Partners

Providence, Rhode Island, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1986
PE ASSETS 9.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Nautic Partners is a private equity firm focused on middle-market company investments based in the US. Nautic looks to invest $50 to $400 million of equity in businesses valued between $100 million and $1 billion. Nautic's industry focus is business services, manufacturing, healthcare, and communications. Prospective investment structures include buyouts, recapitalizations, consolidations, and growth financings. Nautic prefers majority investment positions. Nautic Partners was formed in 1986 and is based in Providence, Rhode Island.


DEAL STATS #
Overall 66 of 77
Sector (Healthcare Services) 13 of 16
Type (Secondary Buyout) 18 of 22
State (Pennsylvania) 3 of 5
Country (United States) 65 of 76
Year (2021) 2 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-05-10 Spartech

St. Louis, Missouri, United States

Spartech is a producer of plastic products including polymeric compounds, concentrates, custom extruded sheet and roll stock products, and packaging solutions for a wide spectrum of customers. Spartech was founded in 1960 and is based in St. Louis, Missouri.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-08-11 Aurora Plastics

Streetsboro, Ohio, United States

Aurora Plastics produces customized rigid polyvinyl chloride (“RPVC”) compounds for extruding and injection molding customers throughout North America. Aurora provides quality and service through highly automated manufacturing facilities in Ohio and North Carolina. Aurora Plastics was founded in 1997 and is based in Streetsboro, Ohio.

Buy -

Seller(S) 3

SELLER

Clearview Capital

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1999
PE ASSETS 645M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Clearview Capital LLC is a private equity firm that targets investments in North American companies with operating profits between $4 and $20 million. Sectors of interest include general manufacturing, plastics, food processing, furniture, education, healthcare, outsourcing, distribution, oil field services, consumer products, and industrial. The Firm prefers majority investment situations in transaction types that include corporate divestitures, management buyouts, and ownership transfers of closely-held companies. Clearview Capital was formed in 1999 and has offices in Connecticut, California.


DEAL STATS #
Overall 20 of 24
Sector (Healthcare Services) 2 of 4
Type (Secondary Buyout) 14 of 17
State (Pennsylvania) 3 of 3
Country (United States) 20 of 24
Year (2021) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-12-18 MBI Industrial Medicine

Phoenix, Arizona, United States

MBI Industrial Medicine is a provider of occupational injury care services. MBI Industrial Medicine was founded in 1982 and is based in Phoenix, Arizona.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-07-15 Barcode

Bentonville, Arkansas, United States

Barcode optimizes growth for forward-thinking CPG companies in Walmart and Sam’s Club through complete account management and an unmatched suite of services and expertise. The company allows its clients to appreciate a hands-off and thriving Walmart business, which empowers them to redirect their efforts and expand in other retailers. Barcode was formed in 2006 and is based in Bentonville, Arkansas.

Buy -
SELLER

Northstar Capital

Minneapolis, Minnesota, United States

Investor Investor Investor Investor Investor


Category Mezzanine Finance Firm
Founded 1993
PE ASSETS 1.7B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Northstar Capital is a mezzanine finance firm that provides junior capital to middle-market companies operating in the value-added distribution, light manufacturing, business services, financial services, education, and specialty healthcare sectors. Northstar's typical investment size is $5 to $30 million in businesses generating sales of $20 to $300 million with an EBITDA of at least $3 million. Prospective companies have stable cash flows and sustainable margins. Investments typically have maturities of five to eight years. Northstar does not invest in start-ups, real estate development, natural resource exploration, or high technology companies. Northstar Capital was formed in 1993 and is based in Minneapolis, Minnesota.


DEAL STATS #
Overall 59 of 80
Sector (Healthcare Services) 3 of 3
Type (Secondary Buyout) 22 of 26
State (Pennsylvania) 6 of 6
Country (United States) 57 of 76
Year (2021) 4 of 11
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-04-21 MBH Settlement Group

Chantilly, Virginia, United States

MBH Settlement Group is a provider of residential real estate Title and Settlement Services, Mortgage Lending, and the practice of law in Virginia, Maryland, and the District of Columbia. MBH Settlement Group was founded in 1994 and is based in Chantilly, Virginia.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-06-11 KDV Label

Waukesha, Wisconsin, United States

KDV Label provides a wide range of flexographic label solutions, including UV flexographic, multi-layer constructions, IRC’s and foil labels. KDV Label was established in 1974 and is based in Waukesha, Wisconsin.

Buy -
SELLER

Brookside Capital Partners

Investor Investor Investor Investor Investor


Category Mezzanine Finance Firm
Founded 2001
PE ASSETS 1.2B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Brookside Capital Partners is an investment management firm focused on stable lower-middle market companies in the US. The Firm typically commits $5 to $30 million per transaction to support buyouts, leveraged recapitalizations, strategic acquisitions and growth. Potential businesses generally have revenue greater than $15 million, and EBITDA of at least $4 million. Industries of interest include business services, consumer, distribution, healthcare, manufacturing, and transportation and logistics. Brookside Capital Partners was established in 2001 and is based in Stamford, Connecticut.


DEAL STATS #
Overall 13 of 24
Sector (Healthcare Services) 2 of 3
Type (Secondary Buyout) 7 of 13
State (Pennsylvania) 3 of 3
Country (United States) 13 of 24
Year (2021) 2 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-04-21 South Bay Home Health Care

Torrance, California, United States

South Bay is a regional supplier of durable and disposable medical equipment. The Company operates in three complementary business segments: Direct-To-Patient Supplies (including urology catheter, incontinence, and other supplies), complex rehab technology equipment (including wheelchairs, scooters, adaptive seating systems, alternative positioning systems, and other accessories), and a retail showroom. South Bay Home Health Care was founded in 1984 and is based in Torrance, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-06-10 American Equipment

Salt Lake City, Utah, United States

American Equipment is a distributor of overhead cranes and hoists. American Equipment is based in Salt Lake City, Utah.

Buy -