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  6. New Mountain Capital and AIMCo Acquire Emmes

M&A Deal Summary

New Mountain Capital and AIMCo Acquire Emmes

On June 21, 2022, private equity firm New Mountain Capital and pension AIMCo acquired life science company Emmes from Behrman Capital

Acquisition Highlights
  • This is New Mountain Capital’s 3rd and AIMCo’s 3rd transaction in the Life Science sector.
  • This is New Mountain Capital’s 81st and AIMCo’s 18th transaction in the United States.
  • This is New Mountain Capital’s 2nd and AIMCo’s 1st transaction in Maryland.

M&A Deal Summary
Date 2022-06-21
Target Emmes
Sector Life Science
Buyer(s) New Mountain Capital
AIMCo
Sellers(s) Behrman Capital
Deal Type Secondary Buyout
Advisor(s) Edmond de Rothschild
Baird (Financial)
Goodwin Procter (Legal)

Target

Emmes

Rockville, Maryland, United States
Emmes is a global, tech-enabled full-service clinical research organization (CRO) platform dedicated to supporting the advancement of public health and biopharmaceutical innovation. Emmes was founded in 1977 and is based in Rockville, Maryland.

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Buyer(S) 2

Buyer

New Mountain Capital

New York, New York, United States
Category Private Equity Firm
Founded 2000
PE ASSETS 35.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

New Mountain Capital is a private investment firm focused on investment in public and private companies in a variety of industries. New Mountain generally invests $100 to $500 million per transaction and looks for businesses with strong market positions and high barriers to entry. New Mountain also prefers businesses that succeed in both good and bad economies. Sectors of interest include education, healthcare, business services, federal IT services, media, software, consumer products, logistics, financial services and technologies, and energy. New Mountain Capital was formed in 2000 and is based in New York City.

DEAL STATS #
Overall 85 of 103
Sector: Life Science M&A 3 of 3
Type: Secondary Buyout M&A Deals 34 of 39
State: Maryland M&A 2 of 2
Country: United States M&A 81 of 98
Year: 2022 M&A 4 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-04-11 Citrin Cooperman

New York, New York, United States

Citrin Cooperman is a professional services firm that has steadily built its business serving a diverse and loyal clientele. The company provides a comprehensive, integrated business approach to traditional services, which includes proactive insights throughout the lifecycle of clients wherever they do business, across the globe. Citrin Cooperman & Company, LLP, a licensed independent CPA firm that provides attest services, and Citrin Cooperman Advisors LLC which provides business advisory and non-attest services, operate as an alternative practice structure in accordance with the AICPA’s Code of Professional Conduct and applicable laws, regulations and professional standards. Citrin Cooperman was formed in 1979 and is based in New York, New York.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-07-01 Summit Wash Holdings

Palm Beach Gardens, Florida, United States

Summit Wash Holdings is the owner and operator of a rapidly expanding network of express car washes located in the Northeast, Midwest and Southeast regions. The company operates under two brands, Russell Speeder’s and Waters Car Wash, both dedicated to providing customers with exceptional car wash experiences. Summit Wash Holdings was formed in 2022 and is based in Palm Beach Gardens, Florida.

Buy -
Buyer

AIMCo

Investor Investor Investor Investor Investor

Category Pension
Founded 2008
PE ASSETS 179.6B CAD
Size Mega
Type Sector Agnostic
DESCRIPTION

AIMCo is a Canadian diversified institutional investment manager serving pension, endowment and government funds in the province of Alberta. In addition to investing in public equities, fixed income, and debt, AIMCo looks to invest in private equity, real estate, timberlands, and infrastructure. AIMCo's private equity group invests in funds and directly in companies throughout North America and Western Europe. Areas of interest include consumer, industrials, business services, financial services, technology, and healthcare. AIMCo is based in Edmonton, with additional offices in Toronto and London.

DEAL STATS #
Overall 34 of 40
Sector: Life Science M&A 3 of 3
Type: Secondary Buyout M&A Deals 11 of 15
State: Maryland M&A 1 of 1
Country: United States M&A 18 of 22
Year: 2022 M&A 2 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-03-20 Anaplan

Miami, Florida, United States

Anaplan develops cloud-based software for creating sales, operations, and finance models and business plans. Anaplan was founded in 2008 and is based in Miami, Florida.

Buy $10.7B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-07-20 Cando Rail & Terminals

Brandon, Manitoba, Canada

Cando Rail & Terminals design, build, operate, finance, and maintain rail solutions. Cando Rail & Terminals provides Sophisticated tracking and analytics, inventory management, and scheduled maintenance programs. Cando Rail & Terminals was founded in 1978 and is based in Brandon, Manitoba.

Buy -

Seller(S) 1

SELLER

Behrman Capital

New York, New York, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1991
PE ASSETS 4.0B USD
Size Large
Type Sector Focused
DESCRIPTION

Behrman Capital is a private equity firm focused on management buyouts, leveraged buildups and recapitalizations of established growth companies. Areas of interest include healthcare, defense, specialty manufacturing, business to business outsourcing, and information technology. Behrman looks to invest in the range from $25 to $125 million of equity capital in companies generating sales of $25 to $250 million. Behrman Capital was formed in 1991. The Firm is based in New York City with an additional office in San Francisco.

DEAL STATS #
Overall 22 of 23
Sector: Life Science M&A 4 of 4
Type: Secondary Buyout M&A Deals 10 of 10
State: Maryland M&A 2 of 2
Country: United States M&A 22 of 23
Year: 2022 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-11-04 Brooks Equipment

Charlotte, North Carolina, United States

Brooks Equipment is a distributor of first response fire protection equipment and related parts. Brooks Equipment operates via an extensive network of 16 distribution centers nationwide, through which it offers more than 200,000 products across every major fire and life safety brand. Brooks Equipment was founded in 1941 and is based in Charlotte, North Carolina.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-08-17 George Industries

Endicott, New York, United States

George Industries is a designer, developer, and manufacturer of mission-critical engineered components for the aerospace, defense, transportation, and industrial sectors. Core manufacturing capabilities include dip brazing, vacuum brazing, CNC machining, fabricating, welding, painting, artwork, photography, silk screening, laser cutting and mechanical assembly. George Industries was founded in 1954 and is based in Endicott, New York.

Buy -
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