Investment Summary

Pilgrim Capital Partners and Brookside Capital Partners Exits Water-Jel Technologies

On May 5, 2020, Safeguard Medical invested in medical products company Water-Jel Technologies from Pilgrim Capital Partners and Brookside Capital Partners

Investment Highlights
  • This is Safeguard Medical’s 1st transaction in the Medical Products sector.
  • This is Safeguard Medical’s 1st transaction in the United States.
  • This is Safeguard Medical’s 1st transaction in New Jersey.

Investment Summary

Date 2020-05-05
Target Water-Jel Technologies
Sector Medical Products
Investor(s) Safeguard Medical
Sellers(s) Pilgrim Capital Partners
Brookside Capital Partners
Deal Type Add-on Acquisition

Target

Water-Jel Technologies

Carlstadt, New Jersey, United States
Water-Jel Technologies LLC is a provider of emergency burn care products to the industrial, military, and consumer markets. In addition to burn care products, Water-Jel offers a portfolio of branded and private label products targeted principally for the industrial first-aid cabinet.

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Investor(S) 1

Investor

Safeguard Medical

Huntersville, North Carolina, United States

Category Company
Founded 2020
Sector Medical Products
DESCRIPTION

Safeguard Medical is a provider of products and services to the growing first responder market. Safeguard consists of Combat Medical Systems, Prometheus Medical and Trauma FX Ltd. Together, they create a powerful offering of innovative, high-quality products, kitting capabilities and training programs dedicated to supporting first responders with saving lives. Safeguard Medical was founded in 2020 and is based in Huntersville, North Carolina.


DEAL STATS #
Overall 1 of 4
Sector: Medical Products M&A 1 of 4
Type: Add-on Acquisition M&A Deals 1 of 3
State: New Jersey M&A 1 of 1
Country: United States M&A 1 of 4
Year: 2020 M&A 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-04-20 H&H Med

Williamsburg, Virginia, United States

H&H Med Corp. has focused on the pressing needs of the military specifically in major trauma situations that have the potential to cause prolonged disability or death. The company developed a full line of military-grade, battle-tested emergency products that have revolutionized how life-threatening injuries are treated. H&H Med Corp. was formed in 1981 and is based in Williamsburg, Virginia.

Buy -

Seller(S) 2

SELLER

Pilgrim Capital Partners

Fairfield, Connecticut, United States

Category Private Equity Firm
Founded 2006
Size Small
Type Sector Agnostic
DESCRIPTION

Pilgrim Capital Partners is a private equity firm that invests in change of ownership and growth equity transactions. Pilgrim looks for established, middle-market companies operating in defensible markets. Prospective companies generally have sales of $10 to $100 million and operating profits of at least $2 million. Pilgrim has a preference for East Coast and Midwest-based opportunities, however the Firm will consider investments nationwide. Pilgrim Capital Partners was formed in 2006 and is based in Fairfield, Connecticut.


DEAL STATS #
Overall 14 of 14
Sector: Medical Products M&A 1 of 1
Type: Add-on Acquisition M&A Deals 4 of 4
State: New Jersey M&A 1 of 1
Country: United States M&A 14 of 14
Year: 2020 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-06-28 Water-Jel Technologies

Carlstadt, New Jersey, United States

Water-Jel Technologies LLC is a provider of emergency burn care products to the industrial, military, and consumer markets. In addition to burn care products, Water-Jel offers a portfolio of branded and private label products targeted principally for the industrial first-aid cabinet.

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 9 of 26
Sector: Medical Products M&A 2 of 2
Type: Add-on Acquisition M&A Deals 2 of 7
State: New Jersey M&A 1 of 2
Country: United States M&A 9 of 26
Year: 2020 M&A 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-03-06 SWAT Group

Lansing, Michigan, United States

SWAT Group installs and services radon mitigation systems in residential and commercial properties. SWAT Group was founded in 1988 and is based in Lansing, Michigan.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-08-14 TenderHeart Health Outcomes

Austin, Texas, United States

TenderHeart Health Outcomes is a provider of care management solutions, in partnership with managed care organizations, for patients with incontinence issues. TenderHeart Health Outcomes was founded in 2005 and is based in Austin, Texas.

Sell -