M&A Deal Summary

Sentinel Capital Partners and Brookside Capital Partners Acquire TTG Imaging Solutions

On December 27, 2021, private equity firm Sentinel Capital Partners and mezzanine finance firm Brookside Capital Partners acquired medical products company TTG Imaging Solutions from Source Capital and Chartwell Investments Entrepreneur & Founder Capital

Acquisition Highlights
  • This is Sentinel Capital Partners’ 3rd and Brookside Capital Partners’ 4th transaction in the Medical Products sector.
  • This is Sentinel Capital Partners’ 78th and Brookside Capital Partners’ 51st transaction in the United States.
  • This is Sentinel Capital Partners’ 3rd and Brookside Capital Partners’ 7th transaction in Pennsylvania.

M&A Deal Summary

Date 2021-12-27
Target TTG Imaging Solutions
Sector Medical Products
Buyer(s) Sentinel Capital Partners
Brookside Capital Partners
Sellers(s) Source Capital
Chartwell Investments Entrepreneur & Founder Capital
Deal Type Secondary Buyout

Target

TTG Imaging Solutions

Pittsburgh, Pennsylvania, United States
TTG Imaging Solutions is a provider of end-to-end comprehensive services including imaging equipment sales (new and refurbished), equipment service and repair, and imaging administration (technician staffing, radiopharmaceutical supply) for nuclear, echo, and vascular cardiac systems. TTG Imaging Solutions is based in Pittsburgh, Pennsylvania.

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Buyer(S) 2

Buyer

Sentinel Capital Partners

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1995
PE ASSETS 11.2B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Sentinel Capital Partners is a private equity firm that targets investments in middle-market companies with strong management and 'attractive growth prospects'. Sentinel looks to invest up to $400 million of equity in companies generating EBITDA of up to $65 million. Sectors of interest include business services/outsourcing, consumer products and services, food and restaurants, franchising, and manufacturing. Prospective transaction situations include management buyouts, recapitalizations, corporate divestitures, take-privates, and growth capital financings. Sentinel Capital Partners was formed in 1995 and is based in New York, New York.


DEAL STATS #
Overall 85 of 96
Sector (Medical Products) 3 of 3
Type (Secondary Buyout) 29 of 36
State (Pennsylvania) 3 of 4
Country (United States) 78 of 89
Year (2021) 6 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-11-18 Empire Auto Parts

Totowa, New Jersey, United States

Empire Auto Parts is a specialty distributor of aftermarket collision parts. The company is an NSF P394 certified auto parts distributor, and it is a member of the Certified Automotive Parts Association (CAPA) and the Automotive Body Parts Association (ABPA). Empire has 16 locations serving 13 Northeast and Mid-Atlantic U.S. states. Empire Auto Parts is based in Totowa, New Jersey.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-01-13 Controlled Products

Dalton, Georgia, United States

Controlled Products is a manufacturer and distributor of premium quality synthetic turf for sports, training, landscape, leisure, and specialty applications. Controlled products are sold to a national network of dealers and installers under Controlled Products’ highly recognizable brand names, SporTurf, GrassTex, and Synthetic Turf International. Controlled also delivers a broad array of turf products to original equipment manufacturers and large regional installation companies under private label arrangements. Controlled Products is based in Dalton, Georgia.

Sell -
Buyer
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 51 of 65
Sector (Medical Products) 4 of 4
Type (Secondary Buyout) 14 of 16
State (Pennsylvania) 7 of 8
Country (United States) 51 of 65
Year (2021) 9 of 9
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-11-03 Brilliance LED

Carefree, Arizona, United States

Brilliance LED manufactures high-quality performance LED lamps, a variety of landscape lighting fixtures, and easy-to-operate smart products and controls for both commercial and residential markets. Brilliance LED was founded in 2008 and is based in Carefree, Arizona.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-01-11 Signal Control Products

Branchburg, New Jersey, United States

Signal Control Products is a value-added distributor and solutions provider of signal control equipment used to manage the intersections and roadways of today while building safer, faster, and more efficient signal control systems for tomorrow’s integrated traffic mobility. Signal Control was founded in 1975 and headquartered in Branchburg, New Jersey.

Buy -

Seller(S) 2

SELLER

Source Capital

Atlanta, Georgia, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2002
Size Small
Type Sector Agnostic
DESCRIPTION

Source Capital is a private equity firm that invests in mature, smaller companies in a variety of sectors. The Firm generally looks to support management-backed leveraged acquisitions, recapitalizations, growth financings, and various turnaround situations. Source Capital's broad industry focus includes business services, consumer, distribution/supply, healthcare, and light manufacturing. The Firm prefers control investments, but will selectively review minority situations. Target companies are typically profitable with at least $2 million in EBITDA. Source Capital will not invest in venture deals, high tech, or real estate. Source Capital was formed in 2002 and is based in Atlanta, Georgia.


DEAL STATS #
Overall 17 of 19
Sector (Medical Products) 1 of 1
Type (Secondary Buyout) 7 of 7
State (Pennsylvania) 2 of 2
Country (United States) 17 of 19
Year (2021) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-11-23 Nexus Cognitive Solutions

Addison, Texas, United States

Nexus Cognitive Solutions is an AI, data analytics, and software-development services firm focused on digital-maturity. Nexus Cognitive Solutions is based in Addison, Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-01-01 Amplifi

Atlanta, Georgia, United States

Amplifi is a provider of data consulting services that address the entire information value chain from strategy, solution definition and design to implementation of information management technologies and solutions. Amplifi is based in Atlanta, Georgia.

Buy -
SELLER

Chartwell Investments Entrepreneur & Founder Capital

New York, New York, United States

Investor Investor


Category Private Equity Firm
Founded 1992
PE ASSETS 700M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Chartwell Investments is a private equity firm that invests in US-based, mid-sized companies with 'strong market positions, sound business models, and meaningful growth prospects'. Areas of interest include consumer products, light manufacturing, distribution, infrastructure, natural resources, energy, building products, and business services. Chartwell seeks to invest $10 to $200 million of equity in transactions that include buyouts, recapitalization, and growth equity financings. The Firm has a special interest in solving family succession issues, intricate tax and public securities problems, as well as creating strategic partnerships. Chartwell will also consider turnaround situations or companies requiring operational improvement. Chartwell Investments was formed in 1992 and is based in New York City.


DEAL STATS #
Overall 8 of 8
Sector (Medical Products) 2 of 2
Type (Secondary Buyout) 4 of 4
State (Pennsylvania) 2 of 2
Country (United States) 8 of 8
Year (2021) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-08-16 RQM+

Monroeville, Pennsylvania, United States

RQM+ is a medical device and diagnostics-focused, regulatory, and quality consulting firm. The company delivers transformative solutions by providing unrivaled collective expertise, fueled by a passion for client success. RQM+’s experts are collaborative, laser-focused on client needs, and committed to delivering high-value solutions that exceed expectations. RQM+ is based in Monroeville, Pennsylvania.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-04-25 Blue Ocean Aesthetic Holdings

New York, New York, United States

Blue Ocean Aesthetic Holdings has a vision to build a value-added medical aesthetics eco-system of synergistic companies to support increased revenue and profitability within the physician and medspa markets. Blue Ocean Aesthetic Holdings was founded in 2022 and is based in New York City.

Buy -