M&A Deal Summary

Stone Point Capital Acquires Eliassen

On November 5, 2018, private equity firm Stone Point Capital acquired staffing company Eliassen from Riverside Partners

Acquisition Highlights
  • This is Stone Point Capital’s 1st transaction in the Staffing sector.
  • This is Stone Point Capital’s 78th transaction in the United States.
  • This is Stone Point Capital’s 5th transaction in Massachusetts.

M&A Deal Summary
Date 2018-11-05
Target Eliassen
Sector Staffing
Buyer(s) Stone Point Capital
Sellers(s) Riverside Partners
Deal Type Secondary Buyout
Advisor(s) Houlihan Lokey (Financial)

Target

Eliassen

Reading, Massachusetts, United States
Eliassen is a provider of strategic talent solutions to drive our clients' innovation and business results. Eliassen serves over 400 corporate, financial institution, and government clients providing recruiting and HR support for medium and high-end technology positions. The company operates 21 offices with a leading market presence in New England, North Carolina, and Georgia. Eliassen was founded in 1989 and is based in Reading, Massachusetts.

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Buyer(S) 1

Buyer

Stone Point Capital

Greenwich, Connecticut, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1994
PE ASSETS 25.0B USD
Size Mega
Type Sector Focused
DESCRIPTION

Stone Point Capital is a private equity firm that targets investments in financial services sector. Specific areas of interest include insurance underwriting, outsourcing service providers to financial institutions, specialty lending and other credit opportunities, employee benefits and healthcare, asset management/retirement savings, and banking/depository institutions. Stone Point looks to commit between $5 and $500 million of equity per transaction and will consider control or substantial minority positions. Geographic areas of interest include North America and Europe. Stone Point Capital was formed in 1994 and is based in Greenwich, Connecticut.

DEAL STATS #
Overall 90 of 114
Sector (Staffing) 1 of 1
Type (Secondary Buyout) 17 of 26
State (Massachusetts) 5 of 6
Country (United States) 78 of 101
Year (2018) 9 of 9
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-11-01 Genex

Wayne, Pennsylvania, United States

Genex is the trusted provider of managed care services enabling clients to transform their bottom lines while enhancing the lives of injured and disabled workers. The company serves the top underwriters of workers’ compensation, automobile, disability insurance, third-party administrators, and a significant number of Fortune 500 employers. In addition, Genex is the only company that delivers high-quality clinical services enhanced by intelligent systems and 360-degree data analysis. The company consistently drives superior results related to medical, wage loss, and productivity costs associated with claims in the workers’ compensation, disability, automobile, and health care systems. Genex was formed in 1978 and is based in Wayne, Pennsylvania.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-11-19 New Ocean Capital

Hamilton, Bermuda

New Ocean Capital is an asset manager focused on sourcing investment opportunities in the traditional (re)insurance market, the collateralized reinsurance market, and the reinsurance capital markets. New Ocean Capital is based in Hamilton, Bermuda.

Sell -

Seller(S) 1

SELLER

Riverside Partners

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1989
PE ASSETS 1.0B USD
Size Large
Type Sector Focused
DESCRIPTION

Riverside Partners is a specialist private equity firm focused on investments in healthcare and technology companies located throughout North America. The Firm has a particular interest in companies that are founder or family owned. Target companies are generally profitable with $3 to $15 million of EBITDA. Specific areas of interest within healthcare include suppliers to biopharmaceutical and medical device companies, medical technology and equipment, medical instrumentation, dental products and services, diagnostics and disposables, and specialized healthcare services. Areas of interest within technology include, analytical instrumentation, semiconductor equipment, industrial communications, wireless components, homeland security, and power generation technology. Transaction situations include partial or complete buyouts, recapitalizations, growth equity, divestitures, take privates, and strategic add-ons. Riverside Partners was formed in 1989 and is based in Boston, Massachusetts.

DEAL STATS #
Overall 26 of 33
Sector (Staffing) 1 of 1
Type (Secondary Buyout) 8 of 10
State (Massachusetts) 3 of 4
Country (United States) 26 of 33
Year (2018) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-11-02 BioAgilytix

Durham, North Carolina, United States

BioAgilytix is a bioanalytical testing laboratory focused on large molecule bioanalysis for the pharmaceutical, biotechnology and agriculture industries. BioAgilytix Lab's mission is to provide outsourced analysis of biological samples that support the work of companies seeking regulatory approval of their biopharmaceutical and agricultural products. BioAgilytix was founded in 2008 and is based in Durham, North Carolina.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-01-03 HealthDrive

Framingham, Massachusetts, United States

HealthDrive is a provider of medical and dental services in over 2,000 facilities, serving more than 200,000 enrolled senior living residents across four practices around the nation. HealthDrive was founded in 1989 and is based in Framingham, Massachusetts.

Sell -
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