Stake Purchase • Medical Products

Stonehenge Partners, Water Street Healthcare Partners and One Equity Partners Invest In Medex

On February 1, 2001, mezzanine finance firm Stonehenge Partners, private equity firm Water Street Healthcare Partners and private equity firm One Equity Partners invested in medical products company Medex

Investment Context
  • This is Stonehenge Partners’ 1st, Water Street Healthcare Partners’ 1st and One Equity Partners’ 1st transaction in the Medical Products sector.
  • This is Stonehenge Partners’ 12th, Water Street Healthcare Partners’ 3rd and One Equity Partners’ 2nd transaction in the United States.
  • This is Stonehenge Partners’ 4th, Water Street Healthcare Partners’ 1st and One Equity Partners’ 1st transaction in Ohio.
Investment Fate
  • Medex was sold to a publicly-traded strategic buyer in 2005 for 925M USD.

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Investment Summary

Date February 1, 2001
Target Medex
Sector Medical Products
Investor(s) Stonehenge Partners
Water Street Healthcare Partners
One Equity Partners
Deal Type Stake Purchase

Target Company

Medex

Hilliard, Ohio, United States
Medex, Inc. is a provider of system solutions for critical care medical products.
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Investors Overview 3

Investor

Stonehenge Partners

Columbus, Ohio, United States

Investor Investor Investor Investor Investor


Category Mezzanine Finance Firm
Founded 1999
PE ASSETS 1.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Stonehenge Partners is a private equity firm that seeks equity and mezzanine investments in lower middle-market companies with at least $10 million in sales. Stonehenge looks to invest ranging from $10 million to $50 million of equity/junior capital to support management buyouts, leveraged acquisitions, recapitalizations, and growth capital financings. Stonehenge prefers businesses operating in manufacturing, distribution, business services and healthcare. Stonehenge avoids investing in real estate, oil and gas, high technology and 'industries that are susceptible to a high degree of cyclicality'. Stonehenge was formed in 1999 and is based in Columbus, Ohio.


Deal Context for Investor #
Overall 12 of 68
Sector: Medical Products 1 of 2
Type: Stake Purchase 1 of 1
State: Ohio 4 of 18
Country: United States 12 of 66
Year: 2001 2 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2001-01-29 Partsearch Technologies

New York, New York, United States

Partsearch Technologies is a comprehensive solution provider for model-specific replacement parts for an extensive and growing list of manufacturers. Partsearch supports retailers and manufacturers in improving service to their customers. Currently Partsearch Technologies is supporting the consumer electronics, computer, appliance and cellular industries. Partsearch markets its services through major retailers, including Best Buy.

Buy $4M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2001-05-01 EI Holdings Group

Baltimore, Maryland, United States

Enviro-Industries dba Pritchard Brown has been helping the environment and technology to co-exist peacefully. We lead the industry and set the standards in quality and innovation for custom designed protective enclosures, fuel tank bases, and sound attenuation.

Buy -
Investor

Water Street Healthcare Partners

Chicago, Illinois, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2005
PE ASSETS 6.0B USD
Size Mega
Type Sector Focused
DESCRIPTION

Water Street is a specialist private equity firm that targets investments in healthcare companies. Specific areas of interest within healthcare include diagnostic devices, medical products, pharmaceutical services, specialty distribution, specialty pharmaceuticals, and specialty services. Water Street targets non-core units of larger corporations and private middle-market companies. Transactions are typically valued between $50 and $500 million. Water Street does not invest in biotechnology, traditional healthcare facilities (hospitals, nursing homes) or early-stage companies without positive cash flow. Water Street was formed in 2005 and is based in Chicago, Illinois.


Deal Context for Investor #
Overall 3 of 50
Sector: Medical Products 1 of 14
Type: Stake Purchase 2 of 6
State: Ohio 1 of 3
Country: United States 3 of 47
Year: 2001 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2000-12-01 Inovision Holdings

Everett, Washington, United States

Lafayette Pharmaceuticals is a developer, manufacturer and distributor of barium sulfate contrast agents, radiation measurement devices, and related quality assurance and patient positioning accessories used in medical diagnostic imaging and radiation therapy.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2002-02-08 LifeStream International

The Woodlands, Texas, United States

LifeStream International, Inc. is a developer, manufacturer and sold a broad range of products used during cardiopulmonary bypass procedures. Its product lines included items such as oxygenators, perfusion circuits and pumps that worked together to keep blood flowing and oxygenated when the heart was stopped during open-heart surgery.

Sell -
Investor

One Equity Partners

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2001
PE ASSETS 10.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

One Equity Partners (OEP) is a private equity firm that targets buyout and growth capital investments in North America, Europe, and Asia. OEP prefers to be the lead investor and typically commits $30 to $150 million per transaction. Sectors of interest include industrial products/services, consumer, retail, chemicals, media, communications, and healthcare. One Equity Partners was formed in 2001 and spun out of JP Morgan Chase in 2015. One Equity Partners is based in New York, New York.


Deal Context for Investor #
Overall 2 of 139
Sector: Medical Products 1 of 6
Type: Stake Purchase 2 of 22
State: Ohio 1 of 3
Country: United States 2 of 82
Year: 2001 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2000-09-01 AbilityOne

Bolingbrook, Illinois, United States

AbilityOne Corp. is a distributor of rehabilitation and assistive device products used to speed recovery, improve mobility and aid independence for injured, aging and physically-challenged adults and children.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2001-04-19 Nth Degree

Duluth, Georgia, United States

Nth Degree is a provider of exhibit management and event services. The company provides specialized installation and dismantle services for trade shows and also serves as an experiential marketing and management agency. Nth Degree was founded in 1979 and is based in Duluth, Georgia.

Buy $150M