M&A Deal Summary

TJC and Linden Capital Partners Acquire Young

On November 8, 2017, private equity firms TJC and Linden Capital Partners acquired medical products company Young from Linden Capital Partners, Five Points Capital and Beringea

Acquisition Highlights
  • This is TJC’s 3rd and Linden Capital Partners’ 7th transaction in the Medical Products sector.
  • This is TJC’s 48th and Linden Capital Partners’ 27th transaction in the United States.
  • This is TJC’s 5th and Linden Capital Partners’ 8th transaction in Illinois.

M&A Deal Summary
Date 2017-11-08
Target Young
Sector Medical Products
Buyer(s) TJC
Linden Capital Partners
Sellers(s) Linden Capital Partners
Five Points Capital
Beringea
Deal Type Secondary Buyout
Advisor(s) William Blair (Financial)

Target

Young

Algonquin, Illinois, United States
Young develops, manufactures and markets supplies and equipment used by dentists, dental hygienists, dental assistants, and consumers. The Company's consumables product offering includes disposable and metal prophy angles, prophy cups and brushes, dental micro-applicators, moisture control products, infection control products, dental handpieces (drills) and related components, endodontic systems, orthodontic toothbrushes, flavored examination gloves, children's toothbrushes, and children's toothpastes. Young was founded in 1995 and is based in Algonquin, Illinois.

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Buyer(S) 2

Buyer

TJC

New York, New York, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1982
PE ASSETS 14.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

TJC is a private investment firm that specializes in acquiring North American middle-market businesses operating in basic industries. TJC specifically looks to provide liquidity for shareholders, raise capital for corporate growth and 'create significant equity opportunities for key management'. TJC will consider opportunities valued from $100 million to $2 billion in a wide variety of industries. Sectors of interest include aerospace/defense, automotive, building products, chemicals, consumer products, distribution, energy, financial services, healthcare, industrial products, insurance, metals, packaging, retail, transportation/logistics, and telecom. TJC was formerly known as The Jordan Company. The Firm was formed in 1982 and is based in New York City.

DEAL STATS #
Overall 50 of 93
Sector (Medical Products) 3 of 5
Type (Secondary Buyout) 14 of 34
State (Illinois) 5 of 10
Country (United States) 48 of 89
Year (2017) 5 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-09-20 Vantage Specialty Chemicals

Chicago, Illinois, United States

Vantage Specialty Chemicals is a specialty chemicals company focused on naturally derived ingredients serving a diverse and growing set of global end markets including personal care, consumer products, industrial and food markets. Vantage Specialty Chemicals was founded in 2008 and is based in Chicago, Illinois.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-02-01 CFS Brands

Oklahoma City, Oklahoma, United States

CFS Brands is a manufacturer and marketer of professional-grade solutions for the restaurant, hospitality, healthcare and janitorial segments. Products for these focused markets include an array of foodservice permanent ware supplies, table coverings, cookware, displayware, storage containers, catering and transport equipment and meal delivery systems. CFS Brands was founded in 1995 and is based in Oklahoma City.

Buy $750M
Buyer

Linden Capital Partners

Chicago, Illinois, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2004
PE ASSETS 3.0B USD
Size Large
Type Sector Focused
DESCRIPTION

Linden LLC is a private equity firm that invests in businesses involved in the healthcare and life science sectors. However, the firm also executes any size private equity transaction between $10 million to $2 billion through the firm's alliance with Madison Dearborn Partners. Linden is not a venture capital investor. The firm specializes in investments in non-core businesses owned by large corporations, as well as traditional management buyouts of independent companies. Linden LLC was formed in 2004 and is based in Chicago, Illinois.

DEAL STATS #
Overall 27 of 48
Sector (Medical Products) 7 of 12
Type (Secondary Buyout) 6 of 18
State (Illinois) 8 of 9
Country (United States) 27 of 47
Year (2017) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-11-07 Chesapeake IRB

Columbia, Maryland, United States

Chesapeake Research Review, Inc. is a provider of independent IRB services for pharmaceutical companies, universities, individual researchers, academic medical centers, and community hospitals. Chesapeake Research Review was formed in 1993 and is based in Columbia, Maryland.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-05-30 Evolution Research Group

New Providence, New Jersey, United States

Evolution Research Group is an independent clinical research site business serving pharmaceutical companies and CROs, with a focus in neuroscience and other special populations. Evolution Research Group was founded in 2014 and is based in New Providence, New Jersey.

Buy -

Seller(S) 3

SELLER

Linden Capital Partners

Chicago, Illinois, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2004
PE ASSETS 3.0B USD
Size Large
Type Sector Focused
DESCRIPTION

Linden LLC is a private equity firm that invests in businesses involved in the healthcare and life science sectors. However, the firm also executes any size private equity transaction between $10 million to $2 billion through the firm's alliance with Madison Dearborn Partners. Linden is not a venture capital investor. The firm specializes in investments in non-core businesses owned by large corporations, as well as traditional management buyouts of independent companies. Linden LLC was formed in 2004 and is based in Chicago, Illinois.

DEAL STATS #
Overall 16 of 27
Sector (Medical Products) 6 of 8
Type (Secondary Buyout) 5 of 9
State (Illinois) 6 of 7
Country (United States) 16 of 27
Year (2017) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-11-07 Chesapeake IRB

Columbia, Maryland, United States

Chesapeake Research Review, Inc. is a provider of independent IRB services for pharmaceutical companies, universities, individual researchers, academic medical centers, and community hospitals. Chesapeake Research Review was formed in 1993 and is based in Columbia, Maryland.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-05-30 Evolution Research Group

New Providence, New Jersey, United States

Evolution Research Group is an independent clinical research site business serving pharmaceutical companies and CROs, with a focus in neuroscience and other special populations. Evolution Research Group was founded in 2014 and is based in New Providence, New Jersey.

Buy -
SELLER

Five Points Capital

Winston-Salem, North Carolina, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1997
PE ASSETS 1.3B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Five Points Capital makes both direct private equity and junior capital investments in US-based middle-market companies. Five Points prefers control based investments and will consider opportunities in a variety of industries. For both equity and mezzanine investments, the Firm looks to commit $5 to $25 million of capital in businesses with at least $10 million in sales and $3 million of EBITDA. Five Points Capital was formerly known as BB&T Capital Partners and re-branded in 2015. The Firm was established in 1997 and is based in Winston-Salem, North Carolina.

DEAL STATS #
Overall 30 of 58
Sector (Medical Products) 1 of 2
Type (Secondary Buyout) 17 of 26
State (Illinois) 1 of 3
Country (United States) 30 of 58
Year (2017) 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-09-10 Screen Engine/ASI

Los Angeles, California, United States

Screen Engine/ASI is a research and analytics firm with an emphasis on big data focused on maximizing market potential while assessing risk for clients in the entertainment and media spaces. Screen Engine/ASI was established in 2010 and is based in Los Angeles, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-11-22 Blake & Pendleton

Macon, Georgia, United States

Blake & Pendleton is a value-added distributor of air compressors, compressed air automation systems, pumping equipment, and flow control products in the Southeastern United States. Blake & Pendleton was founded in 1971 and is based in Macon, Georgia.

Buy -
SELLER

Beringea

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1988
PE ASSETS 715M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Beringea LLP is a private equity firm focused on growth-oriented company investments in the Midwest US and the UK. Beringea looks to invest $2 to $10 million of equity or junior capital in profitable companies with 5 million and higher in revenue. Funds are used to support business expansions and growth, ownership transitions, leveraged buyouts, recapitalization, and refinancings. The Firm does not have any sector preferences and generally seeks businesses with proven business models and defensible market positions. Beringea was formed in 1988 and is based in London.

DEAL STATS #
Overall 18 of 42
Sector (Medical Products) 3 of 3
Type (Secondary Buyout) 6 of 9
State (Illinois) 1 of 3
Country (United States) 8 of 17
Year (2017) 4 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-08-07 MatsSoft

Bedford, United Kingdom

MatsSoft Ltd. is an independent software company. It provides a web-based workflow and communications solutions. MatsSoft is headquartered in Bedford, UK and has approximately 60 customers globally across private and public sectors, including Vodafone, Nationwide Building Society, ITV and Adur & Worthing Councils. It was founded in 2008 and employs 56 people.

Sell £11M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-12-21 Honeycomb

London , United Kingdom

Honeycomb is a global advertising delivering platform with faster delivery, easier collaboration, and smarter data. Honeycomb works together with the latest technology and the most brilliant people in the business. Honeycomb was founded in 2014 and is based in London, United Kingdom.

Sell -
Mergr

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