M&A Deal Summary

Water Street Healthcare Partners Acquires Long Grove Pharmaceuticals

On January 1, 2019, private equity firm Water Street Healthcare Partners acquired life science company Long Grove Pharmaceuticals

Acquisition Highlights
  • This is Water Street Healthcare Partners’ 11th transaction in the Life Science sector.
  • This is Water Street Healthcare Partners’ 37th transaction in the United States.
  • This is Water Street Healthcare Partners’ 4th transaction in Illinois.

M&A Deal Summary
Date 2019-01-01
Target Long Grove Pharmaceuticals
Sector Life Science
Buyer(s) Water Street Healthcare Partners
Deal Type Buyout (LBO, MBO, MBI)

Target

Long Grove Pharmaceuticals

Rosemont, Illinois, United States
Long Grove Pharmaceuticals is a specialty pharmaceutical company focused on complex generics including injectables and topical products. Long Grove stands out for its strength in addressing generic development opportunities with complex formulations, challenging manufacturing and supply chain dynamics, and uncommon regulatory approval pathways in niche markets. Long Grove Pharmaceuticals was founded in 2019 and is based in Rosemont, Illinois.

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Buyer(S) 1

Buyer

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 STATS #
Overall 38 of 50
Sector (Life Science) 11 of 12
Type (Buyout (LBO, MBO, MBI)) 7 of 9
State (Illinois) 4 of 5
Country (United States) 37 of 47
Year (2019) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-11-28 Allucent

Cary, North Carolina, United States

Allucent is a provider of solutions that support life science organizations with advancing drug development. Allucent offers a range of services including regulatory strategy and submissions, project management, medical writing, biostatistics, data management, pharmacokinetics, pharmacovigilance, quality assurance, and trial management. Allucent was founded in 1988 and is based in Cary, North Carolina.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-01-28 Temptime

Morris Plains, New Jersey, United States

Temptime Corp. is a developer and manufacturer of temperature monitoring solutions for mission-critical applications in the healthcare industry. Temptime was founded in 1987 and is based in Morris Plains, New Jersey.

Sell -
Mergr

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