M&A Deal Summary

WindRose Health Investors Acquires StateServ

On November 22, 2021, private equity firm WindRose Health Investors acquired medical products company StateServ from Blue Wolf Capital Partners

Acquisition Highlights
  • This is WindRose Health Investors’ 2nd transaction in the Medical Products sector.
  • This is WindRose Health Investors’ 34th transaction in the United States.
  • This is WindRose Health Investors’ 1st transaction in Arizona.

M&A Deal Summary
Date 2021-11-22
Target StateServ
Sector Medical Products
Buyer(s) WindRose Health Investors
Sellers(s) Blue Wolf Capital Partners
Deal Type Recapitalization
Advisor(s) Triple Tree LLC (Financial)
GreenbergTraurig (Legal)

Target

StateServ

Mesa, Arizona, United States
StateServ is a provider of durable medical equipment (DME) benefit management solutions to the post-acute care market. The company's technology-enabled platform provides DME cost containment solutions to hospices and other post-acute providers, delivering high-quality patient care, tangible cost savings, and operational efficiencies. its mission is to use technology and optimized processes to help its customers provide the best possible care for patients while giving them the tools they need to drive efficiency. StateServ was formed in 2004 and is based in Mesa, Arizona.

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Buyer(S) 1

Buyer

WindRose Health Investors

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2000
PE ASSETS 2.5B USD
Size Large
Type Sector Focused
DESCRIPTION

MTS Health Investors LLC is a specialist private investment firm focused on opportunities in the services sectors of the healthcare industry. Specific areas of interest include managed care/health insurance, healthcare providers, distributors of medical/products and providers of outsourced services. MTS also invests in low-technology medical product manufacturers. MTS makes equity investments in US based companies valued between $25 and $300 million. Prospective transaction types include buyouts, divestitures, recapitalizations, take-privates, acquisition financings, and growth financings. MTS Health Investors was formed in 2000 and is based in New York City.

DEAL STATS #
Overall 34 of 38
Sector (Medical Products) 2 of 2
Type (Recapitalization) 15 of 17
State (Arizona) 1 of 1
Country (United States) 34 of 38
Year (2021) 4 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-11-01 Workplace Options

Raleigh, North Carolina, United States

Workplace Options is an independent wellbeing provider that provides information, resources, referrals, and consultation on a variety of issues ranging from dependent care and stress management to clinical services and wellness programs. Workplace Options was founded in 1982 and is based in Raleigh, North Carolina.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-01-05 Altruix

Annapolis, Maryland, United States

Altruix is a closed-door specialized pharmacy that primarily serves individuals diagnosed with severe and persistent mental illnesses in the Mid-Atlantic region. The Company serves this population through high-touch distribution relationships with community-based behavioral health agencies and long-term care facilities, enabling improved medication adherence and care management for complex and costly patient populations. Altruix is based in Annapolis, Maryland.

Buy -

Seller(S) 1

SELLER

Blue Wolf Capital Partners

New York, New York, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2005
PE ASSETS 2.5B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Blue Wolf Capital Partners is a private equity investment firm that targets control investments in middle-market North American companies. Blue Wolf looks to commit at least $25 million of equity capital in businesses with minimum revenues of $50 million. Blue Wolf is a generalist firm with broad interest in service and applied engineering companies, capital equipment manufacturers, general manufacturing, financial services, paper products, and broadcast media. Blue Wolf will also consider distressed situation investments. The Firm does not invest in start-ups. Blue Wolf Capital Partners was formed in 2005 and is located in New York, New York.

DEAL STATS #
Overall 16 of 17
Sector (Medical Products) 2 of 2
Type (Recapitalization) 1 of 1
State (Arizona) 1 of 1
Country (United States) 14 of 15
Year (2021) 4 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-10-22 Civco Radiotherapy

Orange City, Iowa, United States

Civco Radiotherapy is focused on developing, manufacturing, and providing high-quality, innovative, patient-centric solutions in radiotherapy. These solutions include advanced patient immobilization and positioning hardware and consumables, fiducial markers, couchtops and overlays, software, patient care products, and advanced 6DOF robotic patient positioning. Civco Radiotherapy was formed in 1982 and is based in Orange City, Iowa.

Buy $120M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-07-05 Hallcon

Chicago, Illinois, United States

Hallcon is a provider of mission-critical transportation services and infrastructure for a broad range of customers including railroads, universities, airports, hospitals and healthcare systems, public transit, technology, industrial companies, and other large employers seeking custom transportation solutions. Hallcon was founded in 1946 and is based in Chicago, Illinois.

Buy -
Mergr

Product

Company

Legal