M&A Deal Summary

Vestar Capital Partners Acquires Civitas Solutions

On March 22, 2006, private equity firm Vestar Capital Partners acquired healthcare services company Civitas Solutions from Madison Dearborn Partners and WindRose Health Investors

Acquisition Highlights
  • This is Vestar Capital Partners’ 3rd transaction in the Healthcare Services sector.
  • This is Vestar Capital Partners’ 42nd transaction in the United States.
Investment Fate
  • Civitas Solutions went public in 2014.
  • Civitas Solutions was sold to a financial buyer in 2018 for 1.4B USD.

M&A Deal Summary

Date 2006-03-22
Target Civitas Solutions
Sector Healthcare Services
Buyer(s) Vestar Capital Partners
Sellers(s) Madison Dearborn Partners
WindRose Health Investors
Deal Type Secondary Buyout

Target

Civitas Solutions

Boston, United States
Civitas Solutions is a provider of home- and community-based health and human services to must-serve individuals with intellectual, developmental, physical or behavioral disabilities and other special needs. Since our founding in 1980, we have evolved from a single residential program to a diversified national network offering an array of quality services in 36 states. Civitas Solutions was established in 1980 and is headquartered in Boston, Massachusetts.

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Buyer(S) 1

Buyer

Vestar Capital Partners

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1988
PE ASSETS 11.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Vestar Capital Partners is a private equity firm that targets management buyouts and growth capital investments across North America and Europe in the consumer, business services, and healthcare sectors. The Firm looks to invest $50 to $150 million in transactions valued up to $1 billion. Specific areas of interest include food, apparel, household goods, retail, consumer services, industrial services, information services, manufacturing, distribution, transportation, financial services, media/communications, digital health media, and medical technology. Vestar Capital Partners was formed in 1988 and is based in New York City.


DEAL STATS #
Overall 52 of 86
Sector (Healthcare Services) 3 of 6
Type (Secondary Buyout) 3 of 14
Country (United States) 42 of 70
Year (2006) 1 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2005-12-14 Validus Re

Pembroke, Bermuda

Validus Re is a provider of reinsurance and insurance, conducting its operations worldwide through two wholly-owned subsidiaries, Validus Reinsurance, Ltd. and Talbot Holdings Ltd. The company is a Bermuda-based reinsurer focused on short-tail lines of reinsurance. Talbot is the Bermuda parent of the specialty insurance group primarily operating within the Lloyd's insurance market through Syndicate 1183. Validus Re was founded in 2005 and is based in Pembroke.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2006-04-03 Seves Group

Tour Egée, Italy

Seves Group manufactures glass and composite insulators for high and medium power transmission and distribution systems, as well as glass blocks for architectural and interior design applications. Seves Group is based in Firenze, Italy.

Buy €375M

Seller(S) 2

SELLER

Madison Dearborn Partners

Chicago, Illinois, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1992
PE ASSETS 28.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Madison Dearborn Partners (MDP) is a large private equity firm that targets buyouts of private or publicly held companies, divestitures of larger companies, recapitalizations of family-owned or closely-held companies, acquisition-oriented financings, and financings to fund internal growth. MDP's target investment size is $100 to $600 million in buyout oriented transactions and $100 to $400 million in growth capital commitments. Areas of interest include basic industries (natural resources, chemicals, energy and power, automotive, building products, food, metals and mining, refining, paper, packaging and forest products, and general manufacturing), as well as communications, consumer products/services, financial services, and healthcare. Madison Dearborn Partners was formed in 1992 and is based in Chicago, Illinois.


DEAL STATS #
Overall 21 of 74
Sector (Healthcare Services) 1 of 2
Type (Secondary Buyout) 3 of 14
Country (United States) 20 of 66
Year (2006) 2 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2006-02-10 Magellan

Tulsa, Oklahoma, United States

Magellan is a partnership that primarily transports, stores, and distributes refined petroleum products and crude oil. It owns a refined petroleum products pipeline system with access to nearly 50% of the nation's refining capacity and can store more than 100 million barrels of petroleum products such as gasoline, diesel fuel, and crude oil. Magellan was founded in 2000 and is based in Tulsa, Oklahoma.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2006-06-21 Sirona Dental Systems

Long Island City, New York, United States

Sirona Dental Systems, Inc. is a manufacturer of dental equipment, including treatment units, instruments, dental imaging systems, and dental CAD/CAM systems, including the company's CEREC 3 chair side system for same-day dental restorations.

Sell -
SELLER

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 3 of 26
Sector (Healthcare Services) 3 of 15
Type (Secondary Buyout) 1 of 7
Country (United States) 3 of 26
Year (2006) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2006-02-16 Loving Care Agency

Hasbrouck Heights, New Jersey, United States

Loving Care Agency, Inc. is a providers of pediatric skilled nursing services in the United States with locations in New Jersey, Pennsylvania, Indiana and Delaware as well as the largest provider of home health aide services. Loving Care Agency was formed in 1993 and is based in Hasbrouck Heights, New Jersey.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2006-04-10 Senior Home Care

Clearwater, Florida, United States

Senior Home Care, Inc. is a home health agency offering skilled nursing, physical therapy, occupational therapy, home health aides and medical social services as part of our home health services. Senior Home Care was formed in 1994 and is based in Clearwater, Florida.

Buy -