M&A Deal Summary

Zimmer Biomet Holdings Acquires A&E Medical

On December 1, 2020, Zimmer Biomet Holdings acquired medical products company A&E Medical from Vance Street Capital, NB Private Equity Partners and Madison Capital Funding for 250M USD

Acquisition Highlights
  • This is Zimmer Biomet Holdings’ 16th transaction in the Medical Products sector.
  • This is Zimmer Biomet Holdings’ 4th largest (disclosed) transaction.
  • This is Zimmer Biomet Holdings’ 16th transaction in the United States.
  • This is Zimmer Biomet Holdings’ 3rd transaction in New Jersey.

M&A Deal Summary

Date 2020-12-01
Target A&E Medical
Sector Medical Products
Buyer(s) Zimmer Biomet Holdings
Sellers(s) Vance Street Capital
NB Private Equity Partners
Madison Capital Funding
Deal Type Add-on Acquisition
Deal Value 250M USD
Advisor(s) Stephens Investment Banking (Financial)
Paul Hastings LLP (Legal)

Target

A&E Medical

Farmingdale, New Jersey, United States
website
A&E Medical Corp. is a designer and manufacturer of a high strength sternum closure system along with a wide variety of temporary cardiac pacing wires and extension leads, stainless steel sutures, surgical punches, electrosurgical instruments, and neurosurgical scalp clips. A&E Medical was founded in 1968 and is based in Farmingdale, New Jersey.

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Buyer(S) 1

Buyer

Zimmer Biomet Holdings

Warsaw, Indiana, United States

website


Category Company
Founded 1927
Sector Medical Products
Employees20,000
Revenue 7.0B USD (2020)
DESCRIPTION

Zimmer Biomet Holdings is a designer, developer, manufacturer of orthopaedic reconstructive, spinal and trauma devices, dental implants, and related orthopaedic surgical products. Zimmer Biomet Holdings was founded in 1927 and is based in Warsaw, Indiana.


DEAL STATS #
Overall 24 of 24
Sector (Medical Products) 16 of 16
Type (Add-on Acquisition) 21 of 21
State (New Jersey) 3 of 3
Country (United States) 16 of 16
Year (2020) 1 of 1
Size (of disclosed) 4 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-10-27 RespondWell

Grand Rapids, Michigan, United States

RespondWell LLC is a telerehabilitation technology designed to provide personalized, clinician-supervised post-surgical physical therapy in the comfort of a patient's home.

Buy -

Seller(S) 3

SELLER

Vance Street Capital

Los Angeles, California, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 2007
Size Small
Type Sector Focused
DESCRIPTION

Vance Street Capital is a private equity firm focused exclusively on acquiring mid-market, profitable businesses in the aerospace, defense, industrial, and medical products sectors. Vance Street looks for companies valued from $30 to $350 million with sustainable competitive advantages and proven management. Prospective transaction situations include recapitalizations, management buyouts, corporate divestitures, industry consolidations, and growth capital financings. Vance Street Capital was formed in 2007 and is located in Los Angeles, California.


DEAL STATS #
Overall 7 of 9
Sector (Medical Products) 2 of 2
Type (Add-on Acquisition) 4 of 5
State (New Jersey) 1 of 1
Country (United States) 7 of 8
Year (2020) 1 of 1
Size (of disclosed) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-11-10 Wytech Industries

Rahway, New Jersey, United States

Wytech Industries, Inc. is a manufacturer of specialty core wires and related components for the interventional medical markets. Wytech’s customers include the major medical device OEMs and contract manufacturers focused on high-growth therapies in the neurovascular, peripheral vascular, and structural heart-end markets. Wytech Industries was founded in 1975 and headquartered in Rahway, New Jersey.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-01-12 Excel Scientific

Victorville, United States

Excel Scientific, Inc. is a manufacturer of microplate sealing films and foils used by life science research, university, and testing laboratories as well as biotech companies, pharmaceutical companies, and diagnostic providers. Excel Scientific was founded in 1992 and is based in Victorville, California.

Buy -
DESCRIPTION

NB Private Equity Partners is a publicly traded asset manager focused on acquiring direct investments in privately held companies. The Firm principally targets businesses in the US and looks to invest alongside other private equity managers when considering opportunities. NB Private Equity Partners is headquartered in the UK, with an additional office in the US.


DEAL STATS #
Overall 5 of 10
Sector (Medical Products) 1 of 1
Type (Add-on Acquisition) 2 of 5
State (New Jersey) 1 of 1
Country (United States) 1 of 3
Year (2020) 4 of 4
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-02-25 GFL

Vaughan, Ontario, Canada

GFL is a diversified environmental services company providing a comprehensive line of solid waste, infrastructure & soil remediation, and liquid waste management services through its platform of facilities across Canada and in Southeastern Michigan. GFL has a workforce of more than 5,000 employees and provides its broad range of environmental services to more than 60,000 commercial and industrial customers and its solid waste collection services to more than 2.5 million households. GFL was founded in 2007 and is based in Vaughan, Canada.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-04-21 DoubleVerify

New York, New York, United States

DoubleVerify is a provider of online media verification, offering a comprehensive suite of advertising verification monitoring, blocking and compliance solutions. DoubleVerify was incorporated in 2008 and is based in New York, New York.

Sell -
SELLER

Madison Capital Funding

Chicago, Illinois, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 2001
PE ASSETS 8.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Madison Capital Funding is an affiliate of the New York Life Insurance Company. Madison Capital looks to fund leveraged buyouts, leveraged recapitalizations, add–on acquisitions, and various growth investments by investing across the capital structure. Madison Capital targets profitable companies with at least $3.5 million of EBITDA and can invest up to $200 million per transaction. Madison Capital Funding was formed in 2001 and is based in Chicago, Illinois.


DEAL STATS #
Overall 38 of 47
Sector (Medical Products) 4 of 4
Type (Add-on Acquisition) 16 of 19
State (New Jersey) 5 of 5
Country (United States) 38 of 47
Year (2020) 1 of 2
Size (of disclosed) 5 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-11-10 Wytech Industries

Rahway, New Jersey, United States

Wytech Industries, Inc. is a manufacturer of specialty core wires and related components for the interventional medical markets. Wytech’s customers include the major medical device OEMs and contract manufacturers focused on high-growth therapies in the neurovascular, peripheral vascular, and structural heart-end markets. Wytech Industries was founded in 1975 and headquartered in Rahway, New Jersey.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-12-23 Area Wide Protective

North Canton, Ohio, United States

Area Wide Protective is a provider of professional traffic control design and execution services in support of utility infrastructure maintenance and construction activity. Area Wide Protective was founded in 1993 and is based in North Canton, Ohio.

Sell -