Cortec Group Mergers and Acquisitions Summary

Private Equity Firm Profile

In the last 3 years, Cortec Group has acquired 1 company.

Cortec Group’s most common sectors for investment aremanufacturing (16%) and medical products (16%) . The Firm’s most common investment types include buyout (lbo, mbo, mbi) (44%) and secondary buyout (37%). In total, Cortec Group has invested in 20 US states and 2 different countries. Its largest (disclosed) acquisition occurred in 2009 when it acquired 180 Medical for $321M.

In the last 3 years, Cortec Group has exited 1 company. The Firm’s most common exit type is secondary buyout (64%). Cortec Group’s largest (disclosed) exit occurred in 2008 when it sold The Cortland Companies for $230M.

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M&A Summary

  • M&A Total Activity77
    • M&A Buy Activity44
    • M&A Sell Activity33
  • Total Sectors Invested 16
  • Total Countries Invested 2
  • M&A Buy/Sell Connections 19
  • M&A Advisors 8

Cortec Group

140 East 45th Street, 43rd Floor,
New York, New York 10017
United States
(212) 370-5600
www.cortecgroup.com
info@cortecgroup.com

Cortec Group, Inc. is a private equity firm focused on acquiring mid-sized businesses operating in basic industries. Cortec Group is an experienced and knowledgeable investor in healthcare products and services, B2C and B2B products, value-added distribution (including eCommerce), and specialty services companies with revenues of $40-$300 million and EBITDA of $7 to $35+ million. The Cortec Group was formed in 1984 and is based in New York City.


Investment Criteria

Sectors of Interest: Business Services, Consumer Products, Consumer Services, Distribution, E-Commerce, Healthcare Services, Medical Products

Target Transaction Types: Buyout (LBO, MBO, MBI), Divestiture, Recapitalization, Secondary Buyout

Geographic Preferences: East US, Midwest US, South US, West US, Canada

Transaction Criteria Min Max
Target Revenue 40 300
Target EBITDA 7 35
Investment Size - -
Enterprise Value - -
values in millions of USD

M&A Summary

Buy vs Sell

Year ≤ '20 '21 '22 '23 '24 '25 T
Buy (0.6/yr) # 41 2 1 - - - 44
vol $553M $553M
Sell (0.6/yr) # 30 2 1 - - - 33
vol $702M $702M
  77

Most Recent M&A

Company Date Value Type
Four Seasons Heating and Air Conditioning 2022-12-01 - Recapitalization
Chicago, Illinois · www.fourseasonsheatingcooling.com
Rotating Machinery Services, Inc. 2022-07-01 - Secondary Buyout
Bethlehem, Pennsylvania · www.rotatingmachinery.com
Little Sleepies LLC 2021-11-01 - Recapitalization
Los Angeles, California · www.littlesleepies.com
Window Nation Holding LLC 2021-07-17 - Secondary Buyout
Fulton, Maryland · www.windownation.com
Canadian Hospital Specialties Ltd. 2021-04-22 - Secondary Buyout
Oakville, Ontario · www.chsltd.com
Groundworks LLC 2021-01-17 - Recapitalization
Virginia Beach, Virginia · www.groundworkscompanies.com
Lap of Love Veterinary Hospice 2020-01-24 - Recapitalization
Lutz, Florida · www.lapoflove.com
Enthusiast Auto Group 2019-12-19 - Secondary Buyout
Wadsworth, Ohio · www.ecstuning.com
Community Veterinary Partners LLC 2019-10-01 - Secondary Buyout
Philadelphia, Pennsylvania · www.cvpco.com
Vidaris, Inc. 2019-09-03 - Add-on Acquisition
New York, New York · www.vidaris.com
View All >>

M&A by Sector

Sector Current # Value All-time # Value
Medical Products 1 (8%) - 7 (16%) 321M (58%)
Manufacturing - - 7 (16%) -
Building Materials - - 5 (11%) -
Consumer Products 3 (23%) - 5 (11%) -
Business Services 2 (15%) - 4 (9%) 232M (42%)
Healthcare Services 2 (15%) - 4 (9%) -
Automotive 1 (8%) - 2 (5%) -
Electrical Equipment 1 (8%) - 2 (5%) -
Apparel/Textiles - - 1 (2%) -
Construction 1 (8%) - 1 (2%) -
Consumer Services 1 (8%) - 1 (2%) -
Engineering - - 1 (2%) -
Internet Software and Services - - 1 (2%) -
Technology Hardware - - 1 (2%) -
Transportation 1 (8%) - 1 (2%) -
Utilities - - 1 (2%) -
Total 13 - 44 $553M

Acquisitions By Geo

State/Country Current # Value All-time # Value
United States 13 (100%) - 43 (98%) 553M (100%)
  New York 1 (8%) - 6 (14%) -
  Illinois 1 (8%) - 5 (11%) -
  Florida 3 (23%) - 4 (9%) -
  California 2 (15%) - 3 (7%) -
  Ohio 1 (8%) - 3 (7%) 232M (42%)
  Virginia 2 (15%) - 2 (5%) -
  Maryland 1 (8%) - 2 (5%) -
  Texas - - 2 (5%) -
  Pennsylvania - - 2 (5%) -
  New Jersey - - 2 (5%) -
  Indiana - - 2 (5%) -
  Georgia - - 2 (5%) -
  North Carolina 1 (8%) - 1 (2%) -
  Colorado 1 (8%) - 1 (2%) -
  Oklahoma - - 1 (2%) 321M (58%)
  Wisconsin - - 1 (2%) -
  Nebraska - - 1 (2%) -
  Massachusetts - - 1 (2%) -
  Arizona - - 1 (2%) -
  Alabama - - 1 (2%) -
Canada - - 1 (2%) -
  Ontario - - 1 (2%) -
Domestic 13 (100%) - 43 (98%) 553M (100%)
Cross-border - - 1 (2%) -
Total 13 - 44 $553M

Acquisitions by Deal Type

Type Current # Value All-time # Value
Buyout (LBO, MBO, MBI) 1 (8%) - 19 (43%) 321M (58%)
Secondary Buyout 4 (31%) - 16 (36%) 232M (42%)
Recapitalization 7 (54%) - 8 (18%) -
Growth Capital 1 (8%) - 1 (2%) -
Total 13 - 44 $553M

Exits by Deal Type

Type Total # Value
Secondary Sale 21 (64%) 145M (21%)
Trade Sale - Public Company 5 (15%) 557M (79%)
Trade Sale 4 (12%) -
Bankruptcy 2 (6%) -
Unknown 1 (3%) -
Total 33 $702M

Top M&A Advisors

Financial Deals
Harris Williams & Co.
 3
The Walden Group, Inc.
 2
Cowen Group, Inc.
 1
Legal Deals
Paul Hastings LLP
 9
Jones Day
 5
DLA Piper
 1

Deal Values

buy # Total
$100M to $1B 2 $553M
TOTAL $553M
Largest 180 Medical, Inc.
$321M (2009-09-16)
sell # Total
$100M to $1B 4 $702M
TOTAL $702M
Largest The Cortland Companies, Inc.
$230M (2008-09-17)

M&A Connections

Deals
Acquired from
Investor(s)
39%
17 (39%)
Exited to
Investor(s)
64%
21 (64%)
Strategic(s)
30%
10 (30%)

Investor Summary

Investor Type

Private Equity Firm

Size

Large

PE Assets

4.6B USD

Established

1984

Specialist/Generalist

Generalist

Leadership

R. Scott Schafler

Founding Partner

Jeffrey Shannon

Managing Partner

Jonathan Stein

Managing Partner

Michael Najjar

Managing Partner

Michael Neuberger

CFO & CCO

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