Another Deal Done!
TMG’s Jay Elfman closes the sale of Isosciences LLC, King of Prussia, PA to Addison Capital Partners of West Palm Beach, FL
On November 30, 2011, TMG Managing Director Jay Elfman closed the sale of Isosciences LLC after locating the Private Equity Firm of Addison Capital Partners. After speaking with a representative of one of Isosciences LLC closest customers who had originally expressed interest in acquiring his client, he was given a few names of other companies that may have acquisition interest. Proactively focused, Elfman called upon the candidates and secured a meeting between Addison Capital Partners and Isosciences LLC. It was clear there were several synergistic opportunities which would arise from an acquisition, and after a negotiation process of modest length, Isosciences LLC was formally acquired at the end of November 2011.
Addison Capital’s other holding companies now have access to Isosciences LLC advanced Mass Spec labs and custom Isotope synthesis for use in its Polymer Validation process prior to launching new chemical products.
Another Deal Done!
TMG’s Jay Elfman closes the sale of PLD Associates dba CareMore In-Home Services to Freedom Holdco, Inc.
On May 15, 2011, TMG Managing Director Jay Elfman closed the sale of PLD Associates dba CareMore In-Home Services to Freedom Holdco, Inc.
Congratulations Jay and thank you for sharing specific details of this exciting deal!
Founded in 1989, CareMore In-Home Services offers the elderly companion services such as meal preparations, light housekeeping, and other non-medical assistance; and certified home health aide services, which besides those offered in the companion services, include bathing, dressing, and bedside care among others. It was founded by Patricia Dengler. The idea to create CareMore came about while Ms. Dengler was caring for and assisting her aging parents. She saw a need for in-home care services to ensure that the elderly and infirm would not have to wind their way through a maze to get the care and assistance they need. CareMore is based in Gibbsboro, New Jersey. It serves the people of Camden, Burlington and Gloucester Counties.
The buyer, Freedom Eldercare, is New Jersey’s largest full service, licensed private pay home health care company managed by professionals who average over twenty years of home health care and geriatric experience. Their integrated elder care services include licensed home health care, live-in specialists, geriatric care management, and senior residential options among others. Freedom Eldercare is backed by Webster Capital, a Boston-area private equity firm (with $200 Million in capital). The buyer is currently in roll-up mode, looking to acquire additional companies in the health care industry.