In 2004, DLJMB acquired Accellent, a leading provider of fully integrated outsourced manufacturing and engineering services to the medical device industry in the cardiology, endoscopy and orthopaedic markets. In 2005, Kohlberg Kravis Roberts & Co. and Bain Capital LLC acquired the company in a transaction valued at $1.27 billion.
Through ACP II Marcellus, Avista formed a joint venture with Carrizo Oil & Gas, Inc. (Nasdaq: CRZO) focused on the acquisition and exploitation of natural gas assets in the Marcellus Shale formation in the Appalachian Basin.
Advanstar is a leading worldwide provider of integrated, B-to-B marketing communications products and services for targeted industry sectors, principally through trade shows, conferences and controlled circulation trade, business and professional magazines. The company's product portfolio consists of 81 events, 58 publications and directories, 125 electronic publications and Web sites, as well as educational and direct marketing products and services. Notable assets include the MAGIC show, held twice annually in Las Vegas, showcasing 3,100 companies, 5,000 brands and 20,000 product lines at each event.
American Ref-Fuel operated five waste-to-energy facilities located in the northeastern United States. The company derived its revenues from disposal and tipping fees for accepting waste and the sale of electricity and steam produced by its five facilities under long-term contracts with municipalities. In June 2005, Danielson Holding Corp., now Covanta Holding Corporation (NYSE/CVA), acquired American Ref-Fuel for $740 million in cash and assumption of debt.
AngioDynamics (Nasdaq: ANGO) is a leading provider of innovative, minimally invasive medical devices for vascular access, surgery, peripheral vascular disease and oncology. In May 2012, AngioDynamics completed its acquisition of Avista's original portfolio company, Navilyst Medical, a leading manufacturer and distributor of single use fluid management and venous access medical devices. Navilyst Medical was formed in February 2008 to acquire the Fluid Management and Venuous Access businesses from Boston Scientific Corporation.
In 1997, DLJMB acquired Arcade Holding Company, a leading provider of specialty printing, sampling and marketing services for the fragrance and cosmetic industry. In 2004, the company was sold to Visant Corporation, another DLJMB portfolio company
At the time of the investment in 1993, Argyle Television Holding owned four network-affiliated television stations located in Dallas/Fort Worth, TX; Austin, TX; St. Louis, MO; and Birmingham, AL. In 1995, DLJMB sold these properties to New World Communications.
Basic is a provider of well-site services to the domestic oil and natural gas industry. The company focuses on services that support the entire lifecycle of a well, including production enhancement, maintenance of existing oil and natural gas wells, well completion and plugging services. Basic provides these services primarily to exploration and production companies throughout the major oil and gas producing regions in Texas, Louisiana, Oklahoma, New Mexico, Arkansas, Kansas and the Rocky Mountain states.
BioReliance is the largest provider of outsourcing services focused on the rapidly growing biologics sector of the pharmaceutical industry.
Provider of industrial scaffolding services.
Brigham is involved in the exploration, development and production of oil and natural gas in the Gulf Coast, Anadarko Basin and Permian Basin of the U.S. The company applies 3-D seismic imaging and other advanced geological interpretation techniques to explore and develop its oil and natural gas fields.
Caledonia was a U.K. based natural gas company focused on the acquisition, operation and exploitation of producing natural gas fields and transportation systems located in the Southern Gas Basin of the North Sea. Originally investing in Consort Group Limited, DLJMB participated in the purchase of Consort's assets by Caledonia through the rollover of its investment. Caledonia was acquired by E.ON AG for $846 million in November 2005.
At the time of the investment in Charles River in 1999, the company was a worldwide leader in commercial production and supply of live research models for scientific and pharmaceutical research and development and a leading supplier of related biomedical products and services in several niche markets. DLJMB exited its position in the company subsequent to the Company's initial public offering in June of 2000.
ConvaTec Group Plc (LON: "CTEC") is a global leader in the development, manufacturing, marketing and distribution of medical devices for the treatment of chronic care conditions, with products serving the advanced wound care, ostomy, incontinence and infusion device markets.
Copano operates natural gas gathering systems, intrastate pipelines and natural gas processing plants in Texas and Oklahoma. The company has expanded aggressively since completing its initial public offering in November 2004.
DataBank is a leading provider of enterprise class services aimed at providing 100 percent uptime and availability of customer data, applications, and equipment. DataBank's managed data center services are built around its world class 2(N) facilities and multi-homed internet access hub. With these building blocks, DataBank can provide availability solutions for any sized customer.
Enduring is focused on the acquisition and exploitation of long-lived natural gas assets in domestic onshore basins. The company was formed in November 2004 by the former senior management team of Westport Resources Corp., a publicly traded Rocky Mountain-based exploration and production company that was sold to Kerr-McGee Corp. (NYSE/KMG) in 2003. Since its inception, Enduring has acquired over 185,000 net acres in the Uinta Basin and in East Texas and has begun an active development program.
Enduring Resources II, LLC is focused on the acquisition and exploitation of long-lived oil and natural gas assets in domestic onshore basins. The company was formed in November 2004 by the former senior management team of Westport Resources Corp., a publicly traded Rocky Mountain-based exploration and production company that was sold to Kerr-McGee Corp. (NYSE/KMG) in 2003.
In 1992, DLJMB invested structured equity in Evergreen Media corporation, which owned and operated radio stations in major metropolitan areas, to fund the company's accretive acquisition program. Evergreen conducted its initial public offering in October of 1993. The company later merged with Chancellor Media in 1996 and changed its name to AMFM, Inc. before being acquired by Clear Channel Communications in 2000.
In 1998, DLJMB participated in the recapitalization of Fisher Scientific. At the time of the investment, Fisher was the world's leading supplier of scientific research products. DLJMB exited the position subsequent to the company's initial public offering during 2001.
In 2000, DLJMB acquired Focus Diagnostics, a scientifically driven infectious disease diagnostics company that has consistently been among the first to develop diagnostics for new infectious disease agents such as West Nile Virus and SARS. The fund exited the investment via a strategic sale in 2006 to Quest Diagnostics, the nation's leading provider of diagnostic testing, information and services and Eurofins Scientific, a global leader in bio-analysis.
Frontier is an independent international provider of deepwater offshore drilling and production services for the oil industry, focused on the operation and management of offshore drilling rigs and floating production vessels.
Frontier owns and operates a dynamically positioned floating production, storage and offloading vessel and three conventional drillships. The company's FPSO is under long-term contract in Brazil, one drillship has a backlog of work in Southeast Asia and the remaining two drillships recently entered into long term contracts with a major oil company and are being refurbished and upgraded.
Leading operator of bingo clubs and casinos in the UK.
Geokinetics is a leading provider of seismic acquisition and data processing services to oil and gas companies onshore in the U.S. and in Canada.
At the time of the investment in Haights Cross Communications in 1999, the company was a leading creator, publisher and marketer of professional and supplemental educational materials. DLJMB exited its preferred investment in the company during January of 2004.
INC Research is a therapeutically focused contract research organization with a high performance reputation for conducting global clinical development programs of the highest integrity. Pharmaceutical and biotechnology companies look to INC Research for a complete range of customized Phase I - Phase IV programs in therapeutic areas of specialty, and in innovative pediatric and women’s health trials.
InvestorPlace Media is the leading provider of subscription-based investment advisory services to the individual investor.
At the time of the acquisition of IVAC in 1994, the Company was a leading manufacturer and marketer in two medical device market segments: (i) infusion therapy pumps and related disposables and (ii) vital signs and measurement instruments. The fund exited the investment via a strategic sale to IMED during 1996. In 1997, the combined company announced a name change to Alaris Medical, Inc.
At the time of the acquisition of Katz in 1994, the company was the only full service media representation firm in the United States, serving all types of broadcast media, with leading market shares in the representation of radio stations, television stations and cable television systems. Katz conducted its initial public offering in April of 1995 after which DLJMB sold the fund's interest in the company.
In 2003, DLJMB acquired Kinetic Concepts, a leading global medical technology company with leadership positions in advanced wound care and therapeutic services. DLJMB exited its position in the company subsequent to the Company's initial public offering in February of 2004.
Lantheus Medical Imaging is a leading supplier of radiopharmaceuticals and contrast agents for nuclear and ultrasound-based cardiovascular diagnostic imaging procedures. Lantheus was founded in 1956 and was most recently known as Bristol-Myers Squibb Medical Imaging.
Laramie is engaged in the exploitation and production of unconventional natural gas reserves in domestic onshore markets. The company was formed in 2004 by Bob Boswell, former Chairman and CEO of Forest Oil Corp. (NYSE/FST), a publicly traded Denver-based exploration and production company, and Jim Schroeder, former CEO and President of a subsidiary of Progress Energy, Inc. (NYSE/PGN). Laramie has acquired over 45,000 net acres in the Piceance Basin and maintains an aggressive development program.
Medicine Bow focused on acquiring and exploiting under-managed natural gas and crude oil assets throughout mature onshore basins in the United States. The company also held a 39% interest in Four Star Oil & Gas, Inc., a joint venture with Chevron Corp. In August 2005, El Paso Corporation (NYSE/EP) acquired Medicine Bow for $834 million.
MedServe provides medical waste removal and destruction and related environmental services to hospitals, health care clinics, doctors' offices and other generators of medical waste.
Merrill is a diversified communication and document service company applying advanced information systems and intranet/Internet technology to provide a broad range of services to financial, legal and corporate clients. Merrill's services integrate traditional composition, imaging and printing services with online document management, distribution and collaborative solutions. This integrated approach helps streamline the preparation and distribution of business-to-business communication materials.
Metro-Goldwyn-Mayer is a premier global entertainment company actively engaged in the development and worldwide production and distribution of entertainment product, including theatrical motion pictures, television programming, home video, interactive media, music and licensed merchandise. The company's library contains approximately 4,000 theatrically released feature film titles, representing the largest collection of post-1948 feature films in the world, and 10,400 television episodes, including the James Bond film franchise.
Michael Petroleum Corporation was engaged in the acquisition and development of natural gas properties in the Lobo Trend of South Texas, one of the largest onshore natural gas producing regions in the U.S. With capital from DLJMB and a partner, Michael emerged from a reorganization in 2000 and quickly grew reserves and production as a result of accelerating its drilling and development program. The company was sold in August 2001 to Calpine Corporation for $367 million.
Fiber optic network and data center services provider.
In 1992, DLJMB acquired Nimbus, which was a leading independent manufacturer of compact discs and CD-ROMs. In 1995, the fund sold the majority of its interest in the company to a consortium led by McCown Deleeuw. In 1998, Nimbus was then acquired by Carlton Communications Plc.
Nycomed is a mid-sized pharmaceutical company focused on the sale of branded prescription and over-the-counter drugs in the Nordic, continental Europe and CIS regions.
In 1998, DLJMB participated in the recapitalization of Oxford Health. Oxford was a leading health maintenance organization in need of a turnaround. In 2000, the company began to redeem the fund's investment as its operations improved.
PCDI is a leader in the growing market for distance education, providing accredited high school programs, postsecondary career diploma programs, and associate and masters' degree programs to over 200,000 new students annually in all 50 states as well as internationally. The company offers the mass market, particularly the value-conscious segment of the 18-45 year-old population, easy access to the benefits of quality, low-cost distance education at a convenient and self-dictated pace.
Pinnacle is engaged in the development and production of coalbed methane gas in Wyoming and Montana. The company was formed in 2003 by DLJMB in partnership with US Energy Corp. (NASDAQ/USEG) and Carrizo Oil & Gas, Inc. (NASDAQ/CRZO). Through multiple strategic acquisitions, Pinnacle has amassed 300,000 net acres in the Powder River Basin since its formation, and is one of the leading participants in the basin.
In 2001, DLJMB participated in the recapitalization of Prometheus Laboratories, a specialty pharmaceutical company committed to developing new ways to help physicians individualize patient care. The company focuses on the treatment, diagnosis and detection of gastrointestinal, autoimmune and inflammatory diseases and disorders.
Royal Offshore is an exploration and production company focused on drilling and development activity in the Gulf of Mexico.
Seabulk was a provider of marine-based energy services including tankers serving US coastwise trade, offshore supply boat vessels supporting offshore drilling and production, and harbor towing. In June 2005, Seabulk completed a merger with SEACOR Holdings, Inc. (NYSE/CKH), a global provider of marine support and transportation services to the energy and chemical industries.
Sidewinder is a land-based drilling contractor headquartered in Houston, Texas. The Company was formed in 2011 and utilizes a technologically advanced fleet of highly mobile, operationally flexible, ultra-efficient land drilling rigs to service exploration and production companies.
Strategic Partners, Inc. is a recognized national leader in the design and manufacturing of medical apparel and footwear and school uniforms. It distributes medical apparel under the Cherokee, Dickies, Baby Phat, Sketchers and Disney brands among others.
High-speed data transport services provider.
The Star Tribune is the leading information provider in the Minneapolis/St. Paul metropolitan area and includes the Star Tribune newspaper, StarTribune.com and other print and digital products and services. The Star Tribune is the largest daily and Sunday newspaper in the Twin Cities area with daily circulation in excess of 360,000 and Sunday circulation of approximately 600,000. The Star Tribune is the 10th largest Sunday paper and 14th largest daily paper in the United States.
Thompson is a leading professional publisher of information on complex laws and regulations via subscription-based handbooks, newsletters, reference services, single-issue publications and the internet. With more than 300 publications and approximately 110,000 subscribers, Thompson serves professionals in the human resource, education, government grants, and banking fields.
Top-Co is a leading designer and manufacturer of specialized casing cementing products used in the drilling and completion of oil, natural gas and geothermal wells.
TXU is engaged in the generation, transmission, distribution and retail supply of electric power and ancillary services, primarily in Texas. The company is the largest competitive energy retailer in the U.S. In April 2004, DLJMB sold its investment back to the company.
Wireless communications provider.
Visant (formerly Jostens) is a leading North American specialty printing, publishing, marketing and school-related affinity products and services enterprise. The company generates a large portion of its net sales from printing publishing and marketing products, which includes yearbooks, educational materials, diplomas, announcements and direct-marketing materials. In addition, the company manufactures and distributes non-print based school-related affinity products such as class rings, caps and gowns, and provides school photography services.
In 2005, DLJMB led the leveraged buyout of Warner Chilcott, a leading specialty pharmaceutical company focused on developing, manufacturing and marketing branded prescription pharmaceutical products. The company focuses on women's healthcare and dermatology and has established strong brand recognition and penetration with leading products such as Loestrin-24, Taclonex and Dovonex.
WRC Media Inc. is a leading publishing and media company which creates and distributes innovative supplementary educational materials for the school, library, and home markets that are designed to help students reach their full learning potential. The company's operating subsidiaries include CompassLearning¨, World Almanac Education Group, Inc., Weekly Reader Corporation, and WRC Consumer and Custom Publishing Group.