Universal American Financial Corp. (Nasdaq: UHCO) has agreed to acquire pharmacy benefits manager MemberHealth Inc. for approximately $630 million (55% cash, 45% UAF stock). The deal is being backed by a $350 million PIPE investment in UAF by Lee Equity Partners, Perry Capital, Union Square Partners Management (f.k.a. Capital Z) and Welsh, Carson, Anderson & […]
Carex Health Brands, a portfolio company of KCA Partners, has acquired Thera-Med Inc., a Waco, Texas-based maker of hot and cold packs for pain relief therapy. No financial terms were disclosed. www.thera-med.com www.kcapartners.com
American Education Group, a Grand Rapids, Mich.-based prep school acquisition platform, has launched with $35 million in private equity funding from Winona Capital Management and Chicago Growth Partners. www.americanedgroup.com
Ampac Packaging LLC, a Cincinnati-based packaging company backed by Falcon Investment Advisors and Prudential Capital Group, has acquired Mohawk Northern Plastics, an Auburn, Wash.-based manufacturer of flexible packaging for the food, beverage, home and garden and industrial markets. No financial terms were disclosed. www.ampaconline.com www.mohawkplastics.com
United Central Industrial Supply Co., a portfolio company of American Securities Capital Partners, has acquired the Mine Supply division of Persinger Supply Co. No financial terms were disclosed. www.unitedcentral.net www.persingersupply.com
A123 Systems Inc., a Watertown, Mass.-based maker of lithium-ion batteries, has acquired Hymotion Inc., a Concord, Ontario
Southern Theaters LLC, a New Orleans-based movie theater chain backed by Veronis Suhler Stevenson, has acquired Birmingham, Ala.-based AmStar Entertainment LLC for $40.5 million. Bank of Montreal is providing leveraged financing for the acquisition.
Direct Group, a Pennington, N.J.-based provider of high-volume direct marketing services, has acquired Enterprise Marketing Solutions Inc., a Piscataway, N.J.-based database marketing company providing statistical modeling and analytics, data management, hosted database solutions and e-mail programs for the direct marketing industry. No financial terms were disclosed. Direct Group is a portfolio company of SV Investment […]
The Riverside Company has sold Axiom Automotive Technologies to Transtar Industries Inc., a Cleveland-based portfolio company of Linsalata Capital Partners. No financial terms were disclosed. Axiom is a Pittsburgh-based supplier of original equipment and aftermarket transmission replacement parts. www.axiom.com
Select Medical Corp., a Mechanicsburgh, Pa.-based portfolio company of Welsh Carson Anderson & Stowe and Bravo Equity Partners, has completed its acquisition of HealthSouth Corp.'s Outpatient Rehabilitation division for approximately $245 million in cash. The division includes approximately 600 facilities in 35 states that provide rehab for general orthopedic and sports injuries. www.selectmedicalcorp.com www.healthsouth.com