APRIL 2008: DEAL WATCH
HemCon acquires a global reach
By Robin Doussard
From tiny shrimp shells mighty companies grow. HemCon Medical
Technologies, maker of the blood-stopping bandage used on
battlefields that was developed with the Oregon Medical Laser
Center and Providence St. Vincent’s Hospital, has made
its first acquisition.
Portland-based HemCon announced in late February that it would
pay almost $41 million in a cash-for-stock agreement for
Alltracel Pharmaceuticals, a publicly traded Irish company that
focuses on research and commercialization of health-care
products. This move will
boost HemCon’s annual revenues in 2008 to about $100
million, and push the number of local jobs from 115 to 130 or
140, according to HemCon president and CEO John W. Morgan.
(Alltracel’s headcount is 55.)
Morgan says Alltracel was a good fit because it will give
HemCon access to retail channels in Europe for the recently
released over-the-counter KytoStat bandage that is made from
the same shrimp-based technology as the battlefield bandage,
along with manufacturing capabilities in India and China, and
access to nanotechnology manufacturing. Alltracel’s oral
care products in turn get access to the U.S.
HemCon was founded in 2001 and has experienced tremendous
growth. “But for us to really break out as a company and
get to a size we wanted to be at, acquisitions needed to be
part of a multi-pronged strategy,” Morgan says.
“This gives us a much bigger revenue and earnings base on
which we can now invest in current products and develop new
products.”
The company’s international business also has boomed and
now has 23 distribution partners in 45 countries.
Morgan says the next strategic push will be the KytoStat
bandage’s expansion into the consumer market. Morgan says
they are working on getting the bandage, available now on
drugstore.com and at some Albertson’s supermarkets, into
other retail outlets. The other project is a product that will
address infected wounds.
As for more acquisitions? “Potentially,” says
Morgan. “We are looking at a number of companies whose
technology might fit nicely into our
portfolio.”
List researched by Mark
Druskoff
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MERGERS AND ACQUISITIONS
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ANNOUNCED
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EXP. CLOSE
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BUYER / PARENT (HQ)
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SELLER (HQ) / PARENT
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PRICE (TERMS)
|
|
Feb. 12
|
Q2 ‘08
|
Sinar Mas Group (Indonesia)
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Fort St. James Sawmill / Pope & Talbot (Portland)
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$6m
|
|
Feb. 12
|
Q2 ‘08
|
Fox Lumber Sales (MT)
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Midway Sawmill / Pope & Talbot (Portland)
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$750k
|
|
Feb. 19
|
Q1 ‘08
|
Shimano American (CA)
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Pearl iZumi division / Nautilus (WA)
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$69.5m (cash+debt)
|
|
Feb. 22
|
Q2 ‘08
|
W. Graeme Roustan (Canada); Kohlberg & Co.
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Bauer Hockey subsidiary / Nike (Beaverton)
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$200m (cash)
|
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Feb. 22
|
Q2 ‘08
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Castlerise Investments / HemCon Medical Tech.
(Portland)
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Alltracel Pharmaceuticals (Ireland)
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$40.8m
|
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Feb. 22
|
Q1 ‘08
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Access Systems Division (TX) / Overhead Door
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CladPanel division (Sweet Home) / Ankmar Door
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ND
|
|
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REAL ESTATE TRANSACTIONS
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ANNOUNCED
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BUYER / PARENT (HQ)
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REAL ESTATE (LOCATION) / SELLER (HQ)
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PRICE
|
|
Jan. 31
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Daniel and Hooja Kim (Portland)
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Pennington Building (Portland) / 1314 NW Glisan
Street LLC
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$3.2m
|
|
Feb. 6
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undisclosed REIT (CA)
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Pointe West Apts. (Milwaukie) / Pointe West Apts. LLC
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$7.6m
|
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Feb. 12
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Real Estate Recovery Associates
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Forest and Garden Apartments (Portland) / family
trust (Portland)
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$4.75m
|
|
Feb. 12
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Harsch Investment Properties (Portland)
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Oceanside Business Center (CA)
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$9.7m
|
|
Feb. 20
|
Business Center
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Cedars West Apts. (Beaverton) / Los Arcos Associates;
Dale H. Denson; Ross E. Crosby
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$4.3m
|
|
Feb. 20
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Kendall Floral Supply
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7.56-acre parcel (Canby) / Estate of Ray L Burden
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$1.65m
|
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Feb. 20
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Johanson Transportation Service (CA)
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office bldg. (Tigard) / Westec America
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$1.4m
|
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Feb. 20
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Urban Renaissance Group (WA); Great Point Investors
(MA)
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Morgan Building (Portland) / LA County Employees
Retirement System (CA)
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$27.5m
|
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Feb. 29
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Donahue Schriber (CA)
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Keizer Station (Keizer) / Chuck Sides (Salem)
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ND
|
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Feb. 29
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Imagine Hotel Group; Longview Partners
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Shilo Inn Hotel (WA) / Shilo Inn Vancouver (WA)
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$4.8m
|
|
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CAPITAL RAISING
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ANNOUNCED
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COMPANY (HQ) / LEADERSHIP
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INVESTOR (HQ)
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PRICE (TERMS)
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Feb. 3
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Tyfone (Portland) / Tom Spitzer, CEO
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Ojas Venture Partners (India)
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ND
|
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Feb. 5
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Pacific Crest Securities (Portland) / Scott E.
Sandbo, chairman & CEO
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CIVC Partners (IL); Caltius Partners (CA)
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$30m (equity)
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Feb. 5
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GreenWood Resouces (Portland) /Jeff Nuss, president
& CEO
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Phaunos Timber Fund Limited (UK)
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$200m (equity)
|
|
Feb. 21
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Portland Habilitation Center Northwest (Portland) /
John Murphy, president
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U.S. Bancorp’s Community Development (MN)
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$6.5m (debt)
|
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Feb. 21
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OHSU Cancer Institute (Portland) / Dr. Brian Druker,
director
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Lori and Jen-Hsun Huang family (CA)
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$5m (donation)
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Feb. 22
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Oregon State University (Corvallis) / Edward Ray,
president
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Giustina family (Eugene)
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$4m (donation)
|
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Feb. 27
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Pearl Buck Center (Eugene) / Ron Crasilneck,
president
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state bond buyers
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$3m (conduit rev. bonds)
|
|
Feb. 28
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Swanson Group Manufacturing (Glendale) / Steve
Swanson, president
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state bond buyers
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$10m (conduit rev. bonds)
|
|
Feb. 28
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Axial Vector Engine Corporation (Portland) / Ahmed
Khalifa, chairman
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Dubai Consortium (United Arab Emirates)
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$45m (debt)
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