M&A Deal Summary

Avista Capital Partners Acquires Probo Medical

On February 15, 2022, private equity firm Avista Capital Partners acquired business services company Probo Medical from Varsity Healthcare Partners

Acquisition Highlights
  • This is Avista Capital Partners’ 2nd transaction in the Business Services sector.
  • This is Avista Capital Partners’ 40th transaction in the United States.
  • This is Avista Capital Partners’ 1st transaction in Indiana.

M&A Deal Summary

Date 2022-02-15
Target Probo Medical
Sector Business Services
Buyer(s) Avista Capital Partners
Sellers(s) Varsity Healthcare Partners
Deal Type Secondary Buyout

Target

Probo Medical

Fishers, Indiana, United States
website
Probo Medical is a provider of equipment sales, part sales, equipment rentals, depot repair service, equipment installation and de-installation, and field-based repair services. Probo Medical was founded in 2014 and is based in Fishers, Indiana.

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Buyer(S) 1

Buyer

Avista Capital Partners

New York, New York, United States

website


Category Private Equity Firm
Founded 2005
PE ASSETS 6.0B USD
Size Mega
Type Sector Focused
DESCRIPTION

Avista Capital Partners is a private investment firm formed by a group of professionals with roots from DLJ Merchant Banking Partners. Avista makes controlling and minority investments in US based energy, healthcare, and media companies with revenues greater than $25 million. Typical transactions include leverage buyouts, build-ups, and growth capital financings. Avista Capital was formed in 2005 and is based in New York City with an additional office in Houston, Texas.


DEAL STATS #
Overall 49 of 53
Sector (Business Services) 2 of 2
Type (Secondary Buyout) 14 of 18
State (Indiana) 1 of 1
Country (United States) 40 of 43
Year (2022) 1 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-09-16 Acino

Zurich, Czech Republic

Acino is a pharmaceutical company focused on developing, manufacturing and marketing well-proven and innovative pharmaceuticals in novel drug delivery forms. Acino was founded in 1836 and is based in Zurich, Czech Republic.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-04-18 Inform Diagnostics

Irving, Texas, United States

Inform Diagnostics is a provider of anatomic pathology services primarily in the fields of gastroenterology, dermatology, hematology, breast health, and urology. The company's team of more than 90 distinguished expert subspecialists utilizes state-of-the-art pathology laboratories to serve more than 5,500 patients every day. Inform Diagnostics continuously improves diagnostic accuracy through consensus-based terminology and criteria, rigorous quality assurance, daily consensus conferences, extensive educational and training activities, and close relationships with clinical partners. Inform Diagnostics was formed in 1996 and is based in Irving, Texas.

Sell $170M

Seller(S) 1

DESCRIPTION

Varsity Healthcare Partners is a specialist private equity firm focused on the healthcare sector. Varsity seeks companies that solve fundamental problems for the healthcare industry with a focus on multi-site providers and critical outsourced services to providers and payors. Prospective companies are profitable with $5 to $15 million of EBITDA and are typically founder owned. Varsity Healthcare Partners was formed in 2012 and has offices in Los Angeles, California and Stamford, Connecticut.


DEAL STATS #
Overall 3 of 4
Sector (Business Services) 1 of 1
Type (Secondary Buyout) 2 of 3
State (Indiana) 1 of 1
Country (United States) 3 of 4
Year (2022) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-01-06 Peak Dental Services

Colorado Springs, Colorado, United States

Peak Dental Services is one of the fastest-growing dental services organizations with 35 locations supporting over 65 generalist and specialist dentists across Colorado. Peak is committed to improving the dentist experience through high-quality non-clinical support services while maintaining exceptional patient satisfaction and clinical outcomes. Peak Dental Services was founded in 2008 and is based in Colorado Springs, Colorado.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-05-10 Beghou Consulting

Evanston, Illinois, United States

Beghou Consulting  specializes in helping life sciences companies especially emerging pharma companies establish and manage commercial operations to better market and sell therapies. Beghou Consulting was founded in 1993 and is based in Evanston, Illinois.

Buy -