M&A Deal Summary

Five Arrows Acquires Stepping Stones Group

On January 4, 2018, private equity firm Five Arrows acquired healthcare services company Stepping Stones Group from Shore Capital Partners and Beverly Capital

Acquisition Highlights
  • This is Five Arrows’ 3rd transaction in the Healthcare Services sector.
  • This is Five Arrows’ 3rd transaction in the United States.
  • This is Five Arrows’ 1st transaction in Colorado.

M&A Deal Summary
Date 2018-01-04
Target Stepping Stones Group
Sector Healthcare Services
Buyer(s) Five Arrows
Sellers(s) Shore Capital Partners
Beverly Capital
Deal Type Secondary Buyout

Target

Stepping Stones Group

Lafayette, Colorado, United States
website
Stepping Stones Group is a provider of therapeutic behavioral health services to a variety of public school districts and private learning centers. Stepping Stones Group is based in Lafayette, Colorado.

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Buyer(S) 1

Buyer

Five Arrows

Paris, France

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
PE ASSETS 24.0B EUR
Size Mega
Type Sector Agnostic
DESCRIPTION

Five Arrows Principal Investments is a mid-cap investor in Western European companies. Five Arrows can invest across the capital structure (equity, equity-linked, mezzanine, convertible debt) and generally focused on primary or secondary buyouts, growth financings, and balance sheet restructurings. The Group does not have any sector preferences, but typically looks for businesses with high barriers to entry and predictable earnings. Five Arrows can commit €30 to €400 million per investment. Five Arrows is a unit of Rothschild Bank. The Group has offices in Paris, Luxembourg, and London.

DEAL STATS #
Overall 27 of 52
Sector (Healthcare Services) 3 of 6
Type (Secondary Buyout) 15 of 33
State (Colorado) 1 of 1
Country (United States) 3 of 9
Year (2018) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-12-13 Zenith American Solutions

Tampa, Florida, United States

Zenith American Solutions is an administrator to Taft-Hartley multi-employer funds in the U.S. The company's solutions enable the delivery of complex healthcare and retirement benefits to union members through its dynamic technology-enabled platform. Zenith American Solutions was founded in 1944 and is based in Tampa, Florida.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-01-10 Buffalo Grill S.A.

Avrainville, France

Buffalo Grill S.A. operates a chain of theme restaurants specializing in grilled meat. Buffalo Grill was founded in 1980 and is based in Avrainville, France.

Sell -

Seller(S) 2

SELLER

Shore Capital Partners

Chicago, Illinois, United States

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 2009
PE ASSETS 350M USD
Size Middle-Market
Type Sector Focused
DESCRIPTION

Shore Capital Partners is a private equity group focused on opportunities in healthcare, food/beverages, and business services. Specific healthcare areas of interest include infusion therapy, laboratory services, laboratory products/distribution, outpatient rehab therapy, and behavioral health. Shore looks to invest in proven businesses with stable cash-flows and 'significant' growth potential. Prospective companies typically have $5 to $50 million in sales and $1 to $7 million of EBITDA. Shore Capital was formed in 2009 and is based in Chicago, Illinois.

DEAL STATS #
Overall 5 of 10
Sector (Healthcare Services) 4 of 6
Type (Secondary Buyout) 2 of 4
State (Colorado) 1 of 1
Country (United States) 5 of 10
Year (2018) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-11-28 BrightView

Cincinnati, Ohio, United States

BrightView currently has 4 locations in Ohio and provides psychological, social and medical services, including medication assisted treatment, to individuals suffering from addiction.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-03-01 Network Medical Products

Ripon, United Kingdom

Network Medical Products is a designer and manufacturer of sterile single-use products for ENT and Ophthalmic procedures. Network Medical Products was founded in 1997 and is based in Ripon, United Kingdom.

Buy -
SELLER

Beverly Capital

Evanston, Illinois, United States

website

Category Private Equity Firm
Founded 2010
Size Small
Type Sector Focused
DESCRIPTION

Beverly Capital LLC is a private investment firm that provides equity and mezzanine financing to lower middle market companies. Beverly targets profitable companies with $2 to $8 million of EBITDA. Areas of interest includes healthcare and outsourced business services. Prospective transaction situations include recapitalizations, minority growth investments, and strategic acquisitions. Beverly Capital LLC is based in Highland Park, Illinois.

DEAL STATS #
Overall 5 of 10
Sector (Healthcare Services) 2 of 3
Type (Secondary Buyout) 2 of 3
State (Colorado) 1 of 1
Country (United States) 4 of 9
Year (2018) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-02-11 Supplemental Health Care

Cottonwood Heights, Utah, United States

Supplemental Health Care is a provider of healthcare staffing and workforce solutions provider, connecting healthcare organizations with skilled medical clinicians. Supplemental Health Care was founded in 1984 and is based in Cottonwood Heights, Utah.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-12-01 Hunt Valve

Salem, Ohio, United States

Hunt Valve specializes in severe-duty valves and complementary engineered components and system solutions for applications that include primary metals (steel, aluminum), energy (nuclear, hydro, downstream oil & gas), process (chemical), and U. S. Navy nuclear-powered vessels, including all submarines and carriers in operation as well as the Virginia Class, Ford Class, and Columbia Class. Hunt Valve was founded in 1919 and is based in Salem, Ohio.

Sell -
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