M&A Deal Summary

Gryphon Investors Acquires LEARN Behavioral

On March 19, 2019, private equity firm Gryphon Investors acquired education company LEARN Behavioral from LLR Partners

Acquisition Highlights
  • This is Gryphon Investors’ 5th transaction in the Education sector.
  • This is Gryphon Investors’ 53rd transaction in the United States.
  • This is Gryphon Investors’ 3rd transaction in Maryland.

M&A Deal Summary
Date 2019-03-19
Target LEARN Behavioral
Sector Education
Buyer(s) Gryphon Investors
Sellers(s) LLR Partners
Deal Type Secondary Buyout
Advisor(s) Harris Williams & Co. (Financial)
McGuireWoods LLP (Legal)

Target

LEARN Behavioral

Baltimore, Maryland, United States
website
LEARN Behavioral is a network of providers serving children with autism and other special needs. LEARN specializes in behavioral health treatment based on the science of Applied Behavior Analysis and is committed to providing programs and services that are family-focused, community-minded, and delivered with the highest clinical integrity. The LEARN team delivers more than two million hours of services annually and comprises more than 3,000 passionate professionals dedicated to nurturing each child’s personal best.

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Buyer(S) 1

Buyer

Gryphon Investors

San Francisco, California, United States

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 1997
PE ASSETS 8.9B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Gryphon Investors is a private equity firm focused on making $50 to $300 million of equity or equity-linked investments in middle-market companies. Target transaction situations include traditional buyouts, leveraged build-ups, and growth financings. Gryphon will consider both control and shared-control positions. Sectors of interest include business services, consumer, retail, automotive, chemicals, general manufacturing, healthcare, and hotels. Gryphon Investors was formed in 1997 and is based in San Francisco, California.

DEAL STATS #
Overall 53 of 81
Sector (Education) 5 of 5
Type (Secondary Buyout) 15 of 24
State (Maryland) 3 of 4
Country (United States) 53 of 80
Year (2019) 2 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-01-30 DLC

Woodland Hills, California, United States

DLC, Inc. is a finance and accounting consulting and staffing firm specializing in interim and project-based finance and accounting solutions. DLC, Inc. was founded in 1977 and is based in Woodland Hills, California.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-08-19 Mechanix Wear

Valencia, California, United States

Mechanix Wear designs and manufacture premium work gloves and sell its products in more than 20,000 retail store locations across more than 70 countries and through industrial distributors. Mechanix Wear was founded in 1991 and is based in Valencia, California.

Buy -

Seller(S) 1

SELLER

LLR Partners

Philadelphia, Pennsylvania, United States

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 1999
PE ASSETS 3.5B USD
Size Large
Type Sector Agnostic
DESCRIPTION

LLR is a private equity firm that makes growth capital, buyout, and recapitalization investments in mid-sized growth companies with sustainable competitive advantages. LLR looks to invest $15 to $100 million per transaction and will consider both control and minority situations. Target companies generally have at least $10 million in annual sales and are valued up to $250 million. Broad industry sectors of interest include general business services, financial services, healthcare services, education, manufacturing, consumer/retail and information technology/software. LLR will consider investments throughout the US with an emphasis on opportunities located in the Eastern and Mid-Atlantic regions of the US. LLR Partners was formed in 1999 and is based in Philadelphia, Pennsylvania.

DEAL STATS #
Overall 50 of 69
Sector (Education) 4 of 4
Type (Secondary Buyout) 10 of 14
State (Maryland) 4 of 8
Country (United States) 49 of 68
Year (2019) 2 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-03-19 CareATC

Tulsa, Oklahoma, United States

CareATC is a technology-driven employee population health management company. CareATC offers customized solutions for employers, including on-site health clinics, personal health assessments and wellness programs, that help reduce healthcare costs by promoting health, preventing disease and providing a shorter path to care. CareATC was founded in 1998 and is based in Tulsa, Oklahoma.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-04-13 Onapsis

Boston, Massachusetts, United States

Onapsis is a provider of cybersecurity solutions automate the monitoring and protection of ERP business-critical applications. Onapsis cybersecurity solutions automate the monitoring and protection of your SAP and Oracle ERP and business-critical applications, keeping them compliant and safe from insider and outsider threats. Onapsis was founded in 2009 and is based in Boston, Massachusetts.

Buy -
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