M&A Deal Summary

LightBay Capital and L Catterton Partners Acquire Alliance Animal Health

On June 1, 2019, private equity firm LightBay Capital and growth capital firm L Catterton Partners acquired consumer services company Alliance Animal Health

Acquisition Highlights
  • This is LightBay Capital’s 3rd and L Catterton Partners’ 11th transaction in the Consumer Services sector.
  • This is LightBay Capital’s 4th and L Catterton Partners’ 99th transaction in the United States.
  • This is LightBay Capital’s 1st and L Catterton Partners’ 6th transaction in Connecticut.

M&A Deal Summary
Date 2019-06-01
Target Alliance Animal Health
Sector Consumer Services
Buyer(s) LightBay Capital
L Catterton Partners
Deal Type Buyout (LBO, MBO, MBI)
Advisor(s) Harris Williams & Co. (Financial)

Target

Alliance Animal Health

Stamford, Connecticut, United States
website
Alliance Animal Health is a multi-site owner, operator, and business partner to veterinarians in the United States. Alliance Animal Health allows veterinarians to continue to practice medicine independently while providing resources and assistance in business operations. Alliance Animal Health was founded in 2016 and is based in Stamford, Connecticut.

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Buyer(S) 2

Buyer

LightBay Capital

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 2016
PE ASSETS 615M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

LightBay Capital is a private equity firm focused on middle-market buyouts and distressed debt opportunities. The Firm will consider investing in the range of $100 to $300 million. LightBay Capital was formed in 2016 and is based in Los Angeles, California.

DEAL STATS #
Overall 4 of 12
Sector (Consumer Services) 3 of 3
Type (Buyout (LBO, MBO, MBI)) 1 of 4
State (Connecticut) 1 of 1
Country (United States) 4 of 11
Year (2019) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-03-13 FASTSIGNS

Carrollton, Texas, United States

FASTSIGNS is a franchisor of signage and visual graphics products and services, serving more than 650,000 businesses. The Company is 100% franchised, with more than 700 locations worldwide. FASTSIGNS locations sell a broad set of graphics-related products, including signs, custom visual communications, interior décor, architectural signage, vehicle graphics, and digital signs, and offer a variety of value-added services, including consulting, surveying, permitting, and installation. FASTSIGNS was founded in 1985 and is based in Carrollton, Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-01-14 Femwell

Miami, Florida, United States

Femwell provides business support solutions to women’s health and primary care providers across ~300 practices. The Company’s service offering is designed to manage and help physicians grow their practices. Femwell also manages Topline MD, which enhances the patient experience through investments in technology, online content, customer engagement tools and care coordination among specialist and ancillary services, on behalf of its clients. Femwell was founded in 1997 and is based in Miami, Florida.

Buy -
Buyer

L Catterton Partners

Greenwich, Connecticut, United States

Investor Investor Investor Investor Investor

website

Category Growth Capital Firm
Founded 1989
PE ASSETS 30.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

L Catterton is a private equity firm that targets investments in consumer-related companies located throughout North America. L Catterton looks for businesses with identifiable brands and operating in 'defensible and extensible' positions within growth industry segments. Specific sectors of interest include branded consumables, food/beverages, consumer services, restaurants, media and marketing, household durables, specialty retail, mass merchant retail, and luxury/apparel. Prospective transactions include management buyouts, recapitalizations, turnarounds, and growth financings. L Catterton was formed in 1990 and is based in Greenwich, Connecticut.

DEAL STATS #
Overall 157 of 214
Sector (Consumer Services) 11 of 13
Type (Buyout (LBO, MBO, MBI)) 40 of 46
State (Connecticut) 6 of 7
Country (United States) 99 of 129
Year (2019) 8 of 14
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-04-04 Tonal Systems

San Francisco, California, United States

Tonal Systems is a provider of sleek, compact, wall-mounted digital trainer and associated content through a monthly subscription model that allows in-home, on demand, full-body strength workouts while tracking user progress and adjusting weights via machine learning in real-time for optimal workout experiences. Tonal Systems is based in San Francisco, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-06-24 Del Frisco s Restaurant Group

Irving, Texas, United States

Del Frisco's Restaurant Group is a collection of 78 restaurants across 17 states and Washington, D.C., including Del Frisco's Double Eagle Steakhouse, Del Frisco's Grille, and Sullivan's Steakhouse. Del Frisco's Double Eagle Steakhouse serves up flawless cuisine that's bold and delicious, an extensive award-winning wine list and a level of service that reminds guests that they're the boss. Del Frisco's Restaurant Group was founded in 1981 and is headquartered in Irving, Texas.

Buy $650M
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