M&A Deal Summary

Thomas H. Lee Partners and Frazier Healthcare Partners Acquire Adare Pharmaceuticals

On September 22, 2020, private equity firm Thomas H. Lee Partners and growth capital firm Frazier Healthcare Partners acquired life science company Adare Pharmaceuticals from TPG

Acquisition Highlights
  • This is Thomas H. Lee Partners’ 4th and Frazier Healthcare Partners’ 15th transaction in the Life Science sector.
  • This is Thomas H. Lee Partners’ 63rd and Frazier Healthcare Partners’ 38th transaction in the United States.
  • This is Thomas H. Lee Partners’ 1st and Frazier Healthcare Partners’ 3rd transaction in New Jersey.

M&A Deal Summary
Date 2020-09-22
Target Adare Pharmaceuticals
Sector Life Science
Buyer(s) Thomas H. Lee Partners
Frazier Healthcare Partners
Sellers(s) TPG
Deal Type Secondary Buyout
Advisor(s) Debevoise & Plimpton (Legal)

Target

Adare Pharmaceuticals

Lawrenceville, New Jersey, United States
website
Adare Pharmaceuticals provides enhanced medicines, creating new possibilities for improved patient health. FAdare Pharmaceuticals has solved complex formulation, manufacturing, and commercialization challenges, resulting in transformational medicines that deliver value to all its stakeholders. Adare Pharmaceuticals has a global presence with R&D, manufacturing, and commercial operations in the Unites States, Europe, and Canada. Adare Pharmaceuticals was founded in 2015 and is based in Lawrenceville, New Jersey.

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Buyer(S) 2

Buyer

Thomas H. Lee Partners

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 1974
PE ASSETS 25.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Thomas H. Lee Partners, LP (THL) is a private equity firm that seeks buyout, expansion, consolidation, distressed, and recapitalization investments across various industries. Sectors of interest include business and information services, consumer products/retail, financial services, healthcare, industrial, and media/communications. THL looks to invest $100 to $400 million in companies valued up to $2.5 billion. Thomas H. Lee Partners, LP was formed in 1974 and is based in Boston, Massachusetts.

DEAL STATS #
Overall 74 of 82
Sector (Life Science) 4 of 4
Type (Secondary Buyout) 26 of 30
State (New Jersey) 1 of 1
Country (United States) 63 of 70
Year (2020) 4 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-09-14 Hexure

Colorado Springs, Colorado, United States

Hexure provides innovative sales and regulatory automation solutions to the insurance and financial services industries. The company’s core product, ForeSight, is an established, industry-leading point-of-sale illustration product for multiple lines of business including life and annuities. The company also offers a fast-growing, feature-rich SaaS e-application product, FireLight, which expedites the application data collection process with an intuitive user interface. Both products serve to automate and improve the sales process and increase the revenue of retirement and insurance products offered by some of the most established financial institutions in the country. Hexure was formed in 1995 and is based in Colorado Springs, Colorado

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-12-24 CSafe Global

Monroe, Ohio, United States

CSafe Global is a provider of cold chain packaging solutions that address the global supply chain needs of the biopharmaceutical industry. CSafe Global’s climate-controlled containers are designed to maintain high-value and temperature-sensitive biopharmaceutical cargo at precise temperatures for extended periods of time and in extreme external conditions. CSafe Global is based in Monroe, Ohio.

Sell -
Buyer

Frazier Healthcare Partners

Investor Investor Investor Investor Investor

website

Category Growth Capital Firm
Founded 1991
PE ASSETS 3.4B USD
Size Large
Type Sector Focused
DESCRIPTION

Frazier Healthcare Partners is a private equity and venture capital firm specializing in Growth buyout investment specifically targets businesses that deal Healthcare, Life Sciences, Pharmaceutical services, medical products, and related sectors. Frazier Healthcare Partners was formed in 1991 and is based in Seattle, Washington with an additional office in Palo Alto, California; Boston, Massachusetts; and Menlo Park, California.

DEAL STATS #
Overall 39 of 45
Sector (Life Science) 15 of 16
Type (Secondary Buyout) 4 of 7
State (New Jersey) 3 of 5
Country (United States) 38 of 44
Year (2020) 2 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-06-16 Vaxcyte

Foster City, California, United States

Vaxcyte is a biopharmaceutical company dedicated to the delivery of best-in-class conjugate vaccines and novel complex antigen-based vaccines to prevent serious infectious diseases. Vaxcyte was incorporated in 2013 and is headquartered in Foster City, California.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-10-26 Accuity Delivery Systems

Mount Laurel, New Jersey, United States

Accuity Delivery Systems is a revenue cycle management business that provides clinical documentation improvement, coding and quality assurance and provider education services to its hospital clients. Accuity Delivery Systems is based in Mount Laurel, New Jersey.

Buy -

Seller(S) 1

SELLER

TPG

Fort Worth, Texas, United States

Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 1992
PE ASSETS 137.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

TPG Capital is a global, mega-sized private investment firm that manages a family of funds focused on private equity, real estate, venture capital, public equity and debt investing. TPG invests in opportunities across a broad range of industries and geographies. TPG generally seeks to invest in established businesses that can benefit from the Firm's operational experience and connections. Industries of interest include consumer, retail, healthcare, industrials, digital media, natural resources, energy, real estate, technology, and software. TPG was formerly known as Texas Pacific Group and was originally established in 1992 by David Bonderman, James Coulter and William Price. The Firm is based in Forth Worth, Texas with additional offices in Europe, Asia, and Australia.

DEAL STATS #
Overall 213 of 245
Sector (Life Science) 29 of 31
Type (Secondary Buyout) 26 of 34
State (New Jersey) 4 of 5
Country (United States) 153 of 182
Year (2020) 11 of 19
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-07-16 FreedomPay

Philadelphia, Pennsylvania, United States

FreedomPay is a provider of cloud-based payments solutions for the entire commerce ecosystem. The omnichannel payments and incentives platform provides fully integrated, processor agnostic technology that helps large and leading enterprises manage their payments infrastructure, security, analytics, and marketing offers. FreedomPay was founded in 2000 and is based in Philadelphia, Pennsylvania.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-10-21 McAfee

Santa Clara, California, United States

McAfee delivers proactive and proven security solutions and services that help secure systems and networks around the world, McAfee protects consumers and businesses of all sizes from the latest malware and emerging online threats. McAfee's solutions are designed to work together, integrating anti-malware, antispyware, and antivirus software with security management features that deliver unsurpassed real-time visibility and analytics, reduce risk, ensure compliance, improve Internet security, and help businesses achieve operational efficiencies. McAfee was formed in 1987 and is based in Santa Clara, California.

Sell -
Mergr

Product

Company

Legal