M&A Deal Summary

Advent International Acquires AccentCare

On May 16, 2019, private equity firm Advent International acquired healthcare services company AccentCare from Oak Hill Capital

Acquisition Highlights
  • This is Advent International’s 17th transaction in the Healthcare Services sector.
  • This is Advent International’s 77th transaction in the United States.
  • This is Advent International’s 9th transaction in Texas.

M&A Deal Summary

Date 2019-05-16
Target AccentCare
Sector Healthcare Services
Buyer(s) Advent International
Sellers(s) Oak Hill Capital
Deal Type Secondary Buyout
Advisor(s) Harris Williams & Co.
J.P. Morgan Securities (Financial)
Paul, Weiss, Rifkind, Wharton & Garrison (Legal)

Target

AccentCare

Dallas, Texas, United States
AccentCare is a provider of post-acute healthcare, with partnerships and care models covering the full continuum from personal, non-medical care to skilled nursing, rehabilitation, hospice, and care management. AccentCare was founded in 1999 and is headquartered in Dallas, Texas.

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Buyer(S) 1

Buyer

Advent International

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1984
PE ASSETS 76.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Advent is a global private equity firm that targets investments in North America, Europe, Asia, and Latin America. Advent's emerging market efforts are concentrated in Central Europe and Latin America. Advent seeks transactions valued between $50 million and $5 billion and can commit up to $2 billion of equity capital per investment. Broad areas of interest include business & financial services, retail & consumer, technology, media, & telecoms, healthcare & life sciences, and industrial. Prospective transaction types include buyouts, growth capital financings, take privates, and recapitalizations. Advent was formed in 1984 and is based in Boston, Massachusetts.


DEAL STATS #
Overall 270 of 338
Sector (Healthcare Services) 17 of 18
Type (Secondary Buyout) 44 of 53
State (Texas) 9 of 9
Country (United States) 77 of 101
Year (2019) 5 of 16
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-04-16 Nexi

Milan, Italy

Nexi is a payments technology company that connects banks, merchants, and consumers with the aim of changing the way people and companies pay and collect money every day, thus accelerating the spread of digital payments and the transition to a cashless society, which is essential for the modernization of Italy. Nexi was founded in 1939 and is headquartered in Milan, Italy.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-06-05 Definitive Healthcare

Framingham, Massachusetts, United States

Definitive Healthcare is a provider of data and intelligence on hospitals, physicians, and other healthcare providers. Definitive Healthcare was founded in 2011 and is based in Framingham, Massachusetts.

Buy -

Seller(S) 1

SELLER

Oak Hill Capital

Stamford, Connecticut, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1986
PE ASSETS 9.5B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Oak Hill Capital Partners was originally formed as the private equity investment vehicle for Robert Bass and in 1999, opened up to outside investors and raised its first private equity fund. Oak Hill looks to invest in middle-market companies and focuses its efforts within six industry groups. The six groups include basic industries; business and financial services; consumer, retail, and distribution; healthcare; media and telecom; and technology. Oak Hill targets businesses with defensible business models, strong market positions, and 'best-in-class' management. Oak Hill Capital was formed in 1986 and has offices in Stamford, Connecticut; Menlo Park, California; and New York City.


DEAL STATS #
Overall 47 of 55
Sector (Healthcare Services) 3 of 3
Type (Secondary Buyout) 9 of 11
State (Texas) 5 of 6
Country (United States) 39 of 46
Year (2019) 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-04-08 Wrench Group

Marietta, Georgia, United States

Wrench Group is a provider of home repair, replacement, and maintenance services specializing in heating, ventilation and air conditioning (HVAC), plumbing, water, and electrical services. Wrench Group is based in Marietta, Georgia.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-07-23 VertexOne

Houston, Texas, United States

VertexOne is a provider of customer information system (“CIS”) software and integration services to the mid-market public and investor-owned utility industry. VertexOne was founded in 1996 and is based in Houston, Texas.

Sell -