Avista Capital Partners Mergers and Acquisitions Summary

Private Equity Profile

In the last 3 years, Avista Capital Partners has acquired 4 companies. It has also invested in 1 other.

Avista Capital Partners’ most common sectors for investment are life science (30%) and medical products (15%). The Firm’s most common investment types include buyout (lbo, mbo, mbi) (35%) and secondary buyout (28%). In total, Avista Capital Partners has invested in 15 US states and 5 different countries. Its largest (disclosed) acquisition occurred in 2008 when it acquired ConvaTec for $4.1B.

In the last 3 years, Avista Capital Partners has exited 4 companies. The Firm’s most common exit type is trade sale (48%). Avista Capital Partners’ largest (disclosed) exit occurred in 2011 when it sold Nycomed Pharma AG for $10.8B.

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M&A Summary

  • M&A Total Activity65
    • M&A Buy Activity40
    • M&A Sell Activity25
  • Total Sectors Invested 16
  • Total Countries Invested 5
  • M&A Buy/Sell Connections 26
  • M&A Advisors 12

Avista Capital Partners

65 East 55th Street,18th Floor,
New York, New York 10022
United States,
(212)593-6900
www.avistacap.com
info@avistacap.com

Avista Capital Partners is a private investment firm formed by a group of professionals with roots from DLJ Merchant Banking Partners. Avista makes controlling and minority investments in US based energy, healthcare, and media companies with revenues greater than $25 million. Typical transactions include leverage buyouts, build-ups, and growth capital financings. Avista Capital was formed in 2005 and is based in New York City with an additional office in Houston, Texas.


Investment Criteria

Sectors of Interest: Automotive, Business Services, Communications, Distribution, Energy Services and Equipment, Engineering, Environmental, Financial Services, Healthcare Services, Life Science, Manufacturing, Marketing, Media, Medical Products, Oil/Gas Exploration, Publishing, Renewable Energy, Utilities

Target Transaction Types: Buyout (LBO, MBO, MBI), Consolidation, Growth Capital, Recapitalization

Geographic Preferences: East US, Midwest US, South US, West US

Transaction Criteria Min Max
Target Revenue 25 -
Target EBITDA - -
Investment Size 50 300
Enterprise Value - -
values in millions of USD

M&A Summary

Buy vs Sell

Year ≤ '15 '16 '17 '18 '19 '20 T
Buy (1.6/yr) # 32 - 3 4 1 - 40
vol $6.9B $6.9B
Sell (1.4/yr) # 18 3 1 2 1 - 25
vol $17.4B $525M $402M $18.3B
  65

Most Recent M&A

Company Date Value Type
GCM Holding Corp. 2019-09-03 - Secondary Buyout
Union, California · www.gogcm.com
Trimb Healthcare AB 2019-06-24 402M SEK Add-on Acquisition
Stockholm, Sweden · www.trimb.se
Organogenesis, Inc. 2018-12-10 - Secondary Buyout
Canton, Massachusetts · www.organogenesis.com
G&W Dermatology 2018-11-06 - Divestiture
, New Jersey
Telular Corp. 2018-11-01 525M USD Add-on Acquisition
Chicago, Illinois · www.telular.com
Osmotica Pharmaceuticals Plc 2018-10-22 - PIPE
Bridgewater, New Jersey · www.osmotica.com
Kramer Laboratories, Inc. 2018-05-02 - Buyout (LBO, MBO, MBI)
Coral Gables, Florida · www.kramerlabs.com
Zest Dental Solutions 2018-02-08 - Secondary Buyout
Carlsbad, California · www.zestdent.com
United BioSource Corp. 2017-11-27 - Divestiture
Chevy Chase, Maryland · www.unitedbiosource.com
OptiNose US, Inc. 2017-10-12 - IPO
Yardley, Pennsylvania · www.optinose.com
View All >>

Portfolio M&A

Company Acquired Add-On/Sale Date #
Acino International AG 2013-10-02 Takeda Pharmaceutical Co.,Ltd. - Primary Care Portfolio 2019-10-15 4
Zurich, Czech Republic · www.acino.swiss Osaka, Japan
Kramer Laboratories, Inc. 2018-05-02 Nizoral 2018-06-25 1
Coral Gables, Florida · www.kramerlabs.com Fort Washington, Pennsylvania · www.nizoral.com
Acino International AG 2013-10-02 Litha Healthcare Group Ltd. 2017-02-28 3
Zurich, Czech Republic · www.acino.swiss Midrand, South Africa · www.lithahealthcare.co.za
Acino International AG 2013-10-02 Acino Holding AG - Transdermal Drug Delivery Systems Business 2016-11-30 1
Zurich, Czech Republic · www.acino.swiss Aesch, Czech Republic
Acino International AG 2013-10-02 Norgine - Middle East & North Africa Operations & Product Right 2016-06-28 2
Zurich, Czech Republic · www.acino.swiss , Netherlands
Acino International AG 2013-10-02 Pharma Start 2015-10-07 1
Zurich, Czech Republic · www.acino.swiss Kyiv, Ukraine · www.phs.ua
Sidewinder Drilling, Inc. 2011-06-13 Union Drilling, Inc. 2012-11-07 1
Houston, Texas · www.sidewinderdrilling.com Fort Worth, Texas · www.uniondrilling.com

M&A by Sector

Sector Current # Value All-time # Value
Life Science 7 (58%) 414M (54%) 12 (30%) 1.0B (15%)
Medical Products - - 6 (15%) 4.6B (67%)
Healthcare Services 1 (8%) - 4 (10%) 635M (9%)
Energy Services and Equipment 1 (8%) - 3 (8%) -
Oil/Gas Exploration 1 (8%) 350M (46%) 2 (5%) 405M (6%)
Information Technology - - 2 (5%) 253M (4%)
Communications - - 2 (5%) -
Apparel/Textiles - - 1 (3%) -
Automotive - - 1 (3%) -
Business Services - - 1 (3%) -
Distribution - - 1 (3%) -
Environmental - - 1 (3%) -
Machinery 1 (8%) - 1 (3%) -
Manufacturing - - 1 (3%) -
Marketing 1 (8%) - 1 (3%) -
Publishing - - 1 (3%) -
Total 12 $764M 40 $6.9B

Acquisitions By Geo

State/Country Current # Value All-time # Value
United States 11 (92%) 350M (46%) 36 (90%) 6.5B (94%)
  Texas 3 (25%) 350M (46%) 8 (20%) 405M (6%)
  New Jersey 2 (17%) - 5 (13%) 4.1B (59%)
  Maryland 2 (17%) - 4 (10%) 210M (3%)
  California 1 (8%) - 4 (10%) -
  Massachusetts 1 (8%) - 2 (5%) 525M (8%)
  Minnesota 1 (8%) - 2 (5%) -
  Pennsylvania - - 2 (5%) -
  New York - - 2 (5%) -
  Florida 1 (8%) - 1 (3%) -
  North Carolina - - 1 (3%) 600M (9%)
  Illinois - - 1 (3%) 253M (4%)
  District of Columbia - - 1 (3%) -
  Connecticut - - 1 (3%) -
  Colorado - - 1 (3%) -
Czech Republic 1 (8%) 414M (54%) 1 (3%) 414M (6%)
Denmark - - 1 (3%) -
Sweden - - 1 (3%) -
Switzerland - - 1 (3%) -
Domestic 11 (92%) 350M (46%) 36 (90%) 6.5B (94%)
Cross-border 1 (8%) 414M (54%) 4 (10%) 414M (6%)
Total 12 $764M 40 $6.9B

Acquisitions by Deal Type

Type Current # Value All-time # Value
Buyout (LBO, MBO, MBI) 3 (25%) 350M (46%) 14 (35%) 350M (5%)
Secondary Buyout 4 (33%) - 11 (28%) 600M (9%)
Divestiture 3 (25%) - 7 (18%) 5.3B (76%)
Growth Capital - - 3 (8%) -
Going Private 1 (8%) 414M (54%) 2 (5%) 667M (10%)
PIPE 1 (8%) - 2 (5%) -
Stake Purchase - - 1 (3%) 55M (1%)
Total 12 $764M 40 $6.9B

Exits by Deal Type

Type Total # Value
Trade Sale - Public Company 12 (48%) 18.3B (100%)
IPO 5 (20%) -
Secondary Sale 3 (12%) -
Bankruptcy 1 (4%) -
Merger 1 (4%) -
Sold to Management 1 (4%) -
Trade Sale 1 (4%) -
Unknown 1 (4%) -
Total 25 $18.3B

Top M&A Advisors

Financial Deals
Credit Suisse Investment Banking
 2
J.P. Morgan Securities LLC
 1
Rothschild Global Advisory
 1
Legal Deals
Kirkland & Ellis LLP
 4
Ropes & Gray LLP
 4
Weil Gotshal & Manges LLP
 4

Deal Values

buy # Total
> $1B 1 $4.1B
$100M to $1B 7 $2.8B
< $100M 1 $55M
TOTAL $6.9B
Largest ConvaTec, Inc.
$4.1B (2008-08-02)
sell # Total
> $1B 4 $15.9B
$100M to $1B 6 $2.4B
TOTAL $18.3B
Largest Nycomed Pharma AG
$10.8B (2011-05-19)

M&A Connections

Deals %
Acquired from
PE Firm(s)
77%
17 77%
Strategic(s)
23%
5 23%
Exited to
PE Firm(s)
24%
4 24%
Strategic(s)
76%
13 76%

Investor Summary

Size

Mega

PE Assets

6.0B USD

Established

2005

Specialist/Generalist

Specialist

Leadership

Thompson Dean

Co-Founder, Co-Managing Partner & Co-CEO

Amanda Heravi

Co-Founder & Principal

David Burgstahler

Co-Managing Partner and President

Sriram Venkataraman

Partner

Robert Girardi

Partner

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