Avista Capital Partners Mergers and Acquisitions Summary

Private Equity Firm Profile

In the last 3 years, Avista Capital Partners has acquired 8 companies. It has also invested in 1 other.

Avista Capital Partners’ most common sectors for investment arelife science (26%) and medical products (16%) . The Firm’s most common investment types include secondary buyout (32%) and buyout (lbo, mbo, mbi) (32%). In total, Avista Capital Partners has invested in 17 US states and 8 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 (50%). 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 Activity81
    • M&A Buy Activity51
    • M&A Sell Activity30
  • Total Sectors Invested 19
  • Total Countries Invested 8
  • M&A Buy/Sell Connections 32
  • 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, Secondary Buyout

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

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 ≤ '17 '18 '19 '20 '21 '22 T
Buy (2.6/yr) # 38 4 1 3 2 3 51
vol $6.9B $344M $7.3B
Sell (1.6/yr) # 22 4 1 - 2 1 30
vol $17.4B $525M $402M $170M $18.5B
  81

Most Recent M&A

Company Date Value Type
Taconic Biosciences, Inc. 2022-11-01 - Secondary Buyout
Hudson, New York · www.taconic.com
WellSpring Pharmaceutical Corp. 2022-08-23 - Secondary Buyout
Sarasota, Florida · www.wellspringpharm.com
Inform Diagnostics, Inc. 2022-04-18 170M USD Add-on Acquisition
Irving, Texas · www.informdx.com
Probo Medical LLC 2022-02-15 - Secondary Buyout
Fishers, Indiana · www.probomedical.com
Acino International AG 2021-09-16 - Add-on Acquisition
Zurich, Czech Republic · www.acino.swiss
Arcadia Consumer Healthcare, Inc. 2021-08-09 - Secondary Buyout
Bridgewater, New Jersey · www.arcadiach.com
eMolecules, Inc. 2021-03-25 - Growth Capital
San Diego, California · www.emolecules.com
Cooper Consumer Health SAS 2021-03-12 - Secondary Buyout
Paris, France · www.cooperconsumerhealth.eu
Solmetex LLC 2020-12-17 - Secondary Buyout
Marlborough, Massachusetts · www.solmetex.com
Vision Healthcare N.V. 2020-06-01 344M EUR Divestiture
Kortrijk, Belgium · www.visionhealthcare.eu
View All >>

Portfolio M&A

Company Acquired Add-On/Sale Date #
Probo Medical LLC 2022-02-15 Med Imaging Healthcare Ltd. 2022-08-15 2
Fishers, Indiana · www.probomedical.com Knowsley, United Kingdom · www.mihealthcare.co.uk
XIFIN, Inc. 2020-02-05 OmniSYS LLC 2021-12-14 2
San Diego, California · www.xifin.com Dallas, Texas · www.omnisys.com
Vision Healthcare N.V. 2020-06-01 NaturaMed Pharma AS 2020-12-21 3
Kortrijk, Belgium · www.visionhealthcare.eu Drammen, Netherlands · www.naturamed-pharma.no

M&A by Sector

Sector Current # Value All-time # Value
Life Science 5 (36%) - 13 (25%) 1.0B (14%)
Medical Products 2 (14%) - 8 (16%) 4.6B (64%)
Oil/Gas Exploration 1 (7%) - 5 (10%) 405M (6%)
Healthcare Services 1 (7%) - 4 (8%) 635M (9%)
Energy Services and Equipment - - 3 (6%) -
Consumer Products 1 (7%) 344M (100%) 2 (4%) 344M (5%)
Information Technology - - 2 (4%) 253M (3%)
Business Services 1 (7%) - 2 (4%) -
Communications - - 2 (4%) -
Apparel/Textiles - - 1 (2%) -
Automotive - - 1 (2%) -
Distribution - - 1 (2%) -
Environmental - - 1 (2%) -
Internet Software and Services 1 (7%) - 1 (2%) -
Machinery 1 (7%) - 1 (2%) -
Manufacturing - - 1 (2%) -
Marketing - - 1 (2%) -
Publishing - - 1 (2%) -
Software 1 (7%) - 1 (2%) -
Total 14 $344M 51 $7.3B

Acquisitions By Geo

State/Country Current # Value All-time # Value
United States 12 (86%) - 43 (84%) 6.5B (90%)
  Texas - - 8 (16%) 405M (6%)
  California 3 (21%) - 6 (12%) -
  New Jersey 2 (14%) - 6 (12%) 4.1B (56%)
  Massachusetts 1 (7%) - 3 (6%) 525M (7%)
  Maryland 1 (7%) - 3 (6%) 210M (3%)
  Pennsylvania 1 (7%) - 3 (6%) -
  New York 1 (7%) - 3 (6%) -
  Minnesota - - 2 (4%) -
  Florida 1 (7%) - 1 (2%) -
  Ohio 1 (7%) - 1 (2%) -
  Indiana 1 (7%) - 1 (2%) -
  North Carolina - - 1 (2%) 600M (8%)
  Illinois - - 1 (2%) 253M (3%)
  District of Columbia - - 1 (2%) -
  Connecticut - - 1 (2%) -
  Colorado - - 1 (2%) -
United Kingdom - - 2 (4%) -
Belgium 1 (7%) 344M (100%) 1 (2%) 344M (5%)
France 1 (7%) - 1 (2%) -
Czech Republic - - 1 (2%) 414M (6%)
Denmark - - 1 (2%) -
Sweden - - 1 (2%) -
Switzerland - - 1 (2%) -
Domestic 12 (86%) - 43 (84%) 6.5B (90%)
Cross-border 2 (14%) 344M (100%) 8 (16%) 757M (10%)
Total 14 $344M 51 $7.3B

Acquisitions by Deal Type

Type Current # Value All-time # Value
Secondary Buyout 8 (57%) - 16 (31%) 600M (8%)
Buyout (LBO, MBO, MBI) 1 (7%) - 16 (31%) 350M (5%)
Divestiture 3 (21%) 344M (100%) 8 (16%) 5.6B (77%)
Growth Capital 1 (7%) - 5 (10%) -
Going Private - - 2 (4%) 667M (9%)
Stake Purchase - - 2 (4%) 55M (1%)
PIPE 1 (7%) - 2 (4%) -
Total 14 $344M 51 $7.3B

Exits by Deal Type

Type Total # Value
Trade Sale - Public Company 12 (40%) 18.3B (99%)
IPO 5 (17%) -
Secondary Sale 5 (17%) -
Trade Sale 4 (13%) 170M (1%)
Bankruptcy 1 (3%) -
Merger 1 (3%) -
Sold to Management 1 (3%) -
Unknown 1 (3%) -
Total 30 $18.5B

Top M&A Advisors

Financial Deals
Credit Suisse Investment Banking
 2
UBS Investment Bank
 1
SunTrust Robinson Humphrey, Inc.
 1
Legal Deals
Ropes & Gray LLP
 7
Kirkland & Ellis LLP
 5
Weil Gotshal & Manges LLP
 4

Deal Values

buy # Total
> $1B 1 $4.1B
$100M to $1B 8 $3.1B
< $100M 1 $55M
TOTAL $7.3B
Largest ConvaTec, Inc.
$4.1B (2008-08-02)
sell # Total
> $1B 4 $15.9B
$100M to $1B 7 $2.6B
TOTAL $18.5B
Largest Nycomed Pharma AG
$10.8B (2011-05-19)

M&A Connections

Deals
Acquired from
Investor(s)
31%
16 (31%)
Strategic(s)
12%
6 (12%)
Exited to
Investor(s)
17%
5 (17%)
Strategic(s)
53%
16 (53%)

Investor Summary

Investor Type

Private Equity Firm

Size

Mega

PE Assets

6.0B USD

Established

2005

Specialist/Generalist

Specialist

Leadership

Thompson Dean

Chairman and Co-Head of Avista’s Investment Committee

David Burgstahler

Co-founder & Managing Partner, Co-CEO

Amanda Heravi

Founding Member & Head of Investor Relations, Managing Director

John Cafasso

Managing Director & CFO

Ben Silbert

Managing Director & General Counsel

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