Candescent Partners Mergers and Acquisitions Summary

Private Equity Profile

Candescent Partners’ most common sectors for investment are healthcare services (50%) and software (34%). The Firm’s most common investment types include buyout (lbo, mbo, mbi) (50%) and growth capital (17%). In total, Candescent Partners has invested in 5 US states.

The Firm’s most common exit type is trade sale (67%).

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M&A Summary

  • M&A Total Activity9
    • M&A Buy Activity6
    • M&A Sell Activity3
  • Total Sectors Invested 3
  • Total Countries Invested 1
  • M&A Buy/Sell Connections 7

Candescent Partners LLC

2 Oliver Street, 10th floor,
Boston, Massachusetts 02109
United States
(617) 262-1480
www.candescentpartners.com
smcgrath@candescentpartners.com

Candescent Partners is an investor in buyouts and recapitalizations of lower middle-market companies. The Firm looks to invest $2 to $30 million in the form of preferred equity, mezzanine, or both to support growth, buyouts, shareholder liquidity needs, acquisitions, or to reduce debt. Target sectors include healthcare technology and services, consumer products/services, business services, and software. Candescent Partners is based in Boston.


Investment Criteria

Sectors of Interest: Business Services, Consumer Products, Consumer Services, Healthcare Services, Software

Target Transaction Types: Buyout (LBO, MBO, MBI), Growth Capital, Recapitalization, Acquisition Financing, Stake Purchase

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

Transaction Criteria Min Max
Target Revenue 10 50
Target EBITDA 2 -
Investment Size 2 30
Enterprise Value 15 75
values in millions of USD

M&A Summary

Buy vs Sell

Year ≤ '15 '16 '17 '18 '19 '20 T
Buy (0.2/yr) # 5 - 1 - - - 6
Sell (0.2/yr) # 2 1 - - - - 3
  9

Most Recent M&A

Company Date Value Type
Southeastern Spine Institute 2017-04-19 - Recapitalization
Mt Pleasant, South Carolina · www.southeasternspine.com
Quadrant Software, Inc. 2016-06-03 - Add-on Acquisition
Mansfield, Massachusetts · www.quadrantsoftware.com
Retirement Horizons, Inc. 2015-06-01 - Growth Capital
The Woodlands, Texas · www.retirement-horizons.com
Dermatology Associates of Tyler 2014-05-30 - Secondary Buyout
Tyler, Texas · www.dermatologytyler.com
Dermatology Associates of Tyler 2013-01-08 - Buyout (LBO, MBO, MBI)
Tyler, Texas · www.dermatologytyler.com
SoftBase Systems, Inc. 2012-08-07 - Add-on Acquisition
Asheville, North Carolina · www.softbase.com
Koch Eye Associates, Inc. (Claris Vision) 2012-01-30 - Secondary Buyout
Warwick, Rhode Island · www.kocheye.com
SoftBase Systems, Inc. 2011-10-12 - Buyout (LBO, MBO, MBI)
Asheville, North Carolina · www.softbase.com
Quadrant Software, Inc. 2010-11-01 - Buyout (LBO, MBO, MBI)
Mansfield, Massachusetts · www.quadrantsoftware.com
View All >>

Portfolio M&A

Company Acquired Add-On/Sale Date #
Koch Eye Associates, Inc. (Claris Vision) 2012-01-30 Southcoast Eye Care, Inc. 2013-10-23 3
Warwick, Rhode Island · www.kocheye.com North Dartmouth, Massachusetts · www.southcoasteyecareinc.com
Koch Eye Associates, Inc. (Claris Vision) 2012-01-30 Eye Health Vision Centers 2013-01-04 2
Warwick, Rhode Island · www.kocheye.com Dartmouth, Massachusetts · www.eyehealthvision.com
Koch Eye Associates, Inc. (Claris Vision) 2012-01-30 Seacoast Eye Associates, Inc. 2013-01-04 1
Warwick, Rhode Island · www.kocheye.com Wakefield, Rhode Island · www.seacoasteye.com

M&A by Sector

Sector Current # Value All-time # Value
Healthcare Services 2 (100%) - 3 (50%) -
Software - - 2 (33%) -
Business Services - - 1 (17%) -
Total 2 - 6 -

Acquisitions By Geo

State/Country Current # Value All-time # Value
United States 2 (100%) - 6 (100%) -
  Texas - - 2 (33%) -
  South Carolina 1 (50%) - 1 (17%) -
  Rhode Island 1 (50%) - 1 (17%) -
  North Carolina - - 1 (17%) -
  Massachusetts - - 1 (17%) -
Total 2 - 6 -

Acquisitions by Deal Type

Type Current # Value All-time # Value
Buyout (LBO, MBO, MBI) - - 3 (50%) -
Growth Capital - - 1 (17%) -
Recapitalization 1 (50%) - 1 (17%) -
Secondary Buyout 1 (50%) - 1 (17%) -
Total 2 - 6 -

Exits by Deal Type

Type Total # Value
Trade Sale 2 (67%) -
Secondary Sale 1 (33%) -
Total 3 -

M&A Connections

Deals %
Acquired from
PE Firm(s)
100%
1 100%
Exited to
PE Firm(s)
33%
1 33%
Strategic(s)
67%
2 67%

Investor Summary

Size

Small

Established

2009

Specialist/Generalist

Generalist

Leadership

Stephen Jenks

Co-Founder & Managing Partner

Alexander McGrath

Co-Founder & Managing Partner

Stephen Sahlman

Partner

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