M&A Deal Summary

LLM Capital Partners, DFW Capital Partners, Health Enterprise Partners, Ridgemont Equity Partners and Vestar Capital Partners Acquires Sheridan Healthcare

On May 1, 1999, growth capital firm LLM Capital Partners LLC, private equity firm DFW Capital Partners, private equity firm Health Enterprise Partners LP, private equity firm Ridgemont Equity Partners and private equity firm Vestar Capital Partners acquired healthcare services company Sheridan Healthcare, Inc. from Ridgemont Equity Partners and TA Associates for 155M USD

Acquisition Highlights
  • This is LLM Capital Partners’ 1st, DFW Capital Partners’ 2nd, Health Enterprise Partners’ 1st, Ridgemont Equity Partners’ 3rd and Vestar Capital Partners’ 1st transaction in the Healthcare Services sector.
  • This is LLM Capital Partners’ 1st, DFW Capital Partners’ 1st, Health Enterprise Partners’ 2nd, Ridgemont Equity Partners’ 15th and Vestar Capital Partners’ 15th largest (disclosed) transaction.
  • This is LLM Capital Partners’ 4th, DFW Capital Partners’ 3rd, Health Enterprise Partners’ 1st, Ridgemont Equity Partners’ 23rd and Vestar Capital Partners’ 27th transaction in the United States.
  • This is LLM Capital Partners’ 1st, DFW Capital Partners’ 2nd, Health Enterprise Partners’ 1st, Ridgemont Equity Partners’ 4th and Vestar Capital Partners’ 2nd transaction in Florida.
Investment Fate
  • Sheridan Healthcare was sold to a financial buyer in 2004.
  • Sheridan Healthcare was sold to a financial buyer in 2007.
  • Sheridan Healthcare was sold to a publicly-traded strategic buyer in 2014 for 2.4B USD.

M&A Deal Summary

Date 1999-05-01
Target Sheridan Healthcare, Inc.
Sector Healthcare Services
Buyer(s) LLM Capital Partners LLC
DFW Capital Partners
Health Enterprise Partners LP
Ridgemont Equity Partners
Vestar Capital Partners
Sellers(s) Ridgemont Equity Partners
TA Associates
Deal Type Going Private
Deal Value 155M USD

Target

Sheridan Healthcare, Inc.

Sunrise, Florida, United States
website
Sheridan Healthcare, Inc. is a multi-specialty physician practice management company that provides outsourced physician staffing services to hospitals and ambulatory surgery centers.

Search 161,083 Deals Now

SEARCH BY

  • Buyer Type (PE or Strategic)
  • Deal Size ($10M to $10B+)
  • Sector (60 Sectors)
  • Deal Type
  • Geography
  • & More

Try For Free 7-Day Free Trial

Buyer(S) 5

Buyer

LLM Capital Partners LLC

Boston, Massachusetts, United States

website


Category Growth Capital Firm
Founded 1991
SizeSmall
Type Sector Agnostic
DESCRIPTION

LLM Capital Partners LLC is a private equity firm that makes growth capital investments in mid-sized companies. The Firm's investment strategy is to provide $10 to $30 million of non-control growth funding to businesses with enterprise values between $15 and $250 million. Broad sectors of interest include healthcare services, business services and niche manufacturing. LLM Capital was formed in 1991 and has offices in Boston, Massachusetts and San Francisco, California.


DEAL STATS #
Overall 4 of 12
Sector (Healthcare Services) 1 of 2
Type (Going Private) 1 of 1
State (Florida) 1 of 3
Country (United States) 4 of 12
Year (1999) 3 of 5
Size (of disclosed) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
1999-01-01 24 Hour Fitness

San Ramon, California, United States

24 Hour Fitness is a health club provider, involved in helping members change their lives and reach their individual fitness goals. 24 Hour Fitness offers fitness solutions for everyone including personal training services, group exercise classes and strength, cardio and functional training equipment.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
1999-09-28 Spectrum Clubs, Inc.

El Segundo, California, United States

Spectrum Clubs, Inc. operates 23 upscale athletic clubs with 12 locations in the Los Angeles, CA market and 11 locations in San Antonio, TX.

Buy $49M
Buyer

DFW Capital Partners

Teaneck, New Jersey, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1983
PE ASSETS 600M USD
SizeMiddle-Market
Type Sector Agnostic
DESCRIPTION

DFW Capital Partners, Inc. is a private equity firm that invests in high-growth middle-market service companies generating revenues of $20-$150 million with an EBITDA of $3-$15 million. Specific service areas of interest include business services, industrial services, and healthcare services. DFW looks to invest $5 to $20 million per transaction. Prospective transactions include growth capital financing, acquisition financing, management buyouts, and recapitalization. DFW will not invest in start-ups, real estate, or pure R&D companies. DFW Capital Partner, Inc. was formed in 1983 and has offices in Teaneck and Chevy Chase.


DEAL STATS #
Overall 3 of 30
Sector (Healthcare Services) 2 of 5
Type (Going Private) 1 of 1
State (Florida) 2 of 2
Country (United States) 3 of 30
Year (1999) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
1998-01-01 ConsoliDent, Inc.

Miami Gardens, Florida, United States

ConsoliDent, Inc. a dental practice management company with operations in Florida and Michigan providing a full range of general dentistry services and specialty dental services in orthodontics, oral surgery, endodontics, and periodontics.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
1999-08-02 Patriot Sensors & Controls Corp.

Clawson, Michigan, United States

Patriot Sensors is a leading designer and manufacturer of position sensing and liquid level sensing applications. The Company's products are used within the fabrication and assembly, high speed assembly and web processing, material handling automation and mill and heavy industry automation sectors. Patriot Sensors has operations in Michigan and California.

Sell $70M
Buyer

Health Enterprise Partners LP

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 2007
PE ASSETS 425M USD
SizeMiddle-Market
Type Sector Focused
DESCRIPTION

Health Enterprise Partners is a private equity firm focused on the healthcare technology, tech-enabled services, and healthcare services. Specific areas of interest include behavioral health IT, consumer engagement platforms, data security, genomics data analytics, payor services, tech-enabled substance abuse management, social determinants of health, and virtual care. The Firm generally pursues growth equity investments and small buy-and-builds. Health Enterprise Partners was formed in 2006 and is headquartered in New York City.


DEAL STATS #
Overall 1 of 27
Sector (Healthcare Services) 1 of 13
Type (Going Private) 1 of 1
State (Florida) 1 of 2
Country (United States) 1 of 27
Year (1999) 1 of 1
Size (of disclosed) 2 of 3
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2000-03-01 Caremedic Systems, Inc.

St. Petersburg, Florida, United States

CareMedic provides enterprise class solutions that streamline cash flow and speed the reimbursement process for hospitals and health systems, helping customers manage the complexity of the revenue cycle to increase their bottom lines. In 1997, CareMedic launched its flagship product, providing its customers with real-time direct entry to Medicare.

Buy -
Buyer

Ridgemont Equity Partners

Charlotte, North Carolina, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1993
PE ASSETS 2.4B USD
SizeLarge
Type Sector Agnostic
DESCRIPTION

Ridgemont Equity Partners is an independent private equity firm specializing in middle market buy-outs, corporate divestitures, recapitalizations and growth capital investments. The Firm targets to invest in companies located in North America, preferably in US and Canada. REP looks to invests $25 - $100 million in companies with EBIDTA of $5 - $30 million. The Firm seeks to hold both majority and minority equity interest in portfolio companies. Specific areas of interest include basin industries and services, energy, healthcare, telecommunications, media and technology. Ridgemont Equity Partners is a spun-off of Banc of America Capital Investors (BACI). Ridgemont Equity Partners was formed in August 2010 and is based in Charlotte, North Carolina and has additional offices in Dallas, Texas.


DEAL STATS #
Overall 23 of 118
Sector (Healthcare Services) 3 of 15
Type (Going Private) 2 of 9
State (Florida) 4 of 7
Country (United States) 23 of 104
Year (1999) 5 of 6
Size (of disclosed) 15 of 19
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
1999-05-01 Bargo Energy Co.

Houston, Texas, United States

Bargo Energy Company is an exploration and production company based in Houston, Texas that focused on the acquisition, divestiture, development and production of oil and gas properties in Texas, Louisiana, California and New Mexico.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
1999-05-27 Interact Commerce Corporation

Scottsdale, Arizona, United States

Interact Commerce Corporation is a software developer and produces SalesLogix and Act, two client-management programs. The Company was formed in 1995 and is based in Scottsdale, Arizona.

Sell -
Buyer

Vestar Capital Partners

New York, New York, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1988
PE ASSETS 7.0B USD
SizeMega
Type Sector Agnostic
DESCRIPTION

Vestar Capital Partners is a private equity firm that targets management buyouts and growth capital investments across North America and Europe in the consumer, business services, and healthcare sectors. The Firm looks to invest $50 to $150 million in transactions valued up to $1 billion. Specific areas of interest include food, apparel, household goods, retail, consumer services, industrial services, information services, manufacturing, distribution, transportation, financial services, media/communications, digital health media, and medical technology. Vestar Capital Partners was formed in 1988 and is based in New York City.


DEAL STATS #
Overall 27 of 81
Sector (Healthcare Services) 1 of 6
Type (Going Private) 1 of 7
State (Florida) 2 of 3
Country (United States) 27 of 65
Year (1999) 2 of 5
Size (of disclosed) 15 of 16
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
1999-04-01 TransMontaigne, Inc.

Denver, Colorado, United States

TransMontaigne, Inc., through its subsidiaries, operates as a refined petroleum products distribution and supply company in the United States.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
1999-07-01 International AirParts Corp.

Seattle, Washington, United States

International Air Parts is a specialised supplier of engine and airframe spare parts, maintenance and aircraft sales and leasing. We support regional and commuter aircraft types including airframe and powerplant for Fokker 100/70, F27 and F50, and Bae Jetstream, HS748 and 146 aircraft.

Sell -

Seller(S) 2

SELLER

Ridgemont Equity Partners

Charlotte, North Carolina, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1993
PE ASSETS 2.4B USD
SizeLarge
Type Sector Agnostic
DESCRIPTION

Ridgemont Equity Partners is an independent private equity firm specializing in middle market buy-outs, corporate divestitures, recapitalizations and growth capital investments. The Firm targets to invest in companies located in North America, preferably in US and Canada. REP looks to invests $25 - $100 million in companies with EBIDTA of $5 - $30 million. The Firm seeks to hold both majority and minority equity interest in portfolio companies. Specific areas of interest include basin industries and services, energy, healthcare, telecommunications, media and technology. Ridgemont Equity Partners is a spun-off of Banc of America Capital Investors (BACI). Ridgemont Equity Partners was formed in August 2010 and is based in Charlotte, North Carolina and has additional offices in Dallas, Texas.


DEAL STATS #
Overall 3 of 87
Sector (Healthcare Services) 1 of 7
Type (Going Private) 1 of 1
State (Florida) 2 of 6
Country (United States) 3 of 76
Year (1999) 1 of 3
Size (of disclosed) 20 of 22
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
1999-05-01 Bargo Energy Co.

Houston, Texas, United States

Bargo Energy Company is an exploration and production company based in Houston, Texas that focused on the acquisition, divestiture, development and production of oil and gas properties in Texas, Louisiana, California and New Mexico.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
1999-05-27 Interact Commerce Corporation

Scottsdale, Arizona, United States

Interact Commerce Corporation is a software developer and produces SalesLogix and Act, two client-management programs. The Company was formed in 1995 and is based in Scottsdale, Arizona.

Sell -
SELLER

TA Associates

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1968
PE ASSETS 28.0B USD
SizeMega
Type Sector Agnostic
DESCRIPTION

TA Associates Management LP is a private equity firm that targets investments in middle-market and large companies around the world. TA will consider control or minority investments in profitable companies and looks to commit between $50 and $500 million per transaction. TA currently manages approximately $24 billion of capital and proactively reaches out to companies directly in sourcing potential investment opportunities. Prospective businesses are generally valued between $150 million and $3 billion. Areas of interest include technology, software, communications, financial services, healthcare, business services, semiconductors/electronics, and consumer products/services. In addition to investing equity capital, TA also makes subordinated debt investments up to $75 million. TA's geographic preference is North America and Europe. TA Associates was formed in 1968 and is based in Boston, Massachusetts.


DEAL STATS #
Overall 50 of 237
Sector (Healthcare Services) 3 of 15
Type (Going Private) 1 of 1
State (Florida) 2 of 9
Country (United States) 47 of 200
Year (1999) 3 of 11
Size (of disclosed) 54 of 68
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
1999-03-03 Expert Software, Inc.

Coral Gables, Florida, United States

Expert Software, Inc. is a publisher of high-quality, value-priced consumer software that addresses a broad range of consumer interests and everyday tasks. Expert Software sells over 50 products in the productivity, lifestyle, small office/home office and entertainment market categories.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
1999-06-01 SBA Communications Corp.

Boca Raton, Florida, United States

SBA Communications is an owner and operator of wireless communications infrastructure.

Sell -