Investment Summary

GTCR Exit XiFin

On February 5, 2020, private equity firms Avista Healthcare Partners and Constitution Capital Partners invested in internet software and services company XiFin from GTCR

Investment Highlights
  • This is Avista Healthcare Partners’ 1st and Constitution Capital Partners’ 3rd transaction in the Internet Software and Services sector.
  • This is Avista Healthcare Partners’ 37th and Constitution Capital Partners’ 53rd transaction in the United States.
  • This is Avista Healthcare Partners’ 5th and Constitution Capital Partners’ 5th transaction in California.

Investment Summary

Date 2020-02-05
Target XiFin
Sector Internet Software and Services
Investor(s) Avista Healthcare Partners
Constitution Capital Partners
Sellers(s) GTCR
Deal Type Secondary Buyout

Target

XiFin

San Diego, California, United States
XiFin is a provider of cloud-based software and services to diagnostic service providers. XiFin's technology platform enables end-to-end connectivity from patient to payor, linking together the many stakeholders in healthcare delivery and optimizing for the best business and patient outcomes. XiFin was founded in 1997 and is based in San Diego, California.

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Investor(S) 2

Investor

Avista Healthcare Partners

New York, New York, United States

Category Private Equity Firm
Founded 2005
PE ASSETS 8.0B USD
Size Mega
Type Sector Focused
DESCRIPTION

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.


DEAL STATS #
Overall 44 of 56
Sector: Internet Software and Services M&A 1 of 1
Type: Secondary Buyout M&A Deals 11 of 19
State: California M&A 5 of 6
Country: United States M&A 37 of 44
Year: 2020 M&A 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-09-03 GCM Holding

Union, California, United States

GCM Holding is a manufacturer of low-to-medium volume, mission-critical precision machined components and assemblies. Based near Chicago’s O’Hare airport, the Company serves large, market customers in the energy, medical equipment, scientific laboratory, and industrial end markets. GCM Holding was founded in 1978 and is based in Union, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-06-01 Vision Consumer Health

Kortrijk, Belgium

Vision Consumer Health is a consumer healthcare company with a portfolio of self-care brands and OTC products in several European countries. Vision Consumer Health was founded in 2017 and is based in Kortrijk, Belgium.

Buy €305M
Investor
DESCRIPTION

Constitution Capital Partners is a private equity and asset management firm focused on opportunities throughout North America. Constitution Capital typically invests in private equity partnerships, however the Firm also makes direct private equity and credit investments. Constitution Capital Partners does not have any sector preferences. Constitution Capital Partners was formed in 2008 and is headquartered in Andover, Massachusetts.


DEAL STATS #
Overall 57 of 89
Sector: Internet Software and Services M&A 3 of 3
Type: Secondary Buyout M&A Deals 19 of 40
State: California M&A 5 of 9
Country: United States M&A 53 of 83
Year: 2020 M&A 2 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-01-01 Founders Table

Rye Brook, New York, United States

Founders Table create, acquire, and cultivate innovative and profitable founder-led restaurant companies. Founders Table was founded in 2020 and is based in Rye Brook, New York.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-06-10 Vroom

Fort Worth, Texas, United States

Vroom is an online car store in the US that helps customers save time, hassle and money by bringing all three aspects of the car buying process – buying, financing and selling – online in an easy, transparent and affordable way. Vroom offers thousands of high quality, refurbished, pre-owned vehicles with free delivery to customers’ doors across the US. Vroom was founded in 2012 and is based in New York, New York.

Sell -

Seller(S) 1

SELLER

GTCR

Chicago, Illinois, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1980
PE ASSETS 15.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

GTCR is a private equity firm that typically partners with management when pursuing acquisitions. The Firm looks to grow companies through build-on acquisitions, consolidations, and internal growth. GTCR will consider both equity and mezzanine capital commitments and concentrates its investment activity in consumer products & services, healthcare services, outsourced business services, technology, transaction processing, and pharma/medical products. GTCR was formed in 1980 and is based in Chicago, Illinois.


DEAL STATS #
Overall 74 of 87
Sector: Internet Software and Services M&A 4 of 5
Type: Secondary Buyout M&A Deals 19 of 22
State: California M&A 6 of 7
Country: United States M&A 71 of 84
Year: 2020 M&A 2 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-01-08 Lytx

San Diego, California, United States

Lytx is a provider of all-in-one video telematics, analytics, safety, and productivity solutions for commercial, public sector, and field services fleets. Lytx customizable services and programs span driver safety, risk detection, fleet tracking, compliance, and fuel management. Lytx was founded in 1998 and is based in San Diego, California.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-05-12 Guideline

New York, New York, United States

Guideline focuses on advertising technology business through the acquisition of incredible data-driven assets to allow the company to innovate, grow existing capabilities, and use machine learning to offer accurate automated solutions to age-old industry processes. Guideline was formed in 2020 and is based in New York.

Buy -