Investment Summary

Summit Partners and HarbourVest Partners Invest In Advance Health

On January 27, 2015, growth capital firm Summit Partners and private equity firm HarbourVest Partners invested in healthcare services company Advance Health

Investment Highlights
  • This is Summit Partners’ 27th and HarbourVest Partners’ 8th transaction in the Healthcare Services sector.
  • This is Summit Partners’ 243rd and HarbourVest Partners’ 79th transaction in the United States.
  • This is Summit Partners’ 7th and HarbourVest Partners’ 3rd transaction in Virginia.
Investment Fate
  • Advance Health merged with another company in 2017.

Investment Summary

Date 2015-01-27
Target Advance Health
Sector Healthcare Services
Investor(s) Summit Partners
HarbourVest Partners
Deal Type Growth Capital
Advisor(s) Bass, Berry & Sims PLC (Legal)

Target

Advance Health

Chantilly, Virginia, United States
Advance Health is a healthcare provider of prospective health risk assessments (“HRAs”). Advance Health offers in-home and facility-based HRAs and chronic care management services for health plans. Advance Health was founded in 2010 and is based in Chantilly, Virginia.

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Investor(S) 2

Investor

Summit Partners

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor


Category Growth Capital Firm
Founded 1984
PE ASSETS 39.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Summit Partners is a private investment and asset management firm focused on venture, growth, credit, and public equity investing. Sectors of interest include business services, communications technology and services, consumer products, energy, financial services, healthcare and life sciences, industrial products, internet/information services, media/entertainment, semiconductors, electronics, and software. Summit Partners is known for having a proactive business development group for sourcing transactions. Summit will consider both minority or majority investment stakes and is willing to commit as little as $10 million or as much as $500 million in combined debt/junior capital per transaction. The Firm's geographic coverage spans North America and Europe. Summit Partners was formed in 1984 and is headquartered in Boston, Massachusetts.


DEAL STATS #
Overall 273 of 386
Sector (Healthcare Services) 27 of 41
Type (Growth Capital) 160 of 218
State (Virginia) 7 of 7
Country (United States) 243 of 319
Year (2015) 2 of 15
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-01-07 Nomacorc

Zebulon, North Carolina, United States

Nomacorc engineers synthetic wine closures to prevent cork taint, oxidation and crumbling, providing a long-term solution at a lower price than a traditional wine cork. Nomacorc is based in Zebulon, North Carolina.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-03-04 IGEFI Group s.à r.l.

Luxembourg, Luxembourg

Multifonds is a provider of fund accounting and transfer agency software for top-tier asset managers, hedge funds, and third-party administrators worldwide.

Sell €235M
Investor

HarbourVest Partners

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1978
PE ASSETS 86.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

HarbourVest Partners, LLC is an investment firm that makes investments in new private equity partnerships, acquires secondary interests, and makes direct investments in operating companies. HarbourVest's largest investment area is investments in private equity funds, comprising of approximately 2/3 of HarbourVest's assets. HarbourVest's direct investment group looks for investments in growth oriented businesses at a variety of stages. The Group generally targets co-investments of $5 to $100 million, growth capital financings of $5 to $40 million, or mezzanine commitments of $5 to $20 million. Sectors of interest include software, hardware, data communications, telecommunications, and financial services. HarbourVest was formed in 1997 to assume the business of Hancock Venture Partners which was formed in 1982. HarbourVest Partners is based in Boston, Massachusetts, with additional offices in London, Tokyo, and Hong Kong.


DEAL STATS #
Overall 128 of 222
Sector (Healthcare Services) 8 of 13
Type (Growth Capital) 17 of 30
State (Virginia) 3 of 4
Country (United States) 79 of 133
Year (2015) 2 of 10
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-01-22 Trainline

London, United Kingdom

Trainline is an online provider of rail tickets for rail travel in the UK. The Company was Founded in 1999 and is based in London, United Kingdom.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-02-03 Big Heart Pet Brands

San Francisco, California, United States

Big Heart Pet Brands is a standalone producer, distributor and marketer of premium quality, branded pet food and pet snacks. The Company’s purpose is to nurture the bond between pets and the people who love them – making every day special. Its portfolio of brands, with a foundation in dog and cat food and treats, strives to cater to every pet life stage and every family’s budget through the availability and accessibility of its products.

Sell $5.8B