M&A Deal Summary

Thomas H. Lee Partners Acquires Careforth

On July 16, 2020, private equity firm Thomas H. Lee Partners acquired healthcare services company Careforth from NewSpring Capital and Guidepost Growth Equity

Acquisition Highlights
  • This is Thomas H. Lee Partners’ 5th transaction in the Healthcare Services sector.
  • This is Thomas H. Lee Partners’ 61st transaction in the United States.
  • This is Thomas H. Lee Partners’ 6th transaction in Massachusetts.

M&A Deal Summary

Date 2020-07-16
Target Careforth
Sector Healthcare Services
Buyer(s) Thomas H. Lee Partners
Sellers(s) NewSpring Capital
Guidepost Growth Equity
Deal Type Secondary Buyout

Target

Careforth

Boston, Massachusetts, United States
Careforth is a tech-enabled health services company transforming care management in the home. The Company introduced Caregiver Homes, a unique in-home care model that empowers and compensates family members as they care for loved ones with chronic conditions otherwise eligible for skilled nursing care. Careforth is currently in development of Vela, its next-generation technology platform that will allow caregivers to collaborate with care teams and health care professionals while navigating a broad network of resources and information. Careforth was formed in 2000 and is based in Boston, Massachusetts.

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Buyer(S) 1

Buyer

Thomas H. Lee Partners

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1974
PE ASSETS 35.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Thomas H. Lee Partners (THL) is a private equity firm that seeks buyout, expansion, consolidation, distressed, and recapitalization investments across various industries. Sectors of interest include business and information services, consumer products/retail, financial services, healthcare, industrial, and media/communications. THL looks to invest $100 to $400 million in companies valued up to $2.5 billion. THL was formed in 1974 and is based in Boston, Massachusetts.


DEAL STATS #
Overall 72 of 90
Sector (Healthcare Services) 5 of 7
Type (Secondary Buyout) 23 of 32
State (Massachusetts) 6 of 7
Country (United States) 61 of 77
Year (2020) 2 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-06-24 Dun & Bradstreet

Jacksonville, Florida, United States

Dun & Bradstreet is a global provider of business information, analytics, and data intelligence solutions. Leveraging a database of company information, credit data, and analytics, Dun & Bradstreet offers a comprehensive suite of products and services designed to help clients identify growth opportunities, enhance supply chain management, and mitigate financial and operational risks. Dun & Bradstreet was formed in 1841 and is based in Jacksonville, Florida.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-07-28 Juvare

Atlanta, Georgia, United States

Juvare is a provider of critical incident management and emergency preparedness software. The company’s innovative solutions optimise information sharing and streamline data into a common operating picture and workflow, enabling government agencies, corporations, healthcare facilities, academic institutions and public health departments to prepare for and respond to critical events more effectively. Juvare is based in Atlanta, Georgia.

Sell -

Seller(S) 2

SELLER

NewSpring Capital

Radnor, Pennsylvania, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1999
PE ASSETS 3.5B USD
Size Large
Type Sector Agnostic
DESCRIPTION

NewSpring Capital is a private investment firm focused on growth companies in the Mid-Atlantic US. The Firm can provide both growth equity and junior capital to prospective companies. NewSpring's target investment size for both mezzanine and equity financing is $2 to $5 million, although for new ventures, the Firm can commit up to $10 million. Sectors of interest include specialty manufacturing, technology, business services, information technology, life science, healthcare services, and medical devices. NewSpring Capital was formed in 1999 and is based in Radnor, Pennsylvania with an additional office in Short Hills, New Jersey.


DEAL STATS #
Overall 63 of 85
Sector (Healthcare Services) 6 of 6
Type (Secondary Buyout) 13 of 20
State (Massachusetts) 7 of 8
Country (United States) 62 of 84
Year (2020) 3 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-06-10 MacroHealth

Kirkland, Washington, United States

MacroHealth is a health information technology company that provides healthcare network optimization and claims settlement services to insurers, third-party administrators (TPAs), provider-sponsored health plans, and other payers. MacroHealth was founded in 2017 and is based in Kirkland, Washington.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-08-20 Prospect Mold

Cuyahoga Falls, Ohio, United States

Prospect Mold is a designer and manufacturer of complex molds, tooling and production parts for a variety of industries, including automotive and aerospace. Prospect Mold was founded in 1945 and is based in Cuyahoga Falls, Ohio.

Buy -
DESCRIPTION

North Bridge is an investment firm focused on providing seed, venture, and growth capital to technology enabled companies. Specific areas of interest include communications and infrastructure, software, materials, and digital media. For later stage growth transactions, North Bridge generally looks to acquire majority (or minority) positions to help fund liquidity needs, growth initiatives, or acquisitions. North Bridge was formed in 1994 and has offices in Waltham, Massachusetts and Palo Alto, California.


DEAL STATS #
Overall 14 of 20
Sector (Healthcare Services) 2 of 2
Type (Secondary Buyout) 5 of 6
State (Massachusetts) 4 of 4
Country (United States) 14 of 19
Year (2020) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-10-29 Green Rabbit

Braintree , Massachusetts, United States

Green Rabbit is an e-commerce cold chain logistics provider. Green Rabbit is based in Braintree, Massachusetts.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-08-14 Atlas Technology Solutions

Washington, District of Columbia, United States

Atlas Technology Solutions is a tech-enabled global employer of record and HR solutions provider for corporations to onboard, manage, and pay employees internationally in a compliant, quick, and cost-effective manner. Atlas Technology Solutions was founded in 2015 and is based in Washington, District of Columbia.

Buy -