M&A Deal Summary

Advent International Acquires AccentCare

On May 16, 2019, private equity firm Advent International acquired healthcare services company AccentCare from Oak Hill Capital

Acquisition Highlights
  • This is Advent International’s 17th transaction in the Healthcare Services sector.
  • This is Advent International’s 78th transaction in the United States.
  • This is Advent International’s 11th transaction in Texas.

M&A Deal Summary

Date 2019-05-16
Target AccentCare
Sector Healthcare Services
Buyer(s) Advent International
Sellers(s) Oak Hill Capital
Deal Type Secondary Buyout
Advisor(s) Harris Williams
J.P. Morgan Securities (Financial)
Paul, Weiss, Rifkind, Wharton & Garrison (Legal)

Target

AccentCare

Dallas, Texas, United States
AccentCare is a provider of post-acute healthcare, with partnerships and care models covering the full continuum from personal, non-medical care to skilled nursing, rehabilitation, hospice, and care management. AccentCare was founded in 1999 and is based in Dallas, Texas.

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Buyer(S) 1

Buyer

Advent International

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1984
PE ASSETS 91.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Advent is a global private equity firm that targets investments in North America, Europe, Asia, and Latin America. Advent's emerging market efforts are concentrated in Central Europe and Latin America. Advent seeks transactions valued between $50 million and $5 billion and can commit up to $2 billion of equity capital per investment. Broad areas of interest include business & financial services, retail & consumer, technology, media, & telecoms, healthcare & life sciences, and industrial. Prospective transaction types include buyouts, growth capital financings, take privates, and recapitalizations. Advent was formed in 1984 and is based in Boston, Massachusetts.


DEAL STATS #
Overall 272 of 353
Sector: Healthcare Services M&A 17 of 18
Type: Secondary Buyout M&A Deals 44 of 58
State: Texas M&A 11 of 12
Country: United States M&A 78 of 106
Year: 2019 M&A 5 of 17
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-04-16 Nexi

Milan, Italy

Nexi provides electronic money and payment services to banks, small and medium-sized enterprises, large international corporations, institutions, and public administrations in Italy, Nordics and Baltics, Germany, Austria, Switzerland, Poland, Southeast Europe, and internationally. The company offers payment processing and acceptance services; configuration, activation, and maintenance of Point of Sales terminals; fraud prevention services; and dispute management services, as well as customer support and value-added services. Nexi was founded in 1939 and is headquartered in Milan, Italy.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-05-30 Prometheus Group

Raleigh, North Carolina, United States

Prometheus Group is a global provider of comprehensive and intuitive enterprise asset management software solutions specializing in improving the efficiency and effectiveness of maintenance planning, scheduling, and execution. Developed jointly with end users, Prometheus software enhances the customer experience with intuitive functionality, graphical visualization, and simple processes, enabling the company’s customers to increase productivity, reduce costs and improve reporting. Prometheus Group was founded in 1998 and is based in Raleigh, North Carolina.

Buy $1.0B

Seller(S) 1

SELLER

Oak Hill Capital

Stamford, Connecticut, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1986
PE ASSETS 9.5B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Oak Hill Capital Partners was originally formed as the private equity investment vehicle for Robert Bass and in 1999, opened up to outside investors and raised its first private equity fund. Oak Hill looks to invest in middle-market companies and focuses its efforts within six industry groups. The six groups include basic industries; business and financial services; consumer, retail, and distribution; healthcare; media and telecom; and technology. Oak Hill targets businesses with defensible business models, strong market positions, and 'best-in-class' management. Oak Hill Capital was formed in 1986 and has offices in Stamford, Connecticut; Menlo Park, California; and New York City.


DEAL STATS #
Overall 47 of 56
Sector: Healthcare Services M&A 3 of 3
Type: Secondary Buyout M&A Deals 9 of 11
State: Texas M&A 5 of 7
Country: United States M&A 39 of 47
Year: 2019 M&A 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-04-08 Wrench Group

Sarasota, Florida, United States

Wrench Group is a provider of home repair, replacement, and maintenance services specializing in heating, ventilation and air conditioning (HVAC), plumbing, water, and electrical services. Wrench Group is based in Sarasota, Florida.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-07-23 VertexOne

Houston, Texas, United States

VertexOne is a provider of customer information system (“CIS”) software and integration services to the mid-market public and investor-owned utility industry. VertexOne was founded in 1996 and is based in Houston, Texas.

Sell -