M&A Deal Summary

Aquiline Capital Partners and Audax Private Debt Acquire MDpanel

On October 10, 2023, private equity firm Aquiline Capital Partners and mezzanine finance firm Audax Private Debt acquired healthcare services company MDpanel

Acquisition Highlights
  • This is Aquiline Capital Partners’ 2nd and Audax Private Debt’s 9th transaction in the Healthcare Services sector.
  • This is Aquiline Capital Partners’ 48th and Audax Private Debt’s 103rd transaction in the United States.
  • This is Aquiline Capital Partners’ 13th and Audax Private Debt’s 8th transaction in California.

M&A Deal Summary

Date 2023-10-10
Target MDpanel
Sector Healthcare Services
Buyer(s) Aquiline Capital Partners
Audax Private Debt
Deal Type Consolidation

Target

MDpanel

Los Angeles, California, United States
MDpanel is a provider of expert medical opinions in the U.S., serving physicians across a range of specialties. MDpanel is based in Los Angeles, California.

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Buyer(S) 2

Buyer

Aquiline Capital Partners

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2005
PE ASSETS 10.4B USD
Size Mega
Type Sector Focused
DESCRIPTION

Aquiline Capital Partners is a private equity firm that targets investments in the financial services sector. The Firm specifically invests in risk-bearing and services enterprises in industries such as property and casualty insurance, specialty finance, securities, asset management, life insurance and transaction processing. Aquiline Capital was formed in 2005 and is based in New York City.


DEAL STATS #
Overall 66 of 72
Sector: Healthcare Services M&A 2 of 2
Type: Consolidation M&A Deals 3 of 3
State: California M&A 13 of 13
Country: United States M&A 48 of 53
Year: 2023 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-08-30 Health IQ

Mountain View, California, United States

Health IQ is an insurance technology innovator that uses proprietary data to reward runners, cyclists, swimmers, and other health-minded Americans with more attractively priced term-life insurance. Health IQ was founded in 2014 and is based in Mountain View, California.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-01-10 LeaseCrunch

Milwaukee, Wisconsin, United States

LeaseCrunch offers simple, automated lease accounting software which expedites lease transition, accounting, and maintenance processes in compliance with lease accounting standards. LeaseCrunch is based in Milwaukee, Wisconsin.

Buy -
Buyer

Audax Private Debt

New York, New York, United States

Investor Investor Investor Investor Investor


Category Mezzanine Finance Firm
Founded 2000
PE ASSETS 5.4B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Audax Mezzanine is the mezzanine finance arm of the Audax Group. The Firm focuses on investing in both private and public, US-based middle market companies with a strong history of cash flows and consistent revenue growth. Audax will consider subordinated mezzanine debt commitments, second lien or junior secured debt, preferred stock and common stock. The Firm seeks to invest in companies with EBITDA between $10 and $100 million. Types of transaction include MBOs, LBOs, growth capital financings, acquisition financings, and recapitalizations. Audax Private Debt is based in New York, New York.


DEAL STATS #
Overall 105 of 120
Sector: Healthcare Services M&A 9 of 11
Type: Consolidation M&A Deals 2 of 2
State: California M&A 8 of 10
Country: United States M&A 103 of 118
Year: 2023 M&A 8 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-09-18 Vortex

Houston, Texas, United States

Vortex is a trenchless solution provider in the water, sewer, and industrial marketplace. Its suite of services includes turnkey bypass and dewatering, large diameter structural relining, pipe bursting and slip lining, structural and corrosion protection, trenchless robotic systems, pipe and drain cleaners and industrial facility maintenance and renewal. Vortex is based in Houston, Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-01-17 Market Performance Group

Princeton Junction, New Jersey, United States

Market Performance Group is an omnichannel commerce agency providing strategy and consulting services. MPG offers end-to-end omnichannel capabilities and integrated solutions for a wide range of strategy and commercialization needs, including strategy & business consulting, omnichannel strategy & services, business analytics & insights, consumer marketing & retail activation, order to cash/3 PL, and FleXforce. Market Performance Group was formed in 2002 and is headquartered in Princeton Junction, New Jersey.

Buy -