M&A Deal Summary

Avista Healthcare Partners Acquires Spear Education

On December 19, 2022, private equity firm Avista Healthcare Partners acquired education company Spear Education from Linden Capital Partners and Golub Capital

Acquisition Highlights
  • This is Avista Healthcare Partners’ 1st transaction in the Education sector.
  • This is Avista Healthcare Partners’ 43rd transaction in the United States.
  • This is Avista Healthcare Partners’ 1st transaction in Arizona.

M&A Deal Summary

Date 2022-12-19
Target Spear Education
Sector Education
Buyer(s) Avista Healthcare Partners
Sellers(s) Linden Capital Partners
Golub Capital
Deal Type Secondary Buyout

Target

Spear Education

Scottsdale, Arizona, United States
Spear Education is dentistry’s source for continuing education that serves dentists of all clinical skill levels and transforms practices and the lives of patients by offering physical hands-on courses, extensive peer-to-peer regional learning, and comprehensive online educational tools. Spear Education is based in Scottsdale, Arizona.

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Buyer(S) 1

Buyer

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 52 of 54
Sector (Education) 1 of 1
Type (Secondary Buyout) 17 of 19
State (Arizona) 1 of 1
Country (United States) 43 of 43
Year (2022) 4 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-11-01 Taconic Biosciences

Germantown, New York, United States

Taconic Biosciences is a provider of genetically engineered models and service solutions used in life sciences research. Taconic provides murine solutions so that customers can acquire, custom generate, breed, precondition, test, and distribute valuable research models worldwide. Taconic Biosciences was founded in 1952 and is based in Germantown, New York.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-02-16 Terrats Medical

Barcelona, Spain

Terrats Medical manufactures and markets a wide variety of high-quality, high-value dental prosthetics, including abutments, implants, and related products. Terrats Medical was founded in 1947 and is based in Barcelona, Spain.

Buy -

Seller(S) 2

SELLER

Linden Capital Partners

Chicago, Illinois, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2004
PE ASSETS 3.0B USD
Size Large
Type Sector Focused
DESCRIPTION

Linden LLC is a private equity firm that invests in businesses involved in the healthcare and life science sectors. However, the firm also executes any size private equity transaction between $10 million to $2 billion through the firm's alliance with Madison Dearborn Partners. Linden is not a venture capital investor. The firm specializes in investments in non-core businesses owned by large corporations, as well as traditional management buyouts of independent companies. Linden LLC was formed in 2004 and is based in Chicago, Illinois.


DEAL STATS #
Overall 26 of 27
Sector (Education) 1 of 1
Type (Secondary Buyout) 9 of 9
State (Arizona) 1 of 1
Country (United States) 26 of 27
Year (2022) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-12-01 LifeStyles

Singapore, Singapore

LifeStyles is specialized in sexual wellness sector, possessing a broad product range. LifeStyles was founded in 1905 and is based in Singapore.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-01-31 Specialty Networks

Cleveland, Ohio, United States

Specialty Networks is a technology-enabled group purchasing organization (GPO) that serves independent specialty medical practices, pharmaceutical companies, and medical device companies. Specialty Networks’ service offerings include UroGPO, a urology-specific GPO and provider of educational programs for providers, PPS Analytics, a clinical and business intelligence company serving providers and industry partners, GastroGPO, a gastroenterology-specific GPO, United Rheumatology, a rheumatology-specific GPO, and SN Research, a decentralized clinical research platform. Specialty Networks was founded in 2018 and is headquartered in Cleveland, Ohio.

Sell $1.2B
SELLER

Golub Capital

New York, New York, United States

Investor Investor Investor Investor Investor


Category Lender
Founded 1994
PE ASSETS 55.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Golub Capital is a private investment firm focused on making debt and equity investments in US based middle-market companies. Golub looks to invest between $5 and $75 million in businesses with established operating cash flow, strong customer relationships, and 'sustainable proprietary positions in their markets'. Prospective investment structures include refinancings, recapitalizations, buyouts, and growth financings. Sectors of interest include consumer products, business and consumer services, defense, manufacturing, value-added distribution, media, healthcare services and restaurants. Golub Capital was formed in 1994 and maintains offices in New York City, Atlanta, and Chicago.


DEAL STATS #
Overall 36 of 41
Sector (Education) 1 of 1
Type (Secondary Buyout) 17 of 19
State (Arizona) 1 of 1
Country (United States) 36 of 39
Year (2022) 6 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-12-19 Radiance Holdings

Lakewood, Colorado, United States

Radiance Holdings represents a collection of premier brands in the beauty, wellness, and self-care sector. Radiance's current brand portfolio includes Sola Salons, a salon studios franchise; Woodhouse, a day spa brand in the U.S.; and BeautyHive, an online distributor of professional beauty products. The company is committed to investing in its brands, driving innovation, and helping its franchisees and their community of independent beauty professionals grow their businesses and improve their lives. Radiance Holdings is based in Lakewood, Colorado.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-01-04 SureWerx

Coquitlam, British Columbia, Canada

SureWerx is a supplier of professional safety products, tools, and equipment. The company offers access to its brands through its partner distributor network servicing the industrial, construction, safety, and automotive aftermarket markets globally. SureWerx was founded in 1957 and is based in Coquitlam, British Columbia.

Sell -