M&A Deal Summary

Centerbridge Partners and Leonard Green & Partners Acquire Mindpath Health

On December 15, 2020, asset manager Centerbridge Partners and private equity firm Leonard Green & Partners acquired healthcare services company Mindpath Health from New Harbor Capital and Avante Capital Partners

Acquisition Highlights
  • This is Centerbridge Partners’ 6th and Leonard Green & Partners’ 8th transaction in the Healthcare Services sector.
  • This is Centerbridge Partners’ 34th and Leonard Green & Partners’ 81st transaction in the United States.
  • This is Centerbridge Partners’ 4th and Leonard Green & Partners’ 11th transaction in California.

M&A Deal Summary

Date 2020-12-15
Target Mindpath Health
Sector Healthcare Services
Buyer(s) Centerbridge Partners
Leonard Green & Partners
Sellers(s) New Harbor Capital
Avante Capital Partners
Deal Type Secondary Buyout
Advisor(s) Cain Brothers & Co. LLC (Financial)
McDermott Will & Emery (Legal)

Target

Mindpath Health

Sacramento, California, United States
Mindpath Health is a behavioral health practice management company supporting over 40 affiliated psychiatrists practicing in California’s Sacramento, San Joaquin, and Bay Areas. Mindpath Health was founded in 1995 and is based in Sacramento, California.

Search 200,577 Deals Now

SEARCH BY

  • Buyer Type (PE or Strategic)
  • Deal Size ($10M to $10B+)
  • Sector (60 Sectors)
  • Deal Type
  • Geography
  • & More

Try For Free 7-Day Free Trial

Buyer(S) 2

Buyer

Centerbridge Partners

New York, New York, United States

Investor Investor Investor Investor Investor


Category Asset Manager
Founded 2005
PE ASSETS 38.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Centerbridge Partners is a mega-sized private equity firm focused primarily on distressed/special situations in North America and Europe. In addition to making control investments, Centerbridge also maintains funds for non-control credit investments. Centerbridge was formed in 2005 and is based in New York City.


DEAL STATS #
Overall 42 of 47
Sector (Healthcare Services) 6 of 6
Type (Secondary Buyout) 24 of 27
State (California) 4 of 5
Country (United States) 34 of 39
Year (2020) 6 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-10-30 Help at Home

Chicago, Illinois, United States

Help at Home is a home care provider delivering in-home care to seniors and persons with disabilities. Help at Home was founded in 1975 and is based in Chicago, Illinois.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-03-03 Precisely

Burlington, Massachusetts, United States

Precisely is a provider of data integrity software. The Company provides accuracy, consistency, and context in data for 12,000 customers in more than 100 countries. Precisely’s data integration, data quality, data governance, location intelligence, and data enrichment products power better business decisions to create better outcomes. Precisely is based in Burlington, Massachusetts.

Sell -
Buyer

Leonard Green & Partners

Los Angeles, California, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1989
PE ASSETS 75.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Leonard Green & Partners is a mega-sized private equity firm that invests in established companies that are leaders in their respective markets. Leonard Green will consider investments in consumer and business services, consumer products, distribution, media, and retail. Typical transaction values for acquisitions are between $500 million and $2 billion, however, the firm is capable of closing transactions valued up to $5 billion. Types of transactions include public-to-private, recapitalizations of privately held businesses, growth capital, equity capital to facilitate acquisitions, turnarounds/restructurings, and acquisitions of divisions/assets from large corporations. Leonard Green & Partners was formed in 1989 and is based in Los Angeles, California.


DEAL STATS #
Overall 86 of 102
Sector (Healthcare Services) 8 of 11
Type (Secondary Buyout) 36 of 47
State (California) 11 of 11
Country (United States) 81 of 94
Year (2020) 5 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-11-19 ECI Software Solutions

Fort Worth, Texas, United States

ECI Software Solutions is a provider of industry-specific business software solutions and services, focusing on cloud-based technologies. ECI has served small to medium-sized manufacturing, wholesale/retail distribution, building and construction, and field service organizations. ECI Software Solutions was founded in 1998 and is based in Fort Worth, Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-03-10 FineLine Technologies

Norcross, Georgia, United States

FineLine Technologies provides customizable branded, barcoded, and RFID integrated labels, tags and badges for supply chain, omnichannel fulfillment, POS, access control, and consumer engagement needs. FineLine produces billions of tickets annually, processing data quickly and securely, printing high-quality graphics and scannable barcodes, encoding UHF and HF RFID, with global delivery within six business days, and online tracking, order detail, and analytics to help our customers manage their business. FineLine Technologies was founded in 1998 and is based in Norcross, Georgia.

Buy -

Seller(S) 2

SELLER

New Harbor Capital

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2013
PE ASSETS 500M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

New Harbor Capital is a lower middle-market private equity firm focused on investing in and acquiring profitable, growth-oriented companies. New Harbor seeks opportunities in the healthcare services, education, and business services sectors and looks to invest $10 to $40 million per transaction. The Firm prefers control investment situations and typically looks to fund growth capital financings, management buyouts, and recapitalizations. New Harbor Capital was established in 2013 and is headquartered in Chicago, Illinois.


DEAL STATS #
Overall 8 of 10
Sector (Healthcare Services) 4 of 5
Type (Secondary Buyout) 4 of 4
State (California) 2 of 2
Country (United States) 8 of 10
Year (2020) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-12-10 Certica Solutions

Wakefield, Massachusetts, United States

Certica Solutions, Inc. provides an education technology platform, content and data solutions that enable K-12 educators and administrators to improve instructional and organizational performance. Certica partners with a diverse network of education technology companies, publishers and assessment providers; and delivers solutions directly to over 500 school districts, charter schools and educational service agencies. Certica Solutions was founded in 2000 and is based in Wakefield, Massachusetts.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-03-12 Advent Home Medical

Pontiac, Michigan, United States

Advent Home Medical is a high-tech medical equipment company. Family owned and operated by a respiratory therapist, Advent's home ventilator program, home tracheostomy program & ventilator weaning program are designed to safely transition home the most complex respiratory patients of all ages. Advent Home Medical was founded in 2004 and is based in Pontiac, Michigan.

Buy -
SELLER

Avante Capital Partners

Los Angeles, California, United States

Investor Investor Investor Investor Investor


Category Mezzanine Finance Firm
Founded 2009
Size Small
Type Sector Agnostic
DESCRIPTION

Avante Mezzanine Partners is a provider of junior capital to lower middle-market companies generating at least $3 million in cash flow. The Firm looks to invest $5 to $20 million per transaction and generally works with private equity and independent sponsors in buyout transactions, as well as with entrepreneurs and owners to finance recapitalizations, refinancings, acquisitions and growth. Avante Mezzanine was formed in 2009 and has offices in Los Angeles and Boston.


DEAL STATS #
Overall 12 of 17
Sector (Healthcare Services) 1 of 1
Type (Secondary Buyout) 6 of 9
State (California) 3 of 4
Country (United States) 12 of 17
Year (2020) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-12-10 Learners Edge

Eagan, Minnesota, United States

Learners Edge provides online professional development, continuing education, and master’s degree programs for K-12 teachers. Learners Edge was established with the mission to help teachers advance their classroom skills and careers, while also improving student learning. Learners Edge was founded in 2002 and is based in Eagan, Minnesota.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-07-29 Whitebridge Pet Brands

Chesterfield, Missouri, United States

Whitebridge Pet Brands is a provider of natural, wholesome, and minimally processed food and treats for dogs and cats. The Company’s family of brands – Cloud Star, Buddy Biscuits, Wag More Bark Less, Tiki Cat, Tiki Dog, Dogswell, and Nutrisca are sold through a variety of retailers across the U.S. and Canada. Whitebridge Pet Brands is based in Chesterfield, Missouri.

Sell -