Secondary Buyout • Healthcare Services

Centerbridge Partners Acquires Superior Vision

On November 24, 2015, asset manager Centerbridge Partners acquired healthcare services company Superior Vision from Nautic Partners

Acquisition Context
  • This is Centerbridge Partners’ 3rd transaction in the Healthcare Services sector.
  • This is Centerbridge Partners’ 20th transaction in the United States.
  • This is Centerbridge Partners’ 1st transaction in California.
Investment Fate
  • Superior Vision merged with another company in 2017.

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M&A Deal Summary

Date November 24, 2015
Target Superior Vision
Sector Healthcare Services
Buyer(s) Centerbridge Partners
Sellers(s) Nautic Partners
Deal Type Secondary Buyout
Advisor(s) Houlihan Lokey (Financial)
Locke Lord (Legal)

Target Company

Superior Vision

Rancho Cordova, California, United States
Superior Vision is a provider of vision and eye health solutions to the full spectrum of the vision care marketplace, including groups, health plans and government-sponsored programs. Company care for clients and members by delivering broad and affordable access to vision care, outstanding service and resources to help them make informed vision care choices that offer the greatest value. Superior Vision was founded in 1993 and is based in Rancho Cordova, California.
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Buyer Overview 1

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 Context for Buyer #
Overall 23 of 50
Sector: Healthcare Services 3 of 6
Type: Secondary Buyout 14 of 27
State: California 1 of 6
Country: United States 20 of 41
Year: 2015 7 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-08-31 American Renal Associates

Beverly, Massachusetts, United States

American Renal Associates is a developer, owner and operator of outpatient kidney dialysis facilities in partnership with nephrologists. American Renal Associates was founded in 1999 and is based in Beverly, Massachusetts.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-03-22 Carefree Communities

Scottsdale, Arizona, United States

Carefree Communities, Inc. is an operator of destination RV parks and manufactured home communities.

Sell $1.7B

Seller Profile 1

SELLER

Nautic Partners

Providence, Rhode Island, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1986
PE ASSETS 9.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Nautic Partners is a private equity firm focused on middle-market company investments based in the US. Nautic looks to invest $50 to $400 million of equity in businesses valued between $100 million and $1 billion. Nautic's industry focus is business services, manufacturing, healthcare, and communications. Prospective investment structures include buyouts, recapitalizations, consolidations, and growth financings. Nautic prefers majority investment positions. Nautic Partners was formed in 1986 and is based in Providence, Rhode Island.


Deal Context for Seller #
Overall 33 of 47
Sector: Healthcare Services 6 of 7
Type: Secondary Buyout 11 of 20
State: California 3 of 5
Country: United States 33 of 46
Year: 2015 5 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-10-28 Aerostar Aerospace Manufacturing

Phoenix, Arizona, United States

Aerostar Aerospace is a provider of precision machined parts and assemblies used in commercial and military aircraft.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-02-10 Simplura Health Group

Valley Stream, New York, United States

Simplura Health Group is a provider of home care services to patients in New York, New Jersey, and Florida. Simplura Health provides a wide range of services from basic services, such as providing a homemaker to assist with meal preparation and light housekeeping for a few hours a day or a home health aide to provide assistance with activities of daily living, to complex home nursing services provided by around-the-clock Registered Nurses. Simplura Health Group was founded in 1955 and is based in Valley Stream, New York.

Sell -