M&A Deal Summary

Century Equity Partners and Ontario Teachers Pension Plan Acquire PhyNet Dermatology

On January 2, 2017, private equity firm Century Equity Partners and pension Ontario Teachers Pension Plan acquired business services company PhyNet Dermatology

Acquisition Highlights
  • This is Century Equity Partners’ 3rd and Ontario Teachers Pension Plan’s 6th transaction in the Business Services sector.
  • This is Century Equity Partners’ 23rd and Ontario Teachers Pension Plan’s 48th transaction in the United States.
  • This is Century Equity Partners’ 2nd and Ontario Teachers Pension Plan’s 3rd transaction in Tennessee.

M&A Deal Summary
Date 2017-01-02
Target PhyNet Dermatology
Sector Business Services
Buyer(s) Century Equity Partners
Ontario Teachers Pension Plan
Deal Type Buyout (LBO, MBO, MBI)

Target

PhyNet Dermatology

Franklin, Tennessee, United States
PhyNet Dermatology is an outsourced managed services company for dermatology practices. PhyNet provides key administrative services for these practices including billing and collections, payor contracting/negotiation, compliance, finance and accounting, and M&A execution and integration. PhyNet Dermatology is based in Franklin, Tennessee.

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Buyer(S) 2

Buyer

Century Equity Partners

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1987
PE ASSETS 885M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Century Equity Partners is an asset management firm invests in lower middle-market companies located in the US. Century Equity Partners focuses on companies with rapidly growing, profitable businesses led by strong management teams with an enterprise value between $15 and $300 million and equity capital ranging from $5 to $30 million and in conjunction with its limited partners and select co-investors can commit up to $100 million to a single transaction. The Firm targets companies operating in the fields of financial services, insurance, and healthcare services. Types of transactions include buyouts and growth capital. It seeks minority interest and also considers co-invests. Century Equity Partners was formed in 1987 and is based in Boston, Massachusetts.

DEAL STATS #
Overall 30 of 33
Sector (Business Services) 3 of 4
Type (Buyout (LBO, MBO, MBI)) 10 of 11
State (Tennessee) 2 of 2
Country (United States) 23 of 26
Year (2017) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-04-08 Conner Strong & Buckelew

Camden, New Jersey, United States

Conner Strong & Buckelew is a major insurance, risk management and employee benefits brokerage and consulting firm. Conner Strong offers customized programs designed to align with organizational goals and drive bottom-line growth. Conner Strong provides insurance and risk services to a wide range of industries including but not limited to aviation, construction, education, healthcare, hospitality & gaming, life science & technology, public entity, and real estate. Conner Strong & Buckelew was founded in 1959 and is based in Camden, New Jersey.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-05-03 BrightClaim

Atlanta, Georgia, United States

BrightClaim LLC is a national provider of outsourced insurance property claims services. BrightClaim provides insurance carriers with a suite of services for managing daily and catastrophe claims, including claims adjusting, TPA services, and contents pricing services. BrightClaim LLC was established in 2004 and is headquartered in Atlanta, Georgia.

Sell -
Buyer

Ontario Teachers Pension Plan

Toronto, Ontario, Canada

Investor Investor Investor Investor Investor

Category Pension
Founded 1990
PE ASSETS 242.5B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Teachers' Private Capital is the direct investment arm of the Ontario Teachers' Pension Plan. Teachers' Private Capital considers both private equity and venture related investments in North America, Europe, and Asia. Teachers' can support direct private equity investments between $100 million and $3 billion. Target sectors include business services, consumer products, retail, diversified industrials, financial services, technology, media, and communications. Teachers' Private Capital also makes private equity fund investments between $50 million and $750 million. Teachers' Private Capital was formed in 1991 and is based in Toronto, with additional offices in London and New York.

DEAL STATS #
Overall 101 of 175
Sector (Business Services) 6 of 7
Type (Buyout (LBO, MBO, MBI)) 34 of 40
State (Tennessee) 3 of 3
Country (United States) 48 of 72
Year (2017) 1 of 13
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-12-19 Arterra Wines Canada

Mississauga, Ontario, Canada

Arterra Wines Canada is a producer and marketer of wines. Arterra Wines Canada is based in Mississauga, Ontario.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-01-12 Compass Datacenters

Dallas, Texas, United States

Compass Datacenters is a data center developer. Compass Datacenters provides enterprises, service providers, and hyperscale customers with solutions that reflect a dramatic change from conventional alternatives like wholesale colocation or traditional construction build-to-suits. Compass Datacenters was established in 2011 and is based in Dallas, Texas.

Buy -
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