Secondary Buyout • Healthcare Services

Fremont Private Holdings Acquires Porthaven Care Homes

On November 8, 2017, family office Fremont Private Holdings acquired healthcare services company Porthaven Care Homes from Phoenix Equity Partners

Acquisition Context
  • This is Fremont Private Holdings’ 1st transaction in the Healthcare Services sector.
  • This is Fremont Private Holdings’ 1st transaction in the United Kingdom.

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M&A Deal Summary

Date November 8, 2017
Target Porthaven Care Homes
Sector Healthcare Services
Buyer(s) Fremont Private Holdings
Sellers(s) Phoenix Equity Partners
Deal Type Secondary Buyout
Advisor(s) KPMG Corporate Finance
Grant Thornton Transaction Advisory (Financial)
Pinsent Masons (Legal)

Target Company

Porthaven Care Homes

Windsor, United Kingdom
Porthaven Care Homes is a developer and operator of purpose-built premium quality care homes for the frail elderly and those living with dementia, focusing predominantly on the self-pay market. Porthaven Care Homes was founded in 2010 and is based in Windsor, United Kingdom.
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Buyer Overview 1

DESCRIPTION

Fremont Private Holdings is the direct private investment arm of family office Fremont, which represents the Bechtel family. Fremont Private Holdings looks to make platform investments of $30 to $100 million in growing family and founder-owned operating businesses generating $15 million to $50 million in EBITDA. Sectors of interest include industrials, manufacturing, business services, consumer, and retail. Fremont will consider majority or minority positions and generally pursues companies exhibiting defensible market positions, experienced management in place, and consistent profitability. Fremont Private Holdings is based in New York City.


Deal Context for Buyer #
Overall 6 of 7
Sector: Healthcare Services 1 of 1
Type: Secondary Buyout 1 of 1
Country: United Kingdom 1 of 1
Year: 2017 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-12-01 Flynn Group of Companies

Mississauga, Ontario, Canada

Flynn Group of Companies offers commercial roofing contracting to provide a range of architectural products and roofing services, including metal paneling, contract glazing, and curtain wall. Flynn Group of Companies was founded in 1978 and is based in Mississauga, Ontario.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-12-16 In-Shape

Stockton, California, United States

In-Shape owns and operates health club companies with a vision for helping people stay healthy and have fun. In-Shape was founded in 1981 and is based in Stockton, California.

Sell -

Seller Profile 1

SELLER

Phoenix Equity Partners

London, United Kingdom

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2001
PE ASSETS 1.5B GBP
Size Large
Type Sector Agnostic
DESCRIPTION

Phoenix Equity Partners is a mid-market private equity firm that funds management buyouts and buy-ins, and provides expansion capital for UK-based companies. Phoenix looks for opportunities valued up to £200 million. Target sectors include consumer, leisure, retail, financial services, healthcare, education, media, transportation/logistics, and business services. Phoenix Equity Partners was formed in 2001 and is based in London.


Deal Context for Seller #
Overall 32 of 45
Sector: Healthcare Services 2 of 2
Type: Secondary Buyout 17 of 22
Country: United Kingdom 30 of 43
Year: 2017 5 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-10-19 Musto

London, United Kingdom

Musto Ltd. is a provider of specialist technical sports clothing to the sailing, equestrian, and shooting markets. Musto was established in 1971 and is based in London, United Kingdom.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-12-13 Riviera Travel

Burton-on-Trent, United Kingdom

Riviera Travel is an operator of escorted tours with a focus on the over 55s market. The Company provides European tour holidays, river and ocean cruises, city breaks, and long-haul tours with varied itineraries combining leisure with education and entertainment. Riviera Travel was founded in 1984 and is based in Burton-on-Trent, United Kingdom.

Sell -