M&A Deal Summary

Gryphon Investors Acquires PRN

On December 17, 2020, private equity firm Gryphon Investors acquired healthcare services company PRN from Silver Oak Services Partners

Acquisition Highlights
  • This is Gryphon Investors’ 7th transaction in the Healthcare Services sector.
  • This is Gryphon Investors’ 57th transaction in the United States.
  • This is Gryphon Investors’ 14th transaction in California.

M&A Deal Summary

Date 2020-12-17
Target PRN
Sector Healthcare Services
Buyer(s) Gryphon Investors
Sellers(s) Silver Oak Services Partners
Deal Type Secondary Buyout
Advisor(s) Houlihan Lokey (Financial)
Waller
Kirkland & Ellis (Legal)

Target

PRN

Carlsbad, California, United States
PRN is an operator of physical therapy clinic platform in the western U.S. PRN PT Clinics provide a variety of outpatient rehabilitation services, including physical therapy, occupational therapy, hand therapy, and other ancillary services. PRN was founded in 1991 and is based in Carlsbad, California.

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Buyer(S) 1

Buyer

Gryphon Investors

San Francisco, California, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1995
PE ASSETS 9.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Gryphon Investors is a private equity firm focused on making $50 to $500 million of equity or equity-linked investments in middle-market companies. Target transaction situations include traditional buyouts, leveraged build-ups, and growth financings. Gryphon will consider both control and shared-control positions. Sectors of interest include business services, consumer, retail, automotive, chemicals, general manufacturing, healthcare, and hotels. Gryphon Investors was formed in 1995 and is based in San Francisco, California.


DEAL STATS #
Overall 57 of 75
Sector (Healthcare Services) 7 of 9
Type (Secondary Buyout) 17 of 25
State (California) 14 of 19
Country (United States) 57 of 74
Year (2020) 7 of 9
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-12-01 Matrixx Initiatives

Bridgewater, New Jersey, United States

Matrixx Initiatives, Inc. manufactures and markets Zicam® brand OTC products, including its clinically proven ZICAM® Cold Remedy Nasal Spray and Swab, ZICAM® Cold Remedy RAPIDMELTS®, ZICAM® Cold Remedy Medicated Fruit Drops, ZICAM® Extreme Congestion Relief, and ZICAM® Intense Sinus Relief. Matrixx Initiatives is based in Bridgewater, New Jersey.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-12-22 Meazure Learning

McLean, Virginia, United States

Meazure Learning is a remote exam proctoring company, also offering a full suite of assessment products and services, including proprietary exam development and delivery software as well as reporting and psychometric services, to the academic and professional testing markets. Meazure Learning is based in McLean, Virginia.

Buy -

Seller(S) 1

SELLER

Silver Oak Services Partners

Evanston, Illinois, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2005
Size Small
Type Sector Focused
DESCRIPTION

Silver Oak Services Partners, LLC is a private equity firm focused on service businesses, specifically business services, healthcare services, and consumer services. The Firm targets companies with revenues between $15 and $150 million and EBITDA of $4 to $25 million. The Firm's typical investment size is $10 to $50 million with the ability to invest more through co-investment from the firm's limited partners. The company will not consider investments in start-ups, businesses with project-based revenue models, retail, or restaurants. Silver Oak Services Partners was formed in 1995 and is based in Evanston, Illinois.


DEAL STATS #
Overall 20 of 24
Sector (Healthcare Services) 4 of 5
Type (Secondary Buyout) 8 of 9
State (California) 1 of 2
Country (United States) 20 of 24
Year (2020) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-02-01 DASCO

Westerville, Ohio, United States

DASCO is a distributor of home medical equipment, primarily focusing on respiratory and sleep equipment. DASCO offers a diverse suite of home medical equipment, including oxygen, sleep equipment, ventilators, and orthotics. DASCO was founded in 1987 and is based in Westerville, Ohio.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-01-12 BBG

Dallas, Texas, United States

BBG is a provider of commercial real estate appraisals, appraisal management services, environmental and property assessments, and related advisory services. BBG was founded in 1992 and is based in Dallas, Texas.

Sell -