M&A Deal Summary

H.I.G. Private Equity Acquires Wellpath

On October 1, 2018, private equity firm H.I.G. Private Equity acquired healthcare services company Wellpath from Audax Private Equity

Acquisition Highlights
  • This is H.I.G. Private Equity’s 20th transaction in the Healthcare Services sector.
  • This is H.I.G. Private Equity’s 159th transaction in the United States.
  • This is H.I.G. Private Equity’s 6th transaction in Tennessee.

M&A Deal Summary
Date 2018-10-01
Target Wellpath
Sector Healthcare Services
Buyer(s) H.I.G. Private Equity
Sellers(s) Audax Private Equity
Deal Type Secondary Buyout

Target

Wellpath

Nashville, Tennessee, United States
Wellpath is a provider of outsourced correctional and behavioral healthcare services to jail, prison and other behavioral care facilities. Born out of the joining of two great companies, Correct Care Solutions and Correctional Medical Group Companies, Wellpath has over 35 years of experience providing high-quality medical and behavioral care to often overlooked patient populations in challenging clinical environments. Wellpath provides localized, high-quality, compassionate healthcare to nearly 300,000 patients daily in more than 550 health clinics and hospitals. Wellpath was founded in 2005 and is based in Nashville, Tennessee.

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Buyer(S) 1

Buyer

H.I.G. Private Equity

Miami, Florida, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1993
PE ASSETS 65.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

HIG Private Equity is the private equity arm of HIG Capital LLC. The firm focuses on management buyouts, growth equity investments, and recapitalizations of middle market companies with an enterprise value of $50 - $1000 million. The Firm also will consider add-on acquisitions, industry consolidations, going-privates, and corporate divestitures. Sectors of interest include aerospace, building materials, business services, consumer products, distribution, healthcare, infrastructure, contracting, manufacturing, media, oil & gas services, IT, and transportation. HIG was formed in 1993 and has offices in Miami, Atlanta, Boston, and San Francisco. HIG's European affiliate is HIG Europe with offices in London, Hamburg, and Paris.

DEAL STATS #
Overall 234 of 370
Sector (Healthcare Services) 20 of 27
Type (Secondary Buyout) 31 of 68
State (Tennessee) 6 of 7
Country (United States) 159 of 246
Year (2018) 17 of 21
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-10-01 TestAmerica Environmental Services

North Canton, Ohio, United States

TestAmerica Environmental Services LLC is the largest provider of outsourced laboratory testing services in several of the most attractive niche segments within the $10 billion non-clinical outsourced laboratory testing services market. Company headquartered in Asheville, North Carolina.

Sell $175M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-10-03 Tecfil

Guarulhos, Brazil

Tecfil is a Brazilian automotive filter producer. The Company focuses on the aftermarket segment while also supplying the top automakers in Brazil. The Company sells over 3,000 SKUs under its 2 brands in nearly 30 countries. Tecfil was founded in 1953 and is based in Guarulhos, Sao Paulo.

Buy -

Seller(S) 1

SELLER

Audax Private Equity

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1999
PE ASSETS 19.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Audax Private Equity is a private equity firm focused on acquiring control positions in a variety of mid to large North American headquartered companies. The Firm segments its activities into lower middle-market and larger scale investing. Within its larger group, Audax targets profitable businesses valued up to $800 million and within its lower middle-market group, the Firm seeks companies valued up to $125 million. Sectors of interest include business services, consumer products/services, financial services, healthcare services, industrial services, software, and technology. Audax has a special interest in businesses that can benefit from a buy and build investment strategy for growth. Audax Private Equity was formed in 1999 and is based in Boston, Massachusetts.

DEAL STATS #
Overall 64 of 102
Sector (Healthcare Services) 5 of 11
Type (Secondary Buyout) 34 of 55
State (Tennessee) 2 of 3
Country (United States) 62 of 97
Year (2018) 6 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-09-24 Acuant

Los Angeles, California, United States

Acuant is a provider of identity verification solutions including a digital identity orchestration layer, ID document, and chip authentication, bio-metric, and data capture solutions. Acuant was founded in 1999 and is based in Los Angeles, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-10-26 Andrews International

Valencia, California, United States

Andrews International is a provider of private security and risk mitigation services to the entertainment, high-end retail, financial services, commercial property management, and education verticals.

Sell -
Mergr

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