M&A Deal Summary

Harvest Partners Acquires Advanced Dermatology and Cosmetic Surgery

On May 18, 2016, private equity firm Harvest Partners acquired healthcare services company Advanced Dermatology and Cosmetic Surgery from Audax Private Equity

Acquisition Highlights
  • This is Harvest Partners’ 6th transaction in the Healthcare Services sector.
  • This is Harvest Partners’ 33rd transaction in the United States.
  • This is Harvest Partners’ 3rd transaction in Florida.

M&A Deal Summary

Date 2016-05-18
Target Advanced Dermatology and Cosmetic Surgery
Sector Healthcare Services
Buyer(s) Harvest Partners
Sellers(s) Audax Private Equity
Deal Type Recapitalization
Advisor(s) Jefferies (Financial)
Ropes & Gray (Legal)

Target

Advanced Dermatology and Cosmetic Surgery

Maitland, Florida, United States
Advanced Dermatology and Cosmetic Surgery is a dermatology-focused physician practice management company, with clinics around the United States which provide clinical, cosmetic, and pathology services. Advanced Dermatology and Cosmetic Surgery was founded in 1989 and is based in Maitland, Florida.

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Buyer(S) 1

Buyer

Harvest Partners

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1981
PE ASSETS 5.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Harvest Partners is a Investment firm provides Private Equity and Structured Capital focused on buyout, growth capital, minority position, and non-control investments in middle-market public and private companies. Harvest Partners looks to invest in profitable ($30 to $300 million of EBITDA). Sectors of interest include business services, consumer services, healthcare, industrial services, manufacturing, marketing, building products and distribution companies valued between $100 and $1000 million. The Firm prefers opportunities headquartered in North America. Harvest Partners was formed in 1981 and is based in New York City.


DEAL STATS #
Overall 37 of 71
Sector: Healthcare Services M&A 6 of 7
Type: Recapitalization M&A Deals 6 of 11
State: Florida M&A 3 of 7
Country: United States M&A 33 of 67
Year: 2016 M&A 1 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-11-17 AxelaCare Health Solutions

Lenexa, Kansas, United States

AxelaCare Health Solutions LLC is a full-service home infusion therapy provider. Therapies provided range from immune globulin (IG) therapy to antibiotics and nutrition therapy for patients across the United States.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-05-24 PDI Technologies

Alpharetta, Georgia, United States

PDI Technologies is a provider of enterprise-class retail automation software to convenience store retailers and wholesale petroleum marketers. PDI develops, sells and supports a software solution for managing back-office and day-to-day management processes such as accounting, product pricing, inventory, fuel purchasing, card processing and employee scheduling for retail convenience store and wholesale fuel businesses. PDI Technologies was founded in 1983 and is based in Alpharetta, Georgia.

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 47 of 109
Sector: Healthcare Services M&A 3 of 12
Type: Recapitalization M&A Deals 2 of 4
State: Florida M&A 3 of 7
Country: United States M&A 45 of 103
Year: 2016 M&A 4 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-04-14 HALO

Sterling, Illinois, United States

HALO is a marketing services platform that distributes promotional products and provides employee recognition services. HALO was founded in 1952 and is headquartered in Sterling, Illinois.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-06-22 Integrated Supply Network

Lakeland, Florida, United States

Integrated Supply Network is a supplier and distributor that sells automotive tools, equipment, and related supplies through an extensive distribution network to automotive mechanics and technicians. ISN offers manufacturers and customers an international network of warehouses and a broad array of products, backed by customer service leadership, innovative use of technology, and multi-step pull-through marketing capabilities. ISN was founded in 1997 and is based in Lakeland, Florida.

Sell -