M&A Deal Summary

JLL Partners and Water Street Healthcare Partners Acquire Thread

On August 27, 2019, private equity firms JLL Partners and Water Street Healthcare Partners acquired information technology company Thread

Acquisition Highlights
  • This is JLL Partners’ 2nd and Water Street Healthcare Partners’ 2nd transaction in the Information Technology sector.
  • This is JLL Partners’ 31st and Water Street Healthcare Partners’ 39th transaction in the United States.
  • This is JLL Partners’ 4th and Water Street Healthcare Partners’ 4th transaction in North Carolina.

M&A Deal Summary
Date 2019-08-27
Target Thread
Sector Information Technology
Buyer(s) JLL Partners
Water Street Healthcare Partners
Deal Type Buyout (LBO, MBO, MBI)

Target

Thread

Cary, North Carolina, United States
Thread is a provider of technology that enables virtual research approaches to modernize clinical studies and registries. Thread is based in Cary, North Carolina.

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Buyer(S) 2

Buyer

JLL Partners

New York, New York, United States

Investor Investor Investor Investor

Category Private Equity Firm
Founded 1988
PE ASSETS 5.8B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

JLL Partners, Inc. is a private equity investment firm that invests alongside management in middle-market companies. JLL prefers control investments in sectors such as healthcare services, medical products, food and consumer products, chemicals, broadcasting, transportation, automotive, industrial manufacturing, and distribution. In addition to traditional buyout transaction, JLL also seeks distressed/turnaround situations. JLL Partners was formed in 1988 and is based in New York City.

DEAL STATS #
Overall 32 of 40
Sector (Information Technology) 2 of 4
Type (Buyout (LBO, MBO, MBI)) 8 of 9
State (North Carolina) 4 of 4
Country (United States) 31 of 38
Year (2019) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-11-28 Allucent

Cary, North Carolina, United States

Allucent is a provider of solutions that support life science organizations with advancing drug development. Allucent offers a range of services including regulatory strategy and submissions, project management, medical writing, biostatistics, data management, pharmacokinetics, pharmacovigilance, quality assurance, and trial management. Allucent was founded in 1988 and is based in Cary, North Carolina.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-09-09 Heads Up Technologies

Addison, Texas, United States

Heads Up Technologies designs, engineers and manufactures complex, proprietary cockpit, cabin, and aircraft electrical components and systems to the business and commercial aviation markets. Heads Up have established itself as a trusted partner in the business aviation segment through longstanding relationships with leading OEMs. Heads Up Technologies was founded in 1985 and is based in Addison, Texas.

Buy -
Buyer

Water Street Healthcare Partners

Chicago, Illinois, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2005
PE ASSETS 6.0B USD
Size Mega
Type Sector Focused
DESCRIPTION

Water Street is a specialist private equity firm that targets investments in healthcare companies. Specific areas of interest within healthcare include diagnostic devices, medical products, pharmaceutical services, specialty distribution, specialty pharmaceuticals, and specialty services. Water Street targets non-core units of larger corporations and private middle-market companies. Transactions are typically valued between $50 and $500 million. Water Street does not invest in biotechnology, traditional healthcare facilities (hospitals, nursing homes) or early-stage companies without positive cash flow. Water Street was formed in 2005 and is based in Chicago, Illinois.

DEAL STATS #
Overall 40 of 50
Sector (Information Technology) 2 of 3
Type (Buyout (LBO, MBO, MBI)) 8 of 9
State (North Carolina) 4 of 5
Country (United States) 39 of 47
Year (2019) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-02-27 Pathnostics

Irvine, California, United States

Pathnostics is a provider of diagnostic solutions. Pathnostics specializes in diagnostic tests and services across a range of therapeutic areas, including urology, women’s health, gastroenterology and cancer. Pathnostics was founded in 2014 and is based in Irvine, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-01-06 Liviniti

Natchitoches, Louisiana, United States

Liviniti is a customizable solutions that generate significant savings for its customers. Liviniti passes through 100 percent of drug pricing and rebates to its customers. It also offers a suite of services, including those focused on managing high-cost specialty medications and unique formulary strategies, which significantly reduce costs to both employers and their members without limiting access. Liviniti was founded in 2011 and is based in Natchitoches, Louisiana.

Buy -
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