M&A Deal Summary

L Catterton Partners Acquires Thorne HealthTech

On August 28, 2023, growth capital firm L Catterton Partners acquired information technology company Thorne HealthTech for 680M USD

Acquisition Highlights
  • This is L Catterton Partners’ 3rd transaction in the Information Technology sector.
  • This is L Catterton Partners’ 4th largest (disclosed) transaction.
  • This is L Catterton Partners’ 130th transaction in the United States.
  • This is L Catterton Partners’ 26th transaction in New York.

M&A Deal Summary
Date 2023-08-28
Target Thorne HealthTech
Sector Information Technology
Buyer(s) L Catterton Partners
Deal Type Going Private
Deal Value 680M USD
Advisor(s) CG Sawaya Partners (Financial)
Wilson Sonsini Goodrich & Rosati (Legal)

Target

Thorne HealthTech

New York, New York, United States
Thorne HealthTech is a wellness company that utilizes testing and data to create improved product efficacy and deliver personalized solutions to consumers, health professionals, and corporations. Thorne HealthTech was founded in 1984 and is based in New York City.

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Buyer(S) 1

Buyer

L Catterton Partners

Greenwich, Connecticut, United States

Investor Investor Investor Investor Investor

Category Growth Capital Firm
Founded 1989
PE ASSETS 30.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

L Catterton is a private equity firm that targets investments in consumer-related companies located throughout North America. L Catterton looks for businesses with identifiable brands and operating in 'defensible and extensible' positions within growth industry segments. Specific sectors of interest include branded consumables, food/beverages, consumer services, restaurants, media and marketing, household durables, specialty retail, mass merchant retail, and luxury/apparel. Prospective transactions include management buyouts, recapitalizations, turnarounds, and growth financings. L Catterton was formed in 1990 and is based in Greenwich, Connecticut.

DEAL STATS #
Overall 215 of 221
Sector (Information Technology) 3 of 3
Type (Going Private) 5 of 5
State (New York) 26 of 26
Country (United States) 130 of 133
Year (2023) 4 of 5
Size (of disclosed) 4 of 12
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-08-11 Better

New York, New York, United States

Better is a digital-first homeownership company that provides included mortgage, real estate, title, and homeowners insurance services. The company funded $30.9B in home loans and provided over $7B in cumulative coverage through Better Cover and Better Settlement Services, the insurance divisions of Better. Better was formed in 2016 and is based in New York city.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-09-12 Withmal

Tokyo, Japan

Withmal is a growing veterinary services group, that aims to be a trusted partner that pet parents across the country can rely on for their pets’ healthcare needs. It has built a strong team of vets by cultivating an environment where they can focus on treating pets, leveraging its best-in-class equipment and facilities, while leaving ancillary operational and administrative tasks to the group. Withmal was founded in 2018 and is based in Tokyo, Japan.

Buy -
Mergr

Product

Company

Legal