M&A Deal Summary

Leonard Green & Partners Acquires Epiphany Dermatology

On February 1, 2022, private equity firm Leonard Green & Partners acquired healthcare services company Epiphany Dermatology from CI Capital Partners

Acquisition Highlights
  • This is Leonard Green & Partners’ 11th transaction in the Healthcare Services sector.
  • This is Leonard Green & Partners’ 91st transaction in the United States.
  • This is Leonard Green & Partners’ 15th transaction in Texas.

M&A Deal Summary
Date 2022-02-01
Target Epiphany Dermatology
Sector Healthcare Services
Buyer(s) Leonard Green & Partners
Sellers(s) CI Capital Partners
Deal Type Secondary Buyout
Advisor(s) Lincoln International (Financial)
Paul, Weiss, Rifkind, Wharton & Garrison (Legal)

Target

Epiphany Dermatology

Austin, Texas, United States
Epiphany Dermatology is a dermatology company, driven by a passion to improve access to high quality dermatologic care in a values-based manner. Epiphany raises the standard of dermatologic care by making clinical excellence accessible to all patients, promptly and in a warm and inviting environment. Epiphany Dermatology is headquartered in Austin, Texas.

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Buyer(S) 1

Buyer

Leonard Green & Partners

Los Angeles, California, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1989
PE ASSETS 75.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Leonard Green & Partners is a mega-sized private equity firm that invests in established companies that are leaders in their respective markets. Leonard Green will consider investments in consumer and business services, consumer products, distribution, media, and retail. Typical transaction values for acquisitions are between $500 million and $2 billion, however, the firm is capable of closing transactions valued up to $5 billion. Types of transactions include public-to-private, recapitalizations of privately held businesses, growth capital, equity capital to facilitate acquisitions, turnarounds/restructurings, and acquisitions of divisions/assets from large corporations. Leonard Green & Partners was formed in 1989 and is based in Los Angeles, California.

DEAL STATS #
Overall 96 of 102
Sector (Healthcare Services) 11 of 11
Type (Secondary Buyout) 43 of 47
State (Texas) 15 of 16
Country (United States) 91 of 94
Year (2022) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-01-11 Pace

Minneapolis, Minnesota, United States

Pace is a provider of analytical testing and related outsourced scientific solutions to the life sciences industry. Pace's Analytical Services division provides full-service testing, sampling, and analytical support services to detect trace-level organic and inorganic contaminants in air, water, wastewater, soil, biota, and waste. Pace's Life Sciences division provides a wide variety of testing services for the biopharmaceutical, pharmaceutical, medical device, and drug-device industries as well as early-stage drug development and manufacturing services with a broad range of pre-clinical and clinical capabilities for both small and large molecules. Pace was formed in 1978 and is based in Minneapolis, Minnesota.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-01-01 IMA Group

Ozzano dell'Emilia, Italy

IMA Group is a designer and manufacturer of automatic machines for the processing and packaging of pharmaceuticals, cosmetics, food, tea, and coffee. IMA Group was founded in 1961 and is based in Ozzano dell'Emilia, Italy.

Buy -

Seller(S) 1

SELLER

CI Capital Partners

New York, New York, United States

Investor Investor

Category Private Equity Firm
Founded 1993
Size Large
Type Sector Agnostic
DESCRIPTION

CI Capital Partners is a private equity investment firm specializing in leveraged buyouts of middle-market companies. CI Capital primarily targets investments in North America and looks to invest between $10 and $150 million of equity capital per transaction. The Firm concentrates on acquiring companies in stable industries with consolidation potential. CI has a particular interest in business services, consumer services, distribution, transportation, and healthcare Services. CI Capital Partners was founded in 1993 and is based in New York City.

DEAL STATS #
Overall 26 of 27
Sector (Healthcare Services) 2 of 2
Type (Secondary Buyout) 13 of 14
State (Texas) 2 of 2
Country (United States) 23 of 24
Year (2022) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-12-14 Redwood Logistics

Chicago, Illinois, United States

Redwood Logistics is a logistics platform company that provides solutions for moving and managing freight for more than 20 years. The company’s diverse portfolio includes digital freight brokerage, flexible freight management, and logistics consulting all wrapped into a revolutionary logistics and technology delivery model—Logistics Platform as a Service (LPaaS). LPaaS utilizes an open platform for digital planning that empowers shippers to seamlessly mix-and-match partners, technologies and solutions into their own unique digital supply chain fingerprint. Redwood connects a wide range of customers to the power of supply chain management, technology and the industry’s brightest minds. Redwood Logistics was formed in 2001 and is based in Chicago, Illinois.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-03-07 PRA

Chicago, Illinois, United States

PRA is a destination management company that supports its clients’ off-site business events such as corporate meetings, incentive travel programs, and conferences by providing activity and transportation solutions and other destination support services. PRA provides a critical link between event planners and the local markets where business events take place. PRA was founded in 1981 and is based in Chicago, Illinois.

Sell -
Mergr

Product

Company

Legal