M&A Deal Summary

Leonard Green & Partners, Sixth Street Partners and Wildcat Capital Management Acquire Milan Laser

On January 1, 2019, private equity firm Leonard Green & Partners, asset manager Sixth Street Partners and family office Wildcat Capital Management acquired consumer services company Milan Laser

Acquisition Highlights
  • This is Leonard Green & Partners’ 5th, Sixth Street Partners’ 1st and Wildcat Capital Management’s 1st transaction in the Consumer Services sector.
  • This is Leonard Green & Partners’ 72nd, Sixth Street Partners’ 5th and Wildcat Capital Management’s 1st transaction in the United States.
  • This is Leonard Green & Partners’ 2nd, Sixth Street Partners’ 1st and Wildcat Capital Management’s 1st transaction in Nebraska.

M&A Deal Summary
Date 2019-01-01
Target Milan Laser
Sector Consumer Services
Buyer(s) Leonard Green & Partners
Sixth Street Partners
Wildcat Capital Management
Deal Type Buyout (LBO, MBO, MBI)

Target

Milan Laser

Omaha, Nebraska, United States
Milan Laser is an operator of laser hair removal services with company-owned clinics operating across the US. Milan Laser offers unlimited treatment services for clients looking for painless and permanent hair removal. Milan Laser is based in Omaha, Nebraska.

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Buyer(S) 3

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 77 of 102
Sector (Consumer Services) 5 of 5
Type (Buyout (LBO, MBO, MBI)) 10 of 12
State (Nebraska) 2 of 2
Country (United States) 72 of 94
Year (2019) 1 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-10-29 Tecta America

Rosemont, Illinois, United States

Tecta America is a provider of commercial roofing services offering installation, replacement, and repair services. It services both local and national accounts across a spectrum of industries and end-markets including industrial, retail / office, non-government institutional, government, multi-family and other. Tecta America was founded in 2000 and is based in Rosemont, Illinois.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-02-13 US Renal Care

Plano, Texas, United States

US Renal Care is a provider of outpatient treatment centers for persons suffering from chronic and acute renal disease. The company serves more than 25,000 patients in 335 dialysis facilities in 32 states and the Territory of Guam. US Renal Care was founded in 2000 and is based in Plano, Texas.

Sell -
Buyer

Sixth Street Partners

Category Asset Manager
Founded 2009
PE ASSETS 65.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Sixth Street is a global alternative asset manager and lender that offers a wide range of capital solutions to small, medium, and large companies. The Firm maintains a variety of investment vehicles focused on growth companies, infrastructure, insurance, agriculture as well as other strategies. Sixth Street was established in 2009 and is headquartered in San Francisco, California.

DEAL STATS #
Overall 5 of 26
Sector (Consumer Services) 1 of 1
Type (Buyout (LBO, MBO, MBI)) 2 of 5
State (Nebraska) 1 of 1
Country (United States) 5 of 23
Year (2019) 1 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-12-24 MindBody

San Luis Obispo, California, United States

MindBody is a technology platform for the fitness, beauty and wellness services industries. Local entrepreneurs worldwide use MINDBODY’s integrated software and payments platform to run, market and build their businesses. Consumers use MINDBODY to more easily find, engage and transact with fitness, wellness and beauty providers in their local communities. MindBody was formed in 2001 and is based in San Luis Obispo, California.

Buy $1.9B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-01-22 Keyfactor

Independence, Ohio, United States

Keyfactor is a provider of secure digital identity management solutions that enable organizations to confirm the authenticity and ensure the right things are interacting in the right ways in our connected world. Keyfactor was founded in 2001 and is based in Independence, Ohio.

Buy -
Buyer

Wildcat Capital Management

Investor Investor Investor

Category Family Office
Founded 2011
PE ASSETS 4.5B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Wildcat Capital Management is a family office focused on managing the assets and interests of David Bonderman, founding member of private equity firm TPG Capital. The Firm is based in New York City.

DEAL STATS #
Overall 1 of 3
Sector (Consumer Services) 1 of 1
Type (Buyout (LBO, MBO, MBI)) 1 of 1
State (Nebraska) 1 of 1
Country (United States) 1 of 3
Year (2019) 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-01-18 Express Wash Concepts

Etna, Ohio, United States

Express Wash Concepts offer fast, quality, and environmentally friendly express tunnel wash experiences and free vacuums. The company's popular Unlimited Wash Club packages offer members the convenience and value of contactless payment and unlimited washing at any location. Express Wash Concepts is based in Etna, Ohio.

Buy -
Mergr

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