M&A Deal Summary

Leonard Green & Partners Acquires Stepping Stones Group

On December 1, 2021, private equity firm Leonard Green & Partners acquired healthcare services company Stepping Stones Group from Five Arrows

Acquisition Highlights
  • This is Leonard Green & Partners’ 9th transaction in the Healthcare Services sector.
  • This is Leonard Green & Partners’ 87th transaction in the United States.
  • This is Leonard Green & Partners’ 2nd transaction in Colorado.

M&A Deal Summary

Date 2021-12-01
Target Stepping Stones Group
Sector Healthcare Services
Buyer(s) Leonard Green & Partners
Sellers(s) Five Arrows
Deal Type Secondary Buyout

Target

Stepping Stones Group

Lafayette, Colorado, United States
Stepping Stones Group is a provider of therapeutic behavioral health services to a variety of public school districts and private learning centers. Stepping Stones Group is based in Lafayette, Colorado.

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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 92 of 102
Sector (Healthcare Services) 9 of 11
Type (Secondary Buyout) 41 of 47
State (Colorado) 2 of 3
Country (United States) 87 of 94
Year (2021) 6 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-11-30 Velvet Taco

Plano, Texas, United States

Velvet Taco is a restaurant concept set out to elevate through globally-inspired recipes and the freshest ingredients. Velvet Taco was founded in 2011 and is based in Plano, Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-12-16 Convergint

Schaumburg, Illinois, United States

Convergint is a designer, installer, and services integrated building systems including electronic security, fire alarm, and life safety systems. Convergint was founded in 2001 and is based in Schaumburg, Illinois.

Buy -

Seller(S) 1

SELLER

Five Arrows

Paris, France

Investor Investor Investor Investor Investor


Category Private Equity Firm
PE ASSETS 24.0B EUR
Size Mega
Type Sector Agnostic
DESCRIPTION

Five Arrows Principal Investments is a mid-cap investor in Western European companies. Five Arrows can invest across the capital structure (equity, equity-linked, mezzanine, convertible debt) and generally focused on primary or secondary buyouts, growth financings, and balance sheet restructurings. The Group does not have any sector preferences, but typically looks for businesses with high barriers to entry and predictable earnings. Five Arrows can commit €30 to €400 million per investment. Five Arrows is a unit of Rothschild Bank. The Group has offices in Paris, Luxembourg, and London.


DEAL STATS #
Overall 21 of 27
Sector (Healthcare Services) 2 of 2
Type (Secondary Buyout) 14 of 17
State (Colorado) 1 of 1
Country (United States) 1 of 2
Year (2021) 6 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-06-29 Sygnature Discovery

Nottingham, United Kingdom

Sygnature Discovery is a provider of outsourced drug discovery services to the UK and overseas biotech and pharma companies. Sygnature provides integrated drug discovery and preclinical services to clients across eight key therapeutic areas, including oncology, neuroscience, and inflammation & immunology, and has an outstanding track record of scientific excellence. Sygnature Discovery was founded in 2004 and is based in Nottingham, United Kingdom.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-12-15 KidsKonnect

Haarlem, Netherlands

KidsKonnect is a childcare software provider that offers solutions for daycare centres, out-of-school care, childminder organizations and primary education centers. KidsKonnect serves more than one million children in the Netherlands and Belgium via its integrated platform. KidsKonnect was founded in 1991 and is based in Haarlem, Netherlands.

Buy -