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M&A Deal Summary

LifeSpeak Acquires Wellbeats

On February 14, 2022, LifeSpeak acquired internet software and services company Wellbeats from LFE Capital for 93M USD

Acquisition Highlights
  • This is LifeSpeak’s 3rd transaction in the Internet Software and Services sector.
  • This is LifeSpeak’s largest (disclosed) transaction.
  • This is LifeSpeak’s 2nd transaction in the United States.
  • This is LifeSpeak’s 1st transaction in Minnesota.

M&A Deal Summary
Date 2022-02-14
Target Wellbeats
Sector Internet Software and Services
Buyer(s) LifeSpeak
Sellers(s) LFE Capital
Deal Type Add-on Acquisition
Deal Value 93M USD
Advisor(s) Stifel (Financial)
Lathrop & Gage LLP (Legal)

Target

Wellbeats

Minnepolis, Minnesota, United States
Wellbeats is a provider of on-demand, virtual wellness content, and programming for use in corporate wellbeing initiatives. With more than 1,000 fitness, nutrition, and mindfulness classes and programs available anytime and anywhere, Wellbeats allows employers to support employees with wellness resources that fit their needs, lifestyle, and schedule. Wellbeats provides best-in-class content that appeals to people of all ages, interests, and ability levels. Wellbeats content is easily accessible through apps for iOS, Android, Windows, and Apple T.V.; any modern Web browser, Chromecast, Airplay, and Roku. Wellbeats was founded in 2008 and is based in Minneapolis, Minnesota.

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Buyer(S) 1

Buyer

LifeSpeak

Toronto, Ontario, Canada
Category Company
Founded 2004
Sector Internet Software and Services
Employees38
Revenue 52M CAD (2023)
DESCRIPTION

LifeSpeak is a software-as-a-service provider of a platform for mental health and total wellbeing education for organizations committed to taking care of their employees and customers. LifeSpeak was founded in 2004 and is based in Toronto, Ontario.

DEAL STATS #
Overall 3 of 3
Sector (Internet Software and Services) 3 of 3
Type (Add-on Acquisition) 3 of 3
State (Minnesota) 1 of 1
Country (United States) 2 of 2
Year (2022) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-12-13 Torchlight

Burlington, Massachusetts, United States

Torchlight digital-first caregiver support platform for employers, health plans, and other member organizations. Torchlight empowers organizations with the tools and one-to-one expertise to help more than 53 million caregivers across the U.S. Unlike traditional call centers and coaching models, Torchlight eliminates the ‘middleman’ by providing caregivers with direct access to top specialists and expertise in a scalable, cost-effective way. Torchlight is based in Burlington, Massachusetts.

Buy -

Seller(S) 1

SELLER

LFE Capital

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1999
Size Small
Type Sector Agnostic
DESCRIPTION

LFE Capital is a private equity firm that provides junior and buyout capital to middle-market companies located in the upper Midwest US. Sectors of interest include consumer products and services, health related products and services, and business services. LFE prefers established or emerging businesses with at least $2 million of annual revenue and $1 million of cash-flow. LFE has a special interest in businesses that are owned or led by women and businesses that target female consumers. The Firm will consider both control and minority positions. LFE Capital was formed in 1999 and is based in Naples, Florida.

DEAL STATS #
Overall 9 of 9
Sector (Internet Software and Services) 1 of 1
Type (Add-on Acquisition) 7 of 7
State (Minnesota) 4 of 4
Country (United States) 9 of 9
Year (2022) 1 of 1
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-01-05 Avant Healthcare Professionals

Winter Park, Florida, United States

Avant Healthcare Professionals LLC is a provider of foreign trained nurses and physical therapists on contract assignments with U.S. hospitals. Avant Healthcare Professionals LLC was established in 2003 and is based in Winter Park , Florida.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-05-01 BedJet

Newport, Rhode Island, United States

BedJet is, at its heart, a sleep technology company. BedJet mission is to apply bleeding-edge engineering design, technology, and proven medical science into improving the sleep and bedroom comfort experience. BedJet is based in Newport, Rhode Island.

Buy -
Mergr

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