M&A Deal Summary

Linden Capital Partners and Twin Brook Capital Partners Acquire Aptitude Health

On April 26, 2021, private equity firm Linden Capital Partners and mezzanine finance firm Twin Brook Capital Partners acquired healthcare services company Aptitude Health

Acquisition Highlights
  • This is Linden Capital Partners’ 12th and Twin Brook Capital Partners’ 5th transaction in the Healthcare Services sector.
  • This is Linden Capital Partners’ 39th and Twin Brook Capital Partners’ 16th transaction in the United States.
  • This is Linden Capital Partners’ 1st and Twin Brook Capital Partners’ 1st transaction in Georgia.

M&A Deal Summary
Date 2021-04-26
Target Aptitude Health
Sector Healthcare Services
Buyer(s) Linden Capital Partners
Twin Brook Capital Partners
Deal Type Buyout (LBO, MBO, MBI)
Advisor(s) William Blair (Financial)

Target

Aptitude Health

Atlanta, Georgia, United States
Aptitude Health provides market insights and strategic solutions that help translate clinical development into commercial success and life-changing cancer treatments through its proprietary network of community physicians, key opinion leaders, and market access experts. The Company services various life science companies, including the top pharma companies, and brand teams. Aptitude Health was founded in 2004 and is based in Atlanta, Georgia.

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Buyer(S) 2

Buyer

Linden Capital Partners

Chicago, Illinois, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2004
PE ASSETS 3.0B USD
Size Large
Type Sector Focused
DESCRIPTION

Linden LLC is a private equity firm that invests in businesses involved in the healthcare and life science sectors. However, the firm also executes any size private equity transaction between $10 million to $2 billion through the firm's alliance with Madison Dearborn Partners. Linden is not a venture capital investor. The firm specializes in investments in non-core businesses owned by large corporations, as well as traditional management buyouts of independent companies. Linden LLC was formed in 2004 and is based in Chicago, Illinois.

DEAL STATS #
Overall 39 of 48
Sector (Healthcare Services) 12 of 13
Type (Buyout (LBO, MBO, MBI)) 12 of 13
State (Georgia) 1 of 2
Country (United States) 39 of 47
Year (2021) 2 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-01-12 Statlab Medical Products

McKinney, Texas, United States

Statlab Medical Products is a developer and manufacturer of cost-effective histology, cytology, and immunohistochemistry diagnostic supplies. StatLab offers 1,750 of the most commonly purchased diagnostic supplies used by independent and hospital-based anatomic pathology laboratories. Statlab Medical Products was founded in 1976 and is based in McKinney, Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-05-05 The Beauty Health Company

Long Beach, California, United States

The Beauty Health Company is a consumer products beauty company. Products include HydraFacial, a manufacturer of non-invasive equipment and consumables used in aesthetic skin health treatments. The Beauty Health Company was founded in 1997 and is based in Long Beach, California.

Sell -
Buyer

Twin Brook Capital Partners

Investor Investor Investor Investor Investor

Category Mezzanine Finance Firm
Founded 2014
PE ASSETS 22.3B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Twin Brook Capital Partners is a provider of senior financing to small and mid-sized profitable companies. The Firm looks to offer a variety of credit and equity solutions including revolvers, senior loans, unitranche loans, mezzanine financing, and equity co-investment to US-based companies with $3 to $50 million in EBITDA. Target sectors include industrial, manufacturing, business services, financial services, insurance, aerospace/defense, distribution, healthcare, and software/tech enabled services. Twin Brook Capital Partners is based in Chicago, Illinois.

DEAL STATS #
Overall 17 of 25
Sector (Healthcare Services) 5 of 6
Type (Buyout (LBO, MBO, MBI)) 3 of 5
State (Georgia) 1 of 2
Country (United States) 16 of 24
Year (2021) 3 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-04-14 Canadian Orthodontic Partners

Etobicoke, Ontario, Canada

Canadian Orthodontic Partners is the largest specialty dental services organization providing management services to orthodontic practices throughout Canada, supporting locations in five provinces, from coast to coast. The Company’s partner practices provide excellent clinical care and an elevated patient experience. Canadian Orthodontic Partners is based in Etobicoke, Ontario.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-05-18 SimiTree Healthcare Consulting

Hamden, Connecticut, United States

SimiTree Healthcare Consulting offers a suite of services, including outsourced billing, coding and revenue cycle management; executive recruiting, interim staffing and other talent solutions; guidance through mergers and acquisitions; sales consulting and education; and data analytics. SimiTree Healthcare Consulting is based in Hamden, Connecticut.

Buy -
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