M&A Deal Summary

Olympus Partners and MoonSail Capital Acquire EyeSouth Partners

On September 30, 2022, private equity firms Olympus Partners and MoonSail Capital acquired healthcare services company EyeSouth Partners from Shore Capital Partners

Acquisition Highlights
  • This is Olympus Partners’ 2nd and MoonSail Capital’s 3rd transaction in the Healthcare Services sector.
  • This is Olympus Partners’ 49th and MoonSail Capital’s 4th transaction in the United States.
  • This is Olympus Partners’ 4th and MoonSail Capital’s 1st transaction in Georgia.

M&A Deal Summary
Date 2022-09-30
Target EyeSouth Partners
Sector Healthcare Services
Buyer(s) Olympus Partners
MoonSail Capital
Sellers(s) Shore Capital Partners
Deal Type Secondary Buyout
Advisor(s) Jefferies (Financial)
Winston & Strawn
Bass, Berry & Sims (Legal)

Target

EyeSouth Partners

Atlanta, Georgia, United States
EyeSouth Partners is an eye care physician services organization committed to partnering with leading physicians to build a premier network of eye care services in Georgia and the Southeast. EyeSouth’s partner practices’ clinical mission is to provide high-quality medical and surgical specialty eye care. The organization supports its affiliated practices and physician partners with capital, administrative resources, operating expertise, and strategic guidance with an absolute focus on clinical quality and a patient-first culture. EyeSouth Partners was founded in 2017 and is based in Atlanta, Georgia.

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Buyer(S) 2

Buyer

Olympus Partners

Stamford, Connecticut, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1988
PE ASSETS 8.4B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Olympus Partners is a private equity group focused on investing in growth companies with strong management, and positions in their respective markets. The Firm will consider both venture capital and private equity investments and looks to commit $50 to $300 million per transaction. The Firm focuses its investment activities within the business services, healthcare, financial services, consumer, restaurant, software/IT services, and logistics/transportation industries. Olympus Partners was formed in 1988 and is based in Stamford Connecticut.

DEAL STATS #
Overall 51 of 53
Sector (Healthcare Services) 2 of 2
Type (Secondary Buyout) 27 of 29
State (Georgia) 4 of 4
Country (United States) 49 of 51
Year (2022) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-09-13 siffron

Twinsburg, Ohio, United States

siffron is a provider of point-of-purchase merchandising and display solutions for retail applications. The Company sells the industry's broadest range of merchandising systems and accessories including shelf management systems, shelf-edge label holders, sign holders, hang tabs, hooks, fasteners, banner hangers, literature holders, and acrylic displays. siffron was founded in 1962 and is based in Twinsburg, Ohio.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-11-01 Liquibox

Richmond, Virginia, United States

Liquibox is a supplier of bag-in-box flexible packaging to the global dairy, beverage, and bulk food markets. Bag-in-box packaging is primarily used in the food service industry to package dairy mix for milkshakes and coffee drinks, fountain beverage syrup, and pumpable liquid foods such as food concentrates and sauces. Liquibox was formed in 1961 and is based in Richmond, Virginia.

Sell $1.2B
Buyer

MoonSail Capital

Investor Investor

Category Private Equity Firm
Founded 2017
Size Small
Type Sector Agnostic
DESCRIPTION

MoonSail Capital is a private equity firm focused on providing equity and/or debt capital to lower middle-market companies ($5 to $100 million of revenue) throughout the US and Puerto Rico. The Firm has no stated sector preferences, but prefers capital light businesses with add-on possibilities and predictable revenue streams. MoonSail Capital was formed in 2017 and is based in Los Angeles, California.

DEAL STATS #
Overall 4 of 5
Sector (Healthcare Services) 3 of 3
Type (Secondary Buyout) 2 of 3
State (Georgia) 1 of 1
Country (United States) 4 of 5
Year (2022) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-09-30 Homestead

Philadelphia, Pennsylvania, United States

Homestead creates transparent and sustainable health plans and put the power back in the hands of the employer. The company's plans are built on a proprietary reference-based repricing system and include stop-loss insurance protection against catastrophic losses as well as third-party administration. Homestead was founded in 2015 and is based in Philadelphia, Pennsylvania.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-08-02 Superior Environmental Solutions

Cincinnati, Ohio, United States

Superior Environmental Solutions (SES) is a provider of comprehensive, vertically integrated environmental and industrial services, including emergency response, hydro blasting, vacuum truck services, sponge blasting, product destruction, recycling and universal-waste management, transportation and waste disposal, and related, complementary services. Superior Environmental Solutions was founded in 1999 and is based in Cincinnati, Ohio.

Buy -

Seller(S) 1

SELLER

Shore Capital Partners

Chicago, Illinois, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2009
PE ASSETS 350M USD
Size Middle-Market
Type Sector Focused
DESCRIPTION

Shore Capital Partners is a private equity group focused on opportunities in healthcare, food/beverages, and business services. Specific healthcare areas of interest include infusion therapy, laboratory services, laboratory products/distribution, outpatient rehab therapy, and behavioral health. Shore looks to invest in proven businesses with stable cash-flows and 'significant' growth potential. Prospective companies typically have $5 to $50 million in sales and $1 to $7 million of EBITDA. Shore Capital was formed in 2009 and is based in Chicago, Illinois.

DEAL STATS #
Overall 9 of 16
Sector (Healthcare Services) 8 of 9
Type (Secondary Buyout) 3 of 5
State (Georgia) 1 of 1
Country (United States) 9 of 16
Year (2022) 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-07-01 Column Health

Arlington, Massachusetts, United States

Column Health facilitates full recovery from mental illness and substance use disorders, enabling stability and self-actualization for its patients and team members. Column restores hope to individuals and families suffering from these debilitating illnesses through evidence-based world-class treatment and education, while conducting industry-leading research and analysis to continuously improve the efficacy of treatment and service delivery. Column Health is based in Arlington, Massachusetts.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-10-03 IZI Medical

Owings Mills, Maryland, United States

IZI Medical is a developer, manufacturer, and provider of medical consumable accessories used in radiology, radiation therapy, vertebroplasty, and image-guided surgery procedures. IZI has built a diverse portfolio of products backed by strong intellectual property and currently sells to more than 1,000 domestic customers as well as internationally across 25 countries. IZI Medical was formed in 1991 and is based in Owings Mills, Maryland.

Sell £138M
Mergr

Product

Company

Legal