M&A Deal Summary

One Equity Partners and The Silverfern Group Acquire RestorixHealth

On March 21, 2021, private equity firm One Equity Partners and asset manager The Silverfern Group acquired healthcare services company RestorixHealth from Leonard Green & Partners and Cressey

Acquisition Highlights
  • This is One Equity Partners’ 5th and The Silverfern Group’s 2nd transaction in the Healthcare Services sector.
  • This is One Equity Partners’ 56th and The Silverfern Group’s 12th transaction in the United States.
  • This is One Equity Partners’ 2nd and The Silverfern Group’s 1st transaction in Louisiana.

M&A Deal Summary
Date 2021-03-21
Target RestorixHealth
Sector Healthcare Services
Buyer(s) One Equity Partners
The Silverfern Group
Sellers(s) Leonard Green & Partners
Cressey
Deal Type Secondary Buyout

Target

RestorixHealth

Metairie, Louisiana, United States
RestorixHealth is a provider of comprehensive wound care treatment centers that offer advanced wound care modalities as well as hyperbaric oxygen therapy (“HBOt”). RestorixHealth focuses on establishing in-hospital centers of excellence to treat the growing incidence of severe grade diabetic wounds of the lower extremities and wounds that are unresponsive to general wound care treatments. RestorixHealth was established in 1997 and is based in Metairie, Louisiana.

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Buyer(S) 2

Buyer

One Equity Partners

New York, New York, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2001
PE ASSETS 10.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

One Equity Partners (OEP) is a private equity firm that targets buyout and growth capital investments in North America, Europe, and Asia. OEP prefers to be the lead investor and typically commits $30 to $300 million per transaction. Sectors of interest include industrial products/services, consumer, retail, chemicals, media, communications, and healthcare. One Equity Partners was formed in 2001 and spun out of JP Morgan Chase in 2015. One Equity Partners is based in New York City.

DEAL STATS #
Overall 94 of 131
Sector (Healthcare Services) 5 of 6
Type (Secondary Buyout) 13 of 21
State (Louisiana) 2 of 2
Country (United States) 56 of 78
Year (2021) 1 of 9
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-03-21 Gordian Medical

Irvine, California, United States

Gordian Medical is a provider of advanced wound care, ostomy, urology, and tracheostomy supplies and services. AMT provides both critical care supplies and clinical support services to skilled nursing facilities and other post-acute care settings across the United States. The Company assists healthcare providers in managing the treatment of more than 250,000 wounds annually. Gordian Medical was founded in 1994 and is based in Irvine, California.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-05-04 AMECO

Greenville, South Carolina, United States

AMECO is a full-service provider of construction equipment, scaffolding, small tools management and total site solutions to capital construction project owners, contractors and ongoing plant operators in the chemical, power, energy, life sciences and advanced manufacturing sectors across the U.S. and Canada. AMECO was founded in 1947 and is based in Greenville, South Carolina.

Buy $73M
Buyer

The Silverfern Group

Investor Investor Investor Investor Investor

Category Asset Manager
Founded 2001
Size Small
Type Sector Agnostic
DESCRIPTION

The Silverfern Group is an asset management firm focused on investing in private equity, real estate, and private debt transactions on behalf of institutional investors and single family offices. The Firm will consider opportunities across North/South America, Europe, and Asia. Within its private equity practice, Silverfern makes direct, co-control middle-market private equity investments requiring $25 to $150 million of equity per transaction. Sectors of interest include energy, financial services, food, hospitality, IT, power equipment rental, renewable energy, telecom, transportation, and waste management. The Silverfern Group was established in 2001 and is headquartered in New York City.

DEAL STATS #
Overall 17 of 20
Sector (Healthcare Services) 2 of 2
Type (Secondary Buyout) 4 of 5
State (Louisiana) 1 of 1
Country (United States) 12 of 14
Year (2021) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-03-21 Gordian Medical

Irvine, California, United States

Gordian Medical is a provider of advanced wound care, ostomy, urology, and tracheostomy supplies and services. AMT provides both critical care supplies and clinical support services to skilled nursing facilities and other post-acute care settings across the United States. The Company assists healthcare providers in managing the treatment of more than 250,000 wounds annually. Gordian Medical was founded in 1994 and is based in Irvine, California.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-10-22 Continental Bakeries

Dordrecht, Netherlands

Continental Bakeries is a bakery group that specializes in the production and sale of cookies, biscuits, bread replacement products, and snack bases. Continental Bakeries focuses on private label products and a number of great own brands such as Haust, Gille, Grabower, Bussink, Brinky, and Continental Bakeries. Continental Bakeries was founded in 1593 and is based in Dordrecht, Netherlands.

Sell -

Seller(S) 2

SELLER

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 45 of 54
Sector (Healthcare Services) 3 of 5
Type (Secondary Buyout) 14 of 18
State (Louisiana) 1 of 1
Country (United States) 42 of 51
Year (2021) 2 of 9
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-03-12 JOANN

Hudson, Ohio, United States

JOANN is a specialty retailer of fabrics. JOANN's retail stores and website feature a variety of competitively priced merchandise used in sewing, crafting, and home decorating projects. JOANN was founded in 1943 and is based in Hudson, Ohio.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-04-22 Stella Environmental Services

Houston, Texas, United States

Stella Environmental Services is a provider of transfer station management and municipal waste logistics services. The Company provides facility management, hauling, and loading services to municipal solid waste and transportation customers across various states. Transfer stations are a vital part of the waste collection process by improving the efficiency of collection vehicles and reducing operating costs for Stella’s customers. Stella Environmental Services is based in Houston, Texas.

Buy -
SELLER

Cressey

Chicago, Illinois, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
PE ASSETS 1.0B USD
Size Large
Type Sector Focused
DESCRIPTION

Cressey & Company LP is a specialist private equity investment firm focused on buy-and-build opportunities in the healthcare sector. The firm invests in the range of $10 - $100 million and EBITA of at least $5 million. The firm specific areas of interest include hospitals, homecare, outpatient services, and specialty distribution. Types of transaction include buyout, growth and recapitalization. It also seeks controlling interest. Cressey & Company has offices in Chicago, Illinois and Nashville, Tennessee.

DEAL STATS #
Overall 19 of 22
Sector (Healthcare Services) 12 of 13
Type (Secondary Buyout) 5 of 7
State (Louisiana) 2 of 2
Country (United States) 18 of 21
Year (2021) 2 of 4
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.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-04-01 Dental Services Group

St. Petersburg, Florida, United States

Dental Services Group is an operator of a full-service laboratory network with over 40 dental laboratories that offers dental prosthetic solutions, including fixed, removable, implant, orthodontic and sleep dentistry products. Dental Services Group was founded in 1989 and is based in St. Petersburg, Florida.

Sell -
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