M&A Deal Summary

Partners Group AG Acquires Confluent Health

On May 30, 2019, asset manager Partners Group AG acquired healthcare services company Confluent Health from The Edgewater Funds

Acquisition Highlights
  • This is Partners Group AG’s 4th transaction in the Healthcare Services sector.
  • This is Partners Group AG’s 20th transaction in the United States.
  • This is Partners Group AG’s 1st transaction in Kentucky.

M&A Deal Summary
Date 2019-05-30
Target Confluent Health
Sector Healthcare Services
Buyer(s) Partners Group AG
Sellers(s) The Edgewater Funds
Deal Type Secondary Buyout

Target

Confluent Health

Louisville, Kentucky, United States
Confluent Health is a physical and occupational therapy-focused provider. Confluent provides outpatient physical and occupational therapy services across a network of approximately 200 clinics in twelve states; pre-graduate hybrid Doctor of Physical Therapy programs in partnership with leading universities and post-graduate certification, residency, and fellowship programs for physical therapists; and occupational health & safety services at over 500 corporate locations. Confluent Health was founded in 2014 and is based in Louisville, Kentucky.

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Buyer(S) 1

Buyer

Partners Group AG

Investor Investor Investor Investor Investor

Category Asset Manager
Founded 1996
Size Mega
Type Sector Agnostic
DESCRIPTION

Partners Group is a global investment management firm with a variety of funds and institutional clients. The Firm's direct investment group looks to invest in or acquire market leading companies with growth opportunities linked to technology. Partners is a hands-on investor and looks to actively support its portfolio companies with expansion, operational, and governance structure support. Partners Group was established in 1996 and is headquartered in Zug, Switzerland.

DEAL STATS #
Overall 57 of 88
Sector (Healthcare Services) 4 of 8
Type (Secondary Buyout) 30 of 52
State (Kentucky) 1 of 1
Country (United States) 20 of 33
Year (2019) 3 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-04-23 CapeOmega

Bergen, Norway

CapeOmega is an offshore infrastructure platform. The company provides the essential infrastructure for the transportation of natural gas produced on the Norwegian Continental Shelf and holds significant stakes in some of Norway's key midstream infrastructure assets. CapeOmega was founded in 2014 and is based in Bergen, Norway.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-07-02 Blue River PetCare

Chicago, Illinois, United States

Blue River PetCare is an operator of veterinary hospitals for companion animals. The company manages a network of over 90 general practice hospitals and over 300 veterinarians across the US. Blue River's unique operational model allows for high-levels of clinical autonomy. Blue River PetCare was founded in 2009 and is based in Chicago, Illinois.

Buy -

Seller(S) 1

SELLER

The Edgewater Funds

Chicago, Illinois, United States
Category Private Equity Firm
Founded 1991
PE ASSETS 2.8B USD
Size Large
Type Sector Agnostic
DESCRIPTION

The Edgewater Funds is a private equity firm that targets investments in profitable, middle-market growth companies. Target companies typically have revenues of $20 to $500 million in revenue and EBITDA of $5 to $30 million. The Firm will consider minority and control investments in the form of growth capital financings and traditional buyouts. Edgewater looks for North American businesses operating in a variety of industries. Sectors of interest include business services; financial and government services; consumer products and services; healthcare; IT services and software; and industrial/manufacturing. Edgewater was formed in 1991 and is based in Chicago, Illinois.

DEAL STATS #
Overall 31 of 42
Sector (Healthcare Services) 2 of 2
Type (Secondary Buyout) 9 of 16
State (Kentucky) 2 of 2
Country (United States) 30 of 41
Year (2019) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-11-21 Steel & O Brien

Arcade, New York, United States

Steel & O'Brien is a manufacturer and supplier of Sanitary and Biopharmaceutical (BPE) stainless steel fittings, valves, and tubing primarily for the food, beverage, dairy, and pharmaceutical industries. Steel & O'Brien was founded in 1990 and is based in Arcade, New York.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-07-24 Steel & O Brien

Arcade, New York, United States

Steel & O'Brien is a manufacturer and supplier of Sanitary and Biopharmaceutical (BPE) stainless steel fittings, valves, and tubing primarily for the food, beverage, dairy, and pharmaceutical industries. Steel & O'Brien was founded in 1990 and is based in Arcade, New York.

Sell -
Mergr

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