M&A Deal Summary

Ridgemont Equity Partners, Stone Point Capital and Crestview Partners Acquire Symbion

On April 24, 2007, private equity firms Ridgemont Equity Partners, Stone Point Capital and Crestview Partners acquired healthcare services company Symbion for 637M USD

Acquisition Highlights
  • This is Ridgemont Equity Partners’ 6th, Stone Point Capital’s 1st and Crestview Partners’ 1st transaction in the Healthcare Services sector.
  • This is Ridgemont Equity Partners’ 12th, Stone Point Capital’s 12th and Crestview Partners’ 7th largest (disclosed) transaction.
  • This is Ridgemont Equity Partners’ 58th, Stone Point Capital’s 14th and Crestview Partners’ 5th transaction in the United States.
  • This is Ridgemont Equity Partners’ 5th, Stone Point Capital’s 2nd and Crestview Partners’ 1st transaction in Tennessee.
Investment Fate
  • Symbion merged with another company in 2014 for 792M USD.

M&A Deal Summary

Date 2007-04-24
Target Symbion
Sector Healthcare Services
Buyer(s) Ridgemont Equity Partners
Stone Point Capital
Crestview Partners
Deal Type Going Private
Deal Value 637M USD
Advisor(s) Waller (Legal)

Target

Symbion

Nashville, Tennessee, United States
Symbion owns and operates a national network of short stay surgical facilities.

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Buyer(S) 3

Buyer

Ridgemont Equity Partners

Charlotte, North Carolina, United States

Investor Investor Investor Investor


Category Private Equity Firm
Founded 1993
PE ASSETS 7.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Ridgemont Equity Partners is an independent private equity firm specializing in middle-market buy-outs, corporate divestitures, recapitalizations and growth capital investments. The Firm targets to invest in companies located in North America, preferably in US and Canada. REP looks to invest up to $500 million in companies with EBIDTA of $5 - $50 million. The Firm seeks to hold both majority and minority equity interest in portfolio companies. Specific areas of interest include basin industries and services, energy, healthcare, telecommunications, media and technology. Ridgemont Equity Partners is a spun-off of Banc of America Capital Investors (BACI). Ridgemont Equity Partners was formed in August 2010 and is based in Charlotte, North Carolina.


DEAL STATS #
Overall 67 of 134
Sector: Healthcare Services M&A 6 of 16
Type: Going Private M&A Deals 7 of 9
State: Tennessee M&A 5 of 5
Country: United States M&A 58 of 119
Year: 2007 M&A 4 of 6
Size (of disclosed) 12 of 20
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-04-24 MetroPCS Communications

Richardson, Texas, United States

MetroPCS Communications, Inc. is a provider of wireless communications services in several metropolitan areas of the US, including SanFrancisco, Miami and Atlanta. MetroPCS offers simple, flat-rate calling plans that provide unlimited usage within a local calling area with no long-term contracts.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-04-26 Veda Group

Sydney, Australia

Veda Group Ltd. is a provider of credit information and analysis in Australia and New Zealand. Veda delivers a suite of credit and other analytical products targeted to specific industry segments.

Buy $659M
Buyer

Stone Point Capital

Greenwich, Connecticut, United States


Category Private Equity Firm
Founded 1994
PE ASSETS 55.0B USD
Size Mega
Type Sector Focused
DESCRIPTION

Stone Point Capital is a private equity firm that targets investments in financial services sector. Specific areas of interest include insurance underwriting, outsourcing service providers to financial institutions, specialty lending and other credit opportunities, employee benefits and healthcare, asset management/retirement savings, and banking/depository institutions. Stone Point looks to commit between $75 and $750 million of equity per transaction and will consider control or substantial minority positions. Geographic areas of interest include North America and Europe. Stone Point Capital was formed in 1994 and is based in Greenwich, Connecticut.


DEAL STATS #
Overall 19 of 118
Sector: Healthcare Services M&A 1 of 3
Type: Going Private M&A Deals 1 of 7
State: Tennessee M&A 2 of 5
Country: United States M&A 14 of 106
Year: 2007 M&A 5 of 9
Size (of disclosed) 12 of 16
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-03-02 EasyCare

Norcross, Georgia, United States

EasyCare is a marketer and administrator of vehicle service contracts and complementary products sold by auto dealers throughout the United States and Canada. EasyCare was formed in 1984 and is based in Norcross, Georgia.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-05-15 Atlantic Capital

Atlanta, Georgia, United States

Atlantic Capital is a commercial bank focused on serving middle market corporations, emerging growth businesses, mid-sized real estate developers and investors and the principals of these businesses. Atlantic Capital was founded in 2006 and is based in Atlanta, Georgia.

Buy -
Buyer

Crestview Partners

New York, New York, United States


Category Private Equity Firm
Founded 2004
PE ASSETS 10.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Crestview Partners is a private equity firm focused on challenging investment situations. Crestview targets opportunities across a broad range of industries, with a special interest in asset management, media, healthcare and financial service companies. The Firm looks to commit $100 to $250 million of equity capital in transactions valued between $500 million and $3 billion. Crestview Partners was formed in 2004 and is based in New York, New York.


DEAL STATS #
Overall 7 of 55
Sector: Healthcare Services M&A 1 of 2
Type: Going Private M&A Deals 1 of 2
State: Tennessee M&A 1 of 1
Country: United States M&A 5 of 44
Year: 2007 M&A 2 of 4
Size (of disclosed) 7 of 9
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-03-07 Key Safety Systems

Sterling Heights, Michigan, United States

Key Safety Systems is a supplier of automotive safety restraint systems and components. KSS supplies a broad range of safety products including airbag components and systems; seat belts; steering wheels; and position and movement sensors. Key Safety Systems was founded in 1987 and is based in Sterling Heights, Michigan.

Buy $650M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-06-01 FBR Capital Markets

Arlington, Virginia, United States

FBR was founded in 1989 when Emanuel J. Friedman, Eric F. Billings and W. Russell Ramsey borrowed $1 million to launch a research and securities trading firm specializing in the finance and real estate sectors. Hundreds of miles from Wall Street, these three entrepreneurs and 15 other employees established one of the most successful startups in the securities industry in the last half century.

Sell -