M&A Deal Summary

Searchlight Capital Partners Acquires Care Advantage

On June 1, 2021, private equity firm Searchlight Capital Partners acquired healthcare services company Care Advantage from BelHealth Investment Partners

Acquisition Highlights
  • This is Searchlight Capital Partners’ 1st transaction in the Healthcare Services sector.
  • This is Searchlight Capital Partners’ 13th transaction in the United States.
  • This is Searchlight Capital Partners’ 1st transaction in Virginia.

M&A Deal Summary
Date 2021-06-01
Target Care Advantage
Sector Healthcare Services
Buyer(s) Searchlight Capital Partners
Sellers(s) BelHealth Investment Partners
Deal Type Secondary Buyout

Target

Care Advantage

Richmond, Virginia, United States
Care Advantage is a provider of home healthcare and related services in Virginia. The Company specializes in “one-on-one” quality nursing care in the home for both “unskilled care” and “skilled care” patients. Care Advantage was founded in 1988 and is based in Richmond, Virginia.

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Buyer(S) 1

Buyer

Searchlight Capital Partners

London, United Kingdom

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2010
PE ASSETS 860M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Searchlight Capital Partners is a private investment firm founded in 2010. The Firm will invest across the capital structure, including equity and debt and will consider a variety of transaction situations, from simple to complex. Areas of focus include communications, media, information, IT services, business services, financial services, consumer services, consumer products, education, and industrial goods/services. The Firm will consider opportunities across North America and Europe. Searchlight Capital has offices in New York, London, and Toronto.

DEAL STATS #
Overall 27 of 39
Sector (Healthcare Services) 1 of 1
Type (Secondary Buyout) 5 of 7
State (Virginia) 1 of 2
Country (United States) 13 of 21
Year (2021) 2 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-04-13 Technical Airborne Components

Milmort, Belgium

Technical Airborne Components designs and manufactures rods and struts for the aerospace industry. TAC is recognized worldwide as the reference source for high-quality, custom-engineered control, structural and system rods. Its expertise in design, development, and manufacturing of metallic & composite struts and rods is complemented by related machined parts (e.g. cranks, brackets), special tubular links, telescopic rods, torque shafts, and special rod ends. Technical Airborne Components was founded in 1981 and is based in Milmort, Belgium.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-07-06 All Points Broadband

Richmond, Virginia, United States

All Points Broadband is a rural-facing ISP in the mid-Atlantic, currently serving approximately 25,000 end-users through a combination of fiber-to-the-home (“FttH”) and fixed wireless networks in markets throughout Virginia and Kentucky. All Points Broadband was founded in 2014 and is based in Richmond, Virginia.

Buy -

Seller(S) 1

SELLER

BelHealth Investment Partners

Fort Lauderdale, New York, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2011
PE ASSETS 500M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

BelHealth Investment Partners LLC is a private equity firm focused on mid-sized healthcare companies. The Firm looks to invest $20 to $50 million per transaction and specifically targets healthcare services, healthcare products, healthcare distribution, and healthcare IT. BelHealth prefers companies with recurring revenue, high margins, diverse customers, low regulatory oversight, and modest technology risk. Prospective companies are typically profitable with at least $20-$100 million of enterprise value, $10-$100 million of revenue and $2-$10 million of EBITDA. BelHealth was formed in 2011 and is based in New York City.

DEAL STATS #
Overall 5 of 9
Sector (Healthcare Services) 2 of 3
Type (Secondary Buyout) 1 of 2
State (Virginia) 1 of 1
Country (United States) 5 of 9
Year (2021) 1 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-09-14 Gemini Bio

West Sacramento, California, United States

Gemini Bio is a biological reagents manufacturer and supplier serving the scientific community across academic research and the biotechnology and biopharma industries. Gemini Bio was founded in 1985 and is based in West Sacramento, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-07-19 EasyDNA

Elk Grove, California, United States

EasyDNA is a provider of DNA testing and genetic testing. EasyDNA’s network of online retail sales platforms offers fast and affordable home DNA testing that is reliable and confidential. They also offer a number of lifestyle and health and wellbeing tests, and animal testing relating to allergies and tolerances. EasyDNA was founded in 2007 and is based in Elk Grove, California.

Sell $4M
Mergr

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