M&A Deal Summary

Thomas H. Lee Partners and Frazier Healthcare Partners Acquire Adare Pharma Solutions

On September 22, 2020, private equity firm Thomas H. Lee Partners and growth capital firm Frazier Healthcare Partners acquired life science company Adare Pharma Solutions from TPG

Acquisition Highlights
  • This is Thomas H. Lee Partners’ 4th and Frazier Healthcare Partners’ 15th transaction in the Life Science sector.
  • This is Thomas H. Lee Partners’ 64th and Frazier Healthcare Partners’ 38th transaction in the United States.
  • This is Thomas H. Lee Partners’ 2nd and Frazier Healthcare Partners’ 3rd transaction in New Jersey.

M&A Deal Summary

Date 2020-09-22
Target Adare Pharma Solutions
Sector Life Science
Buyer(s) Thomas H. Lee Partners
Frazier Healthcare Partners
Sellers(s) TPG
Deal Type Secondary Buyout
Advisor(s) Debevoise & Plimpton (Legal)

Target

Adare Pharma Solutions

Lawrenceville, New Jersey, United States
Adare Pharma Solutions provides enhanced medicines, creating new possibilities for improved patient health. Adare Pharma Solutions has solved complex formulation, manufacturing, and commercialization challenges, resulting in transformational medicines that deliver value to all its stakeholders. The company has a global presence with R&D, manufacturing, and commercial operations in the Unites States, Europe, and Canada. Adare Pharma Solutions was founded in 2015 and is based in Lawrenceville, New Jersey.

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Buyer(S) 2

Buyer

Thomas H. Lee Partners

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1974
PE ASSETS 35.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Thomas H. Lee Partners (THL) is a private equity firm that seeks buyout, expansion, consolidation, distressed, and recapitalization investments across various industries. Sectors of interest include business and information services, consumer products/retail, financial services, healthcare, industrial, and media/communications. THL looks to invest $100 to $400 million in companies valued up to $2.5 billion. THL was formed in 1974 and is based in Boston, Massachusetts.


DEAL STATS #
Overall 75 of 90
Sector (Life Science) 4 of 4
Type (Secondary Buyout) 25 of 32
State (New Jersey) 2 of 2
Country (United States) 64 of 77
Year (2020) 5 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-09-22 Phytech

Tulare, California, United States

Phytech is a SaaS-based digital farming automation business serving permanent crop growers across multiple continents. Its technology collects photosynthesis data from plant sensors and applies a proprietary algorithm to propose optimal irrigation practices, improving water utilization, crop yield and crop quality. Phytech is based in Tulare, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-10-21 Care Hospice

Charlottesville, Virginia, United States

Care Hospice is an operator of a Hospice that delivers the quality of care to its patients across a variety of settings, including homes, skilled nursing facilities, and assisted living facilities. Care Hospice was founded in 2008 and is based in Charlottesville, Virginia.

Buy -
Buyer
DESCRIPTION

Frazier Healthcare Partners is a private equity and venture capital firm specializing in Growth buyout investment specifically targets businesses that deal Healthcare, Life Sciences, Pharmaceutical services, medical products, and related sectors. Frazier Healthcare Partners was formed in 1991 and is based in Seattle, Washington with an additional office in Palo Alto, California; Boston, Massachusetts; and Menlo Park, California.


DEAL STATS #
Overall 39 of 48
Sector (Life Science) 15 of 17
Type (Secondary Buyout) 4 of 10
State (New Jersey) 3 of 5
Country (United States) 38 of 47
Year (2020) 2 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-06-16 Vaxcyte

San Carlos, California, United States

Vaxcyte is a biopharmaceutical company dedicated to the delivery of best-in-class conjugate vaccines and novel complex antigen-based vaccines to prevent serious infectious diseases. Vaxcyte was incorporated in 2013 and is headquartered in San Carlos, California.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-10-26 Accuity Delivery Systems

Mount Laurel, New Jersey, United States

Accuity Delivery Systems is a revenue cycle management business that provides clinical documentation improvement, coding and quality assurance and provider education services to its hospital clients. Accuity Delivery Systems is based in Mount Laurel, New Jersey.

Buy -

Seller(S) 1

SELLER

TPG

Fort Worth, Texas, United States

Investor Investor Investor Investor


Category Private Equity Firm
Founded 1992
PE ASSETS 137.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

TPG Capital is a global, mega-sized private investment firm that manages a family of funds focused on private equity, real estate, venture capital, public equity and debt investing. TPG invests in opportunities across a broad range of industries and geographies. TPG generally seeks to invest in established businesses that can benefit from the Firm's operational experience and connections. Industries of interest include consumer, retail, healthcare, industrials, digital media, natural resources, energy, real estate, technology, and software. TPG was formerly known as Texas Pacific Group and was originally established in 1992 by David Bonderman, James Coulter and William Price. The Firm is based in Forth Worth, Texas with additional offices in Europe, Asia, and Australia.


DEAL STATS #
Overall 217 of 267
Sector (Life Science) 29 of 31
Type (Secondary Buyout) 26 of 36
State (New Jersey) 4 of 5
Country (United States) 156 of 193
Year (2020) 12 of 20
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-09-22 Reliance Retail

Mumbai, India

Reliance Retail operates an online and offline retail business in three core segments across India: food & grocery, fashion & lifestyle, and consumer electronics. Reliance Retail was founded in 2006 and is based in Mumbai, India.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-10-21 McAfee

San Jose, California, United States

McAfee delivers proactive and proven security solutions and services that help secure systems and networks around the world, McAfee protects consumers and businesses of all sizes from the latest malware and emerging online threats. McAfee's solutions are designed to work together, integrating anti-malware, antispyware, and antivirus software with security management features that deliver unsurpassed real-time visibility and analytics, reduce risk, ensure compliance, improve Internet security, and help businesses achieve operational efficiencies. McAfee was formed in 1987 and is based in San Jose, California.

Sell -