M&A Deal Summary

Vestar Capital Partners Acquires Friday Health Plans

On April 1, 2021, private equity firm Vestar Capital Partners acquired insurance company Friday Health Plans from Peloton Equity for 100M USD

Acquisition Highlights
  • This is Vestar Capital Partners’ 7th transaction in the Insurance sector.
  • This is Vestar Capital Partners’ 16th largest (disclosed) transaction.
  • This is Vestar Capital Partners’ 2nd transaction in the United Kingdom.
  • This is Vestar Capital Partners’ 4th transaction in Colorado.

M&A Deal Summary

Date 2021-04-01
Target Friday Health Plans
Sector Insurance
Buyer(s) Vestar Capital Partners
Sellers(s) Peloton Equity
Deal Type Secondary Buyout
Deal Value 100M USD
Advisor(s) Triple Tree LLC (Financial)

Target

Friday Health Plans

Alamosa, Colorado, United Kingdom
website
Friday Health Plans is a healthcare management company that offers people and small businesses who buy their own health insurance. The company focuses on overall simplicity to offer affordable health plans with benefits that help members stay healthy and cover them if they get sick or hurt. Friday Health Plans was formed in 2015 and is based in Alamosa, Colorado.

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Buyer(S) 1

Buyer

Vestar Capital Partners

New York, New York, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1988
PE ASSETS 7.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Vestar Capital Partners is a private equity firm that targets management buyouts and growth capital investments across North America and Europe in the consumer, business services, and healthcare sectors. The Firm looks to invest $50 to $150 million in transactions valued up to $1 billion. Specific areas of interest include food, apparel, household goods, retail, consumer services, industrial services, information services, manufacturing, distribution, transportation, financial services, media/communications, digital health media, and medical technology. Vestar Capital Partners was formed in 1988 and is based in New York City.


DEAL STATS #
Overall 78 of 82
Sector (Insurance) 7 of 7
Type (Secondary Buyout) 11 of 13
State (Colorado) 4 of 4
Country (United Kingdom) 2 of 2
Year (2021) 2 of 5
Size (of disclosed) 16 of 16
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-01-21 Dr. Praeger’s Sensible Foods

Elmwood Park, New Jersey, United States

Dr. Praeger’s Sensible Foods, Inc. is a fast-growing brand specializing in delicious, nutritious plant-based frozen and refrigerated foods made from simple ingredients. Dr. Praeger’s Sensible Foods, Inc. was founded in 1994 and is based in Elmwood Park, New Jersey.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-07-06 LERETA

Covina, California, United States

LERETA is a national tax service and flood hazard certification company focused on providing a full suite of national real estate tax services for residential and commercial loans, including automated online research and certification, tax bill processing, a suite of delinquent tax services, and customized tax outsourcing service programs. LERETA was formed in 1986 and is based in Covina, California.

Buy -

Seller(S) 1

SELLER

Peloton Equity

Investor Investor Investor Investor Investor

website


Category Growth Capital Firm
Founded 2014
PE ASSETS 755M USD
Size Middle-Market
Type Sector Focused
DESCRIPTION

Peloton Equity is a private equity firm focused on acquiring and investing in growth-oriented companies in the healthcare sector. The Firm looks for market-tested businesses generating $20 to $200 million and up to $10 million of EBITDA. Peloton has specific interest in companies whose products/services bring efficiency to the healthcare system, via higher quality care, and/or lower costs. Peloton Equity was formed in 2014 and is headquartered in Greenwich, Connecticut.


DEAL STATS #
Overall 2 of 3
Sector (Insurance) 2 of 2
Type (Secondary Buyout) 2 of 2
State (Colorado) 1 of 1
Country (United Kingdom) 1 of 1
Year (2021) 1 of 2
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-06-22 HealthPlanOne

Trumbull, Connecticut, United States

HealthPlanOne is a technology-enabled platform and online marketplace delivering end-to-end, direct-to-consumer enrollment solutions focused exclusively on the high-growth Medicare insurance market. HPOne is a fast-growing, independent digital insurance broker that uses proprietary technology solutions coupled with deep industry knowledge, the Company provides an online marketplace for consumers purchasing Medicare plans, along with a range of outsourced sales, marketing, and contact services for national and regional health plans including MedicareUSA.com, the Company's online Medicare enrollment portal. HPOne's core differentiation is its exclusive focus on the Medicare health insurance industry, bringing innovative and performance-based solutions that benefit from the increasing digitization of insurance distribution. With state-of-the-art online marketing, multiple US-based contact centers, expertise in home-based workforce management, and an experienced management team, HPOne provides consumers with online tools to compare and purchase Medicare plans and its clients with the solutions they need to profitably grow and manage their businesses. HealthPlanOne was formed in 2006 and is based in Trumbull, Connecticut.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-09-28 Journey Health & Lifestyle

South Chesterfield, Vermont, United States

Journey Health & Lifestyle creates innovative products and services to help seniors with daily mobility, comfort, sleep, and safety so they have more freedom to enjoy every moment of life’s journey. Its products include the Zoomer, Zinger, the Perfect Sleep Chair, the So Lite line of ultralightweight mobility products, the Journey Air Elite, and the UPBed. Journey Health & Lifestyle was founded in 2021 and is based in South Chesterfield, Vermont.

Buy -