Call for nomination of women superstars helping shape the future of private equity, Partners Group buys back medical apparel company Careismatic in ~$1.3bn deal

Attention: Women in PE who are movers and shakers and Partners Group acquires Careismatic for $1.3 billion

Happy Friday, hubsters!

What. A. Week. That’s an understatement. I hope everyone takes some time to turn off the news and relax this weekend.

But first, we’ve got some housekeeping for all readers today.

Women rule the world: While the numbers continue to climb, albeit slowly, women in private equity remains grossly underrepresented in a world where women make up half the population. The industry has a long way to go.

As such, our popular annual Women in PE list featuring 10 mini profiles of rockstar women in private equity is approaching, and we need your help!

Any awesomely talented dealmakers we should know about? If you would like to nominate any up-and-comers or rising stars poised to shape future generations of private equity, or senior women already running the ship and driving deal flow, write to me at springle@buyoutsinsider.com and my colleague Chris Witkowsky at cwitkowsky@buyoutsinsider.com. Those chosen by our editors will be featured in our March cover story online and in print.

Our 2020 list of top-notch women featured investors from Carlyle Group, Goldman Sachs, OTPP, General Atlantic, and elsewhere. Read it here.

I’d also love to hear your two cents on any new or unique initiatives being carried out across the industry to encourage a more inclusive workplace, or any other relevant trends. In last year’s deep dive, sources told me the real challenge the industry is grappling with is how to prevent senior women from leaving their firms or retiring. Check it out here.

And on to a some actual news…

Double dipping: In today’s virtually restricted yet undeniably competitive environment, the opportunity to invest in a company you successfully owned in a prior lifetime might look pretty attractive.

Such was the case for Partners Group. The Swiss private equity firm has bought back Careismatic Brands (CBI) from New Mountain Capital, concluding a swift three-month auction process for the medical apparel company. Financial terms weren’t disclosed, but a source told PE Hub the deal was valued just south of $1.3 billion. Read Karishma Vanjani’s full story here.

CBI is part of a larger healthcare effort that Partners kicked off two years ago, the firm’s Chris Russell said, pointing to the three physician practice acquisitions completed in 2019: Confluent Health, a physical therapy services provider, Blue River PetCare, a chain of veterinary hospitals and EyeCare Partners, a medical vision services provider. ICYMI, Blue River was bought in a $440 million-plus deal, whereas Partners’ deal for EyeCare Partners panned out at $2.2 billion, PE Hub previously wrote.

Partners last month also purchased New Harbor Capital’s Wedgewood Pharmacy, one of the largest providers of compounded animal medications for acute and chronic conditions in the country.

Have a great weekend, everyone! As always, write to me at springle@buyoutsinsider.com with your comments, tips or just to say hello.

Note to Readers: It’s that time of year … for the 21st time, the editors of PE Hub and Buyouts honor exceptional buyouts with our Deal of the Year Awards.

Winners are chosen in seven categories: Deal of the Year, Large-Market Deal of the Year, Middle-Market Deal of the Year, Small-Market Deal of the Year, Turnaround of the Year, International Deal of the Year, and Secondaries Deal of the Year.

Go here for more information and to read about rules and methodology. Also check out past winners. Last year, New Mountain took the crown with its exit of Equian.

If you have additional questions, email Private Equity Editor Chris Witkowsky at cwitkowsky@buyoutsinsider.com.