PE-backed software companies Precisely and Therapy Brands evaluate sales, Apollo makes preferred investment in US Acute Care

Centerbridge Partners and Clearlake Capital are exploring a sale of Precisely and Apollo commits to invest up to $470 million in US Acute Care Solutions.

Morning!

Big tech scoop from our very own Milana Vinn today. Centerbridge Partners and Clearlake Capital are exploring a sale of Precisely that could ultimately value the infrastructure software company above $3.5 billion, sources familiar with the process told PE Hub.

Precisely was formed in July 2017, when Centerbridge acquired two enterprise software providers – Syncsort and Vision Solutions – from Clearlake, the latter which retained a minority investment. The combined enterprise value of the two acquisitions translated to $1.26 billion, according to a press release shared at that time.

A formal process may kick off in April for the business, which specializes in big data, high-speed sorting products, data integration, data quality, data enrichment and location intelligence. Check out Milana’s full report.

Tech meets behavioral healthcare: Private equity-backed Therapy Brands, whose collection of technology solutions aims to support the growing behavioral health industry, is evaluating a sale, according to four sources familiar with the process. Therapy Brands, who scored a majority investment from Lightyear Capital and Oak HC/FT less than three years ago, is working with William Blair and Triple Tree for financial advice.

Sources said the software platform’s end-market focus is likely to appeal to potential buyers as the broader behavioral healthcare space continues to see major growth. At the same time, they said buyers when valuing the company are likely to factor in the integration of the various businesses that now make up Therapy Brands – which lists 19 brands on its website. Read my story for more detail.

You heard it here first: Apollo Global Management – through its Hybrid Value platform – said Tuesday it has committed to invest up to $470 million of preferred equity in US Acute Care Solutions, a provider of physician-owned emergency medicine, hospitalist and observation services.

With the recapitalization, Welsh, Carson, Anderson & Stowe exited its investment.
The news comes a few weeks after PE Hub wrote that US Acute Care, facing less regulatory overhang, was seeking a $1 billion-plus recapitalization via a Barclays-run process. Have any idea where value panned out?

That’s it for today. Have a great week ahead, and as always, hit me up with feedback, gossip and tips or whatever you have to say at springle@buyoutsinsider.com or find me on LinkedIn.

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.