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Canadian healthcare private equity firm Persistence Capital Partners (PCP) has appointed Norman M. Steinberg as a senior advisor. Steinberg is currently chair emeritus of Norton Rose Fulbright Canada. In the period 2005 to March 2017, he was co-chair and then chair of Norton Rose Fulbright and its predecessor, Ogilvy Renault. During his 40-year legal career, he has focused on M&A, corporate finance and corporate governance, and advised on key Canadian deals. Steinberg will advise PCP as the firm explores new healthcare opportunities. He will also provide strategic and operational advice to portfolio companies.
KKR, Kohlberg Kravis Roberts, healthcare, private equity
PE giant opportunistic when it comes to sectors Relationship-building a key deal-sourcing element August buys: Envision unit, Covenant, PharMerica Jim Momtazee leads the healthcare investment team at KKR, one of the most active buyers in the sector in recent weeks. How has KKR’s healthcare investing strategy evolved over the past five years? The biggest change […]
Avista Capital Partners, Envigo International, veterinary, private equity, merger, M&A
Avista-sponsored SPAC buys Envigo Avista Capital owns Envigo peer MPI Research Preclinical contract services market has consolidated to 4 players of scale Avista Capital Partners’ ties to the nonclinical contract-research-services market extend well beyond Envigo International Holdings Inc, which this week was purchased by the healthcare SPAC founded by the firm’s execs. Besides an affiliation […]
Thomas H. Lee, Lee Equity Partners, Chris Witkowsky, private equity
Fund I closed in 2008 at ~$1.1 bln An interim bridge fund raised at least $315 mln in 2016 New York firm promoted five team members in February Lee Equity Partners plans to raise its next fund in 2018, the firm’s founder, Thomas H. Lee, said at Emerging Manager Connect East. Lee also indicated he would move out […]
Madison Capital, Adam Willis, private equity, merger, M&A
Healthcare makes up >20% of lender’s portfolio Unrealistic value expectations of “me too” companies lead to failed processes Diverse pool of capital providers drives up debt multiples Adam Willis serves as a managing director at Madison Capital Funding, where he heads up the lender’s healthcare efforts and leads a dedicated team. Madison, with more than […]
private equity, merger, M&A, TPG,
Q2 sees 127 announced PE deals vs. 75 in Q1; dollar volume also spikes Tech produces highest number of closed transactions TPG among most active in tech, supported by 3 funds with 3 different mandates A high-price environment hasn’t stopped traditional private equity firms from finding new investments, with sponsor-led dealmaking in tech fueling a […]
Century Park Capital Partners, Cirtec, medical devices, healthcare, private equity, merger, M&A
Top and bottom lines both grew ~4x during hold 3i investment concludes Piper Jaffray sales process Century Park recapped Cirtec in November 2010 Cirtec Medical Systems’ revenue and EBITDA both grew about fourfold during Century Park Capital Partners’ more than 6 1/2-year investment, Chip Roellig, a managing partner at the El Segundo, California, private equity […]
Guardian Insurance, Maurice Gordon, insurance, private equity
Sales of minority stakes are rarely truly “passive” There’s always implicit or explicit pressure to grow Funds are getting too big too quickly Sales of minority stakes by general partners almost always cause PE firms to lose an element of control, according to Maurice Gordon, managing director and head of private equity for Guardian Insurance Co […]
Frontier Capital, Andrew Lindner, private equity
Employer-provided healthcare supports corporate wellness consolidation Frontier’s Viverae explores potential transactions PE firm eyes deals in RCM, cost-containment and tech supporting shift to value-based care Andrew Lindner is a co-founder and managing partner of Frontier Capital, where he helps lead the Charlotte, N.C., firm’s healthcare IT and vertical SaaS investment activities. Regardless of how the […]
Size and differentiation are huge advantages in frothy market Blackstone most active Q1 sponsor, strikes largest U.S.-based deal Deal activity slows as PPMs reach records First-quarter sponsor-led deal flow illustrated that differentiation is more important than ever, as the pool of buyers chasing quality assets continues to expand and valuations remain at record levels. “In […]
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