Vista Equity strikes $3.5 billion take-private for edtech firm Pluralsight, Brookdale Senior Living seeks buyer for home health and hospice segment

Vista Equity is acquiring Pluralsight in a take-private deal for $3.5 billion and Brookdale Senior Living seeks a buyer for its home health and hospice unit.

Morning, hubsters!

We’ve got a big tech deal in the popular online education category to kick off the week. Vista Equity Partners is set to take Pluralsight private in a transaction valued at $3.5 billion, a Sunday announcement said.

Pluralsight, which provides workforce development technology, says that its two products – Pluralsight Skills and Pluralsight Flow – are used by more than 17,000 customers, including 70 percent of Fortune 500 companies.

For Pluralsight, the agreement comes less than three years after joining the public markets, raising $310 million in its May 2018 IPO. The edtech company said the deal concluded a robust process evaluating transaction alternatives, in response to unsolicited interest. Read our brief on PE Hub.

Corporate carve-out: Nursing home giant Brookdale Senior Living is evaluating the divestiture of its home health and hospice segment, four sources familiar with the process told PE Hub.

The rationale is simple for Brookdale, the largest operator of senior living communities in the United States. With the senior living industry hit hard through covid, Brookdale needs to divest the business to improve liquidity, sources said. Read my full report.

The Brookdale situation is complicated because the majority of the home health and hospice business is derived from the company’s core nursing home business. That said, hospice care and non-medical home care have drawn significant interest from private equity investors in recent months.

Have an update on Brookdale or any other feedback or deal tips? Write to me at springle@buyoutsinsider.com.

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.