| Linden, DW Healthcare-backed HydraFacial merges with Brent Saunders-sponsored SPAC, SoftBank mulls 'slow-burn' take-private, TA Associates makes 3x its money on Flexera Another day, another SPAC deal.
Linden Capital- and DW Healthcare Partners-backed HydraFacial has agreed to merge with a SPAC sponsored by Brent Saunders, the former CEO of Allergan and an experienced investor in healthcare and consumer products, an announcement this morning revealed.
The deal with Vesper Healthcare Acquisition Corp. implies an initial enterprise value of $1.1 billion for HydraFacial, whose 30-minute facial is likened to a medical treatment. Linden will remain the largest shareholder in HydraFacial following the deal.
For Chicago’s Linden, the SPAC doesn’t appear to be its only first of the year. Among other activity, the firm made what appears to be its first ever structured capital investment outside of the portfolio in October, announcing preferred equity investment in IVX Health following a notable new hire in 2019.
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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 [email protected].
Also of note (may require subscriptions) New strategy: TPG is premarketing its debut secondaries fund that could target as much as $2 billion after the buyout firm brought on Michael Woolhouse earlier this year, sources told Buyouts.
Promoting diversity: A new industry group to support women across the private equity and finance sectors has been launched by Coller Capital in partnership with law firm Akin Group. Check out Secondaries Investor’s full report.
Blockbuster: Hitting a whopping $38 billion valuation, DoorDash raised $3.37 billion in an initial public offering above its marketed range, Bloomberg reports.
PE Deals 
They said it “An economic system that is fair, trustworthy, and capable of addressing the most profound challenges facing humanity and our planet is urgently needed. You have taken up the challenge by seeking ways to make capitalism become a more inclusive instrument for integral human wellbeing.” Pope Francis said in a statement in an announcement of a new partnership with a group of businesses, investors and other groups, called the Council for Inclusive Capitalism with the Vatican.
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