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 | PitchBook Newsletter | | Private Equity Edition |
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| Powered by the PitchBook Platform. Learn more» | | 520,025 Deals | 34,000 Funds | 22,566 Limited Partners | 26,401 Advisors | |
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THURSDAY, MARCH 24, 2016  | |
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Q&A: Plante Moran discusses the benefits of sell-side tax due diligence  | | Shefferly | |
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We recently caught up with Plante Moran's Robert Shefferly III for a Q&A centered on sell-side tax due diligence, including how such reviews can boost deal value, speed up the sale process, establish credibility with a buyer and help get ahead of potential sticking points in a negotiation.
Here is a snippet from the interview:
What if a sell-side due diligence review turns up an unresolved tax issue?
"While there's no such thing as a 'good time' to learn about some kind of oversight or miscalculation in the taxes of a business, there are certainly 'less bad' times. When it comes to a business that is looking to be acquired, the earlier a potential tax irregularity is identified, the more options that business has to remedy the situation prior to going to market and negotiating with a potential buyer. A sell-side tax due diligence review can give the seller access to options like…"
Click here to read the full Q&A. |
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Apollo's RegionalCare to merge with Capella and form $1.7B company RegionalCare Hospital Partners, an Apollo portfolio company, has entered a merger agreement with Capella Healthcare whereby Capella would become fully owned by RegionalCare. The combined company, to be named RCCH Health Partners, will have 18 hospital campuses in 12 U.S. states with over 13,000 employees, 2,000 affiliated physicians and $1.7 billion in revenues. The deal is expected to close in 2Q.
Consolidation can be particularly appealing to U.S. healthcare companies seeking increased efficiencies to mitigate costs, and indeed activity has picked up in recent years. According to the PitchBook Platform, 252 add-ons were completed in the U.S. healthcare sector in 2015, a 41% increase in deal count from just two years earlier. Over 50 add-ons have closed so far in 2016, roughly on the same pace as last year.
PitchBook users can click here to access our full data on U.S. healthcare add-ons since 2009, including sub-sector trends, most active investors, regional breakdowns and more. Not a client but want this info? Contact us today. |
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Yum! Brands reportedly explores sale of stake in China division | Yum! Brands (NYSE: YUM) is reportedly exploring the sale of a roughly 20% stake in its China division, valuing the division at around $10 billion. KKR and Baring Private Equity Asia are rumored to be among the interested buyers. Yum!, which owns KFC, Pizza Hut and Taco Bell, announced its intention last October to separate the China division into an independent company. | Restaurants Louisville, KY |
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GI to acquire Netsmart from Genstar | GI Partners has signed a definitive agreement to acquire Netsmart Technologies, a provider of software & technology solutions for the health & human services sector, from Genstar Capital. GI is acquiring Netsmart in partnership with Allscripts Healthcare Solutions (NASDAQ: MDRX), which will merge its homecare software business unit with Netsmart. | Application Software SaaS
HealthTech
Overland Park, KS | | |
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ACG Orange County Southern California Capital Summit Join ACG Orange County and PitchBook on April 7 at southern California’s most influential forum on the demand and deployment of private capital in corporate America. Highlighted by key data points from PitchBook, a best-in-class panel of financial experts will assess the latest trends in term sheets, covenants and underwriting standards; best practices in leveraging sources of capital; and trends in valuation and valuation metrics.
Then, immediately following the keynote, choose from a series of sector-specific M&A panels, focusing on aerospace and defense, cloud computing, energy, healthcare and leisure & wellness.
For more info, click here. |
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CapVest purchases IBA stake from SK Capital | CapVest Partners has completed the acquisition of IBA Molecular, a manufacturer and distributor of radiopharmaceuticals, from SK Capital. Working alongside IBA, SK Capital had formed the company in 2012 through a transaction valued at €180 million. | Distributors Manufacturing
Gif-sur-Yvette, France | |
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Ergon acquires amusement park operator from H.I.G. Sentica Partners backs BPO company Centerbridge to exit Carefree for $1.68B | Centerbridge Capital Partners has entered an agreement to sell Carefree Communities to Sun Communities (NYSE: SUI) for a reported $1.68 billion in cash and stock. Carefree is a real-estate investment trust operating manufactured-housing communities for seniors and destination RV resorts in North America. The deal is expected to close by July 9. | |
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Frazier Healthcare Partners raises $525M | Frazier Healthcare Partners has hit the hard cap of $525 million on its first growth buyout fund focused exclusively on profitable healthcare companies in the lower middle market. The firm closed its most recent venture fund, Frazier Healthcare VIII, on $262 million in October. | |
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Monroe forms specialty lending group | Monroe Capital has established a Specialty Finance Lending business vertical. The group will focus on generating current cash flow based on a diverse portfolio of senior secured debt investments. | Business Development Company Chicago, IL |
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Braff advises, originates pharmacy deal |
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