Avista Capital Partners

Avista Capital Partners, LLP
Company typePrivate
IndustryPrivate equity
PredecessorDLJ Merchant Banking Partners
Founded2005
Founders
HeadquartersNew York, New York, United States
ProductsLeveraged buyout, Growth capital
Total assets$5 billion
Websitewww.avistacap.com

Avista Capital Partners is an American private equity firm headquartered in New York City focused on growth capital and leveraged buyout investments in middle-market companies in the domestic healthcare sector.

History

The firm was founded in 2005 by Steven Webster, Thompson Dean and David Burgstahler, as a spinoff from Credit Suisse's private equity arm DLJ Merchant Banking Partners (Dean was head of DLJMBP).[1] Avista's spinoff from Credit Suisse was at the same time as private equity groups from other leading investment banks were formed including JPMorgan Chase's CCMP Capital, Citigroup's Court Square Capital Partners, Deutsche Bank's MidOcean Partners, and Morgan Stanley's Metalmark Capital.

In 2007, the firm closed its first fund at $2 billion.[2][3] This included a commitment from predecessor Credit Suisse, whereas fellow spin-off Diamond Castle did not.[4] Avista’s second fund closed with $1.8 billion of commitments, which was lower than its original target between $2.5 and $3 billion. The firm cited changes in North American alternative investment strategies for its lower target.[5]

Its third fund closed in 2013 with $1.4 billion in commitments and in 2016 Avista began raising its fourth fund with UBS acting as the placement agent. The fourth fund does not include an energy component and is focused exclusively on healthcare.[6][7] Fund IV closed in 2017 with $775 million of committed capital.[8] The former Avista energy team spun-out and formed an independent firm AEC Partners in 2017 and began raising their first fund in 2017. In 2021, Avista closed its fifth fund after raising $1.2 billion in capital, above the original target of $775 million.[9]

Notable investments

In 2007, Avista acquired Bristol-Myers Squibb Co.'s medical imaging unit for $525 million. The company, later renamed Lantheus, went public in 2015.[10]

In 2008, Avista, together with Nordic Capital Fund VII, bought ConvaTec, a wound and ostomy care business, from Bristol-Myers Squibb for $4.1 billion. ConvaTec went public on the London Stock Exchange in 2016 and, in 2017, both funds sold approximately 20% of the company to Danish fund Novo.[11][12]

In 2009, one of Avista's media acquisitions, the Minneapolis Star Tribune newspaper, the nation's 15th-largest daily paper, filed for Chapter 11 bankruptcy.[5][13][14]

In 2010, Avista, together with Ontario Teachers’ Pension Plan, purchased INC Research, a contract research organization, and later took the company public in 2012. Avista exited its position in 2016.[15] Together with DLJ Merchant Banking Partners, Nordic Capital and Coller Capital, Avista sold Swiss drug-maker Nycomed for €9.6 billion in cash to Takeda Pharmaceutical Corp. in 2011.[16] Also in 2011, Avista acquired DataBank Ltd., an enterprise-class managed data center based in Dallas, Texas, and sold the company to Digital Bridge Holdings LLC in 2016.[17] Also in 2010, Avista invested in specialty pharmaceutical company OptiNose Inc. Avista took the company public in 2015.[18]

In 2012, Avista, together with Partners Group, purchased Strategic Partners, a manufacturer and marketer of uniforms and footwear to support healthcare professionals, schools, and parents. In 2016, Avista sold the company to New Mountain Capital.[19]

In 2013, Avista acquired a controlling stake in Vertical/Trigen Holdings for an undisclosed price and, in 2015, the company joined forces with Osmotica Pharmaceutical, a specialty pharmaceutical and generics company.[20] Also in 2013, Avista acquired Zest Dental Solutions, a maker of dental products, from the Jordan Company and, in 2018, Avista sold Zest to BC Partners for an undisclosed amount.[21]

In 2016, Avista acquired the contract research organization MPI Research, a provider of testing services for biopharmaceutical and medical devices. Avista sold the company to Charles River Laboratories for approximately $800 million in cash in 2018.[22] In 2017, Avista acquired Express Scripts’ United BioSource division and National Spine & Pain Centers (NSPC) from Sentinel Capital Partners, both for undisclosed sums.[23] Also in 2017, Avista acquired Miraca Life Sciences, a subsidiary of Japanese clinical diagnostics and laboratory testing company Miraca Holdings Inc.[24]

[25]

In 2018, Avista contributed to a $110 million round of financing for Braeburn Pharmaceuticals.[26] Also in 2018, Avista, together with Dana Holdings, purchased Kramer Laboratories, an over-the-counter healthcare platform. A month later, Kramer Laboratories acquired Nizoral, an anti-dandruff shampoo brand, from Janssen Pharmaceutical NV, part of Johnson & Johnson.[27] Kramer changed its name to Arcadia in 2019 and went on to acquire Naturelo and the US rights to Kaopectate, both in 2020. In August 2021, Avista sold Arcadia to Bansk Group for a return of approximately 3.7 times its investment.[28]

In December 2018, Avista Healthcare Public Acquisition Corp. (AHPAC) acquired regenerative medicine specialist Organogenesis. As part of the deal, Organogenesis became a wholly owned subsidiary of AHPAC, while Avista invested $92 million in the combined company.[29]

In September 2019, Avista acquired California-based medtech component manufacturer GCM Holding Corp. from May River Capital for an undisclosed amount.[30] Also in 2019, Avista sold Trimb Healthcare, an over-the-counter health-care product business, to Karo Pharma.[31]

In January 2021, Avista acquired Solmetex Inc., a provider of waste compliance products, including amalgam separators, for the American and Canadian dental industries.[32] In March 2021, Avista Capital Partners agreed to buy chemical and bioreagent specialist eMolecules for $250 million.[8]

See also

References

  1. ^ Farrell, Maureen (September 2, 2016). "Avista Capital Plans to Launch Blank-Check Company for Health-Care Deals". The Wall Street Journal. Retrieved September 13, 2018. AltAssets, June 14, 2007
  2. ^ Avista closes $2bn fund Archived December 2, 2008, at the Wayback Machine. AltAssets, June 14, 2007
  3. ^ Moore, Heidi (14 June 2007). "Avista fund challenges Credit Suisse". www.fnlondon.com. New York. Retrieved September 13, 2018.
  4. ^ "Avista, With CS Backing, Makes Splashy Debut". PE Hub. 25 June 2007. Retrieved September 13, 2018.
  5. ^ a b Griffith, Erin (16 March 2010). "Better Late Than Never: Avista Closes Second Fund - PE Hub". PE Hub. Retrieved September 13, 2018.
  6. ^ Dan Primack, "Avista Capital Makes Major Change to Fund Strategy," Fortune, December 2, 2015.
  7. ^ Luisa Beltran, "Avista Capital seeks $750 mln to $1 bln for Fund IV: sources," PE Hub, October 20, 2016.
  8. ^ a b "EXCLUSIVE: Avista Capital Partners' eMolecules buyout values company at about $250m". AltAssets. March 25, 2021.
  9. ^ Falconer, Kirk (2 March 2021). "Avista wins healthcare bet with close of Fund V at $1.2bn hard-cap". Buyouts. Retrieved 2021-09-23.
  10. ^ “Avista Selling Shares of Lantheus in Secondary Offering,” The Wall Street Journal, March 14, 2017.
  11. ^ Bill Berkrot and Ransdell Pierson, "Bristol-Myers to sell ConvaTec unit for $4.1 bln", Reuters, May 2, 2008.
  12. ^ "Nordic Capital, Avista Reduce Holding in ConvaTec," The Wall Street Journal, March 29, 2017.
  13. ^ Steller, Chris (January 15, 2009). "A cold day indeed for Minnesota: It's bankruptcy for the Star Tribune". The Minnesota Independent. Archived from the original on 2009-01-19. Retrieved 2009-01-15.
  14. ^ Schmickle, Sharon (January 15, 2009). "Strib files for bankruptcy and lists unsecured creditors". MinnPost. Archived from the original on January 21, 2009. Retrieved 2009-01-15.
  15. ^ Akinnibi, Fola (17 August 2016). "PE-Backed Inc Research Unveils $204M Secondary Share Sale". Law360. Retrieved 21 September 2018.
  16. ^ Primack, Dan (19 May 2011). "M&A Deals". Fortune. Retrieved 21 September 2018.
  17. ^ Baker, Liana (July 14, 2016). "Digital Bridge acquires data center company". Reuters. Retrieved December 4, 2017.
  18. ^ Armie Margaret Lee, "OptiNose Gears Up for a Big Year," TheStreet.com, October 30, 2017.
  19. ^ Dorbian, Iris (6 July 2016). "Partners Group and Avista to exit medical scrubs provider Strategic Partners". PE Hub. Retrieved 22 September 2018.
  20. ^ Braden Kelner, "Avista-Backed Vertical/Trigen to Merge With Osmotica," The Wall Street Journal, December 4, 2015.
  21. ^ "BC Partners Buys U.S. Dentistry Products Maker," Private Equity News, February 9, 2018.
  22. ^ Dorbian, Iris (14 February 2018). "PE-backed Charles River to buy MPI Research for about $800 mln". PE Hub. Retrieved 22 September 2018.
  23. ^ "Avista to Buy Express Scripts Subsidiary". The Wall Street Journal. 27 November 2017. Retrieved 21 September 2018.
  24. ^ "Avista to Buy Miraca Life Sciences," The Wall Street Journal, September 22, 2017
  25. ^ In November 2017, Express Scripts announced it was divesting United BioSource Corp. (UBC), its pharmaceutical support business. UBC was sold to Avista Capital Partners.
  26. ^ Matthew Guarnaccia, "Opioid Addiction Treatment Co. Nabs $110M For New Product," Law360, January 11, 2018.
  27. ^ Laura Cooper, “Kramer Laboratories Acquires Dandruff Shampoo Brand,” The Wall Street Journal, June 25, 2018.
  28. ^ Sarah Pringle, "Avista to Make 3.7 Times its Money with Sale of Arcadia Consumer Healthcare," PE Hub, August 9, 2021.
  29. ^ Densford, Fink (December 11, 2018). "Shareholders approve Avista, Organogenesis tie up". Mass Device.
  30. ^ Cromwell Schubarth, "The Funded: Over $1B in new funding deals and 5 IPO filings in Bay Area this week," Silicon Valley Business Journal, September 4, 2019.
  31. ^ Laura Cooper, "Avista Capital Backs Consumer Health-Care Company in $336 Million Deal," The Wall Street Journal, May 31, 2020.
  32. ^ Maqbool, Abdul Rehman (January 19, 2021). "Avista Capital acquires dental waste management product company Solmetex". S&P Global.

Read other articles:

Crystal Oceanie

Crystal OceanieLahir30 April 1989 (umur 34)Jakarta, IndonesiaKebangsaanIndonesiaDikenal atasPembawa Acara, Aktris, Model Crystal Oceanie (lahir 30 April 1989) merupakan seorang pembawa acara dan aktris Indonesia. Dia memulai karier saat menjadi model di Soopergirl Hunt tahun 2014. Dia membawakan acara utamanya seperti kuis Piala Dunia FIFA 2018, One Pride Quiz dan masih banyak lagi. Acara TV Kuis Piala Dunia FIFA 2018 (Trans TV) One Pride Quiz (tvOne) Uang Kaget (GTV) Ayo Hidup Sehat (t...

 

Universitas Liberty

Liberty UniversityNama sebelumnyaLynchburg Baptist CollegeLiberty Baptist CollegeMotoKnowledge Aflame[1]JenisPrivateDidirikan1971Afiliasi akademikSACSNAICUACECURCRLDana abadi$1.29 billion[2]PresidenJerry Falwell Jr.Staf akademik2,500Jumlah mahasiswa110,000+[3] 15,000+ (residential) 100,000+ (online)Sarjana50,000+[4]Magister50,000+[5]LokasiLynchburg, Virginia, U.S.KampusSuburban 7.000 ekar (28 km2)WarnaRed, Blue[6]Templat:College color boxes...

 

Kambing (shio)

Artikel ini tidak memiliki referensi atau sumber tepercaya sehingga isinya tidak bisa dipastikan. Tolong bantu perbaiki artikel ini dengan menambahkan referensi yang layak. Tulisan tanpa sumber dapat dipertanyakan dan dihapus sewaktu-waktu.Cari sumber: Kambing shio – berita · surat kabar · buku · cendekiawan · JSTOR Shio kambing adalah salah satu dari 12 shio yang ada dalam penanggalan Tionghoa. Orang yang memiliki shio kambing dalam kepercayaan T...

Pasar Gede Harjonagoro

Pasar Gede beralih ke halaman ini. Untuk kota di Persia kuno, lihat Pasargadae.Artikel ini membutuhkan rujukan tambahan agar kualitasnya dapat dipastikan. Mohon bantu kami mengembangkan artikel ini dengan cara menambahkan rujukan ke sumber tepercaya. Pernyataan tak bersumber bisa saja dipertentangkan dan dihapus.Cari sumber: Pasar Gede Harjonagoro – berita · surat kabar · buku · cendekiawan · JSTOR (Oktober 2023)Pasar Gede HarjonagoroPasar Gede Hardjon...

 

Leonia, New Jersey

Borough in Bergen County, New Jersey, US Leonia redirects here. For other uses, see Leonia (disambiguation). Borough in New JerseyLeonia, New JerseyBoroughVreeland House SealLocation of Leonia in Bergen County highlighted in red (left). Inset map: Location of Bergen County in New Jersey highlighted in orange (right).Census Bureau map of Leonia, New Jersey Interactive map of Leonia, New JerseyLeoniaLocation in Bergen CountyShow map of Bergen County, New JerseyLeoniaLocation in New JerseyShow m...

 

Homo antecessor

Homo antecessorRentang fosil: Pleistosen Awal Klasifikasi ilmiah Kerajaan: Animalia Filum: Chordata Kelas: Mammalia Ordo: Primates Famili: Hominidae Subfamili: Homininae Genus: Homo Spesies: H. antecessor Nama binomial †Homo antecessorBermudez de Castro et al., 1997 Linimasa homininKotak ini: lihatbicarasunting−10 —–−9 —–−8 —–−7 —–−6 —–−5 —–−4...

João Batista Nunes de Oliveira

Nunes Nazionalità  Brasile Altezza 178 cm Peso 70 kg Calcio Ruolo Attaccante Termine carriera 1991 Carriera Giovanili 1970-1973 Flamengo Squadre di club1 1974-1975 Confiança? (?)1975-1978 Santa Cruz64 (37)1978-1979 Fluminense12 (2)[1]1980 Monterrey0 (0)1980-1982 Flamengo45 (29)1983 Botafogo7 (3)1984 Flamengo15 (5)1985 Santos0 (0)1985 Náutico17 (8)1986 Atlético Mineiro18 (5)1986-1987 Boavista9 (4)1987 Flamengo8 ...

 

Fort Douglas

For other uses, see Fort Douglas (disambiguation). This article needs additional citations for verification. Please help improve this article by adding citations to reliable sources. Unsourced material may be challenged and removed.Find sources: Fort Douglas – news · newspapers · books · scholar · JSTOR (May 2009) (Learn how and when to remove this template message) United States historic placeFort DouglasU.S. National Register of Historic PlacesU.S. N...

 

Shikumen

Shikumen (Hanzi sederhana: 石库门; Hanzi tradisional: 石庫門; Pinyin: Shíkùmén; harfiah: 'Gerbang Gudang Batu'; Dialek Shanghai: zakumen) adalah sebuah gaya arsitektural Shanghai tradisional yang memadukan unsur-unsur Barat dan Tionghoa yang mula-mula muncul pada 1860an.[1] Pada puncak popularitasnya, terdapat 9000 bangunan bergaya shikumen di Shanghai, yang meliputi 60% dari total stok perumahan di kota tersebut,[2] namun kini jumlahnya rendah ketimb...

César Vallejo

Peruvian writer For the football club, see Club Deportivo Universidad César Vallejo. For the volleyball club, see CV Universidad César Vallejo. For the university, see César Vallejo University. In this Spanish name, the first or paternal surname is Vallejo and the second or maternal family name is Mendoza. César VallejoVallejo in 1929BornCésar Abraham Vallejo MendozaMarch 16, 1892Santiago de Chuco, La Libertad, PeruDiedApril 15, 1938 (aged 46)Paris, FranceOccupationPoet, writer, ...

 

Associazione Calcio Venezia 2000-2001

Voce principale: Foot Ball Club Unione Venezia. A.C. VeneziaStagione 2000-2001Sport calcio Squadra Venezia Allenatore Cesare Prandelli Presidente Maurizio Zamparini Serie B4º posto (promosso in A) Coppa ItaliaOttavi di finale Maggiori presenzeCampionato: Marasco (37) Miglior marcatoreCampionato: Di Napoli (16) StadioStadio Pierluigi Penzo 1999-2000 2001-2002 Si invita a seguire il modello di voce Questa voce raccoglie le informazioni riguardanti l'Associazione Calcio Venezia nelle comp...

 

Mad Thinker

Marvel Comics fictional character This article is about the Marvel Comics villain. For the DC Comics villains, see Thinker (DC Comics). This article has multiple issues. Please help improve it or discuss these issues on the talk page. (Learn how and when to remove these template messages) This article relies excessively on references to primary sources. Please improve this article by adding secondary or tertiary sources. Find sources: Mad Thinker – news · newspapers...

ヨハネス12世 (ローマ教皇)

ヨハネス12世 第130代 ローマ教皇 教皇就任 955年12月16日教皇離任 964年5月14日先代 アガペトゥス2世次代 レオ8世個人情報出生 937年スポレート公国（中部イタリア）スポレート死去 964年5月14日 教皇領、ローマ原国籍 スポレート公国親 父アルベリーコ2世（スポレート公）、母アルダその他のヨハネステンプレートを表示 ヨハネス12世（Ioannes XII、937年 - 964年5月14日）は、ロ...

 

Memory, Sorrow and Thorn

The Dragonbone Chair, novel pertama dalam saga epik Memory, Sorrow, and Thorn. Memory, Sorrow, and Thorn adalah trilogi fantasi epik buatan Tad Williams, yang meliputi The Dragonbone Chair (1988), Stone of Farewell (1990), dan To Green Angel Tower (1993). Publikasi paperback dari To Green Angel Tower terbagi dalam dua volume, sehingga para pembaca paperback menganggap Memory, Sorrow, and Thorn sebagai sebuah tetralogi ketimbang sebuah trilogi. Dunia Memory, Sorrow, and Thorn Buku-buku tersebu...

 

Lillesand

Municipality in Agder, Norway This article is about the municipality in Southern Norway. For the town in this municipality, see Lillesand (town). Municipality in Agder, NorwayLillesand Municipality Lillesand kommuneMunicipalityBlindleia in Lillesand FlagCoat of armsAgder within NorwayLillesand within AgderCoordinates: 58°14′49″N 08°19′01″E / 58.24694°N 8.31694°E / 58.24694; 8.31694CountryNorwayCountyAgderDistrictSørlandetEstablished1 Jan 1838 • ...

Vasil Levski

Bulgarian revolutionary (1837–1873) For other uses, see Vasil Levski (disambiguation). In this Bulgarian name, the patronymic is Ivanov and the family name is Kunchev. Vasil LevskiВасил ЛевскиBornVasil Ivanov Kunchev(1837-07-18)18 July 1837Karlovo, Eyalet of Adrianople, Ottoman EmpireDied18 February 1873(1873-02-18) (aged 35)Sofia, Danube Vilayet, Ottoman EmpireCause of deathExecution by hangingResting placeSofia, BulgariaOccupationRevolutionaryKnown forInterna...

 

Organisasi Pembebasan Palestina

Artikel ini membutuhkan rujukan tambahan agar kualitasnya dapat dipastikan. Mohon bantu kami mengembangkan artikel ini dengan cara menambahkan rujukan ke sumber tepercaya. Pernyataan tak bersumber bisa saja dipertentangkan dan dihapus.Cari sumber: Organisasi Pembebasan Palestina – berita · surat kabar · buku · cendekiawan · JSTOR Organisasi Pembebasan Palestina منظمة التحرير الفلسطينيةMunaẓẓamat at-Taḥrīr al-Filasṭīniyya...

 

New Renaissance Party

Political party in Japan New Renaissance Party Shintō Kaikaku 新党改革 PresidentHiroyuki AraiFoundersHideo WatanabeHiroyuki AraiFounded23 April 2010 (2010-04-23)Dissolved25 July 2017Headquarters2-16-5, Hirakawacho, Chiyoda, Tokyo, JapanIdeologyConservatism[1]Websiteshintokaikaku.jpPolitics of JapanPolitical partiesElections The New Renaissance Party (新党改革, Shintō Kaikaku) was a minor political party in Japan. History The NRP is the successor to the Jap...

Мерва (пчеловодство)

Мерва — продукт пчеловодства, остаток после перетопки старых сот. Мерва состоит из остатков личинок пчёл, перги, кокона и других продуктов жизнедеятельности пчёл. Мерва имеет вид комковатой массы чёрного или тёмного-бурого цвета, в которой сложно различить отдельные...

 

Recep Tayyip Erdoğan

Disambiguazione – Erdoğan rimanda qui. Se stai cercando altri significati, vedi Erdoğan (disambigua). Recep Tayyip Erdoğan 12º Presidente della TurchiaIn caricaInizio mandato28 agosto 2014 Vice presidenteFuat Oktay (2018-2023) Cevdet Yılmaz (2023-) Capo del governoAhmet DavutoğluBinali Yıldırım(carica abolita nel 2018) PredecessoreAbdullah Gül 25º Primo ministro della TurchiaDurata mandato14 marzo 2003 –28 agosto 2014 PresidenteAhmet Necdet Seze...