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| Altas teams up with Ares to invest in Unified Women's Healthcare, TSG Consumers' Aphria buys SweetWater Brewing for $300mn |
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| Friday, October 09, 2020 |
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Good morning!
Investors are in it for the long haul at Unified Women's Healthcare. Toronto’s Altas Partners has partnered with Ares Management to fuel growth at one of the country’s largest providers of practice management services to OB/GYNs, according to people with knowledge of the deal.
Altas, a long-life investor which picks only one or two companies for acquisition per year, will become the largest investor in the company, while Ares is set to remain a significant minority owner and plans to write a sizable new equity check, they said. Check out my full story for more detail.
It’s worth noting that although Ares ultimately chose to bring on a new investor, the women’s healthcare platform also seriously weighed a SPAC, sources told me.
Why is that? Businesses the likes of Unified are viewed as a long-term play on both primary care and value-based care, or reimbursement based on quality versus the number of patient visits or procedures. A number of value-based primary care startups such as Oak Street Health or One Medical have produced successful public debuts – contributing to a perception that a company like Unified could make a strong SPAC merger candidate, sources said. Adding to that, other alternate site healthcare providers like home health or physical therapy companies are trading at really attractive valuations.
Are you aware of any SPAC deals brewing? Hit me up.
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| Top Scoops |
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TSG Consumer Partners-backed Aphria, a cannabis company, is getting into the business of craft brewing. Aphria has agreed to acquire SweetWater Brewing Company for about $300 million. Aphria’s other investors include Delavaco Capital. Read our brief on PE Hub.
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That’s it for today’s rundown. As always, write to me at springle@buyoutsinsider.com with any tips, comments or just to say hello!
Sarah
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| Veeam acquires Kasten |
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| Shipa lands $3.75m seed |
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| Claravine inks $5m Series A |
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