Deals in Focus

Deals in Focus | US Large Cap 27th January 2020
27th January 2020 Atheneum Team
27th January 2020

Key Atheneum Experts

Former VP Business Development – Orion
Former Director of Product Management – Orion
Former VP Business Development – Portfolio Pathway (rival)

Key Information

Technology
HQ – US
Operations – Global

Orion Advisor Solutions are expected to be put up for sale soon by TA Associates. The private equity firm are said to have hired Raymond James to advise on the process with sources valuing the firm around $1.875bn. Orion provide portfolio management technology and according to their website they have served over 2000 advisory firms with $1trn total assets under administration.

Key Atheneum Experts

Former Senior Sales Manager (10 years) – CORA Health Services
Former Regional Manager – CORA Health Servives
Division Vice President – RehabCare Group (rival) +30 Years’ Industry Experience

Key Information

Healthcare
HQ – US
Operations – US

Physical therapy provider CORA Health Services are being prepped for market by Gryphon Investors. Jefferies are advising on the sale process which is expected to kick off late Q1/early Q2 this year. CORA provide outpatient treatment for work and sport-related injuries, orthopaedic issues and a variety of other conditions. Sources estimate a 2020 EBITDA of $45m and expect the valuation to be at a double-digit multiple. CORA operate more than 200 clinics and employ more than 1800 in the United States.

Key Atheneum Experts

Former VP of Product Marketing – MedeAnalytics
Former VP Consulting – MedeAnalytics
Formeer Senior Solutions Architect – Medecision (rival)

Key Information

Healthcare
HQ – US
Operations – Global

Provider of healthcare software solutions, MedeAnalytics, are being considered for sale. Backed by PE firm Thoma Bravo, the firm is being marketed to potential buyers at a $27m 2019 EBITDA. Jefferies & Co. are advising on the potential sale. The firm’s health-care analytics platform aims to help organisations such as public health agencies find risk, bolster financial performance and improve quality of care. Thoma Bravo have owned a majority stake in MedeAnalytics since 2015.

Key Atheneum Experts

Former SVP Strategy – ICP Group
Former Regional Sales Manager – ICP Group
Board CFO – McGean (rival)

Key Information

Industrial
HQ – US
Operations – Global

Innovative Chemical Products, a specialty platform company in the coatings, adhesives, sealants and elastomers (CASE) markets, are being prepped for sale by holders Audax Group. Sources value the firm at $700m including debt. ICP was formed in 2016 through a combination of Audax-owned companies and has made several acquisitions since. ICP is expected to attract interest from other private equity firms.

Key Atheneum Experts

Former VP Marketing – From the Earth
Board Member – MedMen (rival)
Former Head of operations – Harvest Inc. (rival)

Key Information

Consumer Goods
HQ – US
Operations – US

LA-based cannabis products company, From the Earth, are seeking to trade on the Tel Aviv Stock Exchange and raise $100m from local investors. The proceeds from the capital raised will be used to bolster its US operations. If Israeli regulators allow a foreign business with no Israeli business operations to trade on TASE, FtE will merge into a listed shell company called KMN Capital. The listing would value the US cannabis producer at ILS 160m ($46m).