Deals in Focus

Deals in Focus | US Large Cap 10th February 2020
10th February 2020 Atheneum Team
10th February 2020

Key Atheneum Experts

Former SVP Sales & Business Development – Virgin Pulse
Former Strategic Director – Virgin Pulse
Former Director of Marketing – WellRight (rival)

Key Information

Healthcare
HQ – US
Operations – Global

Marlin Equity Partners are readying healthcare IT firm, Virgin Pulse, for a sale that could be valued at more than $2bn. The company designs technology to aid with health tracking, fitness and employee wellness. Morgan Stanley have been brought on board to advise on potential proposals. Marlin initially acquired Virgin Pulse and RedBrick Health in 2018, merging them under the Virgin Pulse name.

Key Atheneum Experts

Former Senior Business Development Director – PCI Pharma
Former VP Corporate Development – PCI Pharma
Former SVP Business Development – Mikart (rival)

Key Information

Pharmaceuticals
HQ – US
Operations – Global

Partners Group are reportedly evaluating a potential $2bn sale of PCI Pharma and reports claim that the interviewing of potential advisers is set to start shortly. Partners Group originally purchased the Philadelphiabased firm from Frazier Healthcare Partners back in June 2016 for just over $1bn (including debt).

Key Atheneum Experts

Former CIO – ECI Software Solutions
Former VP of Sales – ECI Software Solutions
Former VP Cloud Solutions – QAD (rival)

Key Information

Technology
HQ – US
Operations – Global

Apax Partners are intending to sell a 50% stake in ECi Software Solutions. The Texan firm provides cloud-based business applications software and ERP technology to SMEs, in a variety of different industries. ECI generated $111m EBITDA in 2019. Apax are looking to sell their stake at a price which would value the total firm at $2.5bn.

Key Atheneum Experts

Former Director of Merchandising – Victoria’s Secret
Former Regional Vice President – Victoria’s Secret
Senior Director – Calvin Klein (rival)

Key Information

Consumer Goods
HQ – US
Operations – Global

Rumours of a potential exit for well-known lingerie retailer, Victoria’s Secret, from L Brands materialised recently. Poor holiday sales following two consecutive annual revenue declines are heavily weighing down L Brand’s performance. Taking Victoria’s Secret private seems a likely option in order to address changing industry trends and consumer habits.

Key Atheneum Experts

Former VP Sales – Arcserve
Former Director Global Marketing Strategy – Arcserve
Global Events Director – Veeam Software (rival)

Key Information

Technology
HQ – US
Operations – Global

Data protection, recovery and replication provider, Arcserve, are up for sale by Marlin Equity. The sale is likely to go for around $500m with the firm generating a $30m EBITDA figure last year. Arcserve were initially acquired by Marlin back in May 2014. In 2017 Arcserve acquired Zetta, an enterprise-cloud disaster recovery provider, and now have just under 500 employees worldwide.