PE Today: Health and Wellness Take M&A Center Stage
M&A activity lands across fitness, emergency healthcare, and natural foods
Read the top headlines from Monday, May 2, 2022 below:
PE-Backed Emergency Care Partners Announces Merger
Emergency Care Partners (ECP), an emergency medicine and emergency department services provider backed by private equity firms Varsity Healthcare Partners and Regal Healthcare Capital Partners, has announced a strategic merger. A press release Monday (May 2) said ECP will merge with Arizona Emergency Medicine Specialists, which provides outsourced emergency department management services. The combined entity will operate across 43 locations with a. clinical workforce of more than 700 physicians and other providers. Together, the combined company will leverage ECP’s strategy of local physician partnerships and its analytics platform to elevate emergency care, the announcement said.
Harris Williams Advises on Altamont Capital’s Exit of Excel Fitness
Investment bank and M&A advisor Harris Williams has said in an announcement that it advised Excel Fitness Holdings, a portfolio company of Altamont Capital, on its sale to middle-market private equity firm Olympus Partners. Excel Fitness operates as a Planet Fitness franchisee, and will join Olympus Partners at a time of “the continued return of large-scale. Transactions in the fitness industry,” according to Harris Williams director Zach England, who added that the fitness sector is slated to witness new club openings and growing member levels in a post-COVID market.
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Ardian and MidOcean-Backed FFP Strikes Second Add-on Acquisition
Clean label food and beverage ingredient company Florida Food Products (FFP) said in an announcement Monday that it has acquired T-Bev, its second add-on acquisition under the Ardian/MidOcean Partnership. Private equity firm Ardian and alternative asset management firm MidOcean Partners joined in 2021 to invest in FFP and accelerate its growth via research and development as well as strategic acquisitions. The investment by FFP in T-Bev will expand its presence in natural food ingredients, the announcement said.
