PE Today: THL Creates E-Commerce Logistics Company with Merger

Read the top headlines from Monday, April 18, 2022 below:

Ampersand Takes Minority Stake in Life Sciences Co. Syft

Ampersand Capital Partners, a private equity firm targeting life sciences and healthcare businesses, announced in a press release that it has acquired a minority stake in Syft Technologies, a mass spectrometry (SIFT-MS) company, which will help the New Zealand business further its growth within the semiconductor market. In a statement, Ampersand partner David Patteson said the company’s “life science market pull, applications, and commercial expertise, combined with Ampersand’s investments, should allow for meaningful penetration and adoption rates.”

FFL Partners Invests in Primary Care Clinic

Private equity firm FFL Partners announced that it has completed its investment in Perlman Clinic, a primary care provider in the greater San Diego area. According to FFL managing partner Chris Harris, “Perlman Clinic reflects exactly what we look for in an investment, a high-growth business in healthcare services where we can deploy our healthcare playbooks to help meet the strong demand for high-quality care.” He also pointed to the San Diego region as an attractive one for this market considering its high population of seniors. FFL’s investment will support Perlman as it opens new locations, expands telemedicine services and initiates the acquisition of additional practices. Financial terms of the deal were not disclosed.

Related content: Assessing Value & Risk in Healthcare Transactions

THL Merges MHS Global and Fortna to Launch E-Commerce and Distribution Conglomerate

Thomas H. Lee Partners (THL) is combining two of its portfolio companies to create a multibillion dollar e-commerce and logistics company. THL-owned MHS Global, which provides material handling automation technology, as well as Fortna, a warehouse and distribution software company, are combining to create a new multinational company that will continue to be owned by THL. The combined entity will also remain a wholly-owned subsidiary of the Abu Dhabi Investment Authority, which will acquire a minority stake in the new company.

Financial terms of the transaction were not disclosed. In a statement, THL managing director and head of its Technology & Business Solutions as well as the THL Automation Fund, said, “Automation solves industry-wide challenges, such as labor shortages, and helps customers meet escalating demand. These two companies are well positioned to meet these challenges and unlock new opportunities for their customers.”