| Avista to make 3.7x its money on Arcadia Consumer Healthcare; Great Point Partners' Softbox hits the market
Happy Monday, everybody!
Today we’ve got another example of sector specialism paying off, plus a healthcare packaging business hitting the auction block as it helps tackle the supply chain needs of the covid-19 crisis.
Gains: In 2005, Avista Capital Partners spun out from DLJ Merchant Banking, opting then to solely focus Avista Capital Partners IV on healthcare. Its dedication to healthcare appears to be a good move. The New York firm is poised to produce an approximately 3.7x gross multiple of invested capital with the sale of Arcadia Consumer Healthcare to Bansk Group, according to an LP letter. The sale comes just over three years into Avista’s investment. Under its hold period, Arcadia has built out a portfolio of consumer healthcare products that includes premium vitamin and nutritional supplements, and OTC medicines in the therapeutic hair care, foot care, digestive health and specialty cough categories. Accounting for the Arcadia proceeds, the firm’s fourth buyout fund will have generated... Check out my full report on PE Hub.
For sale: Great Point Partners has kicked off a sale process for Softbox, a UK-based provider of passive temperature controlled packaging for pharmaceutical companies, according to four people familiar with the firm’s plans. Baird is advising on the process. Softbox has developed a range of vaccine parcel shippers and pallet shipping systems capable of safely and securely transporting temperature-sensitive vaccines – ultimately supporting their global distribution, its website states. For sponsors evaluating the business, sources said, determining what forward-looking normalized EBITDA will look like will be a key question. That said, the supply chain demands of vaccines are not poised to go away. For the difference between passive and active containers, plus financials and more, read my full report on PE Hub.
Read the full wire commentary on PE Hub...
Also of note (may require subscriptions) New gig: Percheron Capital, launched by two ex-Golden Gate executives last year and raising its debut fund, hired another former colleague, Buyouts writes. Ben Lee, a vice president at Golden Gate Capital, left and recently joined Percheron. Read it on Buyouts.
For sale: Z Capital Group LLC is exploring a sale of Twin Star Home, a maker of furnishings such as grill covers, standing desks and electric fireplaces, Bloomberg writes, citing people with knowledge of the matter. Read it here.
Secondaries: There’s been more shuffling at the top of CPP Investments‘ private equity group, a week after the Canadian pension giant said it had promoted its head of Asia-Pacific to global head of private equity, writes Secondaries Investor. Read it here.
PE Deals 
They said it “With the EU, US, Israel and China all ordering covid booster vaccines for 2022 (for a minimum, the elderly and immune compromised as the vaccines are less effective in these groups), Covid is not a “bump” but a continuing, recurring viral epidemic that will take years to get under control." GPP managing director and co-founder Jeffrey Jay told PE Hub.
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