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DuneGlass outlines medspa strategy; Renovus exits LeapPoint; Mercer Advisors scoops up sixth add-on

Good morning dealmakers, it’s Obey Martin Manayiti with the US edition of the Wire from the New York newsroom.

The medspa market is rapidly growing in the US, and investors are noticing. This morning we are going deep into the strategy by independent sponsor DuneGlass Capital to attract add-ons for its new platform, Aviva Aesthetics. Daniel Hosler, co-founder and managing partner talks about his firm’s alternative approach to traditional PE models.

Next, we are turning to today’s deal news. First, we have an exit in which Renovus Capital Partners sold LeapPoint, a digital advisory firm, to Omnicom.

Secondly, Mercer Advisors, a portfolio company of Oak Hill Capital, Genstar Capital, and Altas Partners has announced its sixth add-on this year, underscoring the appetite among PE firms to scale wealth management businesses.  

Finishing up, we are featuring a recent Harris Williams report that is forecasting an improvement in M&A activity in the pharmaceutical sector in the upcoming months.

Different approach

Independent sponsor DuneGlass Capital wants to attract medspa add-ons for its new platform, Aviva Aesthetics, by educating owners about the pros and cons of private equity and the firm's alternative approach to traditional PE models, Daniel Hosler, co-founder and managing partner, told John R Fischer.

The Chicago-based growth-oriented firm partners with healthcare service businesses to form doctor- and entrepreneur-owned management service organizations (MSOs).

Premium subscribers to the Wire can learn more about DuneGlass Capital’s strategy.

It’s an exit

Renovus Capital Partners has announced the sale of LeapPoint, a Reston, Virginia-based digital advisory firm, to Omnicom.

Upgrade to the premium version of the Wire to learn more.

Adding on

Today, Mercer Advisors completed its six add-on for the year, with the acquisition of Kiely Wealth Advisory Group, a North Carolina-based wealth management firm. Mercer Advisors is backed by Oak Hill Capital, Genstar Capital, and Altas Partners.

Premium subscribers have access to more on this deal.

M&A rebound in pharma services

While the outsourced pharma services subsector has yet to see a full recovery from recent slowdowns, its long-term fundamentals remain strong, as is investor appetite for quality businesses, according to a report from investment bank Harris Williams.

Upgrade to the premium version of the Wire to learn more about the nuggets raised in the report.

Care to weigh in?

It’s the first day of Q4, and we’d love to hear forecasts from our readers about dealmaking in the final quarter, especially with interest rates finally starting to go down and with the election coming up. I’d love to hear from you at obey.m@pei.group.

Craig McGlashan, Europe editor, will bring you tomorrow’s Europe Wire, while Rafael Canton will bring you the US edition.

Cheers,

Obey

Read the full Wire commentary on PE Hub ...

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They said it

“People are realizing that if they are going to live into their 70s, 80s and 90s, how their smile, vision and skin looks and how they feel about themselves really matters. We think those are good long-term drivers of growth that are attracting folks like DuneGlass Capital.”

— Daniel Hosler, co-founder and managing partner at DuneGlass, regarding his firm’s strategy for building medspas