Good morning, Hubsters. MK Flynn here with today’s Wire.
In his annual letter to shareholders this morning, Jamie Dimon shared insights on the Silicon Valley Bank debacle, including the role venture capital firms played.
But first, I’ve got a slew of private equity-backed deals announced this morning to share with you, including several in healthcare.
Plus a deep dive into one of Yellow Wood’s platforms.
Let’s get right to today’s deals.
Household names: Solarcaine & A+D
WellSpring Consumer Healthcare, a Sarasota, Florida-based developer of over-the-counter and personal care brands backed by mid-market PE firm Avista Capital Partners, has acquired a portfolio of well-recognized OTC skin care brands from Bayer AG, including sunburn relief brand Solarcaine and diaper rash protectant A+D.
Faster prescriptions
Eir Partners, a Miami-based private equity firm that invests in high-growth healthcare companies, has taken a majority interest in Gifthealth, a Columbus, Ohio-based pharmaceutical software developer that seeks to streamline the Rx experience through intelligent scripts.
Women’s soccer
The National Women’s Soccer League today announced it has awarded expansion rights for team #14 to an investment group representing the Bay Area, California, and led by majority investor Sixth Street.
On a roll
Oak Hill Capital and Genstar Capital-backed Mercer Advisors continues its add-on streak.
The Denver-based wealth management and financial planning firm has acquired dozens of companies over the last couple of years. Today, Mercer announced it has purchased Andesa Financial Management, a wealth management firm located in Allentown, Pennsylvania.
Sexual wellness
Beyond today’s deals, we’ve got a look at one private equity firm’s foray into a new area.
A year ago, Boston-based mid-market buyout shop Yellow Wood Partners generated industry chatter when it announced the formation of a new sexual wellness platform called Beacon Wellness Brands, with PlusOne as the anchor brand.
Iris Dorbian caught up with Yellow Wood principal Jennifer Roach to see how the platform is evolving.
“We all have been hearing about men’s sexual wellness for years with the hundreds of millions of dollars of media spent on Viagra,” said Roach. “It is time for the rest of our society to share in that experience.”
Not the finest hour
Jamie Dimon’s annual letter to shareholders is always worth reading, and this time the chairman and CEO of JPMorgan Chase & Co. weighs in on what went wrong at Silicon Valley Bank.
To see Dimon’s insights on the role of venture capital firms and their portfolio companies, plus his perspective on banking regulations, read the full version of the Wire.
On that note, I’ll sign off.
Chris Witkowsky will bring you Wednesday’s Wire, and I’ll be back on Thursday.
Until then, happy dealmaking,
MK
Read the full wire commentary on PE Hub ...
