| View this email online The Wire Nov. 9, 2021 Summit's InnovaCare evaluates sale, WCAS invests in Leiters in partnership transaction, VSS backs newly-formed architecture, engineering and construction platform Good morning! Value-based: Following the sale of InnovaCare’s Puerto Rico-based assets earlier this year, Summit Partners is seeking a buyer for its remaining Florida-based value-based primary care platform, according to four sources familiar with the matter. JPMorgan Securities is providing sell-side financial advice on the process and the company has already received first round bids, the people said. While value-based care companies continue to command heightened levels of private equity investment broadly speaking, the rapid M&A-driven growth of its Florida operations adds complexity in valuing the business. Bidders view real EBITDA around... check out my full report on PE Hub. Just in: Welsh, Carson, Anderson & Stowe has struck another partnership deal, acquiring a majority stake in Leiters, a rapidly growing leader in the FDA-regulated 503B outsourced pharmaceutical compounding industry. A number of additional investors are joining the investor base, including Intermountain Ventures, Novant Health, Rex Health Ventures, Spectrum Health Ventures and UNC Health. Read more on PE Hub. And, VSS Capital Partners invested in The HFW Companies, forming a new platform company focused on consolidating the fragmented universe architecture, engineering and construction (AEC) service firms. The firm’s initial investment in HFW was between $20 million and $30 million and could increase, according to sources familiar with the deal. Read Aaron Weitzman's full report on PE Hub. That’s it for me! Have a great week ahead, hubsters! As always, write to me at springle@buyoutsinsider.com with any tips, gossip or feedback. Read the full wire commentary on PE Hub... Also of note (may require subscriptions) Target: Bison Capital Asset Management, a structured capital investor in growing mid-market companies, is seeking $500 million for its latest flagship offering. The target for Bison Capital Partners VI was disclosed in a recent report issued by Arkansas Teacher Retirement System. The pension plan agreed to commit $30 million. Read it on Buyouts. Buy-and-build: Confluence Technologies, a investment management technology provider backed by Clearlake and TA, has agreed to acquire Compliance Solutions Strategies, a global regulatory software company. This marks Confluence’s second acquisition in a week, coming on the heels of an announcement to buy Investment Metrics. Read it on PE Hub. Doubling down: Apollo has hired former Amazon.com executive Carletta Ooton to bolster the firm’s environmental, social and governance expertise, the latest in a series of high-profile ESG hires by the firm in recent months, writes WSJ Pro. Read it here. PE Deals They said it “Focus where it matters. Pay attention to where you can make a difference." CalPERS’ Anne Simpson, who leads board governance and sustainability at the California pension investor, told New Private Markets during a video interview. Today's letter was prepared by Sarah Pringle Subscribe now to get full, unlimited access to all PE Hub content, including every PE Hub Wire article. FIND OUT MORE Please visit Buyouts for the latest insight into LP activity and Venture Capital Journal for comprehensive coverage and analysis of what’s happening in VC. London | New York | Hong Kong PEI Media Group Ltd is registered in England no.6135779 Registered office: 7th Floor, 100 Wood Street, EC2V 7AN To update your PE Hub email preferences, or to unsubscribe, click here. | 