Zug, Switzerland-based Partners Group has purchased healthcare and wellness platform Careismatic Brands Inc. from New Mountain Capital for about $1.3 billion.
“The medical and nursing community, in particular, have been under a tremendous amount of strain, and this is a company that has been able to service this market well and has been able to help nurses feel good about how they come to work,” says Partners co-CEO David Layton. “They have very interesting product lines, such as adaptive clothing and anti-microbial laundry solutions that have become increasingly important during Covid.”
Baird, Jefferies LLC, and UBS Investment Bank are acting as financial advisors to Careismatic and New Mountain and Kirkland & Ellis LLP are providing legal counsel. An arranger group led by UBS is providing financing for the acquisition.