Press Releases

Vestar Capital Partners Promotes Ian Singleton To Vice President

NEW YORK, NY – September 7, 2021 - Vestar Capital Partners, a leading U.S. private equity firm, announced today it has promoted Ian Singleton to Vice President.

"Ian is an invaluable member of the team and has taken an active role across many of our consumer and business & technology services-focused investments," said Dan O'Connell, Founder and CEO of Vestar. "We congratulate Ian and look forward to his increasing contribution as the firm grows and moves forward."

Ian joined Vestar in 2019, having previously worked as at Ares Management in their U.S. Direct Lending Group. He began his career in the Financial Sponsors Group at Citigroup. Ian graduated magna cum laude from Duke University with a B.A. in Psychology, a minor in Economics, and a certificate in Markets and Management Studies.

by Kimberly Lu

Mercury Healthcare Launches as the New Brand for Healthgrades Enterprise Software, Technology and Data Analytics Company, Formerly Known as Healthgrades

by Kimberly Lu

Mercury Healthcare Sells Healthgrades.com to RV Health

CHARLOTTE, NC and DENVER, CO – August 4, 2021 – RV Health, a Red Ventures business, has acquired Healthgrades.com from Mercury Healthcare, the new brand for the separate enterprise-wide technology and data platform for health systems formerly known as Healthgrades. Healthgrades.com is the leading online marketplace to find and connect with the right doctor, the right hospital and the right care. Half of all Americans who visit a doctor this year will visit Healthgrades.com as part of their healthcare journey.

RV Health’s portfolio also includes Healthline Media, the #1 digital health property with 92MM unique monthly visitors according to the latest Comscore rankings, and its brands Healthline.com, MedicalNewsToday.com, PsychCentral.com and Greatist.com. In the two years since Red Ventures acquired Healthline Media, its revenue and audience have both grown over 50%. Together, RV Health is the world’s largest digital health platform, with a global monthly audience of more than 275 million, according to Google Analytics.

“People are demanding digital health solutions they can trust,” said RV Health CEO Jeff Hallock. “With the addition of Healthgrades.com, RV Health now has the industry’s leading digital health platform. Bringing the leading healthcare marketplace together alongside the world’s largest health information property, we are transforming the online health journey - from seeking health information online to finding the care they deserve.”

This acquisition advances Red Ventures' mission to help people discover and decide on the most important aspects of their lives by adding healthcare provider selection to its mix of financial services, health information, media and technology, travel, education and entertainment.

“There’s nothing more personal than health,” said Red Ventures co-founder and CEO Ric Elias. “Every American should be able to easily find the right healthcare provider when they need it. By pairing Red Ventures’ trusted content with Healthgrades.com’s deep healthcare provider insights, we can fundamentally improve the process of finding care and ultimately, helping people take charge of their health.”

With the sale of Healthgrades.com, Mercury Healthcare will focus on its software and data as a service technology that leverages advanced analytics and insights from patient and provider data, to create a seamless experience across all physical and digital touchpoints for the nation’s health systems, ultimately leading to better outcomes.

“This represents the culmination of a two-year strategy focused on building, then separating, two highly successful, but ultimately different businesses – our marketplace business and our technology business—each with enormous opportunities,” said Jovan Willford, CEO, Mercury Healthcare. “Red Ventures is a terrific new home for Healthgrades.com, and I’m excited about the future of Mercury Healthcare, the only data-enabled company that helps providers engage consumers, improve physician relationships and deploy informatics to motivate target populations.”

There are no layoffs as a result of the RV Health acquisition. More than 200 Healthgrades.com employees will join Red Ventures’ larger team of more than 4,500 employees worldwide. The Healthgrades.com leadership team will remain intact, and the team will continue to be based primarily in Denver and Atlanta.

Healthgrades.com, along with the recent additions of CNET Media Group and Lonely Planet, expands Red Ventures’ ability to pair trusted brands and premium content with best-in-class online marketplaces and deep digital insights to help consumers discover and decide across a variety of industries.

Goldman Sachs and Piper Sandler acted as financial advisors and Kirkland & Ellis LLP acted as legal advisor to Mercury Healthcare. King & Spalding LLP acted as legal advisor to Red Ventures.

About RV Health

RV Health is a Red Ventures business that helps more than 90MM unique visitors monthly live their strongest and healthiest lives. The RV Health portfolio includes Healthline.com, Healthgrades.com, MedicalNewsToday.com, Greatist.com, and PsychCentral.com. RV Health has the largest consumer health and wellness audience online, and employs more than 500 people across San Francisco, New York City, Charlotte, Detroit and more.

About Red Ventures

Over the last twenty years, Red Ventures has built a platform of businesses, trusted brands, proprietary technology and strategic partnerships that work together to connect millions of people with expert advice. Through premium content and personalized digital experiences, Red Ventures builds online journeys that make it easier for people to make important decisions about their homes, health, travel, finances, education and entertainment. Founded in 2000, Red Ventures spans 5 continents and employs more than 4,500 people. Red Ventures owns and operates several large digital brands including CNET, Healthline Media, The Points Guy, Bankrate and Allconnect.com.

For more information, visit https://redventures.com and follow @RedVentures on social platforms.

About Mercury Healthcare

Mercury Healthcare is a technology and data analytics company that empowers healthcare organizations to engage consumers and optimize provider relationships to accelerate growth. Our customers benefit from 30 years’ experience applying data analytics to drive intelligent engagement and enable personalized healthcare journeys. At Mercury Healthcare, we help healthcare organizations create seamless consumer experiences and improve outcomes to build healthier communities.

Media Contact:

Steve Swasey
Vice President, Communications, RV Health
[email protected]

Jennifer Newman
Mercury Healthcare
[email protected]

Ami Shukla
Director, Communications, Red Ventures
[email protected]

by Kimberly Lu

Vestar Capital Partners to Make Majority Investment in PetHonesty, a Leader in Premium Pet Supplements

NEW YORK, July 14, 2021 /PRNewswire/ -- Vestar Capital Partners, a leading U.S. middle-market private equity firm, announced today that it has agreed to make a majority investment in PetHonesty (or "the Company"), a trusted leader in premium pet health products providing high-quality, innovative pet supplements. PetHonesty co-founders Ben and Camille Arneberg will retain a significant minority stake in the Company, and Mr. Arneberg will continue to serve as CEO. Terms of the transaction were not disclosed.

Founded in 2018, PetHonesty is a highly differentiated brand known for its strong focus on product innovation and premium ingredients backed by nutritional science. PetHonesty's products are formulated to help address a range of common pet ailments, including mobility, digestion, and allergies, providing a healthy supplement to traditional pet diets. Based in Austin, TX, with a second office in New York City, the Company sells its products direct to consumers via its website as well as through partners such as Amazon and Chewy.

"PetHonesty is a fast-growing company that has built a passionate following of pet-loving consumers, and we're excited to partner with Ben and the entire team as the Company builds on its success," said Winston Song, Managing Director and Co-Head of Consumer at Vestar. "Pet parents have shown they are deeply committed to purchasing premium products, and PetHonesty is well positioned as the pet humanization trend and pet ownership continues to grow. We look forward to leveraging our consumer and pet category experience to help PetHonesty expand its brand and reach new customers."

"Our vision was to create the most trusted pet health company that empowers pet owners to offer their pets healthier and higher quality lives, and our partnership with Vestar is the next step in that journey," said Mr. Arneberg. "We have been fortunate to find the right partner in Vestar, which remains committed to our business strategy and will help provide the financial backing, industry relationships and category expertise needed to build on our momentum."

In conjunction with Vestar's investment, Jeffrey Ansell, a Vestar Senior Advisor and 35+ year consumer industry veteran, will join the PetHonesty board as Chairman. Earlier in his career, Mr. Ansell was a Procter & Gamble ("P&G") executive for 25 years, the last seven of those as President of the Iams company, following P&G's $2.3 billion acquisition in 1999. During his tenure leading P&G Pet Care, sales of iconic brands Iams and Eukanuba more than doubled from under $800 million to over $1.6 billion, and Iams became the #1 pet nutrition brand in the U.S. Mr. Ansell currently serves as Chairman, or member of the Board, for several other Vestar portfolio companies.

Vestar has deep experience in pet food and the broader better-for-you (BFY) food industry. The firm previously owned Big Heart Pet Brands, whose products include Meow Mix, Milk-Bone and Natural Balance.  Some of Vestar's current BFY food investments include Dr. Praeger's Sensible Foods, a manufacturer of better-for-you plant-based foods; Simple Mills, an innovative, market-leading better-for-you cracker, cookie and baking mix brand in the natural and organic channel; and Presence Marketing, the leading national sales broker dedicated exclusively to representing natural and organic food, beverage and personal care brands.

Kirkland & Ellis LLP served as legal counsel and William Blair acted as financial advisor to Vestar. Egan Nelson LLP served as legal counsel and Lincoln International acted as financial advisor to PetHonesty.

About PetHonesty
Based in Austin, TX and founded in 2018, PetHonesty is a trusted leader in pet health, providing premium pet supplements and products. The Company's pet products are formulated to help address a range of common pet ailments, including mobility, digestion, and allergies, providing a healthy supplement to traditional pet diets. PetHonesty products are available via its website as well as through Amazon and Chewy. For more information, please visit www.pethonesty.com.

About Vestar Capital Partners
Vestar Capital Partners is a leading U.S. middle-market private equity firm specializing in management buyouts and growth capital investments. Vestar invests and collaborates with incumbent management teams and private owners to build long-term enterprise value, with a focus on Consumer, Business & Technology Services and Healthcare. Since its founding in 1988, Vestar funds have invested $8 billion in 85 companies – as well as more than 200 add-on acquisitions – with a total value of approximately $50 billion. For more information on Vestar, please visit www.vestarcapital.com.

Media Contacts:
Lambert & Co.
Jennifer Hurson
(845) 507-0571
[email protected]

Caroline Luz
(203) 656-2829
[email protected]

SOURCE Vestar Capital Partners

by Kimberly Lu

Vestar Capital Partners Acquires Stratus, a Global Leader in Brand Implementation and Facilities Services, from Arcapita

NEW YORK, July 7, 2021 /PRNewswire/ — Vestar Capital Partners (“Vestar”), a leading middle-market private equity firm, announced today that it has acquired Stratus (or “the Company”), a market-leading asset-light facilities services provider, from Arcapita Group Holdings (“Arcapita”), a global alternative investments firm. Terms of the transaction were not disclosed.

CEO and founder Tim Eippert and the Company’s senior leadership team will continue to lead Stratus  and will reinvest in the transaction alongside Vestar. Arcapita will also retain a minority stake in the Company.

Founded in 1953 and based in Mentor, OH, Stratus serves a highly diversified base of blue-chip customers including some of the leading Fortune 100 brands in 50 states and 24 countries across a broad range of end markets, including healthcare, financial services, QSR, convenience stores, and telecom. The Company offers best-in-class customer service and integrated solutions, enabled by a differentiated technology suite and unmatched expertise and scale. Under Arcapita’s ownership, Stratus more than tripled its revenue to over $300 million, while completing multiple add-on acquisitions to expand the Company’s customer base and product offerings.

“Stratus is fortunate to have found a true partner in Vestar, which shares our customer-centric philosophy and vision for growth, and has a deep understanding of our industry,” said Mr. Eippert. “We look forward to leveraging Vestar’s strategic relationships, capital, and operational expertise alongside our ongoing partnership with Arcapita, working together to continue building our capabilities for the benefit of our valued customers.”

“Stratus’ significant investments in systems and operational infrastructure, deep understanding of its customers’ needs, and relentless focus on service excellence have enabled its growth into a scaled nationwide platform,” said Nikhil Bhat, Vestar Managing Director and Co-Head of Business & Technology Services. “The Company has an attractive opportunity to expand into complementary service lines and reinforce its current offerings through acquisition and continued investment in the platform. We are excited to partner with Tim and his exceptional management team to help accelerate the next stage of Stratus’ growth.”

Martin Tan, Arcapita’s Chief Investment Officer, commented, “Arcapita is extremely proud of Stratus’ transformation into the leading national brand implementation company that it is today. With Arcapita’s support, Stratus has been able to expand its services and product offerings, as well as expand its footprint across the US. Stratus’ success is a testament to Arcapita’s dedicated approach of investing in good companies and providing them with the resources to realize their ambitions. We are confident that with the current strength of the Stratus bench and Vestar’s added support, the Company will continue to enjoy the rapid growth we have achieved, in the coming years.”

William Blair and Citizens M&A Advisory acted as financial advisors and King & Spalding served as legal counsel to Stratus. Robert W. Baird & Co. acted as financial advisor and Kirkland & Ellis LLP served as legal counsel to Vestar.

About Stratus
Stratus is a leading brand implementation and facilities services company offering signage solutions, energy services, repair and maintenance programs, and refresh and remodel capabilities across 50 states and 24 countries. With more than 50,000 projects completed annually, the Company provides versatile solutions for some of the world’s largest and most recognized brands. For more information, please visit www.stratusunlimited.com.

About Vestar Capital Partners
Vestar Capital Partners is a leading U.S. middle-market private equity firm specializing in management buyouts and growth capital investments. Vestar invests and collaborates with incumbent management teams and private owners to build long-term enterprise value, with a focus on Consumer, Business & Technology Services and Healthcare. Since its founding in 1988, Vestar funds have invested $8 billion in 85 companies – as well as more than 200 add-on acquisitions – with a total value of approximately $50 billion. For more information on Vestar, please visit www.vestarcapital.com.

About Arcapita
Arcapita is a global alternative investment manager, with offices in Atlanta, London and Singapore and an affiliated office in Bahrain. Arcapita’s principal lines of business are private equity and real estate, and its management has a 24-year track record of over 90 investments with total transaction value in excess of $30 billion. Further details on Arcapita can be found at www.arcapita.com

Media Contacts
For Vestar:
Lambert & Co.
Jennifer Hurson
845-507-0571
[email protected]
or
Caroline Luz
203-656-2829
[email protected]

For Arcapita
Tariq Hayat
+973 17 218 858
Mobile +973 39 461103
[email protected]
or
Brunswick
Ailsa Martin
+971 4 560 5900
[email protected]

by Kimberly Lu

LERETA Announces Sale To Flexpoint Ford And Vestar Capital Partners

COVINA, CA, July 6, 2021–  LERETA, LLC (“LERETA” or “the Company”), a leading national provider of real estate tax and flood services for mortgage servicers, and its equity holders, including funds managed by Tarsadia Investments, LLC, announced today that they have reached an agreement to sell the Company to private equity firms Flexpoint Ford and Vestar Capital Partners. The transaction is expected to close within 30 days.

LERETA’s chief executive officer, John Walsh, and the current senior management team will continue to lead the Company.

LERETA serves more than 4,000 customers nationwide. The Company processes more than $17 billion in tax payments annually and monitors more than 25 million loans for flood determinations. Over the past two years, the Company has met 99.9% of its service level agreements for all customers.

Commenting on the transaction, Walsh said, “Flexpoint Ford and Vestar Capital Partners represent an ideal partnership for LERETA. The combination of these two well-regarded firms provides deep experience in financial services and a wealth of knowledge around scaling and enhancing technology. LERETA has distinguished itself by providing a high level of customer service in our markets. As a result, we’ve been successful in adding new customers and building market share. This transaction will enable us to accelerate our already strong growth, step up our investments in technology and scale our operations to address the changing needs of the mortgage servicing industry.”

“We found that LERETA’s customers really valued its flexibility, attentiveness and white-glove customer service.  The Company’s planned increase in technology investments will continue to further enhance its customers’ experience,” said Steve Begleiter, Managing Director at Flexpoint Ford. “We are thrilled to partner with John, the LERETA team and Vestar in the next chapter of LERETA’s success. The Company’s focus on providing best-in-class service and the planned investment in its technology positions the business for an exciting future,” added Arjun Thimmaya, Managing Director, Flexpoint Ford.

“LERETA’s robust systems and service-oriented, client-first approach have enabled the Company to deliver high-quality, regulatory-compliant solutions for its customers’ most complex needs for over 35 years,” said Nikhil Bhat, Managing Director and Co-Head of Business & Technology Services at Vestar Capital Partners. “We are excited to support management as they accelerate the Company’s technology investments, further enhancing the speed, accuracy, and reliability of LERETA’s products while facilitating seamless integration with customers’ mission-critical workflows.”

Financial details of the transaction were not disclosed.

Rothschild & Co served as the lead financial advisor to LERETA and its board of managers, and Kirkland & Ellis, LLP served as legal counsel to LERETA.  American Discovery Capital also served as a financial advisor to LERETA and its board of managers. Raymond James served as financial advisor to Flexpoint Ford and Vestar Capital Partners. Wachtell, Lipton, Rosen & Katz served as legal counsel to Flexpoint Ford. Kirkland & Ellis, LLP served as legal counsel to Vestar Capital Partners.

About LERETA

Since 1986, LERETA has provided the mortgage and insurance industries the fastest, most accurate and complete access to property tax data and flood hazard status information across the U.S. LERETA is committed to giving customers extraordinary service and cost-effective property tax and flood solutions. LERETA’s services are designed to increase efficiency, reduce penalties and liabilities and improve processes for mortgage originators and servicers. LERETA’s dedicated teams of real estate tax and flood professionals along with LERETA’s experienced management team allow the company to lead the industry in service and technology.

About Flexpoint Ford

Flexpoint Ford is a private equity investment firm that has raised more than $5 billion in capital and specializes in privately negotiated investments in the financial services and healthcare industries. Since the firm’s formation in 2005, Flexpoint Ford has completed investments in more than 40 companies across a broad range of investment sizes, structures and asset classes. Flexpoint Ford is headquartered in Chicago, Illinois, with additional offices in New York, New York. For more information about Flexpoint Ford, please visit www.flexpointford.com.

About Vestar Capital Partners

Vestar Capital Partners is a leading U.S. middle-market private equity firm specializing in management buyouts and growth capital investments. Vestar invests and collaborates with incumbent management teams and private owners to build long-term enterprise value, with a focus on Business & Technology Services, Consumer, and Healthcare. Since its founding in 1988, Vestar funds have invested $8 billion in 85 companies – as well as more than 200 add-on acquisitions – with a total value of approximately $50 billion. For more information on Vestar, please visit www.vestarcapital.com.

About Tarsadia Investments

Tarsadia Investments is the California-based investment management company of a single-family office. Tarsadia Investments has a flexible and long-duration investment mandate that enables it to invest across multiple stages of maturity and asset classes. Its current portfolio includes majority investments in privately held companies and minority investments in venture- and growth-stage businesses.

###

Media Contact:

Bill Campbell

Campbell Lewis

[email protected]

212-995-8057

by Kimberly Lu

Accanto Health Announced As Company Name For Recently Merged Veritas Collaborative and The Emily Program

ST. PAUL, Minn., June 29, 2021 /PRNewswire/ -- The recently merged Veritas Collaborative and The Emily Program today announced the name of its parent company, unveiling "Accanto Health." Accanto, which means "beside" in Italian, represents the company's commitment to be with those they serve the whole way on their journey. Accanto Health will maintain both brand names of its leading eating disorders programs, The Emily Program and Veritas Collaborative.

"Everyone we serve is on a journey, whether early on in that journey or further along. We believe we are building a relationship with them to help them get to a better place. The impact we have will last a lifetime," said Dave Willcutts, CEO of the newly named Accanto Health. "We want to be beside everyone we serve for as much of the journey as they need our help."

Accanto will retain the highly respected The Emily Program and Veritas Collaborative brands in their respective markets across Georgia, Minnesota, North Carolina, Ohio, Pennsylvania, Virginia, and Washington. Accanto is committed to expanding access to care while maintaining the highest level of clinical integrity and treatment standards.

"We know clients and families rely on The Emily Program and Veritas Collaborative brands to deliver warm, high-quality expertise, care, and support," said Willcutts. "We will continue to work to exceed their expectations as they put their trust in us to be with them the whole way in recovery. We also know the need for eating disorder treatment exceeds the availability of services. Accanto is committed to bringing care to more people in more places."

About Accanto Health
Accanto Health, based in St. Paul, Minnesota, is a national healthcare company specializing in eating disorders and related disorders, with two nationally known eating disorder brands, The Emily Program and Veritas Collaborative, collectively offering care in 20 locations across 7 states: Georgia, Minnesota, North Carolina, Ohio, Pennsylvania, Virginia, and Washington. Recognizing that one size does not fit all, Accanto Health programs provide exceptional, individualized care for people with eating disorders of all ages in a gender-diverse and inclusive environment, incorporating an array of individual, group, and family therapy, nutrition, psychiatry, medical care, yoga, education, and support services. Services are offered across a full continuum of care including inpatient, residential, partial hospitalization, intensive outpatient, and outpatient. If you or someone you know is struggling with an eating disorder, call 1-888-EMILY-77 or visit accanto.com

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Contact: [email protected] or Jillian Lampert, Chief Strategy Officer, 651.428.4654

SOURCE Accanto Health

Related Links

https://accanto.com/

by Kimberly Lu

Vestar Capital Partners Names Jane Larsen Wildman as a Senior Advisor

NEW YORK, June 7, 2021 /PRNewswire/ -- Vestar Capital Partners ("Vestar"), a leading middle-market private equity firm, today announced that Jane Larsen Wildman has joined the firm as a Senior Advisor focused on the beauty and personal care ("BPC") sector. Ms. Wildman will work closely with Vestar's Consumer Group to actively seek and evaluate new investment opportunities in the BPC sector and help portfolio companies enhance their strategy and operations.

Ms. Wildman brings over 30 years of experience in global BPC, having led companies on strategy, brand building, channel expansion, and digital transformation. Her category experience includes hair, skin, feminine, health, baby, and men's personal care, as well as plant-based proteins, vitamins, and food. Most recently, Ms. Wildman served as President and board member of Combe Inc., a family-owned personal care business. Prior to Combe, she was a Partner at The Partnering Group, where she worked with start-ups, leading retailers, and Fortune 50 companies. She spent more than 25 years at Procter & Gamble, where she served as General Manager of Beauty Care, and Global Vice President and Chief Marketing Officer for Baby Care. During her tenure, P&G became the leader in global hair care and doubled the scale of its baby care business unit. Jane currently serves on the advisory boards of the Association for National Advertisers' Alliance for Inclusive and Multicultural Marketing, G100's SSA Digital practice and its Women's Leadership Accelerator, among others.

"I am honored to join the Vestar team at this important time in the rapidly evolving consumer and retail markets," said Ms. Wildman. "Vestar's strong team and their strategy of building long-term enterprise value through deep partnerships with their portfolio companies attracted me to the firm. Their collaborative approach with management teams and founders is crucial in realizing maximum growth, and I look forward to working with the team to help companies achieve their goals."

"Jane has significant experience building and revitalizing brands in the beauty and personal care sector, which will be an invaluable resource for Vestar as we look to increase our investment activity in this large, growing category," said Winston Song, Vestar Managing Director and Co-head of Consumer. "Jane's operating expertise and strategic network enhances Vestar's consumer franchise and capabilities, and she will be a strong asset to our current and future portfolio company management teams."

"Given Jane's experience with both large established and smaller emerging BPC brands across omnichannel environments, she brings a wealth of knowledge that will help us evaluate opportunities in this attractive sector. We're thrilled to welcome Jane and grateful that she has chosen Vestar as her partner," said Diya Talwar, Principal in Vestar's Consumer Group.

About Vestar Capital Partners

Vestar Capital Partners is a leading U.S. middle-market private equity firm specializing in management buyouts and growth capital investments. Vestar invests and collaborates with incumbent management teams and private owners to build long-term enterprise value, with a focus on Consumer, Business & Technology Services and Healthcare. Since its founding in 1988, Vestar funds have invested $8 billion in 85 companies – as well as more than 200 add-on acquisitions – with a total value of approximately $50 billion. For more information on Vestar, please visit www.vestarcapital.com.

Media Contact
Lambert & Co.
Jennifer Hurson
845-507-0571
[email protected]
or
Caroline Luz
203-656-2829
[email protected]

SOURCE Vestar Capital Partners

Related Links

http://www.vestarcapital.com/

by Kimberly Lu

Simple Mills Partners with IRI Growth Consulting to Drive Profitable Innovation

CHICAGO – May 5, 2021 – IRI^®, a fast-growing, global leader in innovative solutions and services for consumer, retail and media companies, and Simple Mills, a pioneer in the clean-food snacking space that ranks as the No. 1 baking mix, No. 1 cracker brand and No. 3 cookie brand in the natural category in over 25,000 stores nationwide, continue to expand their growth consulting partnership focused on expanding the Simple Mills portfolio and overall value proposition for retail partners and consumers. The partnership is part of IRI's efforts to guide clients of all sizes in making the most cost-effective investments in pricing, pack architecture, messaging/positioning, and product features and innovation that will strengthen their overall value proposition and profitability.

Robb Bennett, director of Insights and Analytics at Simple Mills, said, "Simple Mills partnered with IRI on a Price Pack Architecture project that drove highly actionable insights for both our current portfolio and new innovations. The IRI team mapped the current price and pack landscape, devised a custom approach to test consumer demand for new concepts across multiple retail channels, and advised on actions based on the learnings – all amid the market uncertainty of 2020. The results played a central role in developing new PPA concepts that will begin hitting the market later this year and enabled us to confidently move forward on new innovation. We greatly benefitted from the IRI team's strategic thinking, research experience and cross-category pricing expertise."

"Due to recent cost increases and shopper behavior shifts stemming from COVID-19, CPG manufacturers – especially premium players – need to strengthen their margins and justify their price positioning," said Ray Florio, executive vice president and partner of IRI Growth Consulting. "Furthermore, shoppers have become far more cynical about product claims and benefits, requiring brands to take a more sophisticated approach to communicate their true value and avoid commoditization. IRI is proud to partner with Simple Mills and other companies looking to navigate rapidly changing landscapes and make strategic growth decisions to drive sustained competitive advantage during these uncertain times."

IRI Growth Consulting is focused on supporting retail, CPG and health care companies of all sizes grow both top-line revenues and bottom-line profits simultaneously, with a focus on portfolio and brand strategy, pricing strategy, value proposition and innovation, and customer and product profitability. Among other benefits, the group can support clients by:

• Developing strategies for expanding their portfolio to capitalize on additional use and shopping occasions.
• Optimizing the link between product pricing, product development and marketing.
• Determining the most efficient path forward through portfolio profitability.

If you're interested in learning more about IRI Growth Consulting, please contact Ray Florio at [email protected].

ABOUT SIMPLE MILLS

Founded in 2012, Simple Mills is a leading provider of better-for-you crackers, cookies, snack bars and baking mixes made with whole-food, nutrient-dense ingredients and nothing artificial, ever. In just eight years, the company has disrupted center-aisle grocery categories to become the #1 natural cracker and #1 natural baking brand with distribution in over 20,000 stores nationwide. Its mission is to advance the holistic health of the planet and its people by positively impacting the way food is made. For more information, visit www.simplemills.com.

ABOUT IRI'S MID-MARKET GROWTH PRACTICE

The Mid-Market Growth Practice of IRI provides high-tech and high-touch support for small- to midsize manufacturers. Regardless of company size, IRI has a data solution that drives understanding and growth. Companies benefit from access to all the same tested and proven solutions offered to IRI global partners, enabling companies of all sizes to democratize data, streamline analytics and, ultimately, win in the marketplace. For more information on IRI's comprehensive portfolio of solutions specifically crafted for small- and midsized brands, please contact Robert Porod at [email protected].

IRI Contact:
Shelley Hughes
Email: [email protected]
Phone: +1 312-474-3675

by Steve Newman

Vestar VII Leads Growth Equity Investment In Friday Health Plans

Denver, April 01, 2021 (GLOBE NEWSWIRE) -- Friday Health Plans, Inc. (“Friday”), a Denver-based health insurance holding company, announced today that it has signed an agreement to receive a $100 million equity investment led by Vestar Capital Partners, a leading U.S. middle-market private equity firm. Leadenhall Capital Partners, a London-based insurance-focused investment manager, will provide an additional $60 million in debt financing. Following robust membership growth of more than 400% in 2021, Friday will leverage the additional funds to expand into new markets with a focus on technology-driven individual and small-group health insurance.

“This funding will not only allow us to offer health plans to more people, but will also accelerate Friday’s technology innovation,” said Sal Gentile, CEO of Friday Health Plans. “Friday was built specifically for individuals seeking simplicity, practical health benefits, and great service – all at an affordable price. We’re able to offer that through a combination of efficient operational execution and consumer-centric technology.”

Friday currently serves more than 70,000 members in Colorado, New Mexico, Nevada and Texas, with plans to expand its offerings into multiple new states each year. Most of Friday’s health plans include $0 primary care visits, $0 mental health counseling, free generic drugs and free telehealth visits. Consumers can purchase the plans on the national or state-based health exchanges, through brokers, or directly on Friday’s website.

“Friday has proven its ability to run an efficient, technology-driven health plan in the consumer health insurance market, and with our investment, we’re excited to support the company as it grows its footprint,” said Norm Alpert, Co-President and Co-Founder of Vestar Capital Partners. “There’s great demand for affordable, customer-driven insurance, and expanding nationwide will help bring better insurance options to those who need it most.”

 "Leadenhall is delighted to continue to support and further expand its successful partnership as Friday Health Plans grows its business," said Tom Spreutels, Head of Origination at Leadenhall Capital Partners. “We are equally pleased to be supporting Friday as an innovative provider of affordable health insurance, bringing their plans to a wider group of individuals.”

Friday Health Plans was started in 2015 by Mr. Gentile and David Pinkert, two health technology industry veterans. After the passage of the Affordable Care Act, the pair wanted to start a simpler, friendlier health insurance company, better designed for consumers not receiving health insurance from their employer.

With headquarters in Denver, Friday Health Plans has grown exponentially through acquisition and organic growth. In 2017, the company acquired Colorado Choice Health Plans, a 45-year-old company located in Alamosa, CO. Friday continues to operate in Alamosa and has grown its employee base there to more than 175 people.

Closing of the investment is expected to occur within 90 days and is contingent upon regulatory approval and the satisfaction of certain closing conditions. This funding follows $50 million in institutional funding Friday received from Peloton Equity, Leadenhall Capital Partners and the Colorado Impact Fund in 2019.

TripleTree, LLC acted as the exclusive financial advisor to Friday Health Plans for this transaction.

About Friday Health Plans

Friday Health Plans is purpose-built specifically for people and small businesses who buy their own health insurance. The company focuses on overall simplicity to offer affordable health plans with benefits that help members stay healthy and cover them if they get sick or hurt. Operational efficiency, top-notch customer service, and smart technology are core to Friday’s consumer-centric approach. All insurance plans and services are offered and administered through licensed subsidiaries of Friday Health Plans, Inc. For more information and to find a health plan, visit www.fridayhealthplans.com.

About Vestar Capital Partners

Vestar Capital Partners is a leading U.S. middle-market private equity firm specializing in management buyouts and growth capital investments. Vestar invests and collaborates with incumbent management teams and private owners to build long-term enterprise value, with a focus on Consumer, Business & Technology Services and Healthcare. Since its founding in 1988, Vestar funds have invested $7 billion in 83 companies – as well as more than 200 add-on acquisitions – with a total value of approximately $50 billion. For more information on Vestar, please visit www.vestarcapital.com.

About Leadenhall Capital Partners

Leadenhall Capital Partners is a London, UK-based institutional investment manager focused on managing life and non-life insurance linked investments with over US$6.4bn assets under management, with offices in the UK, Bermuda and the United States. Established in November 2008, Leadenhall Capital Partners has made over 125 investments in companies at various stages of their growth cycle, and at various points in the capital structure.  Leadenhall has the expertise to identify promising investment opportunities whilst also backing companies which may provide access to attractive life and health risks for its investment portfolios.  For additional information on Leadenhall, please visit www.leadenhallcp.com

by Steve Newman